Author(s): Eneremadu Kingsley Enyinna, Uhegbu Moses and Iheoma Chikezie
This study, examined product innovation and growth of brewing firms in South-East, Nigeria. The study aimed at exploring the significant effect of re-packaging of products on firm’s growth, the influence of re-branding on firm’s growth, significant effect of improving product performance on firm’s growth and the significant effect of the introduction of entirely new product on firm’s growth. Descriptive survey research design was adopted for the study. The population of the study were 5,215 consists of total staff of the two selected brewery firms (Nigeria Breweries Plc Enugu and International Breweries Plc Onitsha). A sample size of 373 staff was determined through Taro Yamane’s formular. A structured questionnaire was administered which gave a response rate of 85.8%. The instrument was validated and the Cronch Alpha reliability for the major constructs. The data gathered was analyzed through descriptive, linear and multiple regression analysis. The study found there is a positive and significant relationship between production innovation strategies and firm’s growth. The model R2 (coefficient of determination) was 0.798, constant value (alpha) of 2.333, and F-Value yielded 17.198. The study concluded that product innovation has positive effects on growth of brewery firms in South East, Nigeria. The study revealed that, product repackaging, product rebranding, improved product performance and introduction of entirely new products have significant effect on the growth of breweries firms which firms should adopt for rapid growth and expansion. Also the various product innovation strategies had significant relationship with each other when compared using ANOVA except for improved product performance and new product development which showed no significant relationship. The study concluded that product innovation strategies have a strong positive effect on growth of breweries in South-East, Nigeria. Innovation strategies have been shown to be vital to boosts the output of organizations and the study recommended that firms should adopt product repackaging as a strategy for increase, growth, performance and rewards stakeholders of the organization.