Abstract:
There is the need for strategic managers to have a better comprehension of how firms benefit from new product innovation so as to be able to overcome its competitors. It is against this backdrop that this study sought to examine the effect of product innovation as a strategy on sales performance. Purposive sampling and stratified random sampling methods were used to select 250 staff members of Guinness Ghana Limited (GGL). Questionnaire was key instrument for the primary data used in the study and was analysed with the aid of SPSS version 20. The study found that Guinness Ghana Limited has implemented two strategies; new products and packaging innovation that have increased customers level of satisfaction and retention. Adopted strategies of product innovation is viewed to be very effective and that, the right amount of resources is employed. There was a strong positive and significant correlation between successful product innovation and sales performance. In ensuring that GGL improves its sales, GGL should ensure availability of their products at all times. Moreover, GGL should ensure right pricing of products and products visibility and also localize adverts to suit customers. In addition, GGL should improve on sales materials and engage in promotional activities that are directed towards product value.
