Competitive Intelligence and Product Development/Innovations in Pharmaceutical Firms in Lagos State, Nigeria

  • Nduka Kenneth Omede Department of Business Administration, Novena University
  • Amaechi Sylvester Egwuenu Department of Business Administration, Novena University
  • Ezem Matthew Ibekwe Department of Business Administration, Novena University
DOI: https://doi.org/10.19184/jeam.v19i2.17845

Abstract

This study examined competitive intelligence and product development and innovation in pharmaceutical firms in Lagos State, Nigeria. Three hypotheses were formulated to determine whether or not a relationship exist between competitive intelligence and product development and innovation in pharmaceutical firms in Lagos State, Nigeria. The study adopted a survey research design to obtain data, using a structured questionnaire which was analyzed using Pearson’s product moment coefficient of correlation. The result indicated that there exists a significant relationship between competitive intelligence and product development and innovation in pharmaceutical firms in Lagos State, Nigeria. Based on the finding it was concluded that the process of product development and innovation cannot be successful except there is information about customer’s needs, wants and expectations of which the innovation products or services intends to serve. The study recommended among others that pharmaceutical firms should leverage on information gathering and sharing to determine the nature of the new product and service so that the new product offerings will be more valued and satisfying than the existing ones that are offered by the competitors.


Keywords:     Competitive Intelligence, Information gathering and sharing, Product Development and innovations, New products, New product offerings, Pharmaceutical firms.

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Published
2020-09-27
How to Cite
OMEDE, Nduka Kenneth; EGWUENU, Amaechi Sylvester; IBEKWE, Ezem Matthew. Competitive Intelligence and Product Development/Innovations in Pharmaceutical Firms in Lagos State, Nigeria. Jurnal Ekonomi Akuntansi dan Manajemen, [S.l.], v. 19, n. 2, p. 92-110, sep. 2020. ISSN 2459-9816. Available at: <https://jurnal.unej.ac.id/index.php/JEAM/article/view/17845>. Date accessed: 21 nov. 2024. doi: https://doi.org/10.19184/jeam.v19i2.17845.
Citation Formats
Issue
Vol 19 No 2 (2020)
Section
Articles

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