CHAPTER ONE
1.0 INTRODUCTION
The fundamental goal of every business organization is profitability and survivability business environment is very dynastic and unpredictable hence the business manager tries to adopt and adjust to their changes so as to provide insulation against some unforeseen situation product modification is the future of any business and without a continuous of new product such state may die prematurely. According to Oxford advances dictionary to modify means to make changes by introducing new ideas method etc.
Modification can be seen as a process of developing and introducing uniqueness in an existing way of doing things process or services. The theory of practices of innovation is not a new concept, history records that a man like creatures was seen in Africa some tools for most of the activities. This creative which later to be referred to as homoliablic (man manipulate tool) was an accomplished tools and needed out stone modification has become a strategic tools and a door that leads from failure to success. Necessity they say is the mother of invention the depressed situation of the Nigeria economy and the harsh marketing environment therein has made it imperative for finals to innovate or ferish now product are the future of any business and without a continues flove of them the marketing system will die.
Norman (1987) defined innovation as the introduction of new though policies, products, markets, distribution, merchandising, or other deliberate changes giving that all thing be equal all product have life cycle which dictates that at some point there usefulness will define Reword et al (1977) defined product modification as the process of fitting the proposed product to the requirements and opportunities of the market, innovation is characterized by danger risk may be wasting and human resources with achieving now. The uncertainty arises as the whether the modification the success of a state in new product development require among other things the establishment of effective organization for managing the planning and execution of the process.