Innovations play a key role in changing behavior, purchasing habits and improving living standard of customers. In this era of stiff competition, innovation is the only toil through which business firms do not only fight a war of survival but also obtain competitive advantage. This is the reason that business firms particularly high-tech companies spend billions of dollars every years on research and development (R&D) and development of new products and services keeping in view the changing needs and demand of the customers. The objective of this study is to investigate how innovation affects the behavior of customers and which factors motivate the customers to adapt innovation. Main research question of this study is to measure the impact of innovation on consumer behavior with special reference to electronic industry. We have taken Pak Electron Company Ltd, which is a market leader in Pakistan and manufacturing different electronic products and marketing them since 1956. In order to measure the behavior of consumer towards innovation products we have taken a sample of 200 male & female customers between the ages of 18-65 years. The data which was primary in nature, was collected through field survey and a questionnaire was structured for this purpose. Face to face interviews were conducted. A standard likert scale was used to analyze data. This scale is commonly used for analysis in qualitative studies. S-Curve model was used to measure the innovations made or introduced by Pak Electronics Ltd in collaboration with other leading electronic companies of the world. Our study evidence prove that the effect of innovations are significant on the behavior of customers and 75% of respondents endorsed that innovative electronic products attracted and have brought positive change in their behavior and living standards.
Firm level innovation brings about new ideas, new products development, pioneering of new technologies and processes as well as the promotion of entrepreneurship. It is the major driver of economic growth and competitiveness in the global market economy. This study assessed the status of innovation among small, medium and large firms in Ghana. From the up-dated list of the Association of Ghana Industries (AGI) a sample of 500 manufacturing and service sector firms employing more than 10 people were purposively selected across the country. The primary data were collected through questionnaire, and then analysed using descriptive and inferential statistics. The individual entrepreneur or owner of the firm was the unit of analysis. The result showed that innovation in Ghana is more prevalent in the small firms compared to medium and large firms. The study noted that most of the employees with university degrees were employed by large multinational firms and medium firms that are part of large groups. It also emerged that more than half (59%) of the processed innovations were developed within the firms themselves and 21% of the innovative firms collaborated with other firms and institutions for their innovative activities. The paper argues that drawing lessons from the experience of the Asian Tigers, firm level innovation could aspire Ghana achieve higher economic growth for favourable competition in the global economy.