Effects Of Branding On Product Image (A Study Of Unilever Nig Plc)
This research work focused on effects of branding on product image of selected Unilever NIG Plc’s fast moving Consumer Goods.(FMCG). The research critically and vividly looked into the meaning of branding, element of branding, Economic and Psychological effect of branding on consumer purchase decision making process.
The method used is survey research design which gives room for primary data Questionnaire. Questionnaire was administered on 100 consumer respondents. The regression analysis method is used to test the hypothesis and to examine the effect of branding on product image. During the course of findings, it was discovered that effective branding has an impact on new product performance and increases organizational sales volume. Since branding enhances the salability of the organization, sales volume will be increased. Conclusively the researcher deduced that effective branding affect the performance of new product in the market positively. Similarly it was also concluded that image which a product projects in the market is a function of effectiveness of the organizations branding decisions. Finally branding affects the generic image of the organization and ease the consumer decision making process, thereby leading to greater purchase of their products.
Table of Contents
- Title Page
- Table of Contents
- 1.1 Background of the study
- 1.2 Statement of the problem
- 1.3 Research Objectives
- 1.4 Research questions
- 1.5 Research hypothesis
- 1.6 Significance of the study
- 1.7 Operational definition of terms
- 2.1 Introduction
- 2.2 Historical background of the study (Unilever Nig Plc)
- 2.3 Product and new product development (NPD)
- 2.3.1 The features of a product
- 2.4 The concept of branding
- 2.4.1 Elements of branding
- 2.4.2 Brand
- 2.4.3 Defining brand equity
- 2.4.4 Types of brands
- 2.4.5 Brand awareness
- 2.4.6 Brand name
- 3.1 Introduction
- 3.2 Restatement of Research Question
- 3.3 Research Design
- 3.4 Sample size and sampling techniques
- 3.5 Restatement of research hypotheses
- 3.6 Data collection instrument
- 3.7 Method of data collection and analysis
- 3.8 Scope/Delimitation of the study
Data Presentation Analysis and Discussion
- 4.1 Introduction
- 4.2 Presentation and discussion of findings
- 4.3 Discussion of results
- 4.4 Discussion on findings
Summary of Findings, Conclusion and Recommendation
- 5.1 Introduction
- 5.2 Summary of findings
- 5.3 Conclusions
- 5.4 Recommendation
- 5.5 Suggestion for further study
1.1 Background to the Study
It is paramount for an organization to promote an awareness of differences between the products and those of competitors. Branding is one of the strategies of differentiating a product so that a company can compete in non-price basis i.e. a company product should be differentiated from competitive products.
Branding strategy is often used by companies selling reasonable standardized products such as soap, toothpaste and body cream or automobile to a brand market that is fairly homogenous in its demand for the given item. Kotler and Keller (2006) said that “to be branded product must be differentiated” physical products vary in their potentials for differentiation.
Anyanwu (2006) said that branding is essential for advertising effectiveness. This is because it is branding that distinguishes similar goods of different manufacturers. It helps consumers to identify the brand identity of various goods. A brand may begins with a name as in the case of ‘Pears’ ‘Omo’ ‘Lipton’ and ‘Lifebuoy’ but extends to other vital features – typography, colour, package design, slogan etc. These are features which assist in creating, stimulating and maintaining demand.
Confidence and consequently, image are based primarily upon satisfaction with using a company’s product and service and dealing with its people without the reality or value being present, it is virtually impossible to create the image of it. The image of the company or its brand should be a major source of differential advantage.
1.2 Statement of the Problem
Obviously, every research work seeks to proffer solution to certain research problems or questions. Selecting a good brand name is one of the major tasks facing the management of an organization. Bad brand name does not only destroy the image of a particular product but also affect consumer’s pre-disposition towards the other products produced by the company. The negative effect of giving a bad brand name to a product necessitates the study on the effect of branding on the image of Unilever Nig Plc products. Many organizations use loose words as their brand names. Sometimes firms or organizations do not know the branding strategy to adopt which will result into:
- Loss of customers to competitors
- Decrease in sales volume
- Loss of current market stand to the underdog competitors
- Decrease in the organization or firm new product performance
1.3 Research Objectives
This research work is aimed at providing solutions to branding problems facing an organization which may directly or indirectly affect the image of their product(s). The following objectives will be pursued in this research work:
- To examine the effect of branding on new product image.
- To investigate if effective branding have any effect on sales volume.
- To investigate if branding affect consumer buying decisions.
1.4 Research Questions
In the course of carrying out this research, the following questions will be answered:
- Does branding have an effect on new product image?
- Does effective branding have any effect on sales volume?
- Does branding affect consumer buying decisions?
1.5 Research Hypothesis
Hypotheses are tentative statements or arguable assertion formulated about the characteristics of a defined population which may be accepted or rejected after critical investigation and tests (Adaramola, 2001).
In this regard however, state that every research work must be hinged on two forms of hypotheses, namely: null hypothesis (H0) and alternative hypothesis (H1). The testable hypotheses for this research work include:
- H0: Effective branding does not have any effect on new product image.
- H1: Effective branding has an effect on new product image.
- H0: Effective branding does not have effect on sales volume.
- H1: Effective branding has effect on sales volume.
- H0: Effective branding does not have effect consumer buying decisions.
- H1: Effective branding has effect on consumer buying decisions.
1.6 Significance of the Study
The study will enable the management of Unilever Nigeria Plc and other organizations to know the effect of effective branding on their products or product image. It will also contribute to the academic discipline serving a good and reliable secondary data for the up-coming researcher who might be interested in conducting further research on the same course.
1.7 Operational Definition of Terms
It is anything that meets the functional needs of customers.
It is a specific name, symbol or design or more usually some combination of those used to distinguish a particular product from those of competitors.
Creating a developing striking presentation of a brand and spending sufficiently on advertising and promotion.
Consults of words, letters or letters that can be vocalized.
It is the part of the brand that appears in form of symbol, design or distinctive colour or lettering.
All potential customers sharing a specific need or want who might be willing and able to exchange something to satisfy that need and wants.
Summary of Findings, Conclusion and Recommendation
This chapter sheds more light on the summary of the preceding chapters and on the findings derived from the analysis of the data gathered for this study. It also provides for the conclusion drawn from this study as well as the recommendation made.
5.2 Summary of Findings
Effective branding enhances the performance of new product in the market. Branding attracts customers to a product by serving as cue which encourages them to enforce positively towards the product. However, it is imperative for marketing manager to know how branding works and what its effect depends upon. If branding is to be implemented effectively, a strategy needs to be carefully taken and implemented sensitively. The company should highlight the benefits of consuming the product and promote brand loyalty.
Effective branding provides an opportunity for a firm to develop a favorable relationship with consumer and this helps the organization to achieve its repeat purchase objectives.
Branding also is essential for advertising effectiveness. This is because branding distinguishes similar goods of different manufacturers from one another.
From the analysis of the data gathered, it was discovered that effective branding affect new product image in the market. A product that is adequately branded will be highly favoured by the customer.
Similarly, effective branding affects organizational sales volume. Since branding enhances the salability of a product the organization sales volume will be increased.
The image of a product can best be determined by branding. If a product is professionally and adequately branded, the product will project a good image in the market.
Finally, consumer’s choice of brand is affected by effective branding. A product that is well branded will capture the attention of the customer when making purchase decision.
Based on the researcher’s findings, the following recommendations can be proffered:
- The firm or organization should be careful when selecting a brand name.
- Experts should be employed when formulating a brand policy.
- The name given to a product should not have a negative meaning about such company’s product.
- A brand name selected should be duly registered in the country where it operates.
- A firm should distinguish its product completely from those of competitors.
- A company should be able to make a brand adaptable to the product line of the enterprise.
- The organization should be able to suggest something about the product’s benefits.
- Branding can be made more powerful to induce repeat purchase.
5.5 Suggestion for Further Studies
This study examined the effect of branding on product image. It only considered the effects of branding on selected Unilever fast moving consumer goods but not on all the various products (product mix) of the company this is also an area which can be researched on in future.
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