Lifestyle Branding As A Method Of Increasing Product Appeal (A Study Of Life Beer In The South East)
Branding is an important issue in any organization. This is because without a proper branding of a firm’s products, it’s difficult for the firm to run its operation smoothly for profit. The importance this study the lifestyle branding as a method of increasing product appeal – a study of life bear in the south east cannot be overemphasized. The results of this study will be recommended to the Nigerian brewery company and will be used to give guidelines on the importance of lifestyle branding, and how it can be used to increase the number of customers. In this study after data was analysed we found out that Lifestyle branding increases product appeal by the customers and Life branding provides financial returns for Company.
Table Of Content
- Table of Content
- 1.1 Background to the Study
- 1.2 Statement of Problem
- 1.3 Objective of the Study
- 1.4 Research questions
- 1.5 Research Hypothesis
- 1.6 Significance of Study
- 1.7 Scope and limitation of the Study
- 1.8 Definitions of Key Terms
- 1.9 Organization of the study
2.0 Literature Review
- 2.1 Introduction
- 2.2 Concept of Branding
- 2.3 Product Branding
- 2.4 Branding Strategy
- 2.5 Effects of Product Branding on Profitability
- 2.6 Principles of Branding
- 2.7 Historical Background of Nigerian Brewery Company
- 2.8 Problems Encountered in Enhancing Profitability in Nigerian Brewery Company
3.0 Research Methodology
- 3.1 Introduction
- 3.2 Research Design
- 3.3 Sources of Data
- 3.4 Instruments of Data Collection
- 3.5 Population of Study
- 3.6 Sample Size
- 3.7 Methods of Data Analysis
4.0 Data Presentation and Analysis
- 4.1 Presentation of Data
- 4.2 Hypothesis Testing
- 4.3 Discussion of Findings
5.0 Summary, Conclusion and Recommendations
- 5.1 Introduction
- 5.2 Summary
- 5.3 Recommendations
- 5.4 Conclusions
1.1 Background Of The Study
Brands and branding have existed for as long as it has been possible to trace artifacts of human existence. According to American Market Association (2010) a brand is a name, term, design, symbol, or any other feature that identifies one seller’s good or service as distinct from those of other sellers or competitors. Branding emerged in the nineteenth century when smart entrepreneurs realized that they could charge more for an otherwise standard commodity if they could guarantee quality and consistency; they usually claimed that their branded product had some outstanding characteristics that justified the extra cost (Doyle, 2001).
In today’s business world companies have to market their product as well as themselves. This enables them to gain an edge over their rivals and to differentiate themselves. Coca- Cola for example is globally known not only for the cold drinks but for providing a lifestyle. Drinking Coca-Cola means much more to some customers than just having a cold drink or choosing to take Pepsi despite of both having about the same price. Coca-Cola has a competitive advantage over Pepsi because of the Coca-Cola brand. Through branding Coca-Cola has been able to create a long-term relationship with its customers and established a connection with them and therefore their customers are loyal. Coca-Cola is known as one of the worlds’ most recognized brands (Melin, 2001).
Companies therefore have set funds aside to project the right kind of image and capture their customers’ loyalty. While working on its image a company has to incorporate its communication plan which aims at building its reputation among it different stakeholders. The idea behind it is to create a coordinated image that runs through all facets of the company’s appearance (Advetiser 1991).
A communication plan dictates a company’s vision and mission. To make the idea of a communication plan successful, most companies if not all have a Public Relations and Marketing department that ensures it keeps, builds and maintains a good reputation. Competition among different bear in Nigeria has risen. A brand which is widely known in the market place acquires brand recognition. When brand recognition builds up to a point where a brand enjoys a critical mass of positive sentiments in the market place, it is said to have achieved brand franchise. Brand recognition is most successful when people can state a brand without being explicitly exposed to the company’s name but through visual signifiers as mentioned earlier like logos, slogan’s and colours.
Life Continental Lager Beer is the fine quality lager beer from the stables of Nigerian Breweries Plc made from the choicest grains, hops and the purest of waters. Life Continental Lager Beer is expertly brewed to give that rich, crisp distinctive taste and well-rounded aroma in true quality fashion of the master brewers. Life is better when shared and when life is shared, there is progress. This is what forms the core brand value of great-tasting Life Continental Beer, promoting and refreshing a life-long tradition of sharing, a heritage of progress.
Nigerian Breweries Plc, is the pioneer and largest brewing company in Nigeria. It serves the Nigerian market and exports to other parts of West Africa. Nigerian Breweries was incorporated in 1946 and the first bottle of its brand, the STAR Lager, rolled off the bottling lines of its Lagos brewery in June 1949. As the company expanded into other regions, it established more breweries such as Aba Brewery in 1957 and Kaduna Brewery in 1963. By 1971, the company was one of the largest industries within the country in terms of capital investment. In 1982, another brewery was added in Ibadan. In September 1993, the company acquired its fifth brewery in Enugu, and in October 2003, its sixth brewery, sited at Ameke in Enugu. Ama Brewery began brewing on the 22 March 2003 and at 3 million hectolitres is the largest brewery in Nigeria. In this project we want to study lifestyle branding as a method of increasing product appeal – a study of life bear in the south east.
1.2 Statement Of Problem
Branding is an important issue in any organization. This is because without a proper branding of a firm’s products, it’s difficult for the firm to run its operation smoothly for profit. As consumer become more sophisticated, manufacturers place more emphasis upon promoting their brands directly to consumers (rather than to distributors) spending considerable sums on advertising the high quality of their products thus profitability. Furthermore branding has been a major issue especially in developing countries. As a result in order to explain the relationship between branding and profitability in developed countries. Manufacturers believe that if they invest in the quality of their brands they will build up a brand image to which consumers will respond by asking for their foods by their brand names and by being willing to pay a premium for them. It is against this background that the research seeks to investigate lifestyle branding as a method of increasing product appeal – a study of life bear in the south east.
1.3 Objectives Of The Study
The broad objective of the study is to examine the lifestyle lifestyle branding as a method of increasing product appeal. The study also have the following specific objectives:
- To find out the extent to which manufacturers engage in sales promotional activities including lifestyle branding.
- To evaluate the different lifestyle branding strategies adopted by management of Nigerian brewery company.
- To identify the extent that product lifestyle branding has led to increased in product appeal and return on investment in the company.
- To find out the extent to which brand name has influence on consumers product appeal.
1.4 Research Questions
- What is the extent to which manufacturers engage in sales promotional activities including lifestyle branding?
- What are the different lifestyle branding strategies adopted by management of Nigerian brewery company?
- What is the extent that product lifestyle branding has led to increased in product appeal and return on investment in the company?
- What is the extent to which brand name has influence on consumers product appeal?
1.5 Research Hypothesis
- H0: Lifestyle branding has no significant effect on the product appeal of Nigerian brewery company.
- H1: Lifestyle branding of products has a significant effect on the product appeal of Nigerian brewery company.
1.6 Significance Of Study
The results of this study will be recommended to the Nigerian brewery company and will be used to give guidelines on the importance of lifestyle branding, and how it can be used to increase the number of customers.
This study by its substantive examination of past literature has contributed to the richness of the past studies.
Furthermore, it has reinforced some past knowledge, updated information in studies relating to branding and how it enhances profitability in a manufacturing industry.
1.7 Scope And Limitation Of Study
The study limits its scope on the life beer brand in the south eastern part of Nigeria only and precisely on how lifestyle branding in a manufacturing sector enhances profitability (case of Nigeria Breweries). Here, attempts are made to look at concept of branding, product branding, branding strategy, effects of product branding or their significant contribution on organizational profitability.
A study of this nature cannot be effectively carried out without certain constraints. However, these constraints do not have any prejudice on the result of the findings in the course of the study. The major limitations of this study include inadequate resources; the unwillingness of some respondents to give all necessary information required. This work is not conclusive on its own; it is still open to further research studies.
1.8 Definitions Of Key Terms
This is the money made in business or by selling things especially after paying the cost involved. It could also be seen as inflow of assets into the firm as a result of sales of goods and or service by such firm.
Brand is defined as the totality of product features such as a name, term, symbol, colour, design, mark or combination of things that distinguish it from other products or a means by which the firm identifies it to consumers.
According to Rosenthal (2003), branding is part of the promotional aspect of marketing and is extremely important to the image, reputation and success of a product or company
A lifestyle brand is a brand that attempts to embody the values, aspirations, interests, attitudes, or opinions of a group or a culture for marketing purposes. Lifestyle brands seek to inspire, guide, and motivate people, with the goal of their products contributing to the definition of the consumer’s way of life.
1.9 Organization Of The Study
This research work is organized in five chapters, for easy understanding, as follows
- Chapter one is concerned with the introduction, which consist of the (overview, of the study), historical background, statement of problem, objectives of the study, research hypotheses, significance of the study, scope and limitation of the study, definition of terms and historical background of the study.
- Chapter two highlights the theoretical framework on which the study is based, thus the review of related literature.
- Chapter three deals on the research design and methodology adopted in the study.
- Chapter four concentrate on the data collection and analysis and presentation of finding.
- Chapter five gives summary, conclusion, and recommendations made of the study.
Summary, Conclusion And Recommendation
The summary of the research work based on major findings of the study in relation to the study’s objectives is presented in this chapter. Conclusions was drawn from questionnaire administered, interview conducted on the study related materials and material on branding and revenue generation in manufacturing companies to improve on their recognition of the importance of product branding as a tool for enhancing profitability andreturns on investment.
This research project has continuously tried to emphasize the fundamental essence of enhancing profitability through product branding among manufacturing companies in Nigeria. In the course of this study, NBC was adopted as the case study with the aim of trying to analyze its product brand in enhancing profit and increase in sales. The study findings clearly indicates that branding of NBC product is one of the determinates of sales and continuous increase in return on investment on Life beer.
In chapter one, the research topic was thoroughly introduced giving an insight into the nature of the study. Chapter two contains reviewed literature and text written by scholars and researchers relating to the study. The historical background of NBC in Nigeria Chapter three focused on research methodology where the research design which involves research for solution to problem through planned and systematic approach was discussed. For this work, the exploration and descriptive research design were used also primary sources of data which involves the use of first hand information and secondary sources which uses information that already exist were used to source for information. The research instruments used for data collection was personal interview and the administration of questionnaire. the sample size usedfor the work is 60 comprising of 10 staffs of Nigerian Brewery Company, 15 distributors of the companies product and 35 consumers of the companies product. Finally, the percentages and Chi- Square was used in analysing and presentation of data
Chapter four presented the data collected from the administered questionnaire which were then interpreted and analysed using the percentage and Chi- Square method. After the interpretation and analysis, the alternate hypothesis was accepted while the null hypothesis was rejected since the value which is 27.03 is larger than the table value.
Based on the researcher’s findings, branding is one of the determinants of sales in NBC. Because of this, competitors may want to imitate the brand of NBC in order
- To forestall the occurrence of competitors imitating the brand of NBC. The branding should be done in such a way that it cannot be imitated.
- The researcher also observed that the problem of improper financing, planning, poor branding and insufficient sales can be revered. This can be achieved through proper allocation and use of funds and accurate planning and forecasting techniques to be used by management.
- Good branding strategies should be adopted to enhance profitability and sales volume.
- Finally, employees’ loyalty should be maintained by adequate monetary and nonmonetary rewards. The company should keep abreast of developments in the labor market as a means of ensuring rewards viz-a-viz other manufacturing companies. This is because, equipment no matter how sophisticated they are must be operated by people and finally frustrated employees are a threat to a company’s profit enhancement.
From the research, it is evident that principles of enhancing profitability tools and techniques are quite applicable and have been used in Nigerian Brewery Company (NBC) companies in Nigeria like any other industry that deals with tangible and intangible products. Market has been segmented so also the customers and products were differentiated to the target markets that results into different brands both heavy customers and light customers with the aim of increasing profit among manufacturing industry.
Nigerian brewery company PLC has been able to retain and motivate its channel members thereby increasing the market position of the organisation. The company management has been able to improve its knowledge of the needs of its consumers and fine turning its strategies to quickly adjust to changes in the environment. To a large extent the company has been in a fairly good position to withstand the threats of competitors within the industry like 7up brewery company, Chi Nigeria limited, Nigerian brewery just to mention a few.
- The company should refrain from loading the distributors with excessive inventories but providing adequate sales potential, monitoring distributors profits to ensure that their channels remain financially viable
- The company should embrace the marketing strategies of constantly innovating and improving their products to increase consumers satisfaction
- A strong intelligence network should be maintained to enable the company monitor the activities of competitors in the industry on regular basis
- The management of the company should explore every opportunity possible to create innovation which motivates its distributors and consumers of its products with a view of having competitive advantage
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