BRANDING AND MARKETING PRODUCTIVITY OF LOCALLY MADE PRODUCTS
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Abstract
This study sought to examine branding and marketing productivity of locally made products, using Home-made Bakery Factory in Uyo metropolis as a case study. A survey research design was adopted and a random sampling technique was used to select (164) respondents comprising of the staffs and loyal customers of the factory. However, only one hundred and twenty (120) responded to the questionnaire. Research questions was used as a guide to the study. The instrument for the study was the questionnaire. Data collected were analyzed by used of Chi-square statistical tool and simple percentages. The finding of the study revealed that that packaging and branding has positive effects on sales increase, hence increase in profit, furthermore; it revealed that branding and marketing do have influence on the buying habits of customers and profitability in Homemade Bakery in Uyo Metropolis. It was concluded that branding help locally made products to be easily spotted and differentiate from competitors and to attract certain groups of consumers to the product. It was recommended that the manager should periodically train, educate and empower employees in the effective use of social media to promote company brand since Social media campaigns happen to be far cheaper as compared to TV and Events.
CHAPTER ONE
INTRODUCTION
1.1 Background of the Study
Branding of products is an important aspect in promoting and marketing of locally made products, especially in a competitive kind of business. Branding and marketing are the two fundamental components of promoting both local and international products. Understanding the level of demand from a targeted audience for a certain product helps marketing managers understand possible supply prospects in the market. Identifying and understanding the areas that attracts the consumers gives manufacturers the opportunity to rebrand their products in a way that entice and retain their loyal consumers. It becomes pertinent for managers to develop a strategy, a marketing message and advertising campaigns, that is more efficient and more in line with the needs and ways of thinking of their target consumers, to better meet their needs and increase sales. As a good marketing strategy helps customers understand why a specific product is better than, or different from the competition (Burns, 2014).
Branding is the principal instrument used by marketers and companies to distinguish their products from that of competitors. Marketers use branding as a strategy to advertise and make favourable impact to sell their products or services to the targeted customers. After selecting a target customers, the marketing managers must develop a systematic plan for selling to customers and establishing long-term and loyal relationships. Marketing plan includes decisions on product, price, promotion and distribution. Smith (2000), defined branding as a technique in which businesses utilize the images or portraits of well-known personalities as a marketing strategy to enhance the sale of their products or services. It also refers to the act of giving a particular name and image to goods, events and services so that people will be attracted to patronize them. Marketing is defined as a process of satisfying human needs by bringing products to people in the proper form and at a proper time and place. Marketing is the methodology of communicating the value of products and services to customers for the purpose of selling the products and service (Philip, 2005). Marketing has economic value because it gives form, time, place, utility to products and services.
Product branding and design is very crucial to the marketability of products. This is because these elements provide an interface between the product and the customer. It expresses the brand identity of the product, its intrinsic qualities, and philosophy. Branding and design is the product’s first sales pitch, which is of key importance to its market productivity and positioning. The form, colours, design and texture of branded products incite sensations in the customer to draw closer, lift it up for a closer look, read it, handle it, purchase it and take it home for use (ITO Journal, 2009). When branding locally made products, there are some things to be considered, such as the right design and positioning, the company logo, the packaging of the company’s product, and of course, a name that truly express the benefits of the product. Therefore, product naming involves authenticity, a linguistic strategy and creativity to result in, a product’s shorthand identity, most especially for the new innovations as technology keeps on improving in a faster pace. Product branding and marketing is one of the major components of business strategy that aims to identify a company’s product (Ladipo and Rahim, 2013).
The 21st century brought huge competition into the business world, both locally and internationally, businesses today are competing with other businesses for customer retention. Manufacturers now engage in quality branding and packaging of their product making it difficult for consumers to make choices among different competing products. Today’s business world is changing swiftly, and as trends changes, the desires of the consumers are changing as well. Product branding is therefore expected to protect the company’s product as well as increase sales. A lot of firms in the industry have embarked on one strategy or the other in order to gain more market share for their products. In an attempt to get more customers to purchase their products, companies have engaged in different innovations so as to make their product compete with that of competitors, the branding strategy is one way to gain consumer notice (Oladele, 2012). This study seeks an overview of branding and marketing productivity with particular interest on locally made products in Nigeria.
1.2 Statement of the Problem
Despite the alarming rate of branding in the marketing of goods and services, there are still some areas which need to be thoroughly examined. One of such area is winning a customer’s loyalty which is termed brand loyalty. Most manufacturers focus on rebranding their products and fail to work on gaining brand loyalty from customers. Brand loyalty is actually accomplished when the customer’s show repeated buying behavior towards a particular brand. Loyalty comes as a consequence of the customer fulfillment, if customers are fulfilled from the brand functions then they demonstrate loyalty towards the brand and they turn into the heartless of price factor and they will indicate strong interest to purchase a product at any expense. Approximately fifty-three percent of small business owners in Nigeria are unaware of branding and marketing strategies, and 23% of SME owners have insufficient knowledge of branding and marketing strategies (Gundala & Khawaja, 2014). Extant literatures shows that some business owners in Nigeria struggle financially because of their weak brand recognition (Hong & Diep, 2016; Renton et al., 2016). The general business challenge is that most Nigerian manufacturers do not imbibe the culture of branding, and this negatively impacts the productivity of their company. The specific business challenge is that some Nigeria manufacturers lack marketing strategies to improve the financial performance of their companies. This study therefore seek to investigate branding and marketing productivity of locally made products in Homemade Bakery in Uyo Metropolis, Akwa Ibom State.
1.3 Objectives of the Study
The primary aim of this study is to examine branding and marketing productivity of locally made products in Nigeria. The specific objectives are;
- To ascertain the branding and packaging materials used for locally made products in Homemade Bakery in Uyo Metropolis.
- To examine the marketing strategies adopted by Homemade Bakery in promoting their products.
- To determine the influence of branding and marketing on the buying habits of customers and profitability in Homemade Bakery in Uyo Metropolis.
- To find out the possible relationship between branding and marketing productivity in Homemade Bakery in Uyo Metropolis.
1.4 Research Questions
To achieve the objectives of the study, the following questions are formulated:
- What is the quality of branding and packaging materials used for locally made products in Homemade Bakery in Uyo Metropolis?
- Are there specific marketing strategies adopted by Homemade Bakery in promoting their products?
- Does branding and marketing have any influence on the buying habits of customers and profitability in Homemade Bakery in Uyo Metropolis?
- Is there any significant relationship between branding and marketing productivity in Homemade Bakery in Uyo Metropolis?
1.5 Research Hypotheses
The following research hypotheses will be tested in the course of the study;
H0: Branding and marketing does not have any influence on the buying habits of customers and profitability in Homemade Bakery in Uyo Metropolis.
H1: Branding and marketing do have influence on the buying habits of customers and profitability in Homemade Bakery in Uyo Metropolis.
H0: There is no significant relationship between branding and marketing productivity in Homemade Bakery in Uyo Metropolis.
H2: There is a significant relationship between branding and marketing productivity in Homemade Bakery in Uyo Metropolis.
1.6 Significance of the Study
It is often imperative to question what would be the significance of any endeavor, be it academic or otherwise. This is also applicable in this study. The researcher anticipates that at the completion of this study, the findings will be of importance to the management of Homemade Bakery, since bakery business is a highly competitive business locally and internationally. The findings will help the company to intensify their marketing strategies so as to retain loyal customers and boost productivity. Findings from this research would be of great importance by the virtue that, through them, managers of companies would be better positioned to gauge their companies’ performance by adopting the most appropriate packaging and rebranding plan that will enhance the market performance of their products.
The findings of this study would add to the body of knowledge on branding and marketing strategy and their link to organizational productivity. Consequently, to scholars who may be interested in the same area of study, it will serve as a source of reference material and basis upon which further studies can be developed.
1.7 Scope of the Study
Since no single research can validly cover all areas of the topic, the researcher intends to center this study within the scope of how branding and marketing influence organizational productivity. The study will focus primarily on branding and marketing strategies in Homemade Bakery in Akwa Ibom State to be precise Uyo local government area where the marketers, customers and consumers of Homemade products are drawn to enable the researcher carryout out extensive investigation on the subject.
1.8 Limitation of the Study
The researcher is limited by time constraints. Since the semester is very short and has a bulk of academic exercise. The researcher is also constrained by unavailability of funds required for an extensive research of this magnitude. Finally and importantly, most marketers of from the company that were studied lack adequate and organized marketing strategies and decision making system, poor organizational chart and structure also their general unwillingness to corporate or give out information, all, these tends to limit the smooth process of this research.
1.9 Definition of Terms
Branding: A brand is a name, term, design, symbol, or other feature that distinguishes an organization or product from its rivals in the eyes of the customer. Brands are used in business, marketing, and advertising.
Marketing: Marketing is a process of satisfying human needs by bringing products to people in the proper form and at a proper time and place.
Marketing Strategy: Marketing strategy is a process that can allow an organization to concentrate its limited resources on the greatest opportunities to increase sales and achieve a sustainable competitive advantage.
Productivity: Productivity is the efficiency of production of goods or services expressed by some measure. Measurements of productivity are often expressed as a ratio of an aggregate output to a single input or an aggregate input used in a production process, i.e. output per unit of input, typically over a specific period of time.
Product: Anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a want or need. It includes objects, services, person’s places, organization and ideas.
Service: Is any activity or benefit that one party can offer to another that is essentially intangible and does not result in the ownership of anything. Its production may or may not be tied to a physical product.
Consumer Value: Is the different between the values the customer’s gains from owing and using a product and the cost of obtaining the product.
Customer Satisfaction: The extent to which a product perceived performance matches a buyer’s expectations. If the product does not perceive performance, the buyer is dissatisfied. If performances match or exceed expectations, the buyer is satisfied or delighted.
Manufacturer: the owner of a factory or company that produced goods or services.
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