AN EVALUATION OF THE BRAND MANAGEMENT STRATEGIES ADOPTED BY NIGERIAN BREWERIES PLC
This study was carried out by the research to examine and ascertain an evaluation of the brand management strategies adopted by Nigerian breweries plc. The study examine the twin problems of inconsistency and inflexibility in the brand policy of companies, the researcher used the survey research design to execute this study. The population used by the researcher for this study consisted of all the workers of the Nigeria Breweries Plc and their customers. The researcher used the systematic sample random sample techniques to select the sample used for the study. The researcher used the Yaro Yamane’s formular for sample size determination to determine the sample size for the study. The researcher used the measurement tool (the questionnaire) as the major data collection instrument for this study. Out of the 257 questionnaire administered by the researcher and 200 were returned and analyzed. The research used tables, figures and percentage to present and interpreted the data they generated for this study while they used the test of hypothesis for sample proportion to test the hypothesis they formulated. The major finings of the study are; (1) Brand name makes its easy to recognize a product. (2) Brand name helps to promote a product by making the consumes to identify the product. (3) Branding makes consumers to use the product often. (4) Branding product is being used more then unbranded product because in has negative effect on the user. (5) Branding enhance product quality. The recommendation made by the researcher includes the following: (1) Manufacturers should try its best to the best branding strategy that will be suitable for it target market. (2) These branding strategies will help Nigeria breweries product to attract more customers. (3) Best quality product should identify more customers. (4) Manufactures should register their brand name in corporate affairs commission to avoid copying by competitors. (5) Promotion also should be put in practice to help increase sales on branded products.
TABLE OF CONTENTS
Title Page i
Table of Contents vi
1.1 Background of the Study 2
1.2 Statement of the problem 7
1.3 Objective of the Study 9
1.4 Research Question 10
1.5 Research hypothesis 11
1.6 Significance of the study 11
1.7 Scope and limitation of the Study 12
LITERATURES REVIEW 13
2.1 Brand policies 17
2.2 Objectives of branding 20
2.3 Types of branding strategies 22
2.4 Functions of brand 26
2.5 Characteristic for selecting a good brand name 27
2.6 Brad relevance 28
2.7 Branding as a tool for product positioning 29
3.0 RESEARCH METHODOLOGY 74
3.1 Source of date 74
3.2 Population of study 75
3.3 Determination of sample size 75
3.4 Sampling procedure 77
3.5 Selection and construction of research instrument77
3.6 Administration of research instrument 79
3.7 Method of data analysis 79
4.1 Date presentation and analysis 80
4.2 Test of hypothesis 86
Summary of findings, recommendations and conclusions 94
5.1 Summary of findings 94
5.2 Recommendations 95
5.3 Conclusion. 98
1.1 BACKGROUND OF THE STUDY
Branding began many centuries before the term acquired its modern usage. The creeks and Romans and others before them had various ways of promoting wares or goods, whether they were wines or pots, metals or ointments. Massage would be written informing the public that this man, at this address, could made shoes and that the man who lived over there, at that address was a scribe. The greets also used town criers to announce the arrival of ships with particular cargoes.
According to Room (1998) modern branding and the use of individual brand has its origin in the 19th century.
“A brand is a complex, interrelated system of management decision and consumer reactions that identifies a product (goods, services or ideas), builds awareness of it and create meaning “ (Franzen and Moriarty 2008) According to Keller a brand is therefore a product, but one that adds other dimensions that differentiate it in some way from other products designed to satisfy the same powerful things any company can do to enhance it market power. Successful branding add’s customer value and can provide protection from price competition and pressures towards communization. This involves complex processes of authenticity, reassurance, the development of meaning, the transformation of experience, and differentiation which will eventually move from satisfying a basic human need for control and assurance to becoming a medium of social exchange and social structuration in advanced societies.
The American Marketing Association (AMA) defines a brand as a “name, term, sign, symbol or design, or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of other sellers.
Therefore it makes sense to understand that branding is not about getting your target market to choose you over the competition, but is about getting your prospects to see you as the only one that provides a solution to their problem.
The objective that a good brand will achieve include:
Delivers the message clearly.
Confirms your credibility
Connects your target prospects emotionally motivates the buyer.
Concretes user loyalty.
To succeed in branding you must understand the needs and wants of your customers and prospects. You to this by integrating your brand strategies through your company at every point of public contact.
Your brand resides within the hearts and mind of customer, clients, and prospects. It is the sum total of their experiences and perception, some of which you can influence, and some that you cannot. A strong brand is invaluable as the battle for customers intensifies day by day. Its important to spend time investing in researching, defining, and build your brand. After all, your brand is the source of a promise to your consumer. It’s a foundational piece in your marketing communication and one you to not want to be without.
To understand branding it is important to know what brands are. A brand is the idea or mage of a specific product or service that consumer connect with, by identifying the name, logo, slogan, or design of the company who owns the idea or mage. Branding is when that idea or image is marketed so that it is recognizable by more and more people, and identified with a certain service or product when there are many companies offering the same service or product.
Advertising professionals work on branding not only to build brand recognition, but also to build good regulations and a set of standards to which the company should strive to maintain or surpass. Branding is an important part of internet commerce, as branding allows companies like Nigeria Breweries PLC to build their reputations as well as expand beyond the original product and service, and add to the revenue generated by the original brand.
Branding is also a way to build an important company assets, which is a good reputation. Whether a company has no reputation. Or a less than stellar reputation, branding can help change the company services or product, and can encourage the company to maintain that expectation, or exceed them, brining better products and services to the market place.
“Brand Management” is the application of marketing techniques to a specific product, product line or brand.
Brand management begins with having a thorough knowledge of the term “brand”. It includes developing a promise, making that promise and maintaing it. It means definiting the brand. Brand management is nothing but an art of creating and sustaining the brand. Branding makes customers committed to your business. A strong brand differentiates your products from the competitors. It give a quality image to your business.
Brand management includes managing the tangible and intangible characteristics of brand. In case of product brands, the tangibles include the product itself, price, packaging, etc. while in case of service brands, the tangibles include emotional connections with the product service.
Branding is assembling of various marketing mix medium into a whole so as to give as image of an experienced, huge and reliable business. It is all about capturing the niche market for your product/service and about creating a confidence in the current and prospective customer’s minds that you are the Unique Solution to their problem.
The aim of branding is to convey brand message vividly, create customer loyalty, persuade the buyer for the product, and establish an emotional connectivity with the customers. Branding forms customer perception about the product. It should raise customer expectations about the product. The primary aim of branding as to create differentiation.
Strong brands reduce customer’s perceived monetary, social and safety risks in buying goods/services. The customers can better imagine the intangible goods with the help of brand name. strong brand organizations have a high market share. The brand should be given good support so that it can sustain itself in long run. It is essential to manage all brands and build brand equity over a period of time. Here comes importance and usefulness of brand management
Brand management helps in building a corporate image. A brand manager has to oversee overall brand performance. A successful brand can only be created if the brand management system is competent.
1.2 STATEMENT OF THE PROBLEM
Branding plays very important role in the efficient marketing of products or expressive, it allows the company to dramatize its offering through positioning their product.
Despite the importance of branding and its unpretending role and its restrictive (legal) measures on the product policy, copy right and patent right, people still devour in product imitation, regiment and image in the market place, that is, non-original and unbranded product are placed head long with the original in the market place committing for the same market share.
Nigeria Breweries has a portfolio of high quality brands, including star Lager Beer, Gulder Larger Beer, maltina, which now has three varieties, namely maltina classic, maltina strawberry, and maltina with pineapple, maltina sip it, which was packaged in Fetrapaks, legend Extra stout, and Amstel Malta. The company also re-launched Heineke lager into the Nigeria market.
The poor management of branding has effect the sales of star and Gulder in Nigeria breweries. It is said to observe that most companies operating in Nigeria are still inflexible and reluctant be to during or encourages in their product branding that at the end of the day they fail to achieve their sales revenue target.
All these above discussed problems deserve to be addressed through the provision of appropriate information, because it is only when effective information concerning a problem is provided with its solution be sought.