ABSTRACT
The study was on the effect of branding on the marketing performance of selected pharmaceutical products in Abia State. The objectives of the study were to identify the effect of branding in enhancing customer patronage for pharmaceutical products; evaluate the significance of branding in influencing consumer buying behavior for pharmaceutical products; analyze the effect of product branding in enhancing sales volume for pharmaceutical products. A well structured questionnaire was adopted to collect primary data for the study which were analyzed, using multiple regression and simple percentages, the study concluded that product branding has positive effect in the marketing performance of pharmaceutical products and thus recommended that product branding, product differentiation, and market segmentation should be taken seriously in pharmaceutical products.
TABLE OF CONTENT
Title page
Declaration
Certification
Acknowledgement
Dedication
Table of content
List of tables
Abstract
CHAPTER
ONE -INTRODUCTION
1.1
Background
of the study
1
1.2
Statement of problems
2
1.3
Objectives
of study
2
1.4
Research
questions
3
1.5
Research
hypotheses 3
1.6
Significance
of study
3
1.7
Scope
of study
4
1.8
Limitations
of study 4
1.9
Definition
of Terms
5
CHAPTER
TWO – Review of
Related Literature:
2.1
Conceptual Framework 7
2.1.1
Brand Management 7
2.1.2
Brand Name Decisions
10
2.1.3 Fundamental
Requirement in selecting a Brand name and trade mark 12
2.1.4 Benefits of
Application of product Branding Trademark 13
2.1.5 Enviromental and
social Challenges of branding on Consumer Behavior 14
2.2 Theoretical
Theory 14
2.21 Position
Theory
15
2.2.2 Perceived value
Theory 15
2.2.3 Empirical Framework
20
CHAPTER
THREE -
Research Methodology:
3.1 Research Design
20
3.2 Area of Study
20
3.3 Population of the
Study
21
3.4 Sampling
Plan
22
3.5 Determination
of Sample size 22
3.6 Method of Data
Collection 23
3.7 Method of Data Analysis
23
3.8 Data Analysis and
Hypotheses Testing
23
3.9 Validity
24
3.10 Reliabilty
24
CHAPTER FOUR -
Result and Discussions:
4.1 Results
25
4.2 Data
Analysis:
Section
A: Personal Data
26
Section B: General Data
29
4.3 Hypothesis Testing
41
4.3.1 Hypothesis One 42
CHAPER FIVE – Summary, Conclusions, and Recommendations
5.1 Summary
45
5.2 Conclusions and findings
45
5.3
Reccomendations
46
References
48
Source for Information 50
Questionnaire
51
LIST OF TABLES
Table 4.1 Questionnaire
Administration 25
Table 4.2
Question 1; Sex of Correspondents 26
Table 4.3
Question 2; Age of
Correspondents
27
Table 4.4
Question 5; Educational
Qualification
27
Table 4.5
Question 6; Household
size 28
Table 4.6
Question 1; Pharmaceutical
Products carried
29
Table 4.7
Question 2; Does the Product have Trademark? 30
Table 4.8
Question 3; Does the
Company apply Branding? 30
Table 4.9
Question 4; The brand name
of the products 31
Table 4.10
Question 5; Whether the
Company encounters any problems as a
result of product branding.
31
Table 4.11
Question 6; Whether
the company applies market segmentation in the marketing of their products
32
Table 4.12
Question 7; Bases of
Segmentation 32
Table 4.13
Question 8&9; Problems encountered as a result of market segmentation 33
Table 4.14
Question 11&12; The adoption of Product Differentiation and Product features 34
Table 4.15
Question 13; Product
differentiation as a competitive tool in the Pharmaceutical product manufacturing industry 35
Table 4.16
Question 14; The strongest
influence in choosing pharmaceutical Product brand 35
Table 4.17
Question 15; The
relationship between product branding and customer loyalty 36
Table 4.18
Question 16; Does it
increase sales? 37
Table 4.19
Question 17; Monthly sales/
Turnover 37
Table 4.20
Question 18; Initial capital Invested 38
Table 4.21
Question 19; Whether
product branding increases profitability and the rate 39
Table 4.22
Question 21; Estimate of
monthly market expenditure
40
Table 4.23
Question 22&23; The extent of improvement in market share as a result of product branding 41
Table 4.3.1 Summary Table of Regression results of product branding and
relative factors that influence monthly sales and profitability in
pharmaceutical firms 42
CHAPTER
ONE
INTRODUCTION
1.1
Background
Of The Study
Mandell and Rosenbery (1981) defined brand as the name, sign or
design (or combination of the three) that identifies a particular product or
product line and distinguishes it from its competitors. It is also a name, term, symbol or design or
a combination of them, intended to identify the goods or services of one seller
or group of sellers and to differentiate them from those of competitors. A
brand thus adds dimension and differentiate a product or service in some way
from other products or service designed to satisfy the same need. These
differences may be functional, rational on tangible related to product
performance of the brand (Anyanwu, 2000).
A powerful brand name has consumed franchise that is, it commands
strong consumer loyalty. This means that a sufficient number of customers
demand these brand and refuse substitutes even if the substitutes are offered
at lower prices. Companies that develop brands with strong consumer franchise
are insulated from competitions, promotional strategies. Thus, it is necessary
for a supplier to invest heavily in order to create strong global recognition
and preference for its brand name.
Also, the increased competitive nature of the market makes it
obvious that the most possible means of achieving quick sales response is to
embark on product branding.
The
external factors consist of rate of product proliferation with associated
problem of maintaining brand loyalty, poor economic condition has promoted
consumers to seek for price reductions and decrease in advertising efficiency
due to media-clutta and government regulations.
1.2 Statement of Problems
Product
branding is one the major areas that constitute marketing efforts that are
directed to enhance not only customer satisfaction, but also to achieve
competitive advantage in the consumer market. However, the use of branding to
achieve these in the contemporary market has been facing a lot of problems.
Using selected pharmaceutical product in Umuahia, Abia State. as the case
study, the following problems are identified.
Pharmaceutical
product marketing is facing the problem of not creating awareness for people to
know more about the product. Marketing communication and promotional strategy
that is always directed to not only to create awareness but to influence the
consumer behavior so as to gain competitive advantage is not usually easy.
Therefore, media choice and designing the promotional mix constitute a problem
to the marketers.
Also,
Workers motivation and compensation plans and its impact on employee
productivity and market performance are always difficult to measure.
This
study is poised to investigate these problems and then find solutions.
1.3 Objectives
of Study
The major objective of this study is to investigate the impact of
branding in the marketing of pharmaceutical product
However,
the specific objectives are to :
i.
identify
the effect of branding in enhancing customer patronage for pharmaceutical
products;
ii.
evaluate the significance of branding in
influencing consumer buying behavior for pharmaceutical products;
iii.
analyze the effect of product branding in
enhancing sales volume for pharmaceutical products.
1.4 Research
questions
i.
What is the effect of branding in enhancing
customer patronage for pharmaceutical products?
ii.
What is
the significance of branding in influencing consumer buying behavior for
pharmaceutical products?
iii.
What is the effect of product branding in
enhancing sales volume for pharmaceutical products?
1.5 Research Hypotheses
H01:
Branding has no positive effect on the
market performance of pharmaceutical products.
H02:
Branding has no significant effect on
the buyer’s behavior of consumers of pharmaceutical products.
1.6 Significance of Study
The study made the following contributions to the understanding of
the subject matter. Branding identifies and helps to differentiate the goods or
services of one’s seller from those of another. It consists of a name, sign,
symbol or some combination thereof. A brand name is the park that can be
vocalized, such as symbol, design and the pills bury dough body.
Brand is important to customers because it simplifies shopping
facilities, process information concern with purchase option, provide
,confidence that the consumer has made the right decision, help to ensure
quality and often satisfies certain status needs.
Branding also benefit sellers by enhancing the effectiveness of
their marketing programs. Particularly those concerned with promotion. Brand
loyalty which in turn leads to greater profitability since it costs less to
retain customers than to acquire one.
1.7 Scope of Study
For this particular study, selected pharmaceutical products in Abia
State is our focus as it was used as representation of other companies,
industry and much emphasis would be focused on objectives.
The findings gives the reader an idea of branding in the marketing
of pharmaceutical products.
1.8 Limitations
of the Study
The
gathering of needed data for a research study is usually met with a number of
difficulties and constraints. In the research of this work several problems
were encountered.
Firstly,
some consumers thought that the research was for made in Nigeria goods
marketers who needed it for their analysis and market survey and always demand
for a tip before accepting to give responses to the questions asked or to fill
the questionnaires.
Secondly,
to gain access to meet with the staff and management proved abortive since some
of them seemed to be busy or were not around.
Finally,
there were other constrain ranging from time to time is the financial resources
and the stress also delayed the study.
1.9 Definition of terms
Brand: Is defined a name, term, symbol, sign or a
combination of these intended to identify the goods or services of one seller
or group of seller and to differentiate them from those of competitors.
Trademark: Are words, phrases, symbol or design used in
commerce to identify and distinguish the goods of one manufacturer or seller
from those of another and to indicate the source of the goods.
Brand loyalty: Is a result of a consumer behaviour and is
affected by a person’s preferences.
Loyal customers will constantly purchase products from their preferred
brand regardless of conveniences or price.
Promotional mix: Is the combination of personal selling,
public relation advertising, sales promotion, sponsorship, direct mail and
trade shows that are utilized in promoting a good or service.
Sales volume: Is the quantity or number of goods sold or
service sold in the normal operations of a company in a specified period.
Franchise: Is a contractual association between a
manufacturer, wholesaler or service who buys the right to own and operate one
or more units in the franchise system.
Promotional strategy: Is the method used to spread the world about
your product or service to customers, stakeholders and the broader public.
Marketing communications
consists of the messages and related media used to communicate with a market.
Media: Is defined as non-personal communication
channels including prints media (newspaper, magazines, direct mail), broadcast
media (radio, television) and display media (billboard, sign, posters).
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