EFFECTS OF BRANDING ON CONSUMER PREFERENCE OF CONSUMER GOODS (A STUDY OF PZ NIGERIA PLC) )

ABSTRACT

Consumers are regarded as king who have the power to determine the success or otherwise of a product The major problem is whether the consumer is still exercising the power or not. The purpose of this study. Is to determine why consumers prefer one brand of competitive product to others. It also tested some hypothesis. Data collection for this work was done through the use of questionnaire. Personal interview and the test. Tables were also used to present, classify and convey reasonable choice questions. The population of the study was (240) two hundred and forty while the sample size is 150 made of management of the company and customers was used. Major findings made were that consumers prefer branded products to unbranded ones; branding encourages repeat purchases; and branding ultimately increases sales. The researcher recommended that the brand name have to be expressed/exposed extensively so that potential customers could be sure of what they want and to relate to the products quality to the manufacturers co-operate as is reflected in the brands they carry.

CHAPTER ONE

INTRODUCTION

1.1     Background of the Study

Various products have been branded using various signs, terms letters, symbols, designs or combination of all these. Branding of product seems to help the consumer to determine which product to purchase at any point in time. Different authors and authorities have written on the topic. For instance, Kalu (2009: P129) defines branding as the use of name, term, symbol or design or a combination of these to identify a product. It includes the use of brand names, trademarks, and practically all other various means of branding products. According to Zikmund, and Damico (2002) defines branding as die use of name, term, symbol, design or combination of these that identifies the seller's goods and services and distinguish them from competitors products. This helps the consumer to identify a product through his brand name and trademark.

(Kotler (2007)) defines branding as a name, terms, symbols, or special design or some combination of these elements that is intended to identify the goods and services of one seller or group of sellers.

Branding name consists of word, letter and number that can be vocalized. A brand mark is the part of brands that appears in the form of a symbol, design to distinctive colouring or lettering. It is recognized by sight, but it is not expressed when a person pounces the brand name. In considering tooth pest, for example, the dental protection test and cleaning past combines each brand of both paste. It combines these attributes in different proportions.

Furthermore, the individual consumer will place different value on. These various attribute reflecting what he or she is seeking. Thus, each brand offers the consumer a certain total utility at certain price. Respite the various numbers of brands in the mark, certain brands consistently command the preference buyer of various brand of baby oil that exist in the market. Peers baby oil brand over 75% consumers prefer coke to the other brand of soft drinks that coca-cola products of the many brands of nose inhalers that exist in the market, a high percentage users by Vicks. Brands are however, registered in the minds of consumers. Local brands are often extremely popular in their restricted markets. It is difficult for manufacturer of a new to enter such market. Branding may be defined as the use of a name, term, symbol, design, design or some combination of these to identify the product of a certain seller from those of competitors. The term branding is comprehensive enough to include almost all methods of identifying the product except perhaps the package and the shape of product itself.

The brand name is that part of the brand, which consumer, middlemen and manufacturers refer to the products. Branding of products in marketing is more advantageous to both the consumer and the marketers. To the consumers, it makes shopping feasible assure regular satisfaction and proves a dependable guide to qualify and many creates a kind of class, consciousness on the mind of the consumers.

Product branding, to a large extent helps increase the profit level of various firms and as well lead the consumers to the products of their choice. In fact, creates goodwill on some products, such that various consumers will rather prefer to buy a particular product at the expense of the other existing ones. This research will certainly try to find out the effects of such brand preferences on both firm and the consumers.

1.1.1 Statement of the Problem

In the manufacture and production industry, company managers adopt different mechanisms and marketing tools for effective and efficient sales volume, turnover, market share, profit maximization. Among these tools are advertising branding and packaging.

According to Kotler 2007,  He said "one man's meat is said to be another man's poison". These identified mechanisms and tools are believed to have influence, impact and effects on the company objectives but no one is sure if they are positive or negative. In line with the dichotomy on the best motivational or marketing tool to adopt "Branding" was chosen and this work has a problem it wants to solve which is to ascertain "impact of branding on consumers product" How well do customers consider a branded product, if it has any influence, impact or effect in a company's product/ consumer goods objectives.

1.2 Objectives of the Study

The main objective of the study is to determine the effect of branding on     consumer loyalty.

1. To ascertain the effect of branding on achieving sales volume of the
company.

2. To ascertain the effect of branding on customer loyalty

3. To ascertain the effect of branding on ,market share

1.3 Research Question

The following questions will be addressed:

1. Does branding has effect on achieving sales volume of the company

2. Does branding has effect on customer loyalty

3. Does branding has effect on market share

1.4 Research Hypothesis

The following hypothesis stated the null (Ho) forms will be considered.

Ho1: There is no significant relationship between branding and sales volume.

Ho2:  there is no significant relationship between branding and customer loyalty.

Ho3: There is no significant relationship between branding and market share.

1.5 Significance of the Study

This project tries to look at the effects of product branding on consumer preference in industries. It equally tries to analyze the role product branding has played in PZ Cussions Nigeria Plc Aba.

This study will enable the researcher to provide the company under study with better ways of product branding in order to draw more customers and to increase the sales of its products.

This research work will also help indigenous companies to offer brands that will
meet the changing needs of customers and to achieve their desired profit levels.
This research will serve as a reference material to the researchers: '

THE SOCIETY

The study is aimed at educating the general public on the role a brand
plays on their psychology, it will make it easy for consumers to identify the companies brand easily.

1.6 Scope and Limitations of the Study

This research work on effect of product branding on consumer preference is focused on the case study of P.Z Cussions Pic in Aba, due to time constraint to take a brand research in adequate finding. This would touch those area the researcher considered to be necessary and relevant in achieving these objectives of the study.

However; several factors have hindered the researcher from conducting a vest study nationwide, such factors are as followed:

1. Financial Problems: This study involved commitment of jump sum of
fund in the field work-raising from high cost of printing and transportation.

2. True constraint: This time allocated for this project work is very short
within this time frame, the researcher had other academic exercise to take care of lectures were attended, test and exams were also taken. The time was not considered enough to embark on this type of extensive research work.

3. Attitude of Workers: The researcher was not allowed to have access
to interview, most of the top officers by their secretary thereby making to
be difficult for researchers.

1.8 Definition of Terms

ADVERTISING: Advertising   is   any   form   paid   public   advancement of presentation, which is aimed at the promotion of the sales of goods and services at guiding acceptance for any idea or point of view.

BRANDING: Branding is a name, term, symbol or special design or some combinations of these elements that intended to identify the goods or services of one seller or group of seller.

BRAND NAME: Brand name is that part of a brand which can be vocalized the utter able.

MARKETING: Marketing is a total system of business activities plan, price, promotes, and distributes wants satisfying products and services to present and potential customers.

PRODUCT PREFERENCES: Product preference is consumer's acceptance of one product brand to the other.

PRODUCT: Product is a physical entity and, service which satisfy certain

Customer’s or customers' need.

TRADE MARK: Trademark is the brand that is given protection because under the law has been appropriate by one seller.

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