MODERN BRAND MANAGEMENT STRATEGY IN NIGERIA -A STUDY GLO NIGERIA LTD, LAGOS-ISLAND LAGOS
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CHAPTER ONE
INTRODUCTION
1.1 Background to the Study
The evolution of the study of brand management strategy dates back into the ancient times. Organization used rare customer service, symbols and pictorial signs to attract their product users. Over the centuries, these elements were used to instill a positive buying decision in customers (Jalees, 2006).
Brand management strategy is a business management technique that aligns business objectives, and consumer needs to form a cultural system that defines the organizations decisions and actions. It is a company culture in which employees “live” to brand values, to solve problems and make decisions internally, and deliver a branded customer experience externally. It is the desired outcome of an internal branding, internal brand alignment or employee engagement effort that elevates beyond communications and training (Khan, 2012).
A brand in order to be relevant to customers must operate much like a culture. A company must develop an ethos and a worldview that it absolutely believes in and then should act in accordance with it to suit the modern trend. Everything the company does – every product or service it offers, every public statement, advertisement, website, internal policy, memo and business decisions it makes must be congruent with that ethos and worldview. If the brand truly represents an ethos and worldview which are attractive to customer they will embrace the brand as part of their own identity. They will join the brand culture and participate in that culture as a way of expressing to the rest of the world who they are and what they believe in.
Strong brand in the market competition is the main goal of many organizations because it allows the creation of a wide range of benefits to organizations including reduced risk, greater profits, cooperation with other parties as well as the opportunity for brand extension (Schiffman & Kanuk, 2010).
Brand image is regarded as opinion and consumer confidence in the quality of products produced by organizations and organizational honesty in the products offered to consumers (Perreault & McCarthy, 2009). In the analogy stated that if a consumer think that the organization has a consumer oriented perspective, so consumers have confidence in the brand over the image of the brand owned by the organization (Munuera-Aleman, 2005).
Modern brand management strategy that is targeting the masses goes beyond the product to include how people experience the product. Modern brand management strategy refers to the cultural codes of brands “ history, images, myths, art, theatre “ that influence brand meaning and value in the marketplace.
Keller (2003) and Biel (1992) stated that a positive Brand culture is created when a person associate him/herself with a particular brand with unique association and that person could recommend that brand to another person and hold a positive attitude towards that brand. This brand culture has a direct impact on the buying decision of the customer. Asim Nasar et al. (2012) stated in their research study that a number of companies give valuable consideration for building brand culture and utilize capital for formulating and executing marketing strategies and practices. They further argued that Brand culture is one of the most powerful aspects that establish the reputation of a specific brand in the marketplace. Without a positive and strong Brand Culture, companies cannot get a great part of the customer in the market share.
Blackwell (2001) observed that customers’ buying decision is a set of activities in which they possess, consume and dispose products and services. Teng, Laroche and Huihuang (2007) stated that purchase intention of the specific brand needs assessment of all available Brands. Customers experience diverse assessment criteria when making any purchase decision for example brand, prices, features, quality, performance, user friendliness and convenience (Khan, 2012). Research conducted by Conner and Armitage (1998) also observed that when a person decides his/her future purchase with the help of his/her past experiences of purchases, one can predict the intention of that person in the future too. D’Souza et al. (2006) stated that if a person get benefit from his/her previous purchase, he/she will tell about that experience to others and also purchase that product or services.
1.2 Statement of the Problem
The strong objection and arguments against modern brand management strategy in Nigeria are buttressed below:
Attracting Customers are more difficult nowadays due to the challenges of competition among other brands and the need to maintain the volume of business that organization faces. The competition challenge has three major implications for what customer wants such as increased choice, greater value of money and augmented level of service.
Low psychological factors among the masses such as mental processes or perceptions and motivation can negatively affect the acceptance of a brand culture in an environment. People tend to disassociate themselves from a brand when they are psychologically sad or unhappy.
Biased perception from peer group and reference groups can negatively influence attitude towards a brand, thereby resulting into low sales of a particular product.
1.3 Purpose of the Study
The main purpose of this research is to examine modern brand management strategy in Nigeria. The objectives include:
- To evaluate the impact of modern brand management strategy on customer buying behaviour.
- To examine the effect of modern brand management strategy on advertisement.
- To find out if perceived attitude of family roles and reference groups affect brand culture.
- To examine the effect of modern brand management strategy on product performance.
1.4 Research Questions
In assessing the purpose of the study, this research project attempts to answer the following questions:
- Does modern brand management strategy have any effect on customer buying behaviour?
- To what extent will modern brand management strategy affect advertisement?
- Does perceived attitude of family roles and reference groups have any effect on brand culture?
- How effective is modern brand management strategy on product performance?
1.5 Research Hypotheses
In carrying out this research work the following hypothetical statements were outlined for the study:
- Ho: There is no significant relationship between modern brand management strategy and customer buying behaviour.
H1: There is significant relationship between modern brand management strategy and customer buying behaviour.
- Ho: There is no significant relationship between modern brand management strategy and product performance.
H1: There is significant relationship between modern brand management strategy and product performance.
1.6 Scope of the Study
This research work examines modern brand management strategy in Nigeria with a view to explore Glo Nigeria Ltd, Lagos-Island, Lagos.
1.7 Significance of the Study
It is hoped that the findings and recommendations of the study will be of great benefit in the following ways:
The study will broaden students understanding about the brand culture on customer buying decision and pattern plus it effects on sales volume.
The study will be of great benefit to the public by bringing to their awareness the effect of brand culture on reference groups and family ground and how it affect their perception about a product.
The study will also help sales manager to monitor the trend of the market and the consumption pattern in order to establish an interactive dialogue between an organization brand culture and its customers. The finding of the study would assist the management in consolidating on the strength of their products; expand on the untapped opportunities while at the same time working to correct the threat to brand culture.
It will also help the sales personnel to reposition their branding and marketing strategy in the society in order to attract and retain their target market.
1.8 Operational Definition of Terms
Brand: A brand can be defined as a name term, sign, symbol or design, or a combination of these, that is intended to identify the goods and services of one businesses or group of businesses and to differentiate them from those of competitors.
Brand loyalty: Brand loyalty is a pattern of consumer behavior where consumers become committed to brands and make repeat purchases from the same brands over time.
Brand culture: Brand culture is a company culture in which employees “live” to brand values, to solve problems and make decisions internally, and deliver a branded customer experience externally.
Customer: This refers to a person either male or female who buys the product of an organization.
Management Strategy: The systematic analysis of the factors associated with customers and competitors (the external environment) and the organization itself (the internal environment) to provide the basis for maintaining optimum management practices.
Product Attribute: This can be defined as characteristics by which products are identified and differentiated. They comprise features, function, benefits and of the products.
Project Overview
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