EFFECTS OF BRANDING ON PRODUCT IMAGE
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EFFECTS OF BRANDING ON PRODUCT IMAGE
CHAPTER ONE INTRODUCTION
1.1 Background of the Study
It is critical for an organisation to raise awareness of the distinctions between its products and those of competitors. Branding is one of the tactics used to differentiate a product so that a company can compete on a non-price basis, i.e. a firm product should be distinguished from competing products.
Companies that sell reasonably standardised products such as soap, toothpaste, and body lotion, or automobiles to a brand market that is pretty homogeneous in its desire for the specific item, frequently employ branding strategies.
According to Kotler and Keller (2006), “to be branded, a product must be differentiated.” Physical products have varying degrees of differentiation potential.
Anyanwu (2006) stated that branding is critical for advertising performance. This is because branding distinguishes between comparable goods from various manufacturers. It assists consumers in identifying the brand identity of diverse products.
A brand may begin with a name, like in the cases of ‘Pears’, ‘Omo’, ‘Lipton’, and ‘Lifebuoy’, but it also includes other important elements such as font, colour, packaging design, and tagline. These are elements that help to create, stimulate, and retain demand.
Confidence and, as a result, image are mostly founded on pleasure with a company’s product and service, as well as working with its personnel. Without realism or value, it is very impossible to develop an image of it. The image of the company or its brand should be a significant source of competitive advantage.
1.2 Statement of the Problem
Obviously, every research activity tries to provide a solution to certain research difficulties or concerns. Choosing a decent brand name is one of the most important responsibilities that an organization’s management must do.
A bad brand name not only ruins the image of a specific product, but it also influences consumer preferences for other products made by the company.
The detrimental impact of giving a terrible brand name to a product needs research into the effect of branding on the image of Unilever Nig Plc products. Many companies use loose terms as their brand names. Sometimes corporations or organisations don’t know what branding strategy to use, which leads to:
1. Lost customers to competitors
2. Drop in sales volume
3. Loss of present market share to underdog competitors.
4. Decrease in the organisation or firm’s new product performance.
1.3 Research Objectives
This research aims to provide solutions to an organization’s branding difficulties, which may directly or indirectly damage the image of their product(s). This research will focus on the following objectives:
1. To investigate the impact of branding on the new product image.
2. To determine whether effective branding has any effect on sales volume.
3. To explore whether branding influences customer purchasing decisions.
1.4 RESEARCH QUESTIONS.
The following questions will be addressed while doing this research:
1. Does branding have an impact on the new product image?
2. Does successful branding have an impact on sales volumes?
3. Does branding influence customer purchasing decisions?
1.5. Research Hypothesis
Hypotheses are provisional claims or arguable assertions regarding the characteristics of a specific population that can be accepted or rejected after thorough examination and testing (Adaramola, 2001).
In this regard, however, every research project must be based on two types of hypotheses: null hypothesis (H0) and alternative hypothesis (H1). The testable hypotheses for this study work are:
Hypothesis 1.
H0: Effective branding has no impact on new product image.
H1: Effective branding has an impact on the new product image.
Hypothesis 2.
H0: Effective branding does not affect sales volume.
H1: Effective branding has an impact on sales volume.
Hypothesis 3
H0: Effective branding does not influence customer purchasing decisions.
H1: Effective branding influences customer purchase decisions.
1.6 Significance of the Study
The study will help management at Unilever Nigeria Plc and other organisations understand the impact of successful branding on their products or product image.
It will also contribute to the academic discipline by providing good and accurate secondary data for future researchers who may be interested in performing additional study on the same course.
1.7 Operational Definition of Terms
Product: Anything that meets the functional requirements of customers.
A brand is a specific name, symbol, or design, or a mix of these, that is used to identify one product from competitors’.
Awareness: Developing a visually appealing brand presentation and allocating sufficient funds for advertising and promotion.
Brand name: A collection of words, letters, or letters that can be pronounced.
Brand markings are parts of a brand that occur in the form of a symbol, design, distinguishing colour, or text.
Market: All possible clients that have a specific need or want and are willing and able to trade something to meet those needs and wants.
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