IMPACT OF BRAND IMAGE AND REBRANDING ON CUSTOMERS’ PURCHASING DECISION IN NIGERIAN UNIVERSITIES
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IMPACT OF BRAND IMAGE AND REBRANDING ON CUSTOMERS’ PURCHASING DECISION IN NIGERIAN UNIVERSITIES
Chapter one
INTRODUCTION
1.1 Background of the Study
Gitman’s research-based study from 2008 clearly defines brand image. The image is viewed as part of the process at one point, but it is also associated with sensations at other moments, and it is also understood as information distributed by the organisation at other times. Because brands compete, businesses must understand the importance of maintaining a positive image.
Re-branding, on the other hand, is a continuous shift in the corporate brand’s positioning and representation, as well as a natural component of brand management in reaction to an ever-changing market environment (Gitman, 2008).
When a company takes one step further and attempts to change stakeholders’ opinions of the brand, the process is known as re-branding (Muzellec & Lambkin, 2008). Muzellec and Lambkin (2008) identify two stages of re-branding.
By changing the name, logo, and motto, revolutionary re-branding completely destroys the company’s prior image and builds a new one. Evolutionary rebranding is less drastic, replacing one or two of the three traits while retaining the positioning’s underlying flaws.
In today’s environment, businesses are becoming increasingly interested with individual customer behaviour since it helps them understand how customers think, feel, and choose products.
Consumer behaviour is the study of the processes that occur when individuals or groups choose, buy, use, or dispose of products, services, ideas, or experiences to fulfil wants and desires (Michael R. Solomon, 1998). The enlarged customer perspective covers not only the study of why and what consumers buy, but also how marketers influence them and how they use goods and services.
Customers are in a difficult situation since they are exposed to a wide range of information and products; the numerous options and alternatives available in the market influence their purchasing decision. Internal consumer behaviours such as perception, altitude,
and motivation influence individuals’ interpretations and decisions, as can external variables such as family roles, peer influence, and group influence. The impact of brand image and rebranding on consumer purchase decisions in Nigerian colleges will be examined in this context.
1.2 Statement of the Problem
When asked why they prefer one brand of goods over another for reasons other than price, the majority of customers will instantly respond with “quality.” However, considering that buyers only have what it takes to make an impartial quality difference between alternative product brands in few cases, this response is evaluated sceptically (Michael, 2013).
This category of customers is well-informed, despite its tiny numbers in Nigeria. Furthermore, brand image has a considerable impact on how customers ascribe quality to specific product brands. It’s primarily a product of their imagination.
As a result, marketers who understand how to effectively impact customer decisions and so better position their brand in the minds of customers will surely win the marketing battle (Michael 2013). Despite the foregoing, a number of elements continue to influence customer purchasing decisions,
such as the fact that consumers are price sensitive, albeit this is not always the case, as their consumption is mostly driven by price considerations, particularly in the food sector. As a result, academics from Nigerian institutions will look into the impact of brand image and rebranding on customer purchase decisions.
1.3 Object of the Study
The basic purpose of the study is as follows.
To investigate the impact of brand image on client purchase decisions.
To investigate the impact of rebranding on customer purchasing decisions and the implications for brand owners.
iii. Investigate the variables that motivate a manufacturer to rebrand.
To learn about ways that manufacturers can use to rename their products so that they are more easily purchased.
1.5 RESEARCH QUESTIONS.
The following questions guide this study.
What is the impact of brand image on client purchase decisions?
What effect does rebranding have on the purchasing decisions of customers?
iii. How does re-branding impact brand owners?
What reasons drive a manufacturer to rebrand?
What tactics may manufacturers use to rebrand their products so that they are more easily purchased?
1.6 Significance of the Study
This study will look at the impact of brand image and rebranding on customer purchasing decisions in Nigerian universities.
The study is also significant for manufacturers of consumables and non-consumables because it will expose them to the elements that affect a consumer in deciding or choosing their product over various other products.
This study will serve the academic community by adding to the current literature on the subject of study. It will also benefit other academics who want to conduct additional research on the topic of discourse.
1.7 Scope of the Study
This study will look at the impact of brand image on customer purchasing decisions. The study will also look into the impact of rebranding on client purchase decisions and how this affects brand owners.
Furthermore, the study will look into what elements impact a manufacturer’s decision to rebrand. Finally, the study will look into ways that manufacturers might take to rebrand their products so that they are easier to purchase. As a result, the study is limited to Nestle plc in Ilupeju, Lagos state.
1.8 Limitations of the Study
This study was hampered by the following factors:
Just like any other research, ranging from the unavailability of necessary precise materials on the issue under study, inability to collect data
The researcher experienced financial constraints in obtaining essential resources, as well as printing and collating questionnaires.
Time factor: Another restraint is needing to bounce between writing the research and engaging in other academic activity, which makes it unsettling for the researcher.
1.9 Definition of Terms
Brand image is the overall perception of a product held by current or future customers.
Rebranding is the process of modifying an organization’s corporate image.
Customer purchasing decision: the cognitive process that leads a consumer from identifying a need to generating possibilities and selecting a specific product.
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