THE EFFECT OF BRANDING STRATEGY ON BUYING DECISION ON HOUSEHOLD MEMBERS
THE EFFECT OF BRANDING STRATEGY ON BUYING DECISION ON HOUSEHOLD MEMBERS
1.0 GENERAL INTRODUCTION
1.1 BACKGROUND OF THE STUDY
The twenty first century age represents key changes in the marketing strategies employed by organizations and institutions in order to help them be very competitive and be sustainable in the turbulent market that they find themselves. Today’s consumers live in a world where the purchase of products and services is enormous and continuous (Rindell, 2008).
The survival or success of companies is now dependent on the amount of information that is carefully gathered by the former with regards to the purchasing habits displayed by consumers.
In order to survive in the market, companies are keenly interested in developing strong brands that leads to long term patronage and customer relationships (Hess, Story and Danes, 2011).
Companies inject heavy resources and time into the study of behavioral and sociological factors in order to gain much insight and to understand consumer purchasing patterns. Thus brands represent key assets to companies (Rindell, 2008).
Branding has emerged as part and parcel of modern day marketing strategies and now considered a key organizational asset (Kotler, 2000)
Organizations shifting their focus from a product or market point of view to consumer or customer focus reflect the evolution of marketing. As an implication to this paradigm shift, companies are relentlessly injecting huge resources into understanding their consumers in relation to the 7 p‟s (t product, price, place, promotion, people, process and physical evidence), (Kotler ,1999).
They further resort to underpinning the relationship that exist between consumers spending and the key variables involved in consumer preferences in terms of attitudes, cognition, perception and learning. (Von Moos, 2005).They want to know who their customers are, what they think and how they feel, and how they buy a specific brand instead of others. Companies go to the extent of employing a separate brands manager who sees to the management of the brand. That is serving as a link between the company’s brand and consumers.
In today’s turbulent market place where consumers have an enormous amount of information with regards to products and services at their disposal, yelling louder is not a solution to making you heard or recognized in the market place. Instead, creating an outstanding brand that appeal to consumers (Ahuvia, 2005)
This work aims to understand the theoretical impact of a branding on the decision making process among household members using toothpaste in Ikot Udota, a suburb in Eket Local Government Area.
Competition in the world dental federation has called for dental industries to improve their production and performance not only in terms of pro-health, but also engage in intensive marking activities such as branding, promotion, advertisement. The toothpaste (dental federation) has created the platform for healthy living in terms of protection against tooth holes, which is unhealthy for families.
1.2 STATEMENT OF THE PROBLEM
It is an obvious fact that companies profitability substantiality and of cause variability lies in its ability to influence or convince majority of consumers in the market to buy the goods and service. It provide as such the bottom line of every company operation is focused on how it goods and services will endear them to the consumers loyalty.
To excel in this consumer targets focus, companies adopt different approaches policies and strategies.
However in reality, companies product fail to successfully capture the buying interest and of cause the loyalty of the majority of consumer (i.e. market share) at one point or the other and it cannot be told whether this failure is a attributed to the branding strategy adopted.
The above problem of failure from the basic makes it more clearly for this research which is to elevate and ascertain the effect of branding strategy (i.e. brand policies, royalties and status of branded goods etc.) on buying decision of house hold member of consumer.
1.3 OBJECTIVE OF THE STUDY
For this research to solve the problem the following research objectives are stated:
- Determine whether consumers perception influence brand patronage.
- Determine the impact of branding on decision making among house hold member’s
- To identify the features of a brand that appeal to consumers’
- To investigate whether branding helps to promote a product
1.4 RESEARCH QUESTIONS
Some of these are the basic research questions used:
– How do consumers perceive a particular brand of product in different ways?
– People perception about close up toothpaste affects your buying decision?
– Does branding of a product helps motivate and capture new customers?
– How does brand perception affects the consumer purchasing behaviour?
– Do you agree that consumer perception of price affect the purchase of toothpaste?
Is your purchasing decision motivated by an advertisement appeal of toothpaste?
1.5 SIGNIFICANCE OF THE STUDY
This study is to explore the relations between variables that affect the buying decision of consumer on luxury brand. Understanding of variables such as price, quality and societal status will be able to help further understand how these variables affect the decision making of consumer.
This study will help the present Marketing Managers to better reposition their branding and advertising strategy to capture the correct target market to boost the sales in times where economy are at a challenge.
Consumers would also want to associate themselves with certain brands and this creates an influence in their buying behaviour. However, impulsive customers may not care about brands as much unless influenced by other variables such as price or promotion and lastly, a planned purchase decision can be significantly influenced by marketing and different brands. (Adetayo, 2008, 135).
1.6 SCOPE OF THE STUDY
The topic of the research ‘‘THE EFFECT OF BRANDING STRATEGY ON BUYING DECISION’’ is a very wide topic in itself. Hence, it is imperative to be as brief as possible.
Since most consumers of toothpaste are widely spread and can be found through-out various regions in Nigeria, the scope of this research will be streamlined to cover the users of this product among the student of a private institution of learning in Heritage Polytechnic Ikot Udota Eket, Akwa Ibom State, Nigeria.
1.7 LIMITATIONS OF THE STUDY
Like every other research work, this study has some limitations i.e. obtaining all needed data in most study is usually met with a number of limitations.
The first limiting factors that affected this research are the location of the factories. The company is currently operating in different factory locations and this will be a constraint because relevant data for the research would be collected from different factories all over the country.
Another limiting factor is that Unilever is not the only manufacturer of toothpaste in Nigeria; hence it will be difficult to visit competing companies for example Procter and Gamble (Colgate toothpaste).
1.8 DEFINITION OF OPERATIONAL TERMS
Perception: It is a process by which one become aware of changes through the senses of hearing sight and feeling, in marketing perception it is often described as a process by which a consumer can identifies, organizes, and interprets information to create meaning. A consumer will selectively perceive what they will ultimately classify as their needs and wants. (Kotler, 1980, 65).
Perception is a psychological variable involved in the purchase decision process that is known to influence consumer behaviour. Other variables included in this consumer process include: motivation, learning, attitude, personality and lifestyle. All of these concepts are crucial in interpreting the consumer buying process. (Solomon & Gary, 2010, 124-130).
Sense of hearing, sight, and feeling: it can be also defined as idea, a belief and image you have as a result of how u seed or understand something.
Brand: This can be referred to as the name sign or design that identifies a particular product and distinguishes it from its competitors or any other features that identifies a seller’s good or service. Brand is one of the most valuable elements in an advertising theme, as it demonstrates what the brand owner is able to offer in the marketplace. (Solomon & Gary 2010, 124-130).
Customers: buyers or consumers; a buyer is the customer buying a product of other goods while; consumer is that who buys for final consumption purpose. (Adetayo, 2008, 130).