Marketing

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    Advertising Messages and Consumer Stimulus-Response of Fast-Moving Consumer Goods in Lagos State, Nigeria
    (Lead City University, 2023-12) Oluwafuntan Abiola KUTI
    Despite the advent of customer relationship marketing, companies continue to struggle with the issue of consumer stimulus response. This is also evident in the Nigerian fast moving consumer goods, otherwise known as household brands. Premised on this assertion, the study assessed the effect of advertising messages on consumer stimulus-response of selected household brands in Lagos, Nigeria. Specifically, the study disaggregated Consumer stimulus-response into customer awareness, customer interest, customer conviction and customer action. Meanwhile, the advertising message was disaggregated into source credibility, social imaging, entertainment and message appeal. This study adopted a descriptive survey research design, and the infinite population of customers of FMCGs in Lagos State. Sample of 384 respondents were computed using the Conchran formula. The study adopted a multi-stage sampling technique. A validated questionnaire was used to collect data. The Cronbach’s alpha reliability coefficients for the constructs ranged from 0.738 to 0.87.The response-rates of 89.1% were obtained. Data were analysed using descriptive and inferential statistics. Findings revealed that source credibility have significant effect on awareness of fast-moving consumer goods (R2=0.352 p=0.000). Social imaging has significant effect interest in fast moving consumer goods (R2=0.455; p=0.000). Entertainment significantly stimulates conviction in using of fast-moving consumer goods (R2=0.268; p=0.000). Message appeal have significant influence consumer action of fast-moving consumer goods in Lagos State, Nigeria (R2=0.288; p=0.000). This study concluded that advertising messages affects consumer stimulus-response of selected household brands in Lagos, Nigeria. The study recommended that management of the selected FMCGS brands should continuously develop products and ensure such products are advertised in the right manner, while ensuring the message appeals to the ears and hearts of consumers. Keywords: Advertising messages, Awareness, Consumer Stimulus-Response, Conviction, Message Appeal, Source Credibility. Word Count: 265
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    Brand Management Practices and Market Performance of Fast-Moving Consumer Goods in Lagos State, Nigeria
    (Lead City University, 2023-12) Ademola Joshua, ADENIRAN
    Many consumer packaged goods (FMCG) companies in Nigeria, particularly in Lagos State, are suffering from a continuous loss in market performance as a direct result of difficulties related with brand management practises. In addition, the market performance of FMCG companies in Nigeria experienced a decline in profitability, sales growth, customer retention, and market share. This trend is symptomatic of difficulties connected with poor brand management practises by FMCG companies operating in an environment that is extremely competitive and dynamic in nature. Hence, this study investigated the effect brand management practices (internal branding, brand equity, brand orientation and brand value) on market performance of fast moving consumer goods in Lagos State, Nigeria. This study adopted a descriptive research design, and the population consisted of 18,382 employees from the five FMCG companies that were chosen for the study. The Taro Yamane formula was utilised to arrive at a sample size of 508 employees. The study adopted stratified random sampling technique to select employee in the selected FMCG’s firms. A validated questionnaire was used to collect data. For the purpose of data collection, a validated questionnaire was utilised. There was a wide range of values for the Cronbach's alpha reliability coefficients for the constructions, from 0.71 to 0.87. A response rate of 84.84% was achieved for the fast-moving consumer goods in Lagos State, Nigeria. Data were analysed using descriptive and inferential statistics (Multiple and Hierarchical regression). Findings revealed that brand management practices have significant effects on profitability of fast moving consumer goods in Lagos State, Nigeria (Adj R2= 0.081, F(4,427)= 10.484, p=0.000). Brand management practices had significant effect on market share of fast moving consumer goods in Lagos State, Nigeria (Adj R2= 0.026, F(4,427)= 3.839, p= 0.000). Brand management practices had significant effect on sales growth of fast moving consumer goods in Lagos State, Nigeria (Adj R 2= 0.119, F(4,427)= 15.600, p= 0.000). Brand management practices had significant effect on customer retention of fast moving consumer goods in Lagos State, Nigeria (Adj R2= 0.058, F(4,427)= 7.629, p= 0.000). Brand management practices had significant effect on market performance of fast moving consumer goods in Lagos State, Nigeria (R² = 0.070, F(1, 430) = 32.317, p = 0.000). Brand culture have no significant moderating effect on the association between brand management practices and market performance of fast moving consumer goods in Lagos State, Nigeria (ΔR2= 0.004, F(3,428)= 11.486, p= 0.177). In light of these findings, it can be concluded that effective brand management practices play a pivotal role in significantly improving the market performance of Fast-Moving Consumer Goods (FMCG) companies in Lagos State, Nigeria. The study recommended that management of FMCG firms should embrace brand management practices for the purpose of strengthening their brands which will result to improved market performance. By prioritising brand management, these companies can gain a competitive edge, build consumer trust, and consequently witness a marked improvement in their market performance, leading to increased sales and market share in a dynamic and highly competitive environment. Keywords: Brand management practices, Brand equity, Brand orientation, Brand value Brand culture, Internal branding Market performance Word Count: 510
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    Brand Management Practices and Market Performance of Fast-Moving Consumer Goods in Lagos State, Nigeria
    (Lead City University, 2023) Ademola Joshua, ADENIRAN
    Many consumer packaged goods (FMCG) companies in Nigeria, particularly in Lagos State, are suffering from a continuous loss in market performance as a direct result of difficulties related with brand management practises. In addition, the market performance of FMCG companies in Nigeria experienced a decline in profitability, sales growth, customer retention, and market share. This trend is symptomatic of difficulties connected with poor brand management practises by FMCG companies operating in an environment that is extremely competitive and dynamic in nature. Hence, this study investigated the effect brand management practices (internal branding, brand equity, brand orientation and brand value) on market performance of fast moving consumer goods in Lagos State, Nigeria. This study adopted a descriptive research design, and the population consisted of 18,382 employees from the five FMCG companies that were chosen for the study. The Taro Yamane formula was utilised to arrive at a sample size of 508 employees. The study adopted stratified random sampling technique to select employee in the selected FMCG’s firms. A validated questionnaire was used to collect data. For the purpose of data collection, a validated questionnaire was utilised. There was a wide range of values for the Cronbach's alpha reliability coefficients for the constructions, from 0.71 to 0.87. A response rate of 84.84% was achieved for the fast-moving consumer goods in Lagos State, Nigeria. Data were analysed using descriptive and inferential statistics (Multiple and Hierarchical regression). Findings revealed that brand management practices have significant effects on profitability of fast moving consumer goods in Lagos State, Nigeria (Adj R2= 0.081, F(4,427)= 10.484, p=0.000). Brand management practices had significant effect on market share of fast moving consumer goods in Lagos State, Nigeria (Adj R2= 0.026, F(4,427)= 3.839, p= 0.000). Brand management practices had significant effect on sales growth of fast moving consumer goods in Lagos State, Nigeria (Adj R2= 0.119, F(4,427)= 15.600, p= 0.000). Brand management practices had significant effect on customer retention of fast moving consumer goods in Lagos State, Nigeria (Adj R2= 0.058, F(4,427)= 7.629, p= 0.000). Brand management practices had significant effect on market performance of fast moving consumer goods in Lagos State, Nigeria (R² = 0.070, F(1, 430) = 32.317, p = 0.000). Brand culture have no significant moderating effect on the association between brand management practices and market performance of fast moving consumer goods in Lagos State, Nigeria (ΔR2= 0.004, F(3,428)= 11.486, p= 0.177). In light of these findings, it can be concluded that effective brand management practices play a pivotal role in significantly improving the market performance of Fast-Moving Consumer Goods (FMCG) companies in Lagos State, Nigeria. The study recommended that management of FMCG firms should embrace brand management practices for the purpose of strengthening their brands which will result to improved market performance. By prioritising brand management, these companies can gain a competitive edge, build consumer trust, and consequently witness a marked improvement in their market performance, leading to increased sales and market share in a dynamic and highly competitive environment. Keywords: Brand management practices, Brand equity, Brand orientation, Brand value Brand culture, Internal branding Market performance Word Count: 510
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    Branding Strategies, Market Orientation and Corporate Competitiveness of Selected Fast-Moving Consumer Goods (FMCG) in Lagos State, Nigeria
    (Lead City University, 2023-12) Akeem Adedayo MUSARI
    In today’s competitive market, multitude of rapid changes are continually transforming business with branding strategies. The study examined how market orientation mediate the effect of branding strategies on corporate competitiveness of selected fast moving consumers goods (FMCG). in Lagos State, Nigeria. The study adopted survey research design for the methodology and carefully employed convenience random sampling techniques to administer the questionnaire. Population of the selected FMCG was 18,382 and the sample size derived for this study was 490 elements using Raosoft sample size calculator. Questionnaire was adopted in order to obtain information from the focus population concerning the current status of the study through primary data collection. The study adopted a descriptive and inferential statistic using mean and partial least squares – structural equation model (PLS-SEM). A total of four hundred and seventy-seven (477) copies were returned and four hundred and sixteen (416) copies were certified as duly filled and considered usable with 84.8% response rate. The findings in this study revealed that indirect effect shows a path analysis from Branding strategies → market orientation → corporate competitiveness (β=0.141, t= 2.158, p= 0.000) and Q2 value (0.560, 0.331) proves that the indirect path is significant. the result posits that the impact of branding strategies has on corporate competitiveness is partially as a result of the market orientation in place the FMCG investigated in Lagos state, Nigeria. The effect branding strategies have on corporate competitiveness of FMCGs is partially explained through deploying market orientation. The study concluded that branding strategy components have positive and significant effect on corporate competitive using market orientation as a mediator. The study therefore recommended that organisation need to undertake and improve on brand building practice due to dynamic changes in competitive marketing environment. The study further recommends that for the branding strategies to succeed, organisation should develop strong association between the brand and the consumers. Keywords: Market, Business, Branding strategy, Organisation and Consumers Word Count: 300 words
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    Digital Marketing and Buyers’ Purchase Intention of Household Products in Abeokuta Metropolis, Nigeria
    (Lead City University, 2023-12) Abimbola Omolade ODUBANJO
    The increasing digitalization tools are causing serious problems for marketing people. They continue to experience growing, complex and rapidly changing markets that are beyond their control. Despite the growth rate of internet marketing, observations and inferences based on the strength of empirical substantiations show that the intensity of internet shopping acceptance in Nigeria is still very low irrespective of the current gush in the number of internet users. Hence, the main objective of this study is to examine the influence of digital marketing on buyer’s purchase intention of household products in Abeokuta, Nigeria. The study adopted cross-sectional survey research design. The total population of the two local Government equates to four hundred and forty-nine thousand, and eighty-eight (449,088) households’ buyers in Abeokuta, Ogun State. A sample size of 600 was obtained using Bowley sampling technique. Convenience sampling technique was adopted to select the respondents. A structured questionnaire was adapted and validated for data collection. Finding revealed that digital/online advertising have significant influence on buyers’ purchase intention (β = .473; t = 10.886; p<0.05). Furthermore, content marketing have significant influence on buyers’ purchase intention (β = .473; t = 10.886; p<0.05). Lastly, social media marketing have significant influence on buyers’ purchase intention of household products in Abeokuta, Nigeria (β = .622; t = 16.102; p<0.05).Based on the empirical findings, this study concluded that there was a statistically significant influence of digital marketing on buyers’ purchase intention of household products in Abeokuta, Nigeria. The study recommended that management of household products in Nigeria especially Abeokuta should come up with sound digital marketing procedures which can be integrated in the day to day operations of businesses so as to be able to boost the sales of fast moving consumer goods and thus improve revenue. Keywords: Buyers’ Purchase Intention, Content Marketing, Digital Marketing, Digital/Online Advertising, Social Media Marketing Word Count: 291
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    Promotional Strategies and Customer Patronage among Telecommunication subscribers in Ogun State, Nigeria
    (Lead City University, 2022-12) Zainab Funke BAKO
    In today’s world of fierce competition in the business sector, it is expedient that organizations adopt the best promotional strategies that will enable business organizations outshine their competitors whilst increasing customer patronage. It is against this background that this study was embarked upon to investigate the influence of promotional strategies on customer patronage among telecom subscribers in Nigeria. The study adopted a cross-sectional survey research design. The population of the study comprises of customers of four telecommunication service providers in selected local governments in Ogun State. The target population was 8.5million active subscribers in Ogun State. A sample size of 462 was computed using Raosoft online sample size calculator. A structured questionnaire was adopted in collecting data for the study. The reliability statistic has Cronbach’s Alpha coefficient ranging from 0.72 to 0.87. The collected data were analyzed using descriptive and inferential statistics using SPSS version 25. From the result of the regression analysis, the study found that advertising has positive and significant effect on customer patronage (R 2 = 0.181, F(1,248)= 54.943, p= 0.000); Sales promotion has positive and significant effect on customer patronage (R 2 = 0.28, F(1,248)= 97.950, p= 0.000); Public relations have positive and significant effect on customer patronage (R 2 = 0.482, F(1,248)= 230.642, p= 0.000); Direct marketing has positive and significant effect on customer patronage (R 2 = 0.118, F(1,248)= 33.175, p= 0.000); and Promotional strategies have positive and significant effect customer patronage (Adj R 2 = 0.749, F(4,245)= 187.046, p= 0.000) among telecom subscribers in Ogun State, Nigeria. Based on the findings, the study concluded that promotional strategies had significant effect on customer patronage among telecommunication subscribers in selected local governments in Ogun State. The study recommended that telecom firms should reinvent their promotional strategies and offer greater value across the products categories offered to the customers. Word Count: 298 Keywords: Advertising, Customer patronage, Direct marketing, Public relations, Sales Promotion
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    Psychological Factors and Consumer Buying Behavior of Fast-Moving Consumer Goods Firm in South West, Nigeria
    (Lead City University, 2023-12) Adekunle, ADEFEMI
    Psychological factors are important factors for understanding consumer behavior. Consumers are very sensitive due to changes in environment factors but it is not always the case in fast moving consumer goods because their consumptions are merely driven by some factors, like feelings, motivation, lifestyle, opinions, culture, personality, social class, reference group, family, opinion leaders, and culture/belief. Therefore, there is a need to understand how these factors interact in affecting consumer buying behavior of fast moving consumer goods in Nigeria. Similarly, extant studies on the consumer behavior of fast moving consumer goods have attempted to elucidate on the challenges of fast moving consumer goods and the attendant supposed solutions, conversely, most of the extant research focus more on developed countries than developing countries such as Nigeria. Hence this study examined the effect of psychological factors on consumer behavior of selected fast-moving consumer goods firms in South-West, Nigeria. A cross sectional survey research design was adopted. The population of the study includes customers of selected fast- moving consumer goods firms in South-West, Nigeria while Cochran (1963) formula was used to get a sample size of 500. A purposive sampling technique was adopted. A validated questionnaire was used to collect data. Cronbach’s alpha reliability coefficients for the constructs ranged from 0.704 to 0.856. The response rate was 87.2%. Data was analyzed using descriptive and inferential statistics. Findings revealed that psychological factors (personality, perception, learning, and attitude) has a significant effect on customer behaviour of selected FMCGs in South West Nigeria (R2 = 0.328, F(4,434)= 211.818, p= 0.000), psychological factors has a significant effect on consumer preference of selected FMCGs in South West Nigeria (Adj R2 = 0.158, F(4,431)= 21.426, p= 0.000), psychological factors has a significant effect on customer acquisition of selected FMCGs in South West Nigeria (Adj R2 = 0.302, F(4,431)= 48.050, p= 0.000), psychological factors has a significant effect on customer loyalty of selected FMCGs in South West Nigeria (Adj R2 = 0.235, F(4,431)= 34.391, p= 0.000), psychological factors (personality, perception, learning, and attitude) has a significant effect on customer repurchase intention of selected FMCGs in South West Nigeria (Adj R2 = 0.151, F(4,431)= 20.401, p= 0.000) and product quality has a significant mediating effect on the relationship between psychological factors and consumer buying behaviour in the selected fast moving consumer goods firms in South West Nigeria (β=0.182, t= 2.498, p= 0.000). The study concluded that psychological factors (personality, perception, learning, and attitude) have a significant effect on customer behaviour of selected FMCGs in South West Nigeria. The study also concluded that product quality has a significant mediating effect on the relationship between psychological factors and consumer buying behaviour in the selected fast moving consumer goods firms in South West Nigeria. The study recommended fast moving consumer goods firms should conduct regular assessments of their customers' perceptions of their brand, attitudes, and quality perceptions. As a result, they will be able to determine whether their product is of enough quality and, if not, make the required changes. Keywords: Psychological Factors, Consumer Behaviour, Product Quality, FMCGs Industry Word Count: 504