Branding Strategies, Market Orientation and Corporate Competitiveness of Selected Fast-Moving Consumer Goods (FMCG) in Lagos State, Nigeria
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Date
2023-12
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Lead City University
Abstract
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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Keywords
Market, Business, Branding strategy, Organisation and Consumers