In any organization, branding is a critical problem. This is because a company’s business will be tough to run efficiently and profitably without proper product branding. This research of lifestyle branding as a way of improving product appeal – a study of life bears in the southeast – cannot be overstated in terms of its value. The findings of this research will be advised to a Nigerian beer company, and they will be utilized to provide instructions on the value of lifestyle branding and how it can be used to enhance consumer numbers. After analyzing the data, we discovered that lifestyle branding boosts product appeal among customers and offers financial returns for the company.
BACKGROUND OF THE STUDY
Brands and branding have existed for as long as artifacts of human existence can be traced. A brand is a name, term, design, symbol, or any other attribute that distinguishes one seller’s good or service from that of other sellers or competitors, according to the American Market Association (2010). In the nineteenth century, shrewd entrepreneurs discovered that if they could ensure quality and consistency, they could charge more for an otherwise standard commodity; they usually claimed that their branded goods had some unique features that justified the higher price (Doyle, 2001).
Companies must sell both their goods and themselves in today’s economic climate. Companies must sell both their goods and themselves in today’s economic climate. This gives them an advantage over their competitors and allows them to stand out. Coca-Cola, for example, is well-known not only for its cool beverages but also for its lifestyle. For some customers, drinking Coca-Cola implies much more than just having a cool drink or opting for Pepsi over Coca-Cola, despite the fact that both are roughly the same price. Because of the Coca-Cola brand, Coca-Cola has a competitive edge against Pepsi. Coca-Cola has been able to establish a long-term relationship with its customers and make a connection with them through branding, and as a result, their customers remain loyal. Coca-Cola is one of the most well-known brands in the world (Melin, 2001).
The vision and objectives of a corporation are outlined in a communication plan. To make the concept of a communication strategy work, most, if not all, businesses have a Public Relations and Marketing department that ensures the company’s positive reputation is kept, built, and maintained. In Nigeria, competition between different bears has increased. Brand recognition is earned by a brand that is well-known in the marketplace. A brand is considered to have acquired brand franchise when its recognition has grown to the point where it has a critical mass of favorable sentiment in the marketplace. People are most likely to recognize a brand when they can state it without being overtly exposed to the company’s name, but rather through visual signifiers like as logos, slogans, and colors, as discussed above.
Life Continental Lager Beer is a high-quality lager beer from Nigerian Breweries Plc’s stables, prepared with the finest grains, hops, and water. Life Continental Lager Beer is skilfully brewed to provide the rich, crisp distinctive taste and well-rounded scent that the master brewers are known for. Life is better when shared, and progress is made when life is shared. This is the key brand value of Life Continental Beer, a great-tasting beer that promotes and refreshes a life-long tradition of sharing and advancement.
Nigerian Breweries Plc is the country’s first and largest brewing enterprise. It caters to the Nigerian market and exports to other West African countries. The first Nigerian Breweries was established in 1946.
STATEMENT OF PROBLEM
In any organization, branding is a critical problem. This is because a company’s business will be tough to run efficiently and profitably without proper product branding. As consumers become more intelligent, manufacturers place a greater focus on promoting their brands directly to consumers (rather than through distributors), investing significant sums in advertising the excellent quality of their products, resulting in increased revenue. Furthermore, particularly in underdeveloped countries, branding has been a huge challenge. As a result, the relationship between branding and profitability in developed countries must be explained. Manufacturers hope that by investing in the quality of their brands, they will develop a brand image that will prompt consumers to ask for their foods by their brand names and pay a premium for them. In this context, the study looks into lifestyle branding as a technique of improving product appeal – specifically, a study of live bears in the southeast.
OBJECTIVES OF THE STUDY
1. To look into the impact of lifestyle branding on the beer consumer in the southeast.
2. To see if lifestyle branding makes a product more appealing to customers.
3. Determine whether life branding generates financial benefits for the company.
The First Hypothesis
Customers are more likely to buy a product if it is associated with a lifestyle.
Hello, customer attraction is not increased by lifestyle branding.
The First Hypothesis
Ho: Life branding generates revenue for the company.
Hi: Company does not benefit financially from life branding.
SIGNIFICANCE OF STUDY
The findings of this research will be advised to a Nigerian beer company, and they will be utilized to provide instructions on the value of lifestyle branding and how it can be used to enhance consumer numbers.
The richness of previous studies has been enhanced by this study’s thorough assessment of previous material. Furthermore, it has updated information in research linked to branding and how it improves profitability in the manufacturing industry, reinforcing some prior understanding.
SCOPE AND LIMITATIONS OF STUDY
The study focuses solely on the Life beer brand in Nigeria’s south-eastern region, and more specifically on how lifestyle branding improves profitability in the manufacturing industry (case of Nigeria Breweries). Here, we look at the notion of branding, product branding, branding strategy, product branding effects, and product branding’s substantial contribution to organizational profitability.
Without specific limits, a study of this sort cannot be carried out efficiently. These limitations, on the other hand, have no bearing on the study’s conclusions. The study’s significant drawbacks include a lack of resources and some respondents’ unwillingness to provide all required information. This research isn’t definitive on its own; it needs to be followed up with more research.
DEFINITIONS OF KEY TERMS
PROFIT: This is the money earned through a business or by selling items after deducting all costs. It might also be viewed as an inflow of assets into the company as a result of the company’s sales of goods and services.
BRAND: A brand is defined as the totality of product features that distinguish it from other products or a means by which the firm identifies it to consumers, such as a name, term, symbol, color, design, mark, or combination of things.
BRANDING: According to Rosenthal (2003), branding is a component of the promotional portion of marketing and is critical to a product’s image, reputation, and success.
A LIFESTYLE BRAND is a marketing concept that aims to encapsulate the values, aspirations, interests, attitudes, or opinions of a group or society. Lifestyle brands aim to inspire, guide, and motivate people through their products, with the purpose of contributing to the consumer’s way of life.
ORGANIZATION OF THE STUDY
This research paper is divided into five chapters for easy comprehension. The first chapter is devoted to the introduction, which includes the (overview, of the study), historical backdrop, statement of problem, aims of the study, research hypotheses, relevance of the study, scope and limitation of the study, definition of words, and historical background. The theoretical framework on which the study is based is highlighted in Chapter 2, as is a survey of related literature. The third chapter discusses the study’s research strategy and methodology. The fourth chapter focuses on data gathering, analysis, and presenting of findings. The study’s summary, conclusion, and suggestions are presented in Chapter 5.