Impact Of Product Rebranding On Organization Profitability

The Impact Of Product Rebranding On Organization Profitability Complete Project Material (PDF/DOC)

Abstract

This study was carried out to examine the impact of product rebranding on organization profitability using Uba PLC as case study. To achieve this 4 research questions and 2 research hypothesis were formulated. The survey design was adopted and the simple random sampling techniques were employed in this study. The population size comprise of the entire staff of Uba PLC Lagos State. In determining the sample size, the researcher purposively selected 60 respondents and all respondents were validated. Self-constructed and validated questionnaire was used for data collection. The collected and validated questionnaires were analyzed using frequency tables and percentage while the hypothesis were tested using Chi-square statistical tool. The result of the findings reveals that; the striping away of rebranding can not uncover the effectiveness of packaging, the organization runs sales promotion, internally or externally, the rebranding and packaging technique adopted by the organization maintains high quality, the organization has been able to satisfy the need’s and wants of the consumers, low standard of packaging has a negative impact on sales promotion, and inadequate packaging has a negative impact on sales promotion. Based on the above findings, the researcher recommended that Uba PLC should utilize strategic capabilities such as offering superior practice and products and also by allegiances or accessing of complimentary products through network building on a need-to-win capabilities; rebranding should be part of the organizations strategy aimed at creating, developing and sustaining a competitive advantage that will attract the customer and sustain his patronage; Effective sales promotion, brand should always respond to a level of demand estimate and also packaging should be charming, attractive, be easy to handle, protect and help in storage; the effective of rebranding and packaging a new product and the factor that influence rebranding and packaging in an organization are for suggestion for further studies; and Packaging technology continues to change and marketing managers must be aware of the opportunities for increased effectiveness and efficiency which these developments present if they are to remain competitive in the market place. It is important for the company to develop innovative packaging strategies that will attract customers in an exceptional way.

Chapter One

Introduction

1.1 Background to the Study

The study of the importance of rebranding and packaging as a means of sales promotion in a business organization can be traced to various issues highlighted below.

The importance is conspicuously apparent to the fact that the physical product will not be at test without these two aspects of it. Though rebranding and packaging an individual can make easy choice of the desired product he/she tend to go for.

Also, rebranding and packaging as a means of sales promotion helps to boost the product effectively. The aspects of consumer interest and their satisfaction were apparently observed and the market environments were also given very closed consideration where the sales promotion does exist.

Rebranding and packaging are two of the most important components of marketing in an organization. rebranding is a term used to describe the name, description and design of a product. rebranding differentiates a company’s product from their competition. Packaging is a marketing tool used to reflect the brand. A company uses packaging to sell the product inside.

Rebranding and packaging are created by a company while these efforts are used to markets products, they in turn market the company itself. rebranding reflects the image that the company seeks to project and identify as target customers.

1.2 Statement of the Problem

There are many problems that affect rebranding and packaging during sales promotion era in an organization. Today’s organizations are characterized by complex relationship and a high degree of interdependent tasks that can occur. People also have different vales and perceptions towards different product for instance.

A production manager might decided to change the method of packaging and still retain its brand name in order to stream line few products which eventually might not be satisfactory and acceptable by the consumers.

The problem also confirms to the fact that their consumers needs might not be melt due to the time and cost its will cause the organization to meet the demand.

The welfare to the work force inquired by the organization is another vital part to be at due to the process of performing their assigned duties.

The socio-economic system of the consumers if not observed carefully can also be a problem during sales promotion.

Another problem that can encounter is during the area of rebranding and packaging under which the market environment can be control.

Problems can also emerges between the organization and the customers, when the taste and desire to conform with the customers value and attitudes towards buying the product was not duly melt.

1.3 Purpose of the Study

The study will find out whether Uba PLC has wholly of partially adopted a standard rebranding and packaging system visa vis its strategies of exhibiting products during sales promotion. The work reveals the increasing importance of its products in the national business environments.

The study will also highlight some of the important factors that guide the company’s branded and package product in the market environment. Effort rendered by the company through various innovation and tactic of captivating the customers interest towards the regular purchase of their product.

At the end, the organization/management will become aware that through the importance of rebranding and packaging as a means of sales promotion system, the firm is not only doing the consumer a favour but on the contrary they are survive in a buyers market.

1.4 Research Questions

In pursuance of the study, the following research questions are put together for possible treatment.

Can the organization strip away rebranding and uncover packaging effectiveness?

Is the organization running sales promotion, internally or externally?

Is the rebranding and packaging technique adopted by the organization maintain high quality?

Is the organization able to satisfy the need’s and wants of the consumers?

1.5 Research Hypothesis

The following hypotheses will guide the research work. These include:

Hypothesis One

Ho: Low standard of packaging has a negative impact on sales promotion.

HI: Low standard of packaging does not have a negative impact on sales promotion.

Hypothesis Two

Ho: Inadequate packaging has a negative impact on sales promotion.

HI: Inadequate packaging does not have a negative impact on sales promotion.

1.6 Significance of the Study

The study is beneficial and important with respect to the problems under study. The researcher is intended to examined the problem and prospects of sales promotion of an organization branded and package product.

Since the ultimate foal of any business organization is to optimize profit by minimizing cost; management should know how to tackle sales promotion in their organization.

Organization other than those located in Lagos who are into sales promotion of their branded and packaged product will benefit generously from the study of better performance.

It is therefore hope that the result of the study, if properly implemented will enable the organization improve their customers better and attract new ones. The consistent improvement of their quality of the product and services based on the findings of this study will help gain a sustainable customer confidence and patronage and hence improve productivity, profit and growth of the country’s economic development.

1.7 Scope of the Study

The coverage of this project examine the extend to which Uba PLC applies the means of sales promotion in their business operation. Also realizing the financial and time constraints to associate with the type of study. The study will therefore explore the business activities and operation of the organization with a view to determining the extend to which they have applied branded and package product as a means of sales promotion in their organization.

The study will also look into its market environment, marketing activities like buying, pricing, customer service and any other areas that may be deemed necessary to look into in order to achieve the aim as the research.

1.8 Limitations (to be written after the completion of the study)

The limitation of the research study range from various challenges faced by the researcher.

First and foremost the study has to be carried out under great pressure to meet the need of other courses. The gathering of relevant information required for this study was almost impossible as the staff of Uba PLC Lagos State, were reluctant to furnish the researcher with relevance and viral information.

In fact the reluctance exhibited by the staff of Uba PLC led to delay in sourcing crucial information needed for this research work.

1.9 Operational Definition of Terms

Brand:

This is a name seen as an integral re-enforcer of a product concept (Paul Ndubuisi; 2002).

Brand Mark:

A brand mark is that which can be recognized, spoken or pronounced (Fuller R. M., 2006).

A Trade Mark:

A legal name of a company it helps to identify its product at the market (Marcus Okafor, 2001).

A Sales Promotion:

Strategy for selling a product (Philip Kotler, 2003).

Exhibition:

A public place where you put things so that people can go to see them (Peter Anderson, 2005).

Organization:

A group such as a club or business that are from or for a particular purpose (Agnes Jones, 2000).

Customer:

Someone who buys goods and services from a shop (Mark Peterson, 2004).

Strategy:

A well planned series of action for achieving an aim (David O. Ogie, 2003).

Literature:

The production of written works having excellence of forms or expression and dealing with ideas of permanent interest (McCarthy E. J. et al, 2006).

Hypothesis:

Assumption made in order to test its logical or empirical consequences (David O. Ogie, 2003).

Appendix:

Supplementary matter added at the end of a book (Thomas Davis, 2000).

Uniqueness:

Being the only thing of its kind (Macular Jones, 2001).

Authenticity:

Something genuine or real (Fuller R. M, 2006).

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