Strategic Brand Extension and Organizational Performance of Selected Beverage Firms in Nigeria

Ekure Friday Ovovwero Marcus; Bereprebofa Dudutari; Abonyi Ikechukwu Igwulube; Ireneusc Nwaizugbo; Eleje Edward Ogbonnia

doi:doi:10.11648/j.ijefm.20210906.18

Strategic Brand Extension and Organizational Performance of Selected Beverage Firms in Nigeria

Ekure Friday Ovovwero Marcus, Bereprebofa Dudutari, Abonyi Ikechukwu Igwulube, Ireneusc Nwaizugbo, Eleje Edward Ogbonnia

Published in International Journal of Economics, Finance and Management Sciences (Volume 9, Issue 6)

Received: 21 October 2021 Accepted: 6 December 2021 Published: 31 December 2021

Views: Downloads:

Download PDF

Share This Article

Twitter
Linked In
Facebook

Abstract

This study investigates the impact of strategic brand extension on organizational performance of selected beverage firms in Nigeria. The brand concept has come a long way especially during the product marketing times, where branding and management of brands played a huge role in creating differentiation and product preference in consumers’ mind. Brand extensions as a contemporary concept maximizes on brand name equity already established. Core brand names that customers are familiar with aid products newly entering the market and enable them quickly capture new market segments. Locally, adequate research attention has not been directed in area of strategies for brand extension. There appears to be existing gap for a study to be developed that looks into how strategies on brand extension affects local firm performance. The main focus of this study therefore, is to investigate the importance of strategic brand extension on the performance of beverage production companies in Nigeria. The sample size was determined using Taro Yemen's approach, and respondents were chosen using the survey research design method. The statistical approaches used were simple percentages and multiple regressions. According to the findings, all of the variables studied in this study, such as category expansion, line extension, existing family brand, and brand awareness, were positive and significant drivers to marketing performance. Brand awareness, existing family brand extension, and category extension have the most influence, followed by line growth. The study discovered that features of brand growth strategy have a positive impact on soft drink businesses' marketing success in Nigeria. As a result, the study recommends that a new or existing soft drink company in Nigeria work hard to develop a brand expansion strategy in order to increase marketing performance, among other things.

Published in	International Journal of Economics, Finance and Management Sciences (Volume 9, Issue 6)
DOI	10.11648/j.ijefm.20210906.18
Page(s)	271-284
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2024. Published by Science Publishing Group

Keywords

Brand Extension, Organisational Performance, Category Extension, Brand Awareness, Existing Family Brand, Category Extension

References

[1]	L De Chernatony, S Segal-Horn (2001) Building on services’ Characteristics to develop successful service brand. Journal of marketing.
[2]	MB Produs-Pena & S. Del Barrio-Garcia (2021) Key antecedents of brand equity in heritage brand extension: the moderating role of Tourist heritage expenses. Europian research on management and business economies.
[3]	S. Hoeffler & Keller (2003) The marketing advantage of strong brands. Journal of brand management 10 (6), 421-445.
[4]	K. L. keller (2003) Brand Synthesis: The Multidimensionality of Brand Knowledge. Journal of consumer research 29 (4), 595-600.
[5]	Shafqat R. &Yasirs (2016) Brand extension success elements: a conceptual framework. Journal of business administration and education. 2 (3: 9-8).
[6]	M. Hultman, C. Papadopolu and P. Oghazi. (2021) Journal of business research. Volume 124, Pages 560-570.
[7]	Dhananjy Beura& Tapas Ranjan Moharana (2016) Private label brand extension and consumer buying behavior towards household cleaning chemicals. Vol 5, issue 2, 34-45.
[8]	Keller & Lehman (2006) Brand and Branding: Research findings and future priorities. Journal of Marketing Science vol 25, Issue 6.
[9]	Kotler & Amstrong (2010). Factors affecting consumer decision making: a survey of young adults on imported cosmetics in Jabodetabok, Indonesia.
[10]	Hohd R. S., Anita A, Suhardy W, Shamsu J (2010) The relationship between extrinsic attributes of product quality with brand loyalty on Malaysia national brand motorcycle/scooter. Canadian Social Science journal, vol 6 (3).
[11]	Asiegbu I. F, Awa, H. Okorie, Akpotu, ChristopherOgbonna, U. Benson, (2011) performance of industrial and domestic products firms in Nigeria. Far East Journal of Psychology and Business Vol 2 No 3.
[12]	L. E. Boone & Kurtz (2015) Contemporary marketing.
[13]	K. Knoerzer & JA Milllemann (2021). Investigating determinants of brand extension success in a fit and non-fit scenario. International journal of Technology marketing. Vol. 15, No 4.
[14]	T. Jackson (2004) Negotiatingsustainable consumption: aareview of consumption debat and its policy implication. Energy and Environment Journal.
[15]	DJ Reibstein, DR Lehmann, (2006). Marketing Metrics. and financial performance. Journal of marketing inst.
[16]	T. Ambler & C. StylesCoexistence of transaction and rational marketing: insight from the Chinese business context. Industrial marketing management.
[17]	Nwielaghi (2013) Tradefairs and marketing performance in the Nigeria manufacturing industry. Reseach gate.Net.
[18]	Ezekiel M. S., Joshua K, Arikpo N. N. and Martin George (2021) Effect of Brand extension strategy on customers’ preference of Coca-cola products in University of Calabar. International Journal of Development and management review. Vol 16, No 1.
[19]	C. Burmann, S. Hegner & Negner (2009) Towards an identity-based branding. Journals. sagepub.com.
[20]	JN Kapferer (2006) the two business cultures of luxury brands. Brand culture-Taylorfrancis.com.
[21]	UK Maurya P. Mishra (2012) What is Brand? A perspective on brand meaning. European Journal of business and management.
[22]	KL Keller (2021) Future of Brand and Branding: An Essay for multiplicity, heterogeneity and integration. Journal of consumer research.
[23]	JN Kapferer& I Schuiling (2004) Executive insights: real differences between local and international brands: strategic implications for international marketing. Journal of international marketing.
[24]	NM Iversen and LE Hem (2008) Provenance associations ascore values of place umbrella brands: a framework of characterists. European journal marketing.
[25]	L. Hem, N. Iversen & E. Bolann (2008) The Host of Brand extensions. American advances. Acrwebsite. org.
[26]	Martínez, E. and Pina, J. M. (2010), "Consumer responses to brand extensions: a comprehensive model", European Journal of Marketing, Vol. 44 No. 7/8, pp. 1182-1205. https://doi.org/10.1108/03090561011047580.
[27]	Daniel Sheinin (2000) The Effects of Experience with brand extensions on parenmt brand knowledge. Journal of business research 49 (1): 47-55.
[28]	Nwielaghi (2013) Tradefairs and marketing performance in the Nigeria manufacturing industry. Reseach gate.net.
[29]	Jing, Pitsaphol & Shabir (2017) A case of male consumers for cosmetic brands in South Africa. Journal of Business and Retail Management Research, Vol 12 Issue 1.
[30]	Huang & Sarigollu (2012) Assessment of Brand Equity measures. ResearchGate marketing letters 3, 1, pp-83.
[31]	Osuala E. C. (2005) Introduction to Researchmethodology. Open journal of forestry. Vol. 2, No 4.
[32]	Narteh, B., Odoom, R., Braimah, M. and Buame, S. (2012), "Key drivers of automobile brand choice in sub-Saharan Africa: https://doi.org/10.1108/10610421211276268.

Cite This Article

Plain Text BibTeX RIS

APA Style

Ekure Friday Ovovwero Marcus, Bereprebofa Dudutari, Abonyi Ikechukwu Igwulube, Ireneusc Nwaizugbo, Eleje Edward Ogbonnia. (2021). Strategic Brand Extension and Organizational Performance of Selected Beverage Firms in Nigeria. International Journal of Economics, Finance and Management Sciences, 9(6), 271-284. https://doi.org/10.11648/j.ijefm.20210906.18

Copy | Download

ACS Style

Ekure Friday Ovovwero Marcus; Bereprebofa Dudutari; Abonyi Ikechukwu Igwulube; Ireneusc Nwaizugbo; Eleje Edward Ogbonnia. Strategic Brand Extension and Organizational Performance of Selected Beverage Firms in Nigeria. Int. J. Econ. Finance Manag. Sci. 2021, 9(6), 271-284. doi: 10.11648/j.ijefm.20210906.18

Copy | Download

AMA Style

Ekure Friday Ovovwero Marcus, Bereprebofa Dudutari, Abonyi Ikechukwu Igwulube, Ireneusc Nwaizugbo, Eleje Edward Ogbonnia. Strategic Brand Extension and Organizational Performance of Selected Beverage Firms in Nigeria. Int J Econ Finance Manag Sci. 2021;9(6):271-284. doi: 10.11648/j.ijefm.20210906.18

Copy | Download

@article{10.11648/j.ijefm.20210906.18,
  author = {Ekure Friday Ovovwero Marcus and Bereprebofa Dudutari and Abonyi Ikechukwu Igwulube and Ireneusc Nwaizugbo and Eleje Edward Ogbonnia},
  title = {Strategic Brand Extension and Organizational Performance of Selected Beverage Firms in Nigeria},
  journal = {International Journal of Economics, Finance and Management Sciences},
  volume = {9},
  number = {6},
  pages = {271-284},
  doi = {10.11648/j.ijefm.20210906.18},
  url = {https://doi.org/10.11648/j.ijefm.20210906.18},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijefm.20210906.18},
  abstract = {This study investigates the impact of strategic brand extension on organizational performance of selected beverage firms in Nigeria. The brand concept has come a long way especially during the product marketing times, where branding and management of brands played a huge role in creating differentiation and product preference in consumers’ mind. Brand extensions as a contemporary concept maximizes on brand name equity already established. Core brand names that customers are familiar with aid products newly entering the market and enable them quickly capture new market segments. Locally, adequate research attention has not been directed in area of strategies for brand extension. There appears to be existing gap for a study to be developed that looks into how strategies on brand extension affects local firm performance. The main focus of this study therefore, is to investigate the importance of strategic brand extension on the performance of beverage production companies in Nigeria. The sample size was determined using Taro Yemen's approach, and respondents were chosen using the survey research design method. The statistical approaches used were simple percentages and multiple regressions. According to the findings, all of the variables studied in this study, such as category expansion, line extension, existing family brand, and brand awareness, were positive and significant drivers to marketing performance. Brand awareness, existing family brand extension, and category extension have the most influence, followed by line growth. The study discovered that features of brand growth strategy have a positive impact on soft drink businesses' marketing success in Nigeria. As a result, the study recommends that a new or existing soft drink company in Nigeria work hard to develop a brand expansion strategy in order to increase marketing performance, among other things.},
 year = {2021}
}

Copy | Download

TY  - JOUR
T1  - Strategic Brand Extension and Organizational Performance of Selected Beverage Firms in Nigeria
AU  - Ekure Friday Ovovwero Marcus
AU  - Bereprebofa Dudutari
AU  - Abonyi Ikechukwu Igwulube
AU  - Ireneusc Nwaizugbo
AU  - Eleje Edward Ogbonnia
Y1  - 2021/12/31
PY  - 2021
N1  - https://doi.org/10.11648/j.ijefm.20210906.18
DO  - 10.11648/j.ijefm.20210906.18
T2  - International Journal of Economics, Finance and Management Sciences
JF  - International Journal of Economics, Finance and Management Sciences
JO  - International Journal of Economics, Finance and Management Sciences
SP  - 271
EP  - 284
PB  - Science Publishing Group
SN  - 2326-9561
UR  - https://doi.org/10.11648/j.ijefm.20210906.18
AB  - This study investigates the impact of strategic brand extension on organizational performance of selected beverage firms in Nigeria. The brand concept has come a long way especially during the product marketing times, where branding and management of brands played a huge role in creating differentiation and product preference in consumers’ mind. Brand extensions as a contemporary concept maximizes on brand name equity already established. Core brand names that customers are familiar with aid products newly entering the market and enable them quickly capture new market segments. Locally, adequate research attention has not been directed in area of strategies for brand extension. There appears to be existing gap for a study to be developed that looks into how strategies on brand extension affects local firm performance. The main focus of this study therefore, is to investigate the importance of strategic brand extension on the performance of beverage production companies in Nigeria. The sample size was determined using Taro Yemen's approach, and respondents were chosen using the survey research design method. The statistical approaches used were simple percentages and multiple regressions. According to the findings, all of the variables studied in this study, such as category expansion, line extension, existing family brand, and brand awareness, were positive and significant drivers to marketing performance. Brand awareness, existing family brand extension, and category extension have the most influence, followed by line growth. The study discovered that features of brand growth strategy have a positive impact on soft drink businesses' marketing success in Nigeria. As a result, the study recommends that a new or existing soft drink company in Nigeria work hard to develop a brand expansion strategy in order to increase marketing performance, among other things.
VL  - 9
IS  - 6
ER  -

Copy | Download

Author Information

Ekure Friday Ovovwero Marcus

Department of Marketing, Nnamdi Azikiwe University, Awka, Nigeria
Bereprebofa Dudutari

Department of Marketing, Nnamdi Azikiwe University, Awka, Nigeria
Abonyi Ikechukwu Igwulube

Department of Marketing, Nnamdi Azikiwe University, Awka, Nigeria
Ireneusc Nwaizugbo

Department of Marketing, Nnamdi Azikiwe University, Awka, Nigeria
Eleje Edward Ogbonnia

Department of Banking and Finance, Federal University, Wukari, Nigeria

Download PDF

Sections

Plain Text BibTeX RIS

APA Style

Ekure Friday Ovovwero Marcus, Bereprebofa Dudutari, Abonyi Ikechukwu Igwulube, Ireneusc Nwaizugbo, Eleje Edward Ogbonnia. (2021). Strategic Brand Extension and Organizational Performance of Selected Beverage Firms in Nigeria. International Journal of Economics, Finance and Management Sciences, 9(6), 271-284. https://doi.org/10.11648/j.ijefm.20210906.18

Copy | Download

ACS Style

Ekure Friday Ovovwero Marcus; Bereprebofa Dudutari; Abonyi Ikechukwu Igwulube; Ireneusc Nwaizugbo; Eleje Edward Ogbonnia. Strategic Brand Extension and Organizational Performance of Selected Beverage Firms in Nigeria. Int. J. Econ. Finance Manag. Sci. 2021, 9(6), 271-284. doi: 10.11648/j.ijefm.20210906.18

Copy | Download

AMA Style

Ekure Friday Ovovwero Marcus, Bereprebofa Dudutari, Abonyi Ikechukwu Igwulube, Ireneusc Nwaizugbo, Eleje Edward Ogbonnia. Strategic Brand Extension and Organizational Performance of Selected Beverage Firms in Nigeria. Int J Econ Finance Manag Sci. 2021;9(6):271-284. doi: 10.11648/j.ijefm.20210906.18

Copy | Download

@article{10.11648/j.ijefm.20210906.18,
  author = {Ekure Friday Ovovwero Marcus and Bereprebofa Dudutari and Abonyi Ikechukwu Igwulube and Ireneusc Nwaizugbo and Eleje Edward Ogbonnia},
  title = {Strategic Brand Extension and Organizational Performance of Selected Beverage Firms in Nigeria},
  journal = {International Journal of Economics, Finance and Management Sciences},
  volume = {9},
  number = {6},
  pages = {271-284},
  doi = {10.11648/j.ijefm.20210906.18},
  url = {https://doi.org/10.11648/j.ijefm.20210906.18},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijefm.20210906.18},
  abstract = {This study investigates the impact of strategic brand extension on organizational performance of selected beverage firms in Nigeria. The brand concept has come a long way especially during the product marketing times, where branding and management of brands played a huge role in creating differentiation and product preference in consumers’ mind. Brand extensions as a contemporary concept maximizes on brand name equity already established. Core brand names that customers are familiar with aid products newly entering the market and enable them quickly capture new market segments. Locally, adequate research attention has not been directed in area of strategies for brand extension. There appears to be existing gap for a study to be developed that looks into how strategies on brand extension affects local firm performance. The main focus of this study therefore, is to investigate the importance of strategic brand extension on the performance of beverage production companies in Nigeria. The sample size was determined using Taro Yemen's approach, and respondents were chosen using the survey research design method. The statistical approaches used were simple percentages and multiple regressions. According to the findings, all of the variables studied in this study, such as category expansion, line extension, existing family brand, and brand awareness, were positive and significant drivers to marketing performance. Brand awareness, existing family brand extension, and category extension have the most influence, followed by line growth. The study discovered that features of brand growth strategy have a positive impact on soft drink businesses' marketing success in Nigeria. As a result, the study recommends that a new or existing soft drink company in Nigeria work hard to develop a brand expansion strategy in order to increase marketing performance, among other things.},
 year = {2021}
}

Copy | Download

TY  - JOUR
T1  - Strategic Brand Extension and Organizational Performance of Selected Beverage Firms in Nigeria
AU  - Ekure Friday Ovovwero Marcus
AU  - Bereprebofa Dudutari
AU  - Abonyi Ikechukwu Igwulube
AU  - Ireneusc Nwaizugbo
AU  - Eleje Edward Ogbonnia
Y1  - 2021/12/31
PY  - 2021
N1  - https://doi.org/10.11648/j.ijefm.20210906.18
DO  - 10.11648/j.ijefm.20210906.18
T2  - International Journal of Economics, Finance and Management Sciences
JF  - International Journal of Economics, Finance and Management Sciences
JO  - International Journal of Economics, Finance and Management Sciences
SP  - 271
EP  - 284
PB  - Science Publishing Group
SN  - 2326-9561
UR  - https://doi.org/10.11648/j.ijefm.20210906.18
AB  - This study investigates the impact of strategic brand extension on organizational performance of selected beverage firms in Nigeria. The brand concept has come a long way especially during the product marketing times, where branding and management of brands played a huge role in creating differentiation and product preference in consumers’ mind. Brand extensions as a contemporary concept maximizes on brand name equity already established. Core brand names that customers are familiar with aid products newly entering the market and enable them quickly capture new market segments. Locally, adequate research attention has not been directed in area of strategies for brand extension. There appears to be existing gap for a study to be developed that looks into how strategies on brand extension affects local firm performance. The main focus of this study therefore, is to investigate the importance of strategic brand extension on the performance of beverage production companies in Nigeria. The sample size was determined using Taro Yemen's approach, and respondents were chosen using the survey research design method. The statistical approaches used were simple percentages and multiple regressions. According to the findings, all of the variables studied in this study, such as category expansion, line extension, existing family brand, and brand awareness, were positive and significant drivers to marketing performance. Brand awareness, existing family brand extension, and category extension have the most influence, followed by line growth. The study discovered that features of brand growth strategy have a positive impact on soft drink businesses' marketing success in Nigeria. As a result, the study recommends that a new or existing soft drink company in Nigeria work hard to develop a brand expansion strategy in order to increase marketing performance, among other things.
VL  - 9
IS  - 6
ER  -

Copy | Download