THE RELEVANCE OF PACKAGING AND BRANDING ON MARKETING PRODUCTIVITY OF LOCALLY MADE PRODUCTS
CHAPTER ONE
INTRODUCTION
1.1 Background of the Study
From time immemorial, the function of marketers has been product development to ultimate consumption by consumers. For this function to be carried out effectively, Integrated marketing is usually used. And this calls for the contribution of all those functions in the organization whose contributions are essential in marketing effort to satisfy the consumer Ibekwe (1984).
Consumer satisfaction as well as satisfaction of organization goals are two issues in the marketing concept that cannot be treated in isolation. The activities of the firm should be mutually beneficial to the consumer and the firm. The consumer has total freedom of choice and cannot be forced to buy a product whose price is excessive. The firm also has choice. It is not oblige to produce goods that cost more than the consumer can pay. It is only satisfying consumer that long run profit can be achieved. And consumers are satisfied when they’ve received adequate value for their money Ibekwe, (1984).
Consumers, in the present day when deciding to purchase any product, consider the brand name of the product, and the type of package that encloses the product. This is because both concepts add value to the product and the satisfaction derived from consumers when using the product. As result of these facts manufacturing firms, pay more attention to the key area of branding and packaging of their momentous product, Kotter (2001).
A product could be conceived as consisting of the generic form and the augmented form. The generic product refers to the basic object or service that is offered to the target market. The augmented product consists of the generic product plus solicited and unsolicited extras. It is packaging and brand name that constitute two of these extras. Giles (1978) stated that whereas packaging refers to the covering for a product. Branding consists to everything intended to identify a product and distinguish it from those of competitors.
Solicited and unsolicited extra are target producing cognitive consonance, that is positive post purchasing feeling, a felling of dissatisfaction while cognitive consonance may lead to repeat, cognitive dissonance may lead to the consumers rejecting the products in the future . A good marketer strives to generate respect buys and so deliver not only the generic product but product augmenting. Extras (good packaging buys for products and good branding strategy) that assure full satisfaction to consumers.
On the part of the marketer or firm, not only does the firm record high sales volume as a result of effective packaging and branding of his product, he also earns a good corporate image from the target market or consumer that purchase his well packaged, branded and labeled products. Therefore, this study seeks to find out the effects of packaging and branding of marketing productivity of locally made product; A case study of kingmos Ltd Uyo.
1.1 STATEMENT OF THE PROBLEMS
This study intends to find out the effects of packaging and branding on marketing productivity of locally made product with kingmos paint Lid. Being out local point study. It is generally known by marketers that the nature of a product affect consumers behavior toward it. A product that is not well packaged and branded is not usually purchased by consumes. In this many firms pay little attention to the areas of packaging and branding of their products. Most products are poorly packaged and as ad result of this, they record low sales volumes, which may not even lead to break- even point on the part of the producing firms. Hence, losses may occur. Further more, the kind of brand names used for a product by a market also has to be one that can overshadow those of competitors producing the same product. However, marketers do not take much time to make good branding decision. As a result of this, thee product is not well communicated to the target market hence low sales results. Could it be that such firms or marketers do not have adequate capital to embark upon good packaging for their products?
1.2 OBJECTIVE OF THE STUDY
The objectives of this study are the following:
1. To examine the scope of packaging and branding of product.
2. To fine out reasons why firm package and brand their products.
3. To find out the effects of packaging and branding on firm’s marketing productivity.
4. To identify the factors that has contributed to packaging growing use as a marketing tool.
5. To find out the relationship existing between branding of products and the creation of corporation images.
1.3 SIGNIFICANCE OF THE STUDY
Firstly, the study will be useful to manufactures in knowing that good packaging and branding lead to both high sales volume and creates good corporate images and identifies through repeated buys by consumers.
Secondly, it will be useful to consumers in knowing that they have the right to well package and branded products so as to be selective in buying quality products.
Thirdly, it pinpoints the various brand name decisions that will be useful to various categories of manufactures.
Fourthly, the study will contribute to the existing wealth of knowledge in the areas of product packaging and branding.
Finally, it will help to provide valid information for future researchers eon the topic.
1.4 RESEARCH QUESTION
For the purpose of this study, the following research question are being asked:
What type of brand name strategy dose peacock paint Ltd adopt for its products?
What is the major reason for the firm’s branding of its products?
Why does the firm package its products in his present day ?
What effect dose packaging and branding have on the marketing productivity of the firm’s products?
What problem’s are encounter by the firm [in making branding and packaging decision for its products?
