Strategic Brand Extension and Marketing Performance in Selected Beverage Firms in Nigeria
Abstract
The primary aim of the study is to examine the impact of strategic brand extension on the marketing of beverage companies in Nigeria. The sample size was calculated using the Taro Yemani method from a population of 701, and respondents who would be representative of the population were chosen using the survey research design approach. Simple percentages and multiple regressions are two examples of the statistical methods employed. The results of the study demonstrated that every one of the variables that were looked at—including line expansion, category extension, brand awareness, and the existence of a well-known family brand—were advantageous and important for marketing performance. And the extension that has the greatest impact is the current family brand, followed by category expansion, brand recognition, and so on. According to the study, Nigerian beverage businesses' organizational performance was positively impacted by the brand expansion plan elements, which in turn enhanced marketing performance. Among other recommendations, the paper urges beverage companies in Nigeria, both current and prospective, to put a lot of effort into using brand expansion strategies in this field.
Keywords
Organizational performanceline extensionexisting beveragecategory
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