Citation:

Yusuf, D. O., Nwankwerre, I. A. "Branding and Organizational Performance: Insights from Food and Beverage Firms in Lagos State, Nigeria" International Research Journal of Economics and Management Studies, Vol. 3, No. 7, pp. 251-258, 2024.

Abstract:

Food and beverage firms play a pivotal role in the economy, catering to basic human needs while driving employment and economic growth. Efforts to enhance organizational performance within this sector have been ongoing, encompassing strategies such as operational efficiency, product innovation, and marketing tactics. However, despite these endeavors, some firms have experienced setbacks, evident in declining performance. This decline could be linked to poor branding. Therefore, in Lagos State, Nigeria, this study looked into the relationship between branding and organizational performance of particular food and beverage companies. In this study, a survey research design was used. There were 962 people in the study's population. Using Krejcie and Morga Research, a sample size of 481 was established. A validated, structured questionnaire with a Cronbach alpha value between 0.73 and 0.88 was used to collect the data. Descriptive and inferential statistics were used to analyze the data at a significance level of 5%. The results revealed that branding had a positive and significant effect on the organizational performance of selected food and beverage firms in Lagos state, Nigeria (Adj.R2 = 0.165, F(4, 445) = 23.226, p < 0.05). The study concluded that branding improved the organizational performance of selected food and beverage firms in Lagos state, Nigeria. Therefore, the study recommended that the management of food and beverage firms should foster a culture of brandcentricity within their organizations to enhance performance. This could entail aligning the company’s values, vision, and operations with the brand identity.

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Keywords:

Branding, Brand Awareness, Brand Association, Brand Positioning, Organizational Performance.