COMPETITIVE MARKETING STRATEGIES AND PRODUCTS SUSTAINABILITY: A FOCUS ON FAST MOVING CONSUMER GOODS FIRMS IN NIGERIA

Abstract

This study investigated the impact of competitive marketing strategies on products sustainability by focusing on fast moving consumer’s goods firms: A study of Nigerian Bottling Company and Guinness Nigeria Plc in Benin City, Edo State, Nigeria. The specific objectives of the study are to ascertain effect of the of the measures of competitive marketing strategies, namely; Cost Leadership Strategy (CLS), Differentiation Strategy (DFS) and Market Focus Strategy (MFS) on Product Sustainability (PS). The data was collected through the aid of 5-likert scale structured question from the respondents (Staff of Nigerian Bottling Company and Guinness Nigeria Plc in Benin City, Edo State, Nigeria). Out of the one hundred and fourty-two (142) questionnaires administered to staff of Nigerian Bottling Company and Guinness Nigeria Plc in Benin City, Edo State, one hundred and thirty (130)91.55% were retrieved and properly filled while twelve (12)8.45% were not returned. The Data collected from the questionnaire was coded using the Excel spreadsheet, then analyzed using descriptive statistics and inferential statistics followed by multiple regressions with the aid of SPSS version 23. The finding revealed that CLS, DFS and MFS have significant relationship with PS in Nigerian Bottling Company and Guinness Nigeria Plc in Benin City, Edo State, Nigeria. In the same vein, it was concluded thatthere was a significant effect of focus strategy on market share of selected fast movingconsumer goods in Edo State, Nigeria. Therefore, the adoption of competitive marketing strategies byconsumer goods firms in the persistent volatile and dynamic business environment of Nigeria willresult in positive outcomes of improved products sustainability. The studyrecommends that management of selected consumer goods companies should pursuedifferentiation strategy more vigorously to make it work.The studyrecommends based on this finding that management of selected consumer goods companiesshould initiate market, customer, and geographical segmentation, and customer focusstrategies that can create a proper fit between their organizations and the environmenthence developing strategies that will make them competitive internationally