EFFECT OF PACKAGING ON THE SALES OF A COMPANY PRODUCT
This project focuses on the impact of packaging on corporate product sales, using Guinness Nigeria Plc Benin City as a case study. It is designed to examine the influence of packaging and may include branding of the product cover for aesthetic or preservation purposes.
The firm's aims include market value and how packaging influences a product's marketing power. Data were acquired using both a questionnaire and an oral interview. The acquired data were thoroughly analysed utilising statistical methods such as Chi-square and the simple percentage technique.
Based on the analysis data, the following conclusions were made: Packaging of a company's product affects its identification; packaging of a company's product serves both promotional and preservative purposes;
and finally, it has been noted that packaging improves a company's product's marketing power. It was thus established that packaging was a strategic strategy used to improve the marketability of the company's products.
The following were thereafter recommended to the producer of a company's product; adequate attention should be given to product packaging because packaging is positively related to sales;
the company's policy should expressly specify the goal of packaging so that it would be well understood by the various levels of her workforce; and finally, companies should ensure that the quality of their product commensurate with the description on the product packaging so as to sustain the confidence.
1.1 Background for the Study
Packaging has a significant influence or impact on the lives of humans and products alike. Most physical things must be packaged and labelled. Some packages, such as the coke bottle and egg carton, are globally famous. Many marketers consider packaging to be the fifth “P” after product, price, place, and promotion (Kotler, 2000).
Most manufacturing businesses nowadays use high-tech equipment and procedures in the design and production of products, which are not considered complete until a suitable package is created and manufactured for them. The package is regarded as the final marketing mix variable along the channel of consumer goods manufacture.
Packaging has evolved into a potential marketing tool that, when properly designed, may provide convenience and promotional value. It is critical that any sort of packaging protects the product from damage, pilferage, and deterioration throughout the sales channel and throughout use.
Most consumer products must be packaged in some type of container if they are to be heavily advertised, with its inherent handling process and technique, as well as the sales channel. The research study will be justified by determining whether the customer has been advised for improvement.
Furthermore, a product is made up of two distinct parts: “the product content and the package” itself. However, at this point, more attention should be dedicated to a company's product sales. It is critical to properly package a product to safeguard it from any external factors that may act on it while in transportation.
goods packaging not only protects the goods throughout transit from the producer to the retailer, but it also prevents damage while the product is on the retail shelf.
The impact of packaging on a company's product sales has recently increased dramatically. It might be difficult to discern if packaging's protective function should take precedence over its promotional function.
Because of the increased importance that packaging now carries, its marketing is no longer considered anyone's job. Most organisations today delegate the responsibility for product packaging to qualified product managers or marketing specialists.
Furthermore, the impact of packaging on a company's product sales can be determined by observing the negative effect of a poor container on a product. It will not only harm the product image in the long run, but it may also cause stigma and unhappiness among intermediaries (Okafor, 1995).
1.2 Statement of Problem
The goal of this study is to determine the impact of packaging on consumer goods sales. Guinness Nigeria Plc, Benin City, has been chosen as a study unit to attain this goal and make its findings more applicable in practical settings.
1.3 Research Questions.
To that purpose, the following questions are relevant.
(1) Does packaging have a substantial impact on a consumer's willingness to purchase a specific product?
(2) Does it require a high level of knowledge to create successful product packaging for the company's products?
(3) How does packing affect the value of a company's product?
1.4 Object of the Study
The goal of this study is to evaluate the impact of packaging on sales of the company's products. They include the following:
i. Determine whether the production organisation requires packaging.
ii. Determine the efficacy and efficiency of packaging throughout the organisation.
iii. Determine the appropriate packaging decision.
iv. If there is any type of packaging that works well for products, particularly those of Guinness Nigeria Plc, Benin City.
v. To determine the impact of packaging on the firm's market worth.
1.5 Statement of Hypothesis
The statement of the hypothesis is as follows:
(1) Packaging has no substantial impact on sales of the company's products.
(2) Packaging has no effect on the pricing of a company's product.
(3) Packaging has no significant part in the promotion and protection of the company's products.
1.6 Scope of Study
The study is primarily concerned with the effect of packaging on consumer product sales, and the researcher focused on Guinness Nigeria Plc, Benin City. In addition, the research study focuses on the impact of product acceptance and pricing on consumer product packaging.
1.7 Significance of the Study
Packaging has an enormous impact on consumer product sales. Consumers make quick decisions regarding products depending on packaging. A product's packaging communicates its brand, image,
and utility while taking into account the current dynamic and human want/need. As a manufacturing organisation, Guinness Nigeria Plc must understand the importance of packaging.
This study would be useful to Guinness Nigeria Plc Benin City since it will help them understand the value that consumers place on packaging.
To consumers: Packaging is the primary means of advertising and identifying items. And it is what draws the consumer's attention to the product as it rests on store shelves, leading to the purchase of the well-packaged product. Finally, it acts as a reference material for other researchers who wish to conduct additional research into the study.
1.8 Limitations of the Study
In every human endeavour, there are always restricting variables. In order to reach the desired goals of this study, the researcher confronted numerous difficulties because situations are not constant.
The following are some of the challenges that the researcher faced. This includes:
Finance: Financial problems are a crucial issue in this research effort, particularly given the current economic trend and as a dependent student. The key costs are the cost of printing and administering questionnaires, the cost of writing supplies, and various minor fees.
Time restrictions are another significant disadvantage of this work. The fact that the department schedules the sessions and determines the deadlines for project supervision and submission makes it a fixed variable factor in project writing, and working within this limit necessitates all kinds of adjustments ranging from lecture hours, study hours, travel hours, and so on.
Another key barrier identified was the respondents' bias and unwillingness to share their information. It took the researcher a visit to the respondent to obtain the desired information because most of the respondents were not always available.
Transportation: The government's increase in petroleum product prices throughout the research period affected the cost of this study as well as the cost of transportation, which impacted the researcher's pocket.
1.9 Operational Definitions of Terms
Packaging is the process of enclosing or safeguarding things for distribution, storage, sale, and use. It is also the process of designing, evaluating, and producing packages.
Packaging can also be defined as a coordinated system of preparing items for transportation, warehousing, logistics, sale, and final use. Packaging holds, protects, preserves, transports, informs, and sells.
Sales is the general activity of providing a product to a buyer in exchange for a price.
Personal selling is a face-to-face transaction in which a vendor attempts to persuade a buyer to make a purchase. Salespeople utilise this method to persuade customers to buy a product, service, or solution.
Marketing, as defined by the American Marketing Association (AMA) Board of Directors, is the activity, collection of institutions, and procedures for producing, communicating, delivering, and exchanging items of value to customers, clients, partners, and society at large.
According to Kotler, marketing is the science and art of discovering, developing, and providing value to a target market while making a profit. Marketing identifies unmet needs and desires. It identifies which market segments the company is best suited to serve, and it designs and promotes the relevant products and services.
A consumer is someone who consumes, particularly someone who purchases products or services for personal use or possession rather than resale or use in production and manufacturing. A consumer is the individual who purchases and/or uses a product for personal or household purposes.
Product: A product is a good, service, or concept made up of a collection of tangible and intangible characteristics that satisfy customers and are exchanged for many or other units of value.
A product is a good, idea, method, information, object, or service that is developed as a result of a process to meet a need or satisfy a want. A seller provides a buyer a combination of tangible and intangible properties (benefits, features, functions, and uses) in exchange for their purchase.
Target: This is a group of well-defined consumers whose requirements the company aims to meet.
Labelling: Labelling is a term used in the packaging language to denote any printed information that appears on or alongside the packaging.