An Evaluation of Business Rebranding Strategies on Customer Retention: A Study of FMCG Companies in Jigawa State
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- 1-5 Chapters
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- Table of Content: Available
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- NGN 5000
Background of the Study
Rebranding involves changing the corporate image, logo, product design, or overall identity of a business to revitalize its market presence and improve customer perception. It is particularly significant in the fast-moving consumer goods (FMCG) sector, where competition is high and customer preferences shift frequently (Akinwale & Musa, 2024).
In Jigawa State, FMCG companies often adopt rebranding strategies to retain existing customers and attract new ones. However, the effectiveness of these strategies varies, with some companies experiencing improved customer retention while others struggle to achieve desired outcomes. Studies by Bello and Ibrahim (2023) highlight that effective rebranding positively influences customer loyalty and market performance.
This study evaluates the impact of business rebranding strategies on customer retention in FMCG companies in Jigawa State.
Statement of the Problem
Despite the potential benefits of rebranding, many FMCG companies in Jigawa State fail to achieve significant improvements in customer retention. Challenges such as inconsistent brand messaging, poor execution of rebranding campaigns, and lack of alignment with customer expectations often hinder success.
Research by Yusuf and Adamu (2024) emphasizes that rebranding strategies aligned with customer preferences can enhance loyalty and retention. However, there is limited localized research on how FMCG companies in Jigawa State leverage rebranding to retain customers. This study addresses this gap by examining the relationship between rebranding strategies and customer retention.
Objectives of the Study
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To assess the impact of rebranding strategies on customer retention among FMCG companies in Jigawa State.
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To identify challenges faced by FMCG companies during rebranding efforts.
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To recommend strategies for successful rebranding in the FMCG sector.
Research Questions
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How do rebranding strategies affect customer retention among FMCG companies in Jigawa State?
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What challenges do FMCG companies face in implementing rebranding strategies?
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What strategies can enhance the effectiveness of rebranding in improving customer retention?
Research Hypotheses
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Rebranding strategies significantly enhance customer retention.
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Poor execution of rebranding negatively impacts customer loyalty.
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Rebranding efforts aligned with customer preferences improve retention rates.
Scope and Limitations of the Study
The study focuses on FMCG companies in Jigawa State, analyzing the relationship between rebranding strategies and customer retention. It excludes companies from other industries or states. Limitations include differences in company size and the scope of rebranding initiatives.
Definitions of Terms
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Rebranding: The process of changing a company’s identity or product image to improve its market appeal.
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Customer Retention: The ability of a business to maintain its existing customer base over time.
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FMCG Companies: Businesses that produce and sell fast-moving consumer goods, such as food, beverages, and personal care products.
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