Growth Strategy and Firm Competitiveness Among Selected Food and Beverages Companies in Lagos State, Nigeria

Registration ID: IJNRD_226887

Published ID: IJNRD2408301

DOI: Click Here to Get

Alasiri, W. A , ALLI, A. I , Ojodu, H. O , Adesanya, A.S , Dabiri, G. S

Competitiveness, growth strategies, market share, Product development,

Abstract The cut-throat competition and shrinking competitive strengths of firms in the food and beverages (F&B) industry in recent time foster growing interest of investors to re-strategize and adopt growth strategies to improve their competitiveness. The study examined the effect of growth strategies on firm competitive among selected food and beverages companies in Lagos state, Nigeria. The study was anchored on resource-based theory. The descriptive survey research design was adopted and the total population for the study is 4982 employees from three selected F&B in Lagos metropolis (UAC Foods, Dufil Prima Foods and 7Up Bottling Company). The study employed adapted questionnaire to solicit responses from the respondents in the selected F&B companies. Sample size of 381 was drawn from the total population using Krejcie and Morgan sample size determination formulae (1970). Ordinary Least Square (OLS) regression estimation technique was used to analyze the data, while simple regression was used in analyzing the formulated hypotheses. The finding reveals that new product development has non-significant effect on the market share of the selected F&B companies. The study concluded that product development should be innovative to gain, enhance market share and competitiveness of selected food and beverages firms in Lagos State, Nigeria. Therefore, it was recommended that the major stakeholders in the F&B industry should adopt radical implementation of appropriate product development strategy to enhance their market share particularly in this competitive environment

Published Paper   E-Certificate

Alasiri, W. A, ALLI, A. I, Ojodu, H. O, Adesanya, A.S, & Dabiri, G. S (August-2024). Growth Strategy and Firm Competitiveness Among Selected Food and Beverages Companies in Lagos State, Nigeria. INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT, 9(8), d1-d17. https://ijnrd.org/papers/IJNRD2408301.pdf

Volume 9 Issue 8, August-2024

Pages : d1-d17

Paper Reg. ID: IJNRD_226887

Published Paper Id: IJNRD2408301

Downloads: 000121982

Research Area: Management

Country: Ikorodu, Lagos, Lagos, Nigeria

Published Paper PDF: https://ijnrd.org/papers/IJNRD2408301.pdf

Published Paper URL: https://ijnrd.org/viewpaperforall?paper=IJNRD2408301

Journal Name: INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT(IJNRD)

ISSN: 2456-4184 | IMPACT FACTOR: 8.76 Calculated By Google Scholar | ESTD YEAR: 2016

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