Paper Title
Growth Strategy and Firm Competitiveness Among Selected Food and Beverages Companies in Lagos State, Nigeria
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Registration ID: IJNRD_226887
Published ID: IJNRD2408301
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Keywords
Competitiveness, growth strategies, market share, Product development,
Abstract
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
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How To Cite (APA)
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
Issue
Volume 9 Issue 8, August-2024
Pages : d1-d17
Other Publication Details
Paper Reg. ID: IJNRD_226887
Published Paper Id: IJNRD2408301
Research Area: Management
Author Type: Foreign Author
Country: Ikorodu, Lagos, Lagos, Nigeria
Published Paper PDF: https://ijnrd.org/papers/IJNRD2408301.pdf
Published Paper URL: https://ijnrd.org/viewpaperforall?paper=IJNRD2408301
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