Evaluation of Branding as a Tool for Entrepreneurship Success

Abstract

This study evaluated branding as a tool for entrepreneurship success. The study is delimited to bakeries in Ikeji- Arakeji Area in Ori-Ade Local Go vernment of Osun State, Nigeria. The study is guided by three research questions and seeks to know the effects of packaging, customer's taste and product's price on the growth of bakeries, rate of patronage, volume of sales and customer's choice. Five companies producing bread and two hundred bread customers are considered. A descriptive survey research design is used to determine the effects of branding on the success of entrepreneur among companies producing bread products. The data collected is analyzed using simple frequency counts, percentage mean and standard deviation. The results from the study revealed that unique packaging has ability to increase customer's patronage and that an increase in patronage results into an increase in sales which in turns impacts business growth. The results also revealed that customers buy more of bread from which they derive high satisfying taste. It is also shown in the results that quality of bread is not determined by price and that people tend to buy more of the bread that are carrying lower prices irrespective of their quality. Going by the results obtained, the study concluded that adequate and unique branding influence entrepreneurship success. The study therefore recommends that firms should endeavor to improve their branding system as this will enable them to remain relevant in market and stand the phase of competition.