Expansion Strategy And Competitive Advantage Of Manufacturing Firms In Nigeria
Obialor Donatus Chukwuemeka PhD
Department of Business Management, Faculty of Management Sciences, University of Uyo
Peter Obukor PhD
Department of Management, Faculty of Management Sciences, Imo State University Owerri
Okah Vincent PhD
Department of Management, Faculty of Management Sciences, Imo State University Owerri
Keywords: Expansion strategy, Financial Resources, Diversification, competitive advantage, Differentiation strategy
Abstract
This study was designed to examine expansion Strategy and Competitive Advantage of Food and Beverage firms in Nigeria. However weak competitive advantage often manifests in declining market share, reduced customer loyalty, low product differentiation, inefficient supply chains, and inability to innovate effectively. Therefore, the objective was to examine the influence of financial resources and diversification on differentiation strategy of food and beverage forms in South-West Nigeria. A cross-sectional survey research design was adopted for the study. The population of the study was 3708 with a sample size of 361 which was determined using Taro Yamane formula for sample determination. Data were collected using questionnaire, interview and were analyzed using simple linear regression analysis. Findings demonstrated and financial resources, diversification and core competences have significant influence on differentiation strategy of food and beverage firms in South-West Nigeria. It was concluded that financial resources, and diversification significantly and positive influence differentiation strategy of food and beverage firms in South-West Nigeria. Therefore, it was recommended that Food and beverage firms should prioritize the strategic allocation of financial resources toward research and development, product innovation, and brand-building initiatives. By channeling investments into areas that directly support uniqueness and quality, firms can strengthen their differentiation strategy and maintain competitiveness in dynamic markets.
References
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