CHAPTER ONE

1.0  INTRODUCTION

Branding is a major issue in product strategy, on the other hand, developing a branded product requires great deal of long term investment, especially for advertising.

Promotion and packaging, may brand oriented companies sub contract manufacturing to the companies.

On the other hand, manufacturers eventually learn market power and it lies with building their own brands. Japanese and south Korean companies spend liberally to build up brand name such as sonny, Toyota, golderton and Samsung. Even when these companies can no longer affords to manufacture their product in their home lands, the brand names continue to command customers loyalty.

In the past year, Nigerian has experienced a boom in her economy and had enough foreign exchange reserves the citizens depends much on imported goods especially household products. Then came economic recession. They affected the citizens adversely as many had no regard for made in Nigeria products. There arise an increase in expenses and then importation is discouraged. At this point Nigeria stated thinking seriously about their industrial development with attainment of independence in 1960 came the clamor for another kind of economic independence most of business and economic enterprises in 1962 were under the control of foreign investors. The Nigerian enterprise promotion decree came into effect in February 1972. The main objective of this decree is creating opportunities for Nigerian business to maximize local retention of profit to increase the proportion of indigenous ownership of industrial investments.

The third and fourth national development plan is for self sufficiency, the country has to minimize importation so as to become economically self sufficient. Marketing program such as trade fair are often organized to encourage and give exposure to local manufacturers. It creates more awareness to the products, it is being organization by the chamber of commercial and industry and product industries include Guinness Nigerian Plc Aba United African company (UAC), Paterson and zodinanise Plc and international equitable association  to mention but a few. They produce close substitute but they differentiate their product and secure stronger market position by use of brand names.

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