ECO-BASED PRODUCT STRATEGIES AND MARKETING SUCCESS: A MODERATING ROLE TECHNOLOGY OF QUOTED FOOD AND BEVERAGES FIRMS IN NIGERIA

Abstract

The study investigated the influence of eco-based Product Strategies on marketing success of food and beverages firms in Nigeria. The study redefined the role and importance of eco-based product strategies in the 21^st century business environment. The study also considered the moderating role of eco-friendly technology in the influence of eco-based product strategies and marketing success. The study is a quantitative research using panel data framework. Alpha reliability coefficient calculated for each of the dimensions of eco-based product strategies is above the threshold value of 0.7. All empirical analysis were done using excel version 2016, SPSS version 22 and EViews version 10 respectively. The study found evidence that eco-product packaging has positive influence with both market share and sales growth but has negative relationship with profitability. The study also found evidence that eco-product labeling has positive and highly significant influence on market share but has negative and insignificant influence on both sales growth and profitability. Based on this finding, the study concludes that when each of the marketing success measures was modeled to depend on the three dimensions of eco-based product strategies, the results shows that the market share model performed better than those of sales growth and profitability. Following this, the study recommends that food and beverages firms should package their products with materials that are reusable which helps them to reduce the cost of production thereby increasing profitability.