COMPARATIVE EVALUATION OF THE FUTA BREAD BRAND VIS-À-VIS OTHER SELECTED COMPETITIVE BRANDS IN AKURE

Abstract

This study focused on improving the product packaging of the Federal University of Technology, Akure Bread brand (FUTA bread). It emphasized the need to improve the product brand, by redesigning its packaging in order to promote recognition and enhance product sale performance. The SWOT analysis model was used in analysing the product brand, evaluating the internal strengths and weaknesses of the bread brand, along with the opportunities and threats faced by the brand in the university environment. Furthermore, this model highlighted the strengths on which the product should capitalize on while improving on its weaknesses and taking deliberate proactive measures on maximizing opportunities while minimizing the threats faced in its environment. A comparative study was undertaken to compare the FUTA bread brand with other selected competitive brands (Homebake bread and Oyato bread) within the university environment. The brands were chosen based on the type of bread each brand have in common which is the ‘Dinner roll’ bread. The comparative study focused on assessing the package design in terms of colours, arrangements, clarity, typography and other related factors. This study also helped to identify the brand preference and customer loyalty along with other factors that are major determinants in the competitive market among the selected products. A survey was administered to the university community which includes staff and students, as they are the major consumers of bread within the university environment and to acquire data from experiences gained from consuming bread over the years. The survey was generated and administered via Google-form to the respondents. The methodology adopted for the study, was a mixed method research approach which involves the generation of both qualitative and quantitative data. This data collection was executed through the use of survey, which was both administered and analysed using Google-form. The data generated from the study proved that FUTA bread needs to improve on its quality, package design, brand awareness, among other factors in order to improve recognition and maximize its sales performance. The study also helped to identify the consumer preference, which shows that a higher percentage of the population prefer other bread brands, such as home bake to the FUTA bread brand, majorly due to factors such as attractive package design and the quality of their product. Based on these findings, recommendations on how to improve the FUTA bread brand were made in the course of this research.