Corporate Branding and Organisational Growth of Oil and Gas Firms in Nigeria

Abstract

Effective brand management and brand itself are part and parcel of strategic marketing management of any organization. Branding has a significant role in determining performance of the company and customer satisfaction. The purpose of the paper was to examine the relationship between corporate branding and organizational development of oil and gas companies in Nigeria. The study included three dimensions of corporate branding namely; brand image, brand promise and corporate culture. The resource-based view theory guided the research. This research utilizes survey research design where two-hundred (200) employees of the identified oil & gas firms operating in Nigeria were used as a study sample. Data were collected using the primary source (structured questionnaire). The study had three (3) research questions and three (3) research hypotheses. The reliability test used was the Cronbach’s alpha coefficient where all the items of the research instrument were reported as reliable or higher than the 0.7 point. The relationship between branding of organizations and their growth was assessed using Pearson Correlation Co-efficient. The study results showed strong positive relationships between brand image and their organizational growth (r=0.67); brand promise too showed strong positive relationships with organizational growth (r=0.89) and corporate culture too showed strong positive relationships with organizational growth (r=0.95). On the basis of these findings, the study concluded that corporate branding is an effective concept that can drive the organizational towards achieving strategic competitive advantage. The study recommends that Managers in oil and gas firms in Nigeria should invest in substantial branding programs that will drive and sustain a strong brand image. In this way, they will be able to increase their competitiveness, attract and retain customers, and, ultimately, enhance their overall market performance and sustainability