CONSUMER BRAND PERCEPTION VARIABLES AND PURCHASE DECISION OF SELECTED FAST-MOVING CONSUMER GOODS FIRMS IN LAGOS STATE, NIGERIA

Abstract

Consumers play a vital role in the success of organizations as their purchasing decision can have a significant impact on the organisation's performance. Therefore, it is important for organizations to maintain a positive brand perception in the minds of consumers. This can be achieved through excellent customer service. However, poor consumer brand perception could lead to a decline in purchase decision leading to low sales and possible organizational failure. This study investigated the effect of consumer brand perception variables and purchase decision of selected fast-moving consumer goods (FMCGs) firms in Lagos State, Nigeria. The study adopted a survey research design. The population of the study was 1,774,657 consumers of fast-moving consumer goods firms that reside in different local governments of the different five regions in Lagos state Nigeria, and a sample size of 499 was determined using Krejcie and Morgan. The data was collected using a valid and reliable questionnaire with a Cronbach alpha value greater than 0.7. Both descriptive and inferential tools were used for the data analysis. Multiple regression analysis was used to determine the effect of the variables using Statistical Package for Social Science (SPSS) version 27. The study revealed that consumer brand perception variables have significant effect on the purchase decision of selected fast-moving consumer goods firms in Lagos State, Nigeria (Adj. R2 = 0.426; F (4, 425) = 59.236, p < 0.05). The study concluded that consumer brand perception has significant effect on the purchase decision of selected fast-moving consumer goods firms in Lagos State, Nigeria. It is recommended that management should invest in creating and maintaining strong brand perception among consumers to positively influence their purchase decisions. This can be achieved by developing effective branding and marketing strategies that focus on building brand awareness, attractiveness, positioning, associations, and image.