Corporate Prestige and Competitive Advantage of Brewing Firms in South East, Nigeria

Abstract

Corporate prestige in brewing firms is a complex construct influenced by various components that contribute to an organization's perceived excellence and reputation. This work examines the influence of corporate prestige on competitive advantage of Brewing Firms in South East, Nigeria but specifically examined the extent of the relationship that exists between brand reputation and service differentiation and the extent of the relationship that exists between innovation and customer loyalty. The study was anchored on resource-based theory developed by Barney (2023). Descriptive Research Design was employed to x-ray the extent of relationship that exists between the dependent and independent variables. A sample size of 92 was derived out of the population of 120 from different Brewing Firms in South East, Nigeria using Taro Yamane Formula. The formulated hypotheses were tested using Pearson Product Moment Correlation Coefficient. Findings revealed that significant positive relationship exist between brand reputation and service differentiation; innovation and customer loyalty. We recommended that firms need to build a very strong corporate prestige that is unbeatable, unquestionable, which can be sustained through consistent efficient and effective brand management. Also, organizations must continuously innovate and adapt to maintain their competitive edge in a rapidly changing business landscape. The study concluded that corporate prestige had significant positive relationship on competitive advantage of Brewing Firms in South East, Nigeria.