ENEMS MICROSYSTEMS RESEARCH SPOT: February 28

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Tuesday 28 February 2023

THE IMPLICATION OF BRANDING AND PACKAGING OF A PRODUCT

THE IMPLICATION OF BRANDING AND PACKAGING OF A PRODUCT

(A case study of NASCO Group of Companies Jos, Plateau State)

ABSTRACT

The objective of this project work is to highlight the important of branding and packaging to a product. This study is significant because, it will help in solving the statement problems of branding and packaging in marketing firm. A review of relevant literature done by other writes on this subject will be carry out by the researcher. It’s objectives in branding and packaging a new product is to have positive satisfaction from consumers and to gain the highest market share in a competitive marketing environment. The study aimed at identifying the strategies of branding and packaging in competitive product with the view to avoid new product failure. Summary, conclusion and recommendation will be made.

CHAPTER ONE

INTRODUCTION

1.0 Introduction

The ultimate aim of product is simple to satisfy the needs and wants of the consumer. A product should be given a unique brand name to distinguish it from other goods. The name should be distinctive and easy to pronounce and it should capture the essential product concept.

Packaging: The basic function of packaging is to protect the product; hence it must be durable so as to survive handing during distribution. Additionally, packaging fulfills an important promotion function branding and packaging as name implies are major items of promotion strategy.

The skill of professional marketers is the ability to create, maintain protect and enhance branding on other hand, developing a branding product which requires a great deal of long investment spending especially, for advertising, promotion and packaging .The research project aims is to examine the effectiveness of branding and packaging that is in existence in NASCO group of companies, Plateau State. The production manager is left with the choice of how to brand and package their product effectively so as to identify seller of the same product to differentiate them from that of their competitors.

1.1 Historical background of the case study

Innovation, diversification and growth with faith in the Nigeria economy, which diversified into the production of wide range of products manufacture through associated companies. The company started operation in 1963 with the establishment of Jute Bag Manufacturing Factory in Jos.

NASCO Food (Nigeria Limited) Jos, Plateau State produces the well-known NASCO biscuits in Nigeria 20 varieties to suite every state and every occasion. The company now produces cornflakes and wafers.

NASCO Pack Limited, Jos Is a manufacture of converter of packaging materials including corrugated sheets and boxes printed transweep film and poly bags cellophanes multicolour offset printed cartons and labels.

NASCO Confectionery Company Limited Jos Manufacturing arranges of sweet, jelly, bubbles gum, toffee and other confectionaries. The company’s products are targeted mainly for children and adult.

Nasco House Holds Products produces NASCO detergents soap action bonus brytex solar Hi powersplash, Nova, plus bar soap and beauty soap.

1.2 Statement of the problem

In carrying out this research, a lot of factors were identified as the possible problems of the successful branding and packaging of a product. The advantages and important of branding and packaging to the success of a product, while some condemns it, such problem are expressed as follow

Customer perception: This have a great effect in branding and packing, since it has to do with the way consumer or target audience fell and their attitude towards the product.
To find out the possible effect of intensive advertisement on a product
To establish the product differentiation and high quality product over competition items already in market.

1.3 Objective of the study

The objective of the study is mainly concerned with the effective branding and packaging implication for marketing firms where NASCO Company Jos is the case study under the marketing firms.

Because of the fact that we are using one firm in relation to other marketing firm may affect the generation of our findings as this project does not claim to have all fact about marketing firms due to some certain limitation but it all provide insight to our case study.

The general purpose of this empirical study is to assess the implication of branding and packaging of a product with reference to NASCO Group of Company Jos, Plateau State. The specific objectives are:

To assess the implication of branding and packaging of a product in an organization.
To determine the impact of branding and packaging in an organization.
To make recommendations based on the research findings.

1.4 Significance of the study

The project will be of important to the NASCO group of company .In adopting a more effective way in branding and packaging to take care of uncertainty in the future which is likely to occur in the industry especially in marketing new product.

The findings of the study will also be of immense benefit to other companies who may wish to carry out further research work on how branding and packaging can be used when a new product is introduced into the market. The finding will be useful to students, institutions who may be interested in research.

1.5 Statement of hypothesis

H_o: Proper branding and packing does not offer a superior protection to the product.

H_i: Proper branding and packaging offers a superior protection to the product.

1.6 Scope of the study

The study is limited to branding and packaging in a competitive marketing environment in NASCO Group of Company Jos, Plateau State.

1.7 Limitation of the study

Since constraints are features of every human activities limiting the means by which such activities are carried out it is therefore not expected that same constraint have impact on the quality of these research work and these limitation includes:

The time schedule for the completion of the research work was insufficient for detailed collection of data.
Financial constraint: Capital has been rated the most important resources to carry out a given project. Research work to this end was not left out because the information needed to write this project was not gathered in one place.

The researcher was also faced with financial problems. Researcher work is very tedious because it requires running from one place to another in search of information, books, Journals, paper and reports must be consulted but are not always available within, there was the need to travel to gather some of the materials which involved money. Also the researcher printed questionnaires which were distributed to the staff of NASCO Group of Company, Jos which also involved money.

Some respondent were skeptical to reveal certain information that were vital to the success of this research works.

1.8 Definition of terms

Logo: A printed symbols designs for used by company which serve as it special sign.

Symbol: A mark or sign with a particular meaning

Packaging: Is the general activities in product planning which involves designing and producing the container or wrapper for a product.

Brand name: Is that part of a brand that people can vocalize alterably e.g. NASCO water product NASCO

Trade name: Names use to identify a particular type of product or is the actual legal name of a company.

AN ASSESSMENT OF TAX POLICY AND ADMINISTRATION OF LOCAL GOVERNMENT ON THE GOVERNMENT COUNCIL

AN ASSESSMENT OF TAX POLICY AND ADMINISTRATION OF LOCAL GOVERNMENT ON THE GOVERNMENT COUNCIL

ABSTRACT

Tax is a compulsory levy on income, value of goods and services of individuals, partnership and companies derived from the government, that is, federal, state and local government. Taxation is therefore a compulsory levy imposed on individual organization called by tax authority or public authority with proper jurisdiction in order to defray public expenditure. Tax policy is a plan of action, statements of aims and ideas in relationship to charges made on income or certain types of goods. Taxation as it relates to local government is simply charges made by the local government on income or certain types of goods to help pay for running of the local government. Tax assessment is the ascertaining of actual number of tax payers in a particular area. The first policy in tax assessment is to enlighten those villagers whose tax is expected to be collected from them. They will know when the local staff will come for assessment and they wait for such exercise. After enlightenment, the proper assessment takes place and finally, becomes the actual collection of tax. Through the assessment, the tax is collected according to the number of assessment. The public responds favorable to government policies when it feels the political system protects their interest and encourages them to aspire un-hindered in their chosen careers in the same breadth, taxpayers will be much more forthcoming in discharging their tax obligations if they feel the state is for them than when they feel oppressed or derived of their fundamental rights. The population of government is a factor in relinquishing private resources to the state in the form of taxes. Citizens want to be satisfied that when paid their taxes will be honestly committed to finding the common weal, an assurance that only a good government can give. There is no tax collection without assessment. Therefore, tax assessment is the major key to tax collection, and one of the major sources of revenue to the local government.

CHAPTER ONE

INTRODUCTION

1.1 BACKGROUND OF THE STUDY

In this present time, it is obvious that the governments raises and spend funds to finance her activities and to provide practical mechanism of positive central control over the economy. Government expenditure is mainly directed towards the satisfaction of collective wants, that is, those wants which are common to all members of the society rather than to the particular ends of individuals. These collective wants included provision of law and order, administration of justice and defense of the country.

Therefore, for the government to meet this wants, there must be an enforcement of fiscal policy which is concerned with the provision of government revenue through taxation.

Tax as the name implies is a compulsory payment imposed on the citizens and companies by the government modern to attain her national goal and objectives.

According to A.K. AGYUEI, he states that tax is the transfer of resources from the private to the public sector, in other to accomplish some of the nation’s economy and social goals.

Therefore, taxation is the system whereby individual and companies are assessed and the final collection of funds for and used as a variable instrument for shaping and directing a nations social political effectiveness of the various types of taxes introduced.

However, for the purpose of the study, the researcher is more concerned with the main reason on how the government generates her own revenue from companies, individual and corporate bodies. One of the act regulating the taxation practice relating to companies income tax Acts 1979(CITA 1979)this Act is contained in chapter 60 law of federation of Nigeria (LFN 1990).it is a consolidation of the provision of the formal principal Act. The companies’ income tax Acts 1916 and the various amendments were top in other to ascertain the extent, to which such profits were incurred in Nigeria, derived from Nigeria, received in Nigeria or brought into Nigeria. The companies’ income tax Act (CITA, CAP6O, and LFN 1990) classified companies into two broad categories namely:

1. Nigeria companies

2. Foreign companies

Companies classified as Nigeria companies for the purpose of Nigeria taxation are those companies incorporated under the companies allied matters decree(CAMD 1990) Or any enactment replaced by that decree. Any profit made by such companies shall deemed to have either incurred in Nigeria, been derived from Nigeria, received in Nigeria, and brought into Nigeria, such profit thereafter be subject to Nigeria companies income tax irrespective of where they have actually arisen. By constitutional arrangement, the taxation of companies in Nigeria is vested In the federal tax authority thus irrespective of where a company may be located in Nigeria. it is under federal tax jurisdiction.

Companies classified as foreign companies for the purpose of Nigeria taxation are those company corporation (other than corporation sole) established by or under any law. in force in any territory or country outside Nigeria, any profit made such companies shall be to have incurred, been derived from, or arisen from outside Nigeria to the extent that they are not attributed to the activities within Nigeria.

Tax is payable for each year of assessment of the profits of any company at the rate of 30%.these include profit incurred, been derived from, brought into or received from a trade business or investment. Also, companies paying dividends to its shareholder are first obliged to pay tax on its profits at the companies’ tax rate.

Generally, in Nigeria company dividends or other company distribution whether or not of a capital nature made by a Nigeria company is liable to tax source of 1O%.However, dividends paid from the bonus of share of scrip share to individual shareholder are not subject to tax, were also a company is a shareholder in another company, then such dividends are excluded from the profit of the company br the purpose of computation of tax.

1.2 STATEMENT OF PROBLEM

Taxation has been a major tool thought which governments generate her revenue for the sole aim of allocation. Such generated revenue on the various facilities needed for the standard of living for her citizens and presently this service is an immense importance in improving the Nigeria economy. Company income tax cannot be overlooked because it serves as one of the major source of revenue to the government and to the federation account. Company income tax helps the federal government to generate revenue, create employment and also to help the government to know the companies that are registered and the ones that are not registered. There had been so many companies in Nigeria and the income generated from these companies as company income tax has not been able to meet some of the required facilities to better the Life0 of tax payers and these has create a big problem and many are wondering if the income tax has not been utilized judiciously.

1.3 OBJECT WES OF THE STUDY

Despite emotion of tax payer on why the government should take part of the legitimate earnings of persons, certain reasons can be advanced to justify government in position of tax in any country. Some of these reasons are stated as follows:

I. REVENUE GENERATION: Provision of service and infrastructure facilities entails huge expenditure. Most of the services and facilities are public goods which cannot be adequately financed by individuals. Revenue realized from taxes, are used to cover such public expenditure such as school, roads, water supply etc.

2. ECONOMIC STABILIZATION: When a country is facing some economic problems like inflation and poor economy used to bring about a change in case to inflation, high rate of taxes will be charged to reduce the disposable income in the hand of the consumer which in turn reduce the demand of goods and services and which in a long run bring about low prices. Taxes can also be used to sustain economy growth when a country is experiencing a depression, in this case, taxes will be lowered to increase disposable income in the hand of consumers and thereby increasing the demand for goods and services the multiple increases of income, output and employment.

3. REGULATNG OF ECONOMIC ACTIVITIES: Government can use taxes in regulating micro economic activities like consumption and production patterns. When the government intends to discourage the consumption of certain goods and services tax, for such goods and services will be increased and reduced when consumption is to be encouraged, imposition of impact duties. This applies when there is need to encourage or discourage production patterns.

4. RE-DISTRIBUTION OF INCOME: Government levy progressive tax to reduce disparities or difference in the standard of living between the rich and the poor.

1.4 RESEARCH QUESTION

i. What are some of the tax and factors that are militating against the collection of company income tax?

ii. What measure has been put in place to ensure that all the companies understand the system of tax and the importance?

iii. What important role has the company income tax played on the federation revenue funds?

1.5 SIGNIFICANCE OF STUDY

This research work will be useful to the government in planning her fiscal policy as regards improving the Nigeria economy. This reason is that much emphasis will be placed on the companies income tax of which in the past generation over 30% of the government revenue instead they concentrated solely on petroleum (oil sector)ineffective in centrally disposable income and inflation, thus, the research work is to urge the government in paying more attentions on company income tax, also government should use the excess income from the oil sector and allocate such sector like agriculture, industries to mention, but a fence of the Nigeria economy so as to strengthen government tax policy.

1.6 SCOPE OF THE STUDY

Though there are other agencies which the government use in collecting tax, this research work is only restricted to the revenue mobilization, fiscal allocation commission Abuja for easy access to data kept by them and also with the help of seminar 4paper presented at the chartered institution of taxation. Other reasons are the time factor and financial constraints which also hindered this research work in acquiring more data from other sources.

1.7 DEFINITION OF TERMS

TAX: A tax is a compulsory levy imposed by the government or public authority on the income, profit or wealth of an individual, community, corporate body etc. for public purpose.

TAXATION: Taxation can be defined as the processor system of raising an income through the levying types of taxes. The extent to which taxation can be used as veritable instrument shaping and directing nation socio-political economic financial activities various types of taxes.

COMPANY: The court defined company as a justice person having no physical existence of its own but recognized by law as performing its functions through agents and servants who do exist physically. Company can broadly be classified into the following types in accordance with their mode of formation.

ASSESSMENT OF INCOME: This is the amount of income after charging expenses and outgoing against the gross income from each source in the year immediately preceding the year of assessment.

VALUE ADDED TAX: Value added tax is a tax payable on the supply of services they purchase. (input VAT is charged VAT on goods and services they supply output VAT),input VAT relates the goods and services purchased or imported directly for resale and goods which from the stock in trade used for the manufacturer production of any new product on which the output tax is charged.

WITHHOLDING TAX: Tax is an advance tax on income deducted at source, in some cases; it is the final tax most especially when it is paid to nonresident recipient. The tax payable to the relevant tax authority.

COMPANY INCOME TAX: Tax is payable on each year of assessment profit of any company at a specific rate. Company income tax is assessed on all the profits of any company that is incurring in, derived from, brought into or received in Nigeria in respect of any trade or business for whatever period of time such trade or business may have been carried on.