Abstract:
New companies require brand development strategies. The aim of the study was to establish the effectiveness of ingredient branding strategies on customer purchase intention towards new market entrants in the South African stud buffalo breeding market.
The study was quantitative in nature and descriptive in design, with demographics, operational background and branding data gathered through a structured survey in the form of a closed questionnaire administered by the researcher. The sample comprised 27 stud buffalo breeders across South Africa.
The findings supported ingredient branding as having a positive influence on customer purchase intention towards new market entrants for both the host and ingredient brand. Strategic brand partnership through ingredient co-branding between a well-known brand and a new market entry found positive influence on customer purchase intention towards the new market entry. The results were inconclusive regarding strategic brand partnership through ingredient co-branding between a well-known public figure and new market entrant having a positive influence on customer purchase intention.
