Artificial Intelligence and Market Strategy of Selected Brewery Firms in Nigeria

Abstract

The integration of artificial intelligence (AI) technologies, including AI-driven demand forecasting tools and AI-powered customer segmentation, has emerged as a pivotal factor in shaping market strategies within the global brewery sector. This research focused on AI on market strategies of selected brewery firms in Nigeria. A descriptive research design was employed, utilizing simple random sampling to gather data from respondents. Questionnaires were distributed to employees of Nigerian Breweries Plc and Guinness Nigeria Plc, targeting a population of 1,234 individuals across the Production, Marketing, Supply Chain, and Information Technology (IT) departments. A sample size of 302 was determined, with an additional 20% margin of safety, resulting in a final sample size of 362. The collected data were analysed using inferential statistics and regression analysis at a 5% significance level to evaluate the study's hypotheses in alignment with the objectives. The findings indicated a significant correlation between the use of AI-driven demand forecasting tools and the effectiveness of promotional strategies in Nigerian brewery firms, specifically Nigerian Breweries Plc and Guinness Nigeria Plc. The study concluded that there is a notable relationship between the adoption of AI-driven demand forecasting tools and the success of promotional strategies, AI-powered customer segmentation and the efficiency of distribution strategies within these firms. The research recommended that the management of Nigerian brewery companies should embrace a data-driven approach, utilizing insights derived from AI tools to enhance promotional strategies, optimize inventory management, and improve resource allocation. This approach can help these firms remain competitive and responsive to market dynamics.