Business Model Innovation and Competitive Advantage of Fast-Moving Consumer Goods in Lagos, Nigeria

The study’s main objective was to investigate the relationship between business model innovation and competitive advantages, such as value generation and value proposition innovation in a few fast-moving consumer items in Lagos, Nigeria. The research questions and hypotheses were created to support the goal of the study. For the survey research method used in the study, Taro Yamane was used to choose a sample size of 177 respondents from the 319 total population. A structured questionnaire served as the main data collection method, and respondents were selected using a stratified sample technique to guarantee their equitable representation in the population. The data was analysed using basic percentages and ordinal logistic regression at a 0.05 level of significance. The findings showed that the new coordinates that statistically impacted competitive advantage at a 0.05 level of significance were valued creation innovation (3.246), value proposition innovation (3.298), competitive advantage (4.323), and PV (0.000). According to the research’s results, competitive advantage in several fast-moving consumer goods in Lagos, Nigeria, may be impacted by relational factors such as value creation, value proposition, creative process, and value capture. Accordingly, it was suggested that value creation innovation is crucial for firms to maintain their competitiveness in the quickly changing business environment of today. By continually innovating and delivering greater value to customers, organizations can differentiate themselves from competitors, attract and retain customers, and drive sustainable growth and profitability.