The Nigerian Business terrain presents a bundle of challenges which only the discerning business man can exploit its full potentials.
With a conservative estimated population of 140Million, 6 goe-political zones each with its unique product endowment, 36 federating states, and over 700 local governments you will discover that its potentials are indeed great.
The snag however is that the Nigerian business waters can only be swam by the bold and daring, equipped with a sound knowledge of the market place and consumer perception peculiar only to the Nigerian populace. Take for instance the law of demand and supply which does not hold in Nigeria, more often than not the very opposite always happen.
Quite recently, business have also discovered the sensitivity of the Nigerian market to brands and colours. While this may not be peculiar to Nigeria, the twist is that, the extent to which brand loyalty and identity hold sway on the Nigerian Consumer strongly depends not only on the intrinsic value of the product but the extent to which the brand has been able to show some support towards the welfare of individuals, community, and state. A typical case for study is the aggression expressed by Operators in the Telecommunications as well as the Banking sectors, with each trying to outdo the other in terms of Corporate Social Responsibility (CSR), and their ability to convincingly express the benefits of such to the average man on the street. Now, that is where most companies get it wrong.
Through the deployment of right Public Relations or Corporate Communications mix, an organisation is able to leverage on the benefit of building and maintaining a sound relationship with her various publics which if managed professionally from the strategic decision making level has the potential of creating a boom at a cost that will be moderate.
Therefore, companies wishing to maximise returns on every Naira spent in the image building and sustaining process should start making decisions from now and engage creative and competent consultants who will not only be able to deliver but can at a cost friendly to the budget.
Getting ahead, requires constructive and proactive engagement with a strong strategic decision to do the unusual in order to get unusual results as the yuletide is approaching.
GO A-BRANDING AND SUCCEED.
With a conservative estimated population of 140Million, 6 goe-political zones each with its unique product endowment, 36 federating states, and over 700 local governments you will discover that its potentials are indeed great.
The snag however is that the Nigerian business waters can only be swam by the bold and daring, equipped with a sound knowledge of the market place and consumer perception peculiar only to the Nigerian populace. Take for instance the law of demand and supply which does not hold in Nigeria, more often than not the very opposite always happen.
Quite recently, business have also discovered the sensitivity of the Nigerian market to brands and colours. While this may not be peculiar to Nigeria, the twist is that, the extent to which brand loyalty and identity hold sway on the Nigerian Consumer strongly depends not only on the intrinsic value of the product but the extent to which the brand has been able to show some support towards the welfare of individuals, community, and state. A typical case for study is the aggression expressed by Operators in the Telecommunications as well as the Banking sectors, with each trying to outdo the other in terms of Corporate Social Responsibility (CSR), and their ability to convincingly express the benefits of such to the average man on the street. Now, that is where most companies get it wrong.
Through the deployment of right Public Relations or Corporate Communications mix, an organisation is able to leverage on the benefit of building and maintaining a sound relationship with her various publics which if managed professionally from the strategic decision making level has the potential of creating a boom at a cost that will be moderate.
Therefore, companies wishing to maximise returns on every Naira spent in the image building and sustaining process should start making decisions from now and engage creative and competent consultants who will not only be able to deliver but can at a cost friendly to the budget.
Getting ahead, requires constructive and proactive engagement with a strong strategic decision to do the unusual in order to get unusual results as the yuletide is approaching.
GO A-BRANDING AND SUCCEED.
Posts
No comments:
Post a Comment