• Wednesday, May 22, 2024
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BusinessDay

Marketers told to rethink practice as tech alters age-old marketing conventions

Kola Oyeyemi, the president of Advertising Association of Nigeria (ADVAN) has warned his colleagues in the marketing profession against relying on historical marketing practice in the face of transformations occasioned by digital revolution.

It is Oyeyemi’s strong belief that technology is revising age-old marketing conventions.

Speaking at this year’s ADVAN marketers’ award in Lagos where Milo emerged as the brand of the year, Oyeyemi who is general manager at MTN told marketers that technological advancement and convergence of industries have redefined the entire spectrum of marketing practice.

Discussing ‘Marketing in the 21st century’,  he said with technology,  the 21st century customer is a global citizen resident in the neighborhood and many of them are so empowered by the internet and the digital media that they can compare prices with similar brands offering similar benefits across the globe at the click of a button. “They are powerful that sometimes they determine the success or failure of brands”.

Oyeyemi who recently launched a book on ‘Kill or Get killed, said if marketing starts and ends with the consumer, then the practice cannot remain the same in the light of changing consumer.

Historically customer involvement and inclusion in the production creativity process was limited to test marketing. But he said in this century the mantra is co-creativity. “We live in era the customer collaborate with the manufacturer to develop propositions based on their preferences and not just on the creativity of the manufacturer”.

Assessing the emergence of mobile phones, he said the biggest impact of the mobile device is grand convergence. “Other industries and sectors such as finance, media, and insurance among others are now converging on the mobile and this is transforming the competitive space”. This has redefined competition and the practice of marketing, he said.

According to him, the future is here and the impact will hit different sectors at different times and at varying degrees.”It is therefore imperative as marketing professionals to continually rethink the practice, retool practitioners and embrace a new mindset that no longer view business from only a sustainable competitive advantage but see business, strategy and practice of marketing from a transient competitive advantage perspective.  Let us embrace the future”.

The award was instituted in 2008 to celebrate and reward excellence in the practice of marketing and marketing communication profession and the intention is to raise standard so that the platform provided by ADVAN and others can together help to advance the course of marketing and business practice.

Other winners at the 2014 award include Goddie Ofose, who won Brand Journalist of the year; Star clinched experiential  marketing award; MTN won digital marketing while Milo also won Consumer promotion and  campaign of the year awards. Origin from the stable of Guinness won innovation award.

Daniel Obi