Brands & Advertising – Businessday NG https://businessday.ng Tue, 01 Dec 2020 11:14:13 +0000 en-US hourly 1 https://wordpress.org/?v=5.5.3 185697343 9PSB launches, promotes innovative customer service https://businessday.ng/brands-advertising/article/9psb-launches-promotes-innovative-customer-service/ https://businessday.ng/brands-advertising/article/9psb-launches-promotes-innovative-customer-service/#respond Tue, 01 Dec 2020 11:14:13 +0000 https://businessday.ng/?p=502555 As part of efforts to provide exceptional customer service and reduce the financial exclusion rate among Nigerians, 9PSB, a payment banking company, has unveiled its slogan tagged, Our Bank. Designed to operate simpler, convenient and more reliable channels for customers to conduct financial services, 9PSB is said to be the first Payment Service Bank to […]]]>

As part of efforts to provide exceptional customer service and reduce the financial exclusion rate among Nigerians, 9PSB, a payment banking company, has unveiled its slogan tagged, Our Bank.

Designed to operate simpler, convenient and more reliable channels for customers to conduct financial services, 9PSB is said to be the first Payment Service Bank to address critical challenges of the financially excluded customer demography in Nigeria. With the *990# code, customers can own an account with 9PSB and enjoy value-driven propositions with their financial transactions.

Read Also: Banks mobilise N1trillion to support gas expansion programme

This much was revealed at a recent panel discussion with the theme: Examining the challenges facing Nigerian banks and payment industry and how 9PSB can revolutionize the financial sector.

While examining the 9PSB approach, seasoned Fintech analysts on the panel, which includes Ashley Immanuel, Tunji Andrews, Tracia Ikponmwonba and Adejuwon Soyinka, unanimously agreed that players within the banking sector must be prepared to offer innovative solutions to customers in order to engender trust and flatten the curve among financially excluded rural and urban Nigerians.

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OK Foods empowers consumers with cash prizes, items https://businessday.ng/brands-advertising/article/ok-foods-empowers-consumers-with-cash-prizes-items/ https://businessday.ng/brands-advertising/article/ok-foods-empowers-consumers-with-cash-prizes-items/#respond Tue, 01 Dec 2020 10:03:26 +0000 https://businessday.ng/?p=502539 As part of its measure of empowering Nigerians, OK Foods, a member of Olam Group has continued to reward consumers with cash and gift prizes in its product campaign. Last week, two of the company’s customers, Ogor Ann Obiageri, an entrepreneur and Adam Deborah, a student of sociology at University of Lagos received N1m and […]]]>

As part of its measure of empowering Nigerians, OK Foods, a member of Olam Group has continued to reward consumers with cash and gift prizes in its product campaign.

Last week, two of the company’s customers, Ogor Ann Obiageri, an entrepreneur and Adam Deborah, a student of sociology at University of Lagos received N1m and iphone respectively.

The company had at the beginning of the campaign in August this year set aside a total of N60m to reward customers who win various prizes including cash, phones and airtime in its product campaign.

Read Also: Replenishing strategic grain reserves will cushion effect of food scarcity Expert

Receiving her award, Obiageri who was surprised but elated for winning N1m said she bought Pure Bliss Biscuit and sent the found code to a particular number as stated. She was surprised when she was contacted for winning N1m.

Obiageri said she will deploy the money into her existing clothing and money agent business. On her part, Deborah who said she was not expecting such an expensive phone was grateful to Ok Foods for the gift.

Speaking earlier, Oluwaseyi Aderebigbe the brand manager said the company had a total of N15m to be given out to 15 people, high- end iphone for 12 winners, 24 Tv sets, airtime for winners. She said seven winners had emerged as at last week.

According to her, the product campaign will be on till the end of the year or till stock lasts. On what motivated the reward, Oluwaseyi said it is an avenue to reward Nigerians and empower people.

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Nigeria Tech Awards: TERAWORK wins best tech start-up award https://businessday.ng/brands-advertising/article/nigeria-tech-awards-terawork-wins-best-tech-start-up-award/ https://businessday.ng/brands-advertising/article/nigeria-tech-awards-terawork-wins-best-tech-start-up-award/#comments Tue, 01 Dec 2020 09:53:29 +0000 https://businessday.ng/?p=502529 In a bold affirmation of its contribution to raising the levels of corporate productivity and expanding the opportunities available to professional freelancers, TERAWORK, a platform that outsources global and local independent experts to businesses, has emerged as the Best Tech Startup and Best Freelance Marketplace at the Nigeria Technology Awards (NITA) held recently in Lagos. […]]]>

In a bold affirmation of its contribution to raising the levels of corporate productivity and expanding the opportunities available to professional freelancers, TERAWORK, a platform that outsources global and local independent experts to businesses, has emerged as the Best Tech Startup and Best Freelance Marketplace at the Nigeria Technology Awards (NITA) held recently in Lagos. The award added to the firm’s growing list of honours that include Forbes Best 200 startups.

Nigeria Technology Awards (NITA) is organized annually to celebrate and reward Technology Entrepreneurs, Innovators, Inventors, Academicians and key government policymakers in Nigeria. According to information provided by Beta Media, the organizer of the awards, the event aims to promote and commend the excellent achievements to which Nigeria technology professionals and organizations contribute towards building a sustainable economy using technology.

Read Also: Brandcom awards: Significance of reward system

Speaking about the double recognition, Titi Taiwo, Chief Operation Officer (COO) at TERAWORK, in a statement said, “TERAWORK Prioritizes excellent performances internally and demands higher standards of delivery from its freelancer community as part of a commitment to helping businesses hiring independent experts through the platform to achieve commercial success by raising the quality standards of products and services with a strong focus on the bottom line”.

“Absolutely, this is the reason businesses globally turn to us to source for professional freelancers that can optimize the output and work delivery quality along their value chain at reasonable costs. These awards, therefore, lay credence to our overall efforts devoted to enhancing business’ operating models and boosting the opportunities available to professional freelancers to earn sufficient incomes”.

As the total addressable market for the Gig Economy, where freelancers are strong players, reaches $1.5 trillion in value globally, several outsourcing platforms have crept up to connect independent skilled workers to organizations which buy freelance services to beef up output at a reduced cost. TERAWORK, Fiverr and Upwork are some of the outsourcing platforms known for helping freelancers earn a good income.

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Investor confidence threatened as Buhari-led government moves to manage N200b unclaimed dividend https://businessday.ng/brands-advertising/article/investor-confidence-threatened-as-buhari-led-government-moves-to-manage-n200b-unclaimed-dividend/ https://businessday.ng/brands-advertising/article/investor-confidence-threatened-as-buhari-led-government-moves-to-manage-n200b-unclaimed-dividend/#respond Tue, 01 Dec 2020 09:41:57 +0000 https://businessday.ng/?p=502491 Economy analysts and legal practitioners have stood against the Buhari led government’s plans to manage the unclaimed dividend standing at about N200 billion. Due to the question of trust, the analysts posit that if government is allowed to manage the funds, it will likely erode investor confidence which will even lead to some quoted companies […]]]>

Economy analysts and legal practitioners have stood against the Buhari led government’s plans to manage the unclaimed dividend standing at about N200 billion.

Due to the question of trust, the analysts posit that if government is allowed to manage the funds, it will likely erode investor confidence which will even lead to some quoted companies de-listing from the capital market.

Owing to shortage of revenue, especially from oil to fund economic development, Buhari-led government recently sent a bill to National Assembly proposing that the unclaimed dividends be managed on behalf of shareholders through Unclaimed Dividend Trust Fund.

But in his view on the legality of the proposal while speaking on Channels Morning programme recently, the President of Institute of Chartered Secretaries and Administrators of Nigeria, ICSAN, Bode Ayeku described the proposal as very strange believing that if the proposal sails through, a lot of listed companies will delist as there will be loss of confidence.

The proposal “is an infringement on the rights of shareholders” as stipulated by principle 23 of the Nigerian Code of Corporate Governance 2018, which underlines the protection of the right of the shareholders.

Read Also: Autochek raises $3.4M pre-seed fund from investors

According to him, why shareholders buy shares is to earn dividend, and if a third party is trying to expropriate what belongs to shareholders, it is contrary to the right of the shareholders, Ayeku said. The move is also contrary to the provisions of the Nigerian Constitution which gives every Nigerian the right to property. “When government attempts to expropriate what belongs to an individual it is contrary to the right of every Nigerian which is guaranteed in the Constitution”.

What makes the intention of government of planned expropriation of the unclaimed dividend unfair, is that government had already collected 30% as corporate tax, 2% as education tax and 10% withholding tax which brings it to a total of 42%.

“Now government is saying that it wants to be interested in the remaining 58%. Then the question is whether government has any investment in these shares”. Ayeku maintained that government should rather be interested on how to address the unclaimed dividend issue.

Also speaking on the programme, another legal practitioner, Jiti Ogunye agreed that Nigeria presently is going through rough times and that puts pressure on government to manage the economy which results to various mean including borrowings but said if dividends are unclaimed, government should be extremely interested on how the dividends will be claimed.

Ogunye said there are many reasons dividends are unclaimed such as share value depreciation, reason of death, lack of identification shareholders but said government should be interested in ensuring justice that the shareholders or their relatives get their dividends.

The lawyer believed that when government manages the fund under the Unclaimed Dividend Trust Fund, there will likely be bureaucratic stone wall and bottlenecks when the shareholders wake up to claim their money even as little as N5,000 or N10,000.

On how to resolve the unclaimed dividends, Ogunye suggested for reforms to ease the issue of succession of properties. It is the responsibility of law makers to revisit archaic laws that are causing pains such as laws on unclaimed dividends and make them implementable.

He also both the companies from which the shares were purchased and the capital market operators need to come together, synergise and assist in resolving the issues of unclaimed dividend.

The analysts said the process of accessing the unclaimed dividends should be simplified to allow ease of payment of the dividends. According to him a single form where a shareholder can list all his/her shares in other companies is enough to allow a shareholder access other registrars for payment within a time frame. They agreed that there should be provision for default beneficiaries at the time of purchase of the shares.

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Brandcom awards: Significance of reward system https://businessday.ng/brands-advertising/article/brandcom-awards-significance-of-reward-system/ https://businessday.ng/brands-advertising/article/brandcom-awards-significance-of-reward-system/#comments Tue, 01 Dec 2020 09:32:14 +0000 https://businessday.ng/?p=502512 Globally, brands are happier and they flaunt it when independent credible sources recognise their efforts in both nation building and consumer satisfaction. This is exactly what happened when brands stepped out to receive their awards at Brandcom awards. Daniel Obi reports. Awards are important and every organisation should strive for recognitions. Awards bring local and […]]]>

Globally, brands are happier and they flaunt it when independent credible sources recognise their efforts in both nation building and consumer satisfaction. This is exactly what happened when brands stepped out to receive their awards at Brandcom awards. Daniel Obi reports.

Awards are important and every organisation should strive for recognitions. Awards bring local and international credibility to such organisations; no wonder organisations that win awards flaunt them.

Awards can lift the self-esteem, motivation and commitment of employees by showing them that the brand is recognized employer within the industry it operates and it is willing to take the extra mile to provide value to customers, says the ladder site.

Experts also say that winning a business award provides a credible third party endorsement for your company. “Depending upon how prestigious the award is, it could give a stamp of approval on your business. Customers and vendor partners will feel better about their business relationship with your company”, says Releypr CEO, Heather Repley in her site.

Awards separate companies from advertising messages which consumers receive daily as awards are from independent sources that have examined the companies for credible industry awards.

It was on this understanding to recognise and reward some companies that Brand Communication under its annual Brandcom awards recognised some brands in its 2020 awards. The brands indeed stepped out to receive the awards.

For instance, for its remarkable works and outstanding performances in the year, Multichoice, Pepsi, The Lacasera Company PLC, Access Bank, Domino’s and other notable brands including integrated marketing communications (IMC) agencies and individuals were among those brands honoured at the prestigious Brandcom Awards 2020.

Similarly, the trio of Enyi Odigbo, Chairman, Casers Group; Nn’emeka Maduegbuna, Chairman of C&F Porter Novelli and Dozie Mbanefo, Managing Director of New Crystal Communications Limited who are respected professionals of advertising, Public Relations and Out-of-home ( OOH) Adverting respectively were inducted into the prestigious Brandcom Awards Hall of Fame for their enormous contributions to the development of the IMC industry through their various subsectors.

The awards in its second edition, organised by Brand Communicator, a foremost brands and marketing publication, was held on November 27 at D’podium Int’l Event Centre, Lagos. It was a night of glamour and celebration which recognized excellence, professionalism, innovations and creativity. It also had all the Crème de la crème in the brands and marketing industry gathered in a hall to connect with their peers, celebrate together and get inspired to do more.

In a nutshell, Brandcom Awards is a celebration of the exploits and achievements of brands, agencies and notable players who are making remarkable impacts in the brands and marketing industry.

Speaking about the awards, the Convener of Brandcom Awards, Joshua Ajayi said the platform was created to recognise deserving brands, agencies and individuals that have been contributing immensely to the growth of the industry and the country at large.

“At Brand Communicator, we felt this industry deserves better, hence we came up with the maiden Brandcom Awards in 2019. This year, we have expanded the scope and categories of the awards to make it bigger and more prestigious.

“In line with our tagline of Prestige, Integrity and Credibility, we had a panel of assessors set up to painstakingly review our nominations. The result is all the agencies, brands and individuals here present to receive one form of recognition or the other for their performances this year despite the challenges and peculiarities that came with the year 2020,” he explained.

Deserving Brands and Agencies

In the brand category, JOTNA ( The Lacasera Company PLC) brands won big with Bold emerging Brand Launch of the year; Lacasera HERO/TINAF winning the CSD Campaign of the year and SMOOV crowned the Chapman Drink Brand of the Year.

Also, Pepsi won big as well, it was awarded the carbonated soft drink brand of the year and most engaging CSD brand of the year. Similarly, Access Bank clinched the SME Friendly Bank of the Year and Best Brand in Sustainability.

Moreover, Mutlichoice clinched three notable awards, it emerged Brand of the year, also one of its brands, Dstv clinched PAYTV brand of the year and its Big Brothernaija (Reality TV Show) emerged the Most Engaging TV Content of the Year.

Read Also: UBA gets double honours at BAFI Awards

Some of the other brands honoured are Mouka Foam, Beddings Brand of the Year; Darling Hair, Hair Care Brand Of the year; TomTom, Candy brand of the year; Molfix, Diaper Brand of the Year; Dulux Paint, Paint Brand of the Year, WAW, Detergent brand of the year; Dano, Dairy brand of the year and Maltina, Malt drink brand of the year.

For the advertising category, Insight Redefini emerged as the Marketing communications Group of the year; Noah’s Ark emerged the Creative Advertising Agency of the year; Young creative advertising agency of the year went to Streams Communications and Young Creative Agency of the year (Northern Region) was received by Eagleserve Consultant LTD.

RED WOI.F clinched the Digital Marketing Agency of the year while Dott Media House emerged the Young Digital Marketing Agency of the year.

Experiential Marketing agency of the year went to GDM Group; Media Reach OMD was also crowned the Most Innovative Media Independent of the year; IBST Media clinched the Audio Visual Production Company of the year, Moore Advice smiled home with Visual Branding Agency of the year and BHM emerged Public Relations Agency of the year and Young Public Relations Agency of the year went to Media Panache.

In the same vein, New Crystal Communications was crowned the Out-of-home Advertising agency of the year while Slice Media emerged the Young Out-of-home Agency of the year.

X3M Ideas clinched two notable awards which include Best Agency in Sustainability and Marketing Communications Agency of the Year while OUTORI was awarded the Most Outstanding Activation of the Year for its initiative Sweet6ixty, and Hibrid Studio by Abelinis emerged the Below the Line Innovation of The Year among other awards received by some other agencies.

Individuals Doing Extra- Ordinary Things

Individuals making a difference in their respective field were also honoured at the awards.

For instance, The CEO of Lacasera Company PLC, Chinedum Okereke emerged the CEO of the year (FMCG) and in the Financial Service, Herbert Wigwe of Access Bank emerged the CEO of the year.

In the Beddings category, Raymond Murphy emerged the CEO of the year while CEO of the Year (Media and Entertainment) went to John Ugbe of Multichoice and CEO of the year (Fintech) went to Mitchell Elegbe of Interswitch.

In the QSR category, Patrick Mcmichael of Eat n Go emerged CEO of the year, and the CEO of the year (Hair Care) went to Chitwan Singh while Ayodele Otujinrin won the Marketing Professional of The Year, both from Darling Hair.

Some of the other recipients of the individual awards are: Steve Babaeko of X3M Ideas as the CEO of the year (Creative Advertising); Gbenga Victor Afolabi of GDM Group, CEO of the year (Experiential Marketing); Emmanuel Agu ( JOTNA), Marketing director of the year; Segun Ogunleye (SevenUp Bottling Company), Marketing Manager of the year; Bridget Oyefeso-odusami of Stanbic IBTC, Corporate Communications Professional of the year(financial Services) and Abigail Okala (Pepsi), Brand Manager of the year

Others are Folashade AmbroseMedebem of Lafarge, Sustainability Professional of the year; Tolu Olanipekun of Mouka Foam, Marketing Manager of the year (Bedding); Roseline Abaraonye of Hayat Kimya, Marketing Manager of the Year (FMCG); Charles Jenarius of Globacom, Marketing Communications Director of the year IT and Telecom; Caroline Oghuma of Multichoice, Corporate Communications Professional of the year and Raheem Akingbolu of This Day, Brand Journalist of the year.

The Hall of Famers

Recall at the maiden edition of the awards held last year, the doyen of advertising in Nigeria and Chairman, Troyka Holdings, Biodun Shobanjo was honoured with the prestigious ‘Hall of Fame’ recognition, the biggest honour for the night for his many contributions to the growth of the IMC industry in the country and Africa as a whole.

This year, three respected individuals were honoured and according to Ajayi, the hall of fame recipients have contributed immensely to the IMC industry, the business community and the country at large. Hence, they deserve the awards and it would inspire the younger ones to be the best they can be.

Noteworthy that Enyi Odigbo is a visionary, but he’d prefer to be known as an integrator. Enyi won the DDB franchise in 2000, and in the last decade his group has expanded to include Capital Media- one of the region’s largest independent media buying companies, Magenta—a digital company, and now a new partnership with Fin International, the financial branding consultancy.

Nn’emeka Maduegbuna on his own part has over three decades of experience in strategic communications planning, corporate positioning and reputation management, as well as extensive practice in corporate and financial communications, public affairs, crisis management and litigation communications.

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Nigeria’s Polo strengthens partnership with French luxury goods conglomerate https://businessday.ng/brands-advertising/article/nigerias-polo-strengthens-partnership-with-french-luxury-goods-conglomerate/ https://businessday.ng/brands-advertising/article/nigerias-polo-strengthens-partnership-with-french-luxury-goods-conglomerate/#comments Tue, 24 Nov 2020 10:26:57 +0000 https://businessday.ng/?p=498492 polo luxuryPolo Luxury, Nigeria’s foremost luxury goods retailer that specializes in highend watches/timepieces has entered into partnership with French luxury goods conglomerate, owners of Cartier brand of watches to unveil Pasha De Cartier watch to West African consumers. The French luxury watch and jewellery brand established its presence in Nigeria over 10 years ago, through its […]]]> polo luxury

Polo Luxury, Nigeria’s foremost luxury goods retailer that specializes in highend watches/timepieces has entered into partnership with French luxury goods conglomerate, owners of Cartier brand of watches to unveil Pasha De Cartier watch to West African consumers.

The French luxury watch and jewellery brand established its presence in Nigeria over 10 years ago, through its exclusive partnership with Polo Luxury Group. Now it is bringing the group’s Pasha Watch brand to the country.

To mark the arrival of the latest Cartier collection in Nigeria, Polo Luxury organised an exclusive showcase in its flagship store. The prestigious activation was specifically curated to suit Polo’s clients’ desires by providing a respite for shoppers, and a luxury watch haven for enthusiasts and VIP clients.

This Pasha De Cartier collection presents an upgraded take on the established 1975 edition. The timepieces are available in steel and gold, and full gold, with some versions set in diamonds. The design features a winding crown set with blue sapphire. The watch was first designed in 1985, 35 years later, it still retains its initial magic. This collection is one of the great success stories of the brand, fusing functionality, high design and boldness to create the most exclusive, stand out pieces.

Read Also: Hope rises for female owned business that suffered losses during the COVID-19 pandemic

Speaking on the arrival of the Pasha De Cartier in Nigeria, Managing Director of Polo Luxury, John Obayuwana said “It is a privilege for Polo Luxury Group to be the exclusive partner in Nigeria for Cartier, one of the world’s most prestigious brands.

“We are excited to be launching the Pasha De Cartier in Nigeria after 10 years. It is a truly unique timepiece with a captivating design, and it epitomises Cartier’s commitment to exclusive craftsmanship. We are thankful to all our clients and friends who keep faith in the magical world of the Pasha De Cartier at Polo Luxury”.

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Second recession in 5 years causes heavy breathing for marketing communication industry https://businessday.ng/brands-advertising/article/second-recession-in-5-years-causes-heavy-breathing-for-marketing-communication-industry/ https://businessday.ng/brands-advertising/article/second-recession-in-5-years-causes-heavy-breathing-for-marketing-communication-industry/#comments Tue, 24 Nov 2020 10:10:47 +0000 https://businessday.ng/?p=498463 Recession in NigeriaAfrica’s largest economy has slumped into recession, the second in five years and marketing communication operators fear that this will prolong the unpleasant business environment the industry has faced in recent time. The multi-billion naira marketing communication industry depends largely on the performance of other businesses which are affected by the economy. Kelechi Nwosu, the […]]]> Recession in Nigeria

Africa’s largest economy has slumped into recession, the second in five years and marketing communication operators fear that this will prolong the unpleasant business environment the industry has faced in recent time.

The multi-billion naira marketing communication industry depends largely on the performance of other businesses which are affected by the economy. Kelechi Nwosu, the managing director of TBWA Concept told BusinessDay that the industry is already affected as “the industry grows when the economy grows”.

Nwosu, former president of Association of Advertising Agencies of Nigeria, AAAN put it directly that the consequence of the recession will be adverse. “The recession was not unexpected as the signs were open following activities which slowed down in the Q1 and Q2 due to Covid-19. But what we should be asking are the innovative ways the industry and as a country should take to allow us to come out of the recession”

Read Also: How oil output decline, troubled deepwater operations drove Nigeria into recession

With this recession, it will continue to have a ripple effect on the marketing communication industry which is battling to stay afloat from the effect of Covid-19, a pandemic which affected global economy, John Ehiguese, the managing director of Mediacraft said.

When companies don’t perform too well, due to poor macro-economic situation, the marketing communication industry suffers, Ehiguese said, pointing out that “When companies’ revenue goes down, unfortunately one of the areas they quickly visit is the budget for marketing communication” and this is why there is apprehension that the industry might not breathe soonest.

Ehiguese, who was past president of Public Relations Consultants Association of Nigeria, PRCAN, said though things have really been tough for a while especially since Covid-19 but he believed that the operators will find a way to weather the storm. “The industry will respond to the realities in the economy. “If your revenues are dropping, for instance, it will affect employment and perhaps many will downscale.”

He advised government to come out with a strong plan to deal with the situation and find ways of ameliorating the hardship Nigerians are facing at least in the short term.

Nwosu suggested that what Nigeria should do at this time is to spark and catalyse the different parts of the economy to begin to move very quickly and come out of the recession exacerbated by Covid-19 and poor demand for oil.

According to him, the marketing communication industry should expand its contribution to GDP and this can only come when more projects and contracts are executed by the industry. He implored government to engage more with Nigeria’s marketing communication industry for effective communication of government activities.

Globally, marketers whose responsibility is the promotion and positioning of products of companies they represent are facing daunting challenges amid weak economies exacerbated by Covid-19 pandemic. This has led to reshuffling of markets as consumers’ spending habits are fundamentally altered.

In Nigeria with the present recession, the challenges facing marketers are not different as they also face the upheaval task of engaging consumers to promote spending on brand’s products and developing effective business strategy in the midst of government Covid-19 interventions and recent protests. Surviving this challenging period which is hitting governments, businesses and households therefore should be more critical to marketers, Lolu Akinwunmi, Group CEO of Prima Garnet Africa told marketers recently at the National Institute of Marketers of Nigeria, NIMN 2020 fellowship award forum held online.

Akinwunmi who said the recession “made worse by an economy that had performed poorly in the last 24 months, and then weakened by Covid-19 in the last three quarters of 2020” stated that in every recession, marketers find themselves in poorly charted waters.

Guiding marketers on survival strategies in period like this, Akinwunmi, past chairman of Advertising Practitioners Council of Nigeria, APCON cited examples of marketing successes of companies that navigated recessions through some marketing strategies.

Since marketing principles are generally applicable across markets, Akinwunmi who has marketed successful brands, said market leaders like WalMart and Amazon have been able to survive and maintain their dominance through focus on implementing a single strategy more effectively than their competitors, and exceed customers’ expectations.

He listed four key successful factors that successful brands have employed to survive stressing that the key issues concern the speed at which organizations facing turbulent time must be able to respond and act.

The success factors, he said are strategic pricing; superior quality products; strong human capital policy and relevant customer relations strategy.

In his view on Nigeria sliding into recession, John Ajayi, a marketing communication operator and publisher, Marketing Edge Magazine said it is actually a challenging moment for all industries including marketing communication and brand support services sector.

He said if the brands in the economy are performing well, certainly, marketing communication will also survive as there will be enough job for the industry. “But a situation where the fortunes of brands are hanging in the balance, because of the situation of the economy, the brands will struggle to make sales as purchasing power will plummet. This will result to inventory of goods which will not encourage productivity. This will also result to cutting cost by brands to survive”

Ajayi agreed that survival will depend on innovation and creativity in business. He encouraged firms in marketing communication operators to support brands in terms of thinking on how to get the consumers to buy. He said the survival of marketing communication firms hangs in the balance and it is only those who are innovative that will survive the storm.

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We see huge potential in the Nigerian market – Ariston Thermo Group director https://businessday.ng/brands-advertising/article/we-see-huge-potential-in-the-nigerian-market-ariston-thermo-group-director/ https://businessday.ng/brands-advertising/article/we-see-huge-potential-in-the-nigerian-market-ariston-thermo-group-director/#respond Tue, 24 Nov 2020 10:01:03 +0000 https://businessday.ng/?p=498444 Ariston, the foremost and an international brand in the Ariston Thermo Group, is the global expert in the heating and water heating sector. The firm which has become a strong force to reckon with since its foray into the Nigerian market continues to make a strong statement through the quality of its products. In this […]]]>

Ariston, the foremost and an international brand in the Ariston Thermo Group, is the global expert in the heating and water heating sector. The firm which has become a strong force to reckon with since its foray into the Nigerian market continues to make a strong statement through the quality of its products. In this interview with Businessday, Director, Central Africa, Ariston Thermo Group, Gaurav Bisaria speaks on the significance of the Ariston Comfort Challenge, the drive by the company to tap into Nigeria’s enormous potentials and how the business is approaching prevailing economic challenges among other issues. Excerpts.

You recently introduced Ariston Comfort Challenge in Nigeria, what is the challenge all about?

Iam sure a lot of people would equally be wondering what it is all about and what we intend to achieve. Essentially, Ariston Comfort Challenge is a mission, actually the biggest mission that the Company has ever undertaken. Since 2018 Ariston has supported science and research in Disko Island, in Greenland, thanks to the Ariston Comfort Challenge: a mission to bring sustainable comfort to everyone even where it seems hard or impossible to find.

Ariston has donated a warm shelter to the University of Copenhagen’s researchers to study what happens to the Arctic ecosystem during wintertime, the consequences of climate change on the ice sheet and glacier, on the wildlife and on people that live in the area. Looking for a way to improve both ourselves and the community, taking care of our environment and developing knowledge and common consciousness of our footprint. The project was also a confirmation of the quality of our products through what can be described as a Product Torture test. The Challenge offered us the opportunity or privilege to showcase to the world the quality of the products that we offer.

As a company, we place a high premium on sustainability and would ensure that whatever we do beginning from product design, the environment we operate and all other things, sustainability remains at the core of it all. For us, we remain committed to our vision of delivering sustainable comfort everywhere in the world, even where it seems impossible. If you look at what is happening around the world, climate change has been a topical issue that organizations, countries are now looking at to determine what the future of the environment would look like.

Read also: Nigerians turn to crypto market as second recession in 5 years takes toll

Given what our business represents, we felt it would be significant to take a bold step by supporting research that would help improve the cause of knowledge in science as far as climate change was concerned. Besides, the Challenge also offers the opportunity to see what is possible for some of the products if put into use in extreme weather conditions.

With the Challenge, the company has been able to prove that regardless of the climatic conditions, our products stand miles ahead of others owing to the quality.

Why do you think the Comfort Challenge is relevant to the Nigerian Market?

For a country like Nigeria with a huge market, it is imperative to showcase the Challenge so that Nigerians can begin to see what is possible with Ariston Water Heater products. Ariston Comfort Challenge is not only a global campaign, it is a mission which represents Ariston’s values. So, it would not be out of place if Nigerians get to see some possibilities about the products especially when you are found in extreme conditions. This alone reinforces the product quality and superiority. With such a Challenge, our focus is to drive brand awareness and affinity.

You have started to deepen your market share in Nigeria, Africa’s populous market, what informed this recent move? What are your market penetration strategies?

For me, I think setting up a branch in Nigeria was a strategic move that is aimed at bringing focus on SSA’S largest market because we see a huge potential in the Nigerian market. In Nigeria, factors such as high population, growing Middle Class and extremely low penetration remain key drivers for growth for this category. People are starting to realize the importance of a good quality water heater at home.

With regards to penetration, I think, as the market leader, we are driving adoption and category awareness led by “Importance of Hot Water” and we are delighted that it is yielding fruit.

We provide a safety valve which when properly installed protects the Water Heater and consumer against high pressure. The product also comes with Safety & Cut Out thermostat to cut off heating when it reaches the desired temperature.

We understand that there are different sizes of Ariston Water Heater products in the market, how pocket friendly or affordable are they?

I can categorically say that Ariston is highly competitive among the product offerings in the market. I think the major challenge for us is that consumers in Nigeria do not know that they can afford the Italian Quality Ariston Water Heater for a family starting as low as N16, 000 for Instant WH and approximately N25, 000 for a storage WH. It depends on product size and customer requirement. However, it is good to know that things that are beginning to change.

Statistics show that your annual global sales value is 1.7 billion Euros, how much of these sales are from Africa, Nigeria?

I think, going by the penetration of Ariston products in Africa, there has been a quantum sales figure but I would not want to go into that. But by and large, sales in Nigeria and other markets are growing.

Satisfactorily, we are doing quite well and we aim to keep on growing thanks to all the investment in innovation and sustainability, which guarantee to offer our customer a wider and wider range of products, with very high quality and durability. We are hopeful that Africa would strengthen its position as a major market for Ariston products in the nearest future.

Ariston is into water heater production and sales, how does your product compete with others in the market and what would you say is the importance of hot water for bathing?

As far as the Water Heater industry is concerned, we are the most preferred brand in Nigeria. This is because our products are noted for their superior quality and are made in World Class Manufacturing (WCM) facilities. Beyond that, we have way ahead of the competition as we constantly involved in innovation which comes as a result of research and insight from our customers. This research has contributed a great deal in upgrading in product features, efficiency and range. We are transparent in the service we offer to customers. Take for instance, if we say water heater is 15Litre it has 15Litre capacity, unlike some other brands.

Also, what stands the brand out from other competition is the fact that the Power options for the most popular storage capacities in our product portfolios are carefully selected to 1.2 & 1.5 kw unlike some other brands offer higher power.

The importance of the hot water bath is legion. Hot Water bathing induces feelings of comfort and easiness. It is an action that allows our mind, and subsequently, our body, to relax. Besides, it enables us to sleep better. Besides, hot water bath helps to relieve body pain and make them heart-healthy, and a temperate bath with hot water can also help our immune system to better fight off germs.

You have 26 production sites in 15 countries, what factors will make you think of having a factory in Nigeria?

I think having a factory located in a country like Nigeria is subject to some factors. Right now, certain factors are critical which I discover could hinder the chance of setting up a factory in Nigeria. As we speak, one major hindrance to setting up is the size of the market. Currently, the demand for water heater has not reached a level that would require establishing a factory. Although the market is growing in leaps and bounds, it is hoped that it would grow to become a major part of the economy.

What do you see as the peculiarities of the Nigerian market when compared with other markets in Europe and Asia?

The Nigerian market is a very challenging one compared to any European or even Asian market. But I think the biggest challenge comes on account of the not-sogood experience faced at the Port as well as the ever-increasing logistics cost that put so much pressure on the companies. As a result, businesses including ours are left with no choice but to pass on these costs to the end consumers. From experience, sometimes the cost involved in getting the container from Italy to Nigeria is lower than transporting it from Apapa to Ikeja within Lagos.

Another big issue is the lack of awareness on the part of the consumers to know which one is of great quality or substandard. This challenge has led to the increasing influence of middlemen who now make a quick buck from hapless and poor consumers. Another major issue we have to contend over time is poor installation undertaken by unskilled installers which sometimes give the first impression about our products. But we are delighted that things are already changing thanks to the big effort we have undertaken in training professional installers.

We are doing quite well and we aim to keep on growing thanks to all the investment in innovation and sustainability, which guarantee to offer our customer a wider and wider range of products, with very high quality and ‘ durability

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Startimes turns homes to hub of Christmas funfair, unveils Xmas promo https://businessday.ng/brands-advertising/article/startimes-turns-homes-to-hub-of-christmas-funfair-unveils-xmas-promo/ https://businessday.ng/brands-advertising/article/startimes-turns-homes-to-hub-of-christmas-funfair-unveils-xmas-promo/#respond Tue, 17 Nov 2020 11:11:32 +0000 https://businessday.ng/?p=494592 As Christmas approaches and the pandemic disrupts annual funfairs, StarTimes is giving families more reason to spend time together with its Christmas upgrade promo even as it is giving every TV subscriber access to view one subscription on four devices. The Christmas promo which kicks off on November 15 to mid-january next year offers subscribers […]]]>

As Christmas approaches and the pandemic disrupts annual funfairs, StarTimes is giving families more reason to spend time together with its Christmas upgrade promo even as it is giving every TV subscriber access to view one subscription on four devices.

The Christmas promo which kicks off on November 15 to mid-january next year offers subscribers an opportunity to enjoy more exciting channels. Nova and Basic/ Smart bouquet Subscribers who recharge for two months will enjoy 2 months of the higher bouquet while Super/ Classic package subscribers will get 10 extra days for free when they recharge for two months. Aside that, StarTimes has partnered electronics firms, Lontor Bulbs and Oraimo to appreciate 2020 loyal subscribers during the festive period.

Read also: Startimes wins innovative digital terrestrial TV Brand of the Year award

Also, Startimes has launched a one- for- four plan. Active subscribers can stream their choice content on four devices simultaneously at no extra cost by linking their decoder to StarTimes ON streaming app on up to three mobile devices. That means four access (TV and three phones) for family members to watch whatever they like anytime, anywhere, any day.

Speaking on this initiative, Ali Auta, National Marketing Manager, Startimes Nigeria said that as Christmas approaches, people are acknowledging the fact they are living in a ‘new normal’ and that things will never go back to how they were before. And this is not a piece of bad news as the digital transformation of our lives accelerated. From work to leisure, from shopping to healthcare, digital innovation has been boosted.

“Startimes has been on the frontline of this transformation.

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It is survival first in turbulent period than race for market leadership- says Lolu https://businessday.ng/brands-advertising/article/it-is-survival-first-in-turbulent-period-than-race-for-market-leadership-says-lolu/ https://businessday.ng/brands-advertising/article/it-is-survival-first-in-turbulent-period-than-race-for-market-leadership-says-lolu/#respond Tue, 17 Nov 2020 11:08:05 +0000 https://businessday.ng/?p=494623 Lolu AkinwunmiGlobally, marketers whose responsibility is the promotion and positioning of products of companies they represent are facing daunting challenges amid weak economies exacerbated by Covid-19 pandemic. This has led to reshuffling of markets as consumers’ spending habits are fundamentally altered. In Nigeria with poor economy at 2.7% growth rate, the challenges facing marketers are not […]]]> Lolu Akinwunmi

Globally, marketers whose responsibility is the promotion and positioning of products of companies they represent are facing daunting challenges amid weak economies exacerbated by Covid-19 pandemic. This has led to reshuffling of markets as consumers’ spending habits are fundamentally altered.

In Nigeria with poor economy at 2.7% growth rate, the challenges facing marketers are not different as they also face the upheaval task of engaging consumers to promote spending on brand’s products and developing effective business strategy in the midst of government Covid-19 interventions and recent protests.

Surviving this challenging period which is hitting governments, businesses and households therefore should be more critical to marketers than the concern and possible concentration on market leadership, Lolu Akinwunmi, Group CEO of Prima Garnet Africa told marketers recently at the National Institute of Marketers of Nigeria, NIMN 2020 fellowship award forum held online.

Akinwunmi who recounted that Nigeria is in a recession “made worse by an economy that had performed poorly in the last 24 months, and then weakened by Covid-19 in the last three quarters of 2020” said in every recession, marketers find themselves in poorly charted waters.

Read also: Oil majors are shutting refineries due to low demand, how will Nigeria fare?

Guiding marketers on survival strategies in period like this, Akinwunmi, past chairman of Advertising Practitioners Council of Nigeria, APCON cited examples of marketing successes of companies that navigated recessions through some marketing strategies.

Since marketing principles are generally applicable across markets, Akinwunmi who has marketed successful brands, said market leaders like Wal-mart and Amazon have been able to survive and maintain their dominance through focus on implementing a single strategy more effectively than their competitors, and exceed customers’ expectations.

He listed four key successful factors that successful brands have employed to survive stressing that the key issues concern the speed at which organizations facing turbulent time must be able to respond and act.

The success factors, he said are strategic pricing; superior quality products; strong human capital policy and relevant customer relations strategy.

On strategic pricing, Akinwunmi said companies that succeed through this, offer quality products with guaranteed low prices, convenient services, or both. “They target those customers who are concerned with finding the lowest prices”.

Companies which employ strategic pricing approach have some things in common which include minimising costs by managing and optimizing their supply chains and fundamental services, their operations are mechanistic, involving standardized, centrally planned, and tightly controlled operations and they develop an organizational culture that rewards efficiency and detests waste.

To succeed with superior products, companies challenge themselves to develop highly desirable goods or services that are sometimes untested in the marketplace; this talks of product innovation, the speaker said. “While the customer profile is changing, there remains a constant: the customer doesn’t want to pay much, but he/she is still interested in quality products. The marketer is therefore challenged to keep pushing this and innovating”

The third key factor for success, he said revolves around the company’s human capital. To properly create a culture of innovation, organizations must hire and retain appropriate employees that will foster creativity. The forth is relevant customer relations. Customer is the king.’

He also warned that the marketer must continue to research the customer; review current relationships with some strategic partners and thirdly, be careful about cutting the marketing spend; support trade partners, stress core values and adjust pricing tactics.

Speaking at the virtual event, the President of NIMN, Tony Agenmonmen said the lecture and the fellowship award were organised online to avoid any chance of Covid-19 contamination. He congratulated the awardees.

Agenmonmen said within the very challenging environment, the institute has continued and will continue to drive its plans and programmes as best as possible. He recollected that the institute organised its elections online in a transparent manner and equally held its annual meeting recently virtually.” We have also continued to run our training programmes online”.

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