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How marketing aids business success, by experts

Posted by By YINKA FABOWALE, SEGUN AJAYI and RAZAQ BAMIDELE on 2006/05/17 | Views: 635 |

How marketing aids business success, by experts


An array of VIPs from various sectors of the economy witnessed the launch of Nigeria’s Marketing Memoirs in Lagos Tuesday at which foremost experts gave dynamic marketing strategies as the recipe for business success.

An array of VIPs from various sectors of the economy witnessed the launch of Nigeria’s Marketing Memoirs in Lagos Tuesday at which foremost experts gave dynamic marketing strategies as the recipe for business success.

The book reviewer and Executive Chairman, Neimeth Pharmaceuticals, Mazi Sam Ohuabunwa, and the General Manager, Consumer Marketing, MTN Nigeria Limited, Mr Olu Akanmu, who gave the keynote address on the occasion, both remarked that players in the Nigerian economy were practically doing about the same thing in terms of selling their businesses, a development they observed bordered on complacency with grave implication in a world of competition.

To reach even beyond the cutting edge of profit-making, they suggested that firms must move away from traditional marketing practices and embrace the dynamic philosophy of "be different or die."

The official book presentation also drew handsome donations and outright purchases from well-wishers of the authors, The Sun’s Mike Awoyinfa (MD/Editor-in-Chief) and Dimgba Igwe (Deputy MD/Deputy Editor-in-Chief) with the single largest donation of 20,000 US Dollars by the Managing Director/Chief Executive Officer of National Insurance Corporation of Nigeria (NICON), Mr Jimoh Ibrahim, who was chief presenter.

Ibrahim described the authors as brilliant and well-celebrated people. According to him, the 938-page book which contained 50 case studies has a lot to offer since marketing case studies have been known to help grow businesses.

He cited the instances of how New York Times and an automobile company in the United States turned their ailing fortunes around to become mega successful businesses.
Akanmu, who spoke on "Challenges of Marketing in Nigeria", observed that democracy has opened up new markets for direct investments including foreign ones, citing developments in the beverages and telecommunication industries as attesting to this.

According to the MTN boss, government’s consolidation policy and technology have also excited and encouraged competition or partnership among players in the private sector, particularly the payment service companies and banks.

He observed that despite the sophistication of consumers and the rise of consumerist movement; many firms still offered the same services or commodities to the same customers in basically the same way.
Akanmu declared that businesses must break from the herd, if they wished to succeed, by delivering unique services and commodities, stressing that marketing has to lead the way in this new practice.
"The new generation (marketing strategists) must leverage on to the knowledge of marketing management and customers, build unique capabilities and engage industry leaders," he said.

He warned that operational excellence did not mean the same thing as good strategy, adding, "businesses will also need to have more dialogue with their customers, because the customer power is on the rise. They must see their interaction with the consumers from being mere transaction to being relationships … We need to decommoditise our industries in order not to destroy our economic value."
Reviewing the book, Ohuabunwa described it as a rich mix of diverse experiences, saying its value inhered in the wealth of indigenous case studies it offered, which puts it above foreign texts that were often irrelevant to the local situation.

He said many Nigerian companies were underdeveloped and often underperformed because they did not apply the necessary marketing strategies in their organisations.
Ohuabunwa praised the duo of Awoyinfa and Igwe for their brilliance and literary skills, which he said made the compendium a most valuable material.

Called to deliver a welcome address, co-author, Awoyinfa, expressed gratitude for the turn-out of friends and dignitaries on the occasion, stressing: "the love and attention shown here today is not only for the authors, but for The Sun and journalism profession."
Drawing a link between The Sun and Nigeria’s Marketing Memoirs, Awoyinfa said, "if The Sun is shining brightly today, the secret lies in the new book."

The former Managing Director of Concord Press of Nigeria Limited, Dr (Mrs) Doyin Abiola, said that she was proud to be associated with Awoyinfa and Igwe. Interestingly, Abiola, who was boss to the two authors in their Concord days described the duo’s successful career as no fluke. According to her "from the days we worked together in Concord Press, I knew that Dimgba and Awoyinfa would be success stories."

The anchormen at the presentation Messrs Gbenga Adeyinka the 1st and Victor Ogene, spiced-up the event with rib-cracking jokes.
The roll call of the dignitaries that graced the occasion chaired by renowned industrialist, Dr Mike Omolayole, included: Chairman, Pension Commission, Chief Fola Adeola, Lagos State Commissioner of Police, Mr Emmanuel Adebayo, Assistant Inspector General of Police (AIG), Zone II, Mr Adebayo Adeoye, Lagos State Police Public Relations Officer, (PPRO), Mr Bode Ojajuni and Mr Abayomi Omiyale of the Federal Road Safety Commission (FRSC).

Others were: Lagos State Commissioner of Environment, Mr Tunji Bello, former Managing Director of Concord Press, Dr Doyin Abiola, former Managing Director/Editor-in-Chief of The Monitor Newspapers Limited, Alhaji Liad Tella and his wife, Kehinde, Chairman, The Guardian Editorial Board, Dr Reuben Abati, popular artiste, Pa Fatai Rolling Dollars, renowned flutist, Tee-Mac and Commissioner for Justice and Attorney General, Osun State, Mr G. M. Adedeji and Chief Press Secretary (CPS) to Imo State Governor, Sir Bright Iwelue.

Also present were: former NTA broadcaster, Mrs Sienne All-Well Browne, former Managing Editor of The Monitor Newspapers, Mr Ayo Akinyemi, who represented Alhaji Azeez Arisekola Alao, Executive Director, Independent Newspapers, Ted Iwere, Chuma Igwe, Mr Chris Obage, Steve Omajafor, Zamfara Secretary to State Government, (SSG), Alhaji Abubakar Useni, Alli Babayo who represented Bauchi Governor, Mrs Bola Thomas, Sulaeman Barau (represented Central Bank of Nigeria Governor, Charles Soludo) and representatives of governors of Kano, Kaduna, Bauchi, among others.

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