Insight on Nigeria at World Marketing Forum

Kunle Ogedengbe-

Global marketing is a very critical area not only for corporate bodies but also for nations of the world. This becomes important, as what is known about you is what is believed to be the truth about you. Surprisingly, this may be wrong.

The objective of the chief executive of Global Marketing Network (GMN), Darrell Kofkin, is to bring the discipline of marketing to the global sphere and present a platform where marketing will not only be discussed at global perspectives but also highlight the local ambience within the global marketing stand.

Not surprisingly, GMN organised the first leg of the GMN World Marketing Tour at the University of Hertfordshire Business School, United Kingdom last November 27. The forum provided avenue for individual, institutional and nation’s promotions. Speakers were diverse. Topics covered include international marketing entry strategy, insights into countries, emerging global marketing issues like how to leverage social media for your global business, and the new roles of marketing in business amongst others.

In his lead presentation, one of the world’s leading thought-leaders on global marketing strategy, Prof. Svend Hollensen of University of Southern Denmark , underlined three approaches to global marketing. These he said are the practice and application of global marketing approaches through entering the market as an individual player, or entering through a partnership of marriage with a local player or entering the market with a working alliance with an existing local player.

The particular approach to adopt in a particular market, he noted, depends on the factors that surround the particular market and the global marketing objectives of the players.

Apart from trade in the United Kingdom, other countries had insights on them put forward. The countries are Nigeria , India and Malaysia .

In his presentation entitled Insight Nigeria, Peter Walker, Chairman, Nigerian-British Chamber of Commerce, UK Network, gave an inspiring details of business path in Nigeria and the expected positive outcomes using strong international and global brands that are successful in Nigeria as case studies. The brands include Citibank, Nestle, MTN, GLO, Zain, Cadbury, Coca Cola, Guinness, Pepsi, Unilever, Standard Chartered Bank, Shell, Mobil, and Chevron amongst others.

Walker started by quoting the former Ghanaian president, John Kufuor “people outside Africa are not well informed about a lot of things that happen on the continent”. With this, the full-capacity hall listened to its brim. While underlining the fact that Africa is not just one country but made up of 53 countries with economic zones like the Economic Community of West African States, Southern Africa Development Community amongst others, Walker, noted that Nigeria, an African country, has the continent’s largest democracy with a population of over 140 million people, a multi-party state with 36 states and a federal capital territory (Abuja), largest market in the continent and would be among the world’s largest economies by 2020 according to Goldman Sachs’ research.

The chairman of the NBCC UK Network continued that the country has an independent judiciary with limited or no foreign debt, GDP growth of 3.5 per cent according to International Monetary Fund (IMF 2009) at a time when most countries of the world are in recession, with a projected growth of seven per cent for non-oil sector and that the country is very business friendly. Walker, who is also the Executive Chairman of PIELLE Consulting Group, UK, added that the country has a very strong central bank and very robust financial services sector with an automated stock exchange. Return on investment is 35 per cent by average in the country, he added.

The Briton observed in his presentation that the country has the continent’s largest telecommunication subscriber base which is a pointer to the high level of global practice the country has, apart from the fact that the major airlines of the world have bases in Nigeria.

Natural resources of Nigeria, he observed include oil, diamond, coal, metal, groundnut, palm produce, and cocoa apart from 34 new unexploited resources waiting to be exploited. On tourism, Walker highlighted different areas of interest in the country to include Tinapa, Olumo Rock, Erin Ijesha Waterfalls, and different beaches.

Others areas of investment according to the presenter include the seven point agenda focus of the president, Umar Musa Yar’Adua. These areas are power and energy, food security and agriculture, wealth creation and employment, mass transportation, land reform, security, and qualitative and functional education.

Possible obstacles in the country in the areas of Niger Delta insurgency, he said has been resolved with the militants who have taken the path of peace, tendered in their arms and have accepted the president’s overall amnesty. This is asserted to by the return to businesses in the Niger Delta areas by multinational companies who fled the areas in the wake of the crisis. On corruption, Walker told the stunned audience that Nigeria is no longer being singled out on the list of most corrupt countries of the world from the Transparency International but is one of those countries whose improvement is highlighted. This improvement, he noted, was achieved by Nigeria at a time when countries like Bulgaria and the United Kingdom had significant decline in their rating over corruption.

To survive in Nigeria, he underlined the need for marketing survival strategy, which includes market segmentation, good penetration strategy, quality product or service, and the usage of integrated marketing communications tools. He identified other brands that are very successful in Nigeria to include Total, KPMG, Ernst and Young, PZ, Delloite, Dangote and Shoprite.

Issues to also address, he noted, include Nigeria’s 250 cultures and 874 languages, low marketing energy because Nigeria is an exciting nation, wrong partnership with hype without substance, and not appreciating the people’s culture.  

For survival, the NBCC UK Network chief underlined application of marketing concept of producing what is needed, price, good brand management, good service delivery, after sales services, mass delivery logistics as Nigeria is not just with 36 states and a federal capital territory but a big nation of 923,850 sq km with constitutional 774 local governments, and government lobbying since government is a big player in all developing economies like Nigeria.  

Additionally, Walker identifies respect for class, promotion of substance, sponsorships, corporate social responsibility, public relations, advertising, research, third part endorsement and events like town storm as tools for marketing and marketing communications successes in Nigeria .  

While noting that the brand envisaged by management, advocated by marketing must be the brand delivered by the organisation as the organisation must be the same with its marketing, he hinted that equally important in the Nigerian market are what he called critical issues like quality standard, integrity, professionalism, innovation, sincerity, ethics and honesty.  

As he observed that year 2010 is not just the year of Africa’s FIFA World Cup, it is also the 50th Independence Anniversary of Nigeria, the country that should be seen as the entry point to Africa with the largest market and the number one economy in the continent come 2020 according to Goldman Sachs, which is also the determinant of the successes of the economies of other African countries.

Nigeria, he said, is ready to play. “Are you?” He queried. While assuring all that the NBCC UK Network and PIELLE Consulting Group are ready to help in entering the Nigerian market, he underlined that “in football, good players go where the ball is going to be… not where it is right now… be a great player  be in Nigeria.”

During a question and answer session, it came to the fore how entrepreneurs will not be duped in Nigeria. Walker urged them to go through the right channel as this writer also advised people to go through the due process of passing through a recognised platform like the NBCC, PIELLE Consulting Group or the United Kingdom Trade and Investment Department in the British High Commission in Nigeria, while underlining the fact that Nigerians are no rogues as the success stories of the international and global brands noted above amongst others testify.