Experts charge brands to meet consumer needs for enduring patronage

Group Executive Director at Omnicom Media Group, WeCA, Yinka Adebayo, has charged brands and brand managers to continue to re-invent themselves towards meeting the desired expectations of the consumers, if they must continue to enjoy enduring patronages from them.

Adebayo made the statement in a keynote presentation at the second MediaConsortium Conference and Awards held in Lagos. Adebayo spoke on the theme, ‘Meeting the Brands/Consumers Expectation in a Challenging Economy.’

According to him, “at a time when disposable income is shrinking, consumers expect brands to offer more than just products; they seek value, authenticity, and trust. Brands that understand the pulse of their consumers and deliver accordingly will be the ones to thrive.” he said.

Citing the telecom industry as an example, he said: “iPhone will continue to be a phone of value to consumers because of the need it is meeting. Hence, you wonder why no matter how expensive the phone brand may be, the makers still make series of the models, which may appear insane that despite buying an iPhone 13 one may still want to buy an iPhone 14 or 15.”

Differentiating between the marketing and selling concept, Adebayo described marketing as an action taken to bring attention to a business’ offerings; they can be physical goods for sale or services offered adding that, not all businesses need to market their goods and services the same way.

For the selling concept, he noted that this assumes consumers are looking for aggressive sales and promotions from consumers. He pointed that many times, marketing tactics driven by the selling concept are based off the company’s need to sell rather than consumers’ need to purchase. Some of the tactics used include clearance sales.

“It may not be a needed purchase, but a consumer can be persuaded with strong marketing or advertising techniques,” he said.

“There is the need to constantly do research- so that you can produce brands that meet the desire of the people… You will have to constantly innovate in such a way that it will meet customers’ expectation.

“Often times, they say customer is king and he is king for a reason.”

When people say customer is always right, it is not often time they are right- there are cases where the customer is wrong but, how dare you challenge them?Because they hold the money which you are looking for- you value them in such a way that it makes sense,” he said.

At the panel session, industry experts harped on need for a middle ground between brands and consumers for a symbiotic relation to continue to exist especially in this challenging time.

The discussion moderated by the Chief Executive of Absolute PR, Akonte Ekini featured Adedotun Ajibade, Media and Insight Manager, Rite Food Ltd, Chineze Amanfo, PR Lead, 9mobile and Dr. Dare Ogunyombo, Lecturer at the Mass Communication Dept., Olabisi Onabanjo University, Ago-Iwoye, Ogun State.

Ajibade said seven out of every 10 buyers are no longer loyal to their initial brands when it comes to pricing. He noted that today’s consumers are more conscious of their buying decision, hence, they don’t have allegiance to any particular brand except the ones they can afford.

“Are brands really meeting consumers’ need in terms of pricing? That is why we have gone to the sachet economy to ensure they continue to grab the attention of the consumers.”

Corroborating Adedotun’s position, Chineze said producing smaller packs is among the ways brands are adapting to the realities on ground. “Brands are now producing smaller packs to meet up consumer reducing purchasing power so that they are more affordable. She also focus on the role public relations play in maintaining brand loyalty, by stressing on the importance of clear and consistent communication especially in a crisis.

“In this economy, PR is not just about telling stories; its about managing expectations. Consumers need to know that the brands they trust are aware of the challenges they face and are actively working to ease their burdens,” she explained.

For Dr. Dare Ogunyombo, the point is to establish the nexus between the brands and consumers expectations. According to him, brands want to sell their product at a profit for sustainability, while consumers want to buy products at the best price for the best value. He said: “Brands that ignore local realities are likely to miss the mark. Nigerian consumers are highly adaptive and but also highly critical”.

MediaConsortium Conference and Awards is ayearly marketing event that brings together stakeholders from the Integrated Marketing Communications sector with the aim of discussing burning issues that affect the industry.

Speaking earlier in his welcome address, Co-Publisher, MediaConsortium said the conference provides us with a unique opportunity to explore the strategies, innovations and collaborations necessary to navigate the economic challenges.

This year’s event, which was the second edition, also honoured brands and practitioners who have been exceptional in their practice and service delivery. They include, Daniel Obi, Brand Journalist of the Year 2024; Fearless Energy Drink, Energy Drink Brand of the Year 2024; Nestle Nigeria, Transformational Impact Award, Checkers Custard, Custard Brand and Oracle Experience Ltd which emerged Experiential Marketing Agency of the Year 2024.

Others were Without-A-Box, Future Leader in Perception Management, Indomie Noodles emerged as Consumer-Friendly Brand, Golden Penny won the Pasta Brand and Victor Gbenga Afolabi was named the Outstanding Contribution to SME Growth Through Technology.