As part of efforts aimed at helping businesses understand evolving dynamics of consumer behaviour and improve the nation’s marketing practice, the National Institute of Marketing of Nigeria, (NIMN) in partnership with the Lagos Business School, (LBS) recently unveiled a consumer insight report titled, ‘Community, culture, and connection: Re-imagining the new market.’

NIMN President and Chairman of Council, Bolajoko Bayo-Ajayi, disclosed that the report would serve as a practical guide for marketers in making informed business decisions and deepen understanding of consumer expectations in an increasingly dynamic business environment.

To her, “the marketing landscape has changed and continues to evolve. As an institute, we have a responsibility to provide thought leadership because what you do not understand, you cannot lead. This report is intended to help marketing practitioners understand consumers better and apply those insights in their day-to-day practice.

“The report would stimulate discussions within the marketing profession and provide organisations with evidence-based insights to improve customer engagement and business performance. This report serves as a framework that is documented that marketing practitioners can actually leverage in there day to day activities,”she stated.

On his part, Deputy Vice-Chancellor (Academic), Pan-Atlantic University, Prof. Uchenna Uzo, noted, “customer loyalty is increasingly driven by experience, consistency, trust and community influence rather than price alone.”

To the don, “the customer has moved on. Consumers are looking beyond price and asking questions about value. Businesses must understand what value means to their customers if they want to sustain loyalty. The businesses that consistently deliver quality across different locations and over time stand a better chance of retaining customer loyalty.”

In her welcome remarks, NIMN Registrar, Thelma Okoh, applauded the flawless production of the report. “The depth of analysis, the clarity of presentation, and the sheer relevance of the data are world-class. It is a tool that will undoubtedly serve as a guiding light for policymakers, entrepreneurs, and corporate leaders alike,” Okoh said.