Stakeholders advocate quality-marketing research for campaign success

Stakeholders at the maiden edition of Marketing Research Academy (MRA) lecture have insisted that qualitative marketing research and segmentation by advertisers are indispensable and can facilitate marketing campaign success.

With the theme ‘What is new’, stakeholders further argued that qualitative marketing research, segmentation and other marketing strategies could improve the country’s GDP and subsequently lead to economic growth. Stakeholders also observed that the new consumer has changed tremendously and that strategic marketing campaign is imperative.

Adjunct Professor, Lagos Business School and Partner, Kainos Edge Consulting, Dr. Doyin Salami, noted that marketing could help create a virtuous cycle of value that stimulates economic growth. He identified three concept of marketing, which are Value Creation, Value Connection, Value Delivery and Exchange. For value creation, he insisted that innovation, production and productivity are vital.

While speaking on ‘Role of Marketing Research in Nigeria’s Growth Trajectory,’ Salami observed, “As the Nigerian economy seeks new growth sectors to facilitate its expansion, the role of marketing and marketing research in getting ahead of the curve in order to guide the production process that will generate faster economic growth is crucial and that data is also important in marketing.”

Similarly, former Assistant Professor of Media Management and Economics at the University of Georgia, U.S., Dr. Tayo Oyedeji, stated that the new consumer is now multi-screen, that is, phone, iPad, TV are now the new norm with the new consumer. According to him, it’s like the new consumers’ life is tied to his phone, adding that the new consumer in Nigeria now has global perspective of issues. He said news and information are no longer local to the new consumer.

He spoke on ‘The New Consumer,’ noting that proper segmentation is also crucial, saying it would make advert campaigns to be a huge success. He identified three segmentation models in terms of Consumer, Market and Hybrid. For the Consumer model, he said this could be in terms of demographic or psychographic. For the Market segmentation, he said this could be in terms of Brand Development Index or Consumer Development Index. For the Hybrid segmentation, he said it could in terms of cultural diversity. He insisted that advertisers must take cognizance of the different market segmentations in order to achieve marketing campaign success.

CEO, Kantar Nigeria, Mr. Aggrey Maposa, noted that four evolving consumer mindset are Embracing identity, Independence through connection, Activating life balance, Naturalness and Health

Maposa spoke on ‘Unpacking the New Nigerian Consumer’ and said identity could be in terms of fashion, Afro optimism, nationalism/regionalism. For instance, he said Hero and Trophy beers have regional identity. On Independence through connection, he said this could be in the area of embracing technology, that is, phones, social media, etc. He said the five C’s of Tech-driven change are customization, control, commerce, connection, and communication.