Unveiling Nigeria’s top 50 brands

At its yearly event, which held in Ikeja, Lagos, last Thursdays, Top 50 Brands Nigeria unveiled the top 50 brands for the year 2017. These are brands that have been able to weather the economic storms to deliver on their promises to Nigerian consumers.

In accomplishing this year’s result, an initiative called ‘Brand Strength Measurement’ was employed, which specially designed model took basic qualitative elements to determine brand valuation and strength. The model checks consumer’s knowledge of a brand using the ‘Top on the Mind Survey’ and therefore helping brand owners to know how their brand is faring and for resource allocation purposes.

According to the CEO Top 50 Brands Nigeria, Taiwo Oluboyede, “Brand Strength Measurement is a measuring tool that evaluates a brand’s intangible asset from consumer point of view, using basic qualitative variables. It measures the strength level of the brand and in some ways indicates weakness. Each of the top brands is weighed against major factors such as ‘category leadership,’ ‘brand popularity,’ ‘innovation,’ ‘online engagement,’ ‘quality element,’ ‘national spread’ and ‘corporate social responsibility.’

Position rating of these brands will be done in the 2017 annual publication at Brand Nigeria Leadership Forum #IAmBrandNigeria. The forum will not only serve as a presentation of the #IAmBrandNigeria campaign but also celebrate exceptional individuals, who, through resilience, tenacity and their entrepreneurial skill, are making things happen against all odds, and have been able to achieve success and serve as source of inspiration to the teeming youthful population.

In addition to the good initiative and recognition of the top 50 brands in the country, Top 50 Brands Nigeria has also recognised the top 10 exponentially growing brands to watch out for.

According Oluboyede, “Very excitingly, eight of the 10 brands to watch this year are home-grown, while two are international. Out the 10 brands, five are ICT related with particular interest in retail. This is exciting because it shows the online retail sector is gaining ground aggressively in Nigeria, as they do in developed countries.”

Some of the top 50-ranked brands are, but not limited, to Guinness Nigeria, Airtel Nigeria, Conoil Plc, Julius Berger, Coca-cola Nigeria, Unilever Nigeria, DAAR Communications, Shoprite, Dana Group, Globacom, Dufil Prima, Toyota Nigeria, MTN Nigeria, Honeywell Group and many others.