According to FDC, Nigeria is currently experiencing mild recession and most of the economic indicators are red; only
consumption, household expenditure and the stock market are yellow. This shows manufacturers’ major concerns.
Competition is becoming stiffer as consumption and disposable income continues to decline while cost of production is
unpredictable due to non-fixed exchange rate by the CBN.
As this uncertainty continues, market forces and dynamics are not constant, but consumers expect their brands to remain
stable and consistent. Brand credibility and consistency seem the only trump card available for managers and
manufacturers at the moment. With major brands already owning spaces in the minds of the consumers through their
personality statements, positioning, imagery, communication among others; being consistent and ‘hanging in there’ by
digging deep to explore the brand values and potential is where managers are facing the most herculean task.
It is a fact that consumers do not want their brands to change no matter what, especially the core brand promises. They
want their brands to give them
the ‘have got you’ and ‘won’t fail you’ feelings despite everything. Brand consistency
needs to be the core of brand activities right now with delivery on brand recognition cues and guaranty of quality.
This edition comes with another opportunity to give you insights into the world of brands and their activities including
launches and extensions across sectors and markets, it has different articles, opinions, events, opinions that will make the
time invested in worth the while. It is true that what defines a brand are its assets, strength and values. Its performance
on these three parameters reveal its equity; to help brand managers, we included an article on how to sustain brand
value in recession while the cherry of this edition is the corner for entrepreneurs, where we revealed the potentials of oil
palm in Nigeria and how to maximise it.
We promise that this is a read that will keep you longing for more.
Have a great time with BrandSpur Ng.
고맙습니다 – Thank You!