Nigerian business environment highly competitive – Kelloggs
By Felicia Nwosu
Marketing enthusiast, Adenike Owolabi, brand representative from Kelloggs Tolaram Nigeria Limited, has observed that the high level of competition in the Nigerian business environment is a testament to its, potentials and viability. The Kellogg brand representative stated this while giving her assessment of the Nigerian business environment, during an exclusive interview with MARKETING EDGE.
The client service executive mentioned that the Fast-moving Consumer Goods (FCMG) sector is evolving at a rapid speed through continuous innovation and technological applications. These, she noted, have accelerated the need for new product lines and customization by FCMGs, translating to revenue growth and increased returns on investment.
“The FCMG sector in Nigeria is really an innovative one. over time, we can see the amount of innovation that is coming on. There are lots of products springing out also but, we can’t underestimate the role that brands are playing and what marketing has been doing for FCMG in Nigeria and I must say kudos to all the brands out there.
Noting some of the major attractions for investors in the sector, the brand strategist pointed out that the sector is an excellent investors destination, she added that, FCMG possess the endowments that can boost and foster foreign investors’ confidence if properly leveraged upon.
“We have to look at the potential of the market, which is a huge one. It has the ability to grow even more. This is a thing that investors will definitely look at before coming into the market and that potential is enough to make any investor want to come into the business here.”
Adenike also revealed how Kellogg, the iconic cereal brand, Kellogg’s Cornflakes is addressing the decline in the purchasing power of most Nigerians by providing distinct product features with well packaged value as well as adding products that satisfy customer need at affordable prices.
“For us, our focus for our brand is about the nutrition of every Nigerian child, Kellogg’s mantra is: ‘To ensure that we have a well-nourished generation’. With nutrition in mind, we make sure that our product is affordable to everyone. We achieve this by putting our product in economical packs that makes it easy for anyone to be able to buy it. While the purchasing power might be unstable, we make provisions for our consumers.”
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