Why we are organising national marketing summit – Ajayi
In this interview CEO of Marketing Edge magazine, John Ajayi offers critical assessment and review of the integrated marketing communications sector in the last few months in the face of the current economic recession and the imperatives for a stakeholders national marketing summit to offer fresh insight on how marketing services providers can mitigate the current hardship while exploring newer opportunities in the emerging market
What is your assessment of the integrated marketing communications industry vis-à-vis the current economy situation in the country?
As we are graduating into the end of the second quarter of the year, the industry is just picking up in terms of marketing activities. Some advertisers are about to start their financial year. I am aware that some outdoor companies are getting renewals. We will begin to see new campaigns in the coming days and months. I am pretty sure that there would be a beehive of activities soon.
What informed the idea behind the forthcoming Marketing Edge national marketing summit?
The national marketing summit being organized by Marketing Edge is geared towards initiating and activating conversation on contemporary industry issues. It is a summit where you see the meeting of minds cutting across integrated marketing communications industry. We want to use the opportunity to initiate discussion that can further promote and develop the industry. This year’s theme is even more apt because of the socio-economic trajectory of Nigeria as a nation. We felt that the last one and half years for the Nigerian nation has been very critical and challenging. While government has come in with the idea of restructuring the economy because there is a disruption in the international price of crude oil especially for an economy that has been hitherto monolithic i.e oil dependent.
Of course, there was a shock in almost all sectors when the oil price plummeted at the global market. This shock however affected all other sectors of the economy causing a lot of reverberations. Even some agencies that were on retainership were sacked as brand owners started cutting down on budgets as a panicky measure. So, the industry has come to a crossroad to the point that it does not know where it is headed. That is why we have to assemble very knowledgeable industry intellectuals to come and give new and fresh perspectives on how to mitigate the prevailing challenges. That is why we have chosen the topic; Brand Marketing and Marketing Management in A Recovering and Restructured Nigeria Economy; Challenges and Implications for marketing services providers. Of course, to do justice to this all important discourse is a guru of very reputable pedigree, Ekwunife Okoli, former marketing director of Guinness Nigeria, and also former Managing Director Guinness Cameroon and currently, Founder /CEO, Advertange Consult who will be the Guest Speaker while the keynote speaker is the Minister of communication, Barrister Adebayo Shittu. We have some discussants that will do justice to the topics and these include the former marketing director of Nestle, Iquo Ikoh, The marketing director of Coca Cola, .Patricia Jemibewon, Managing director of Media Fuse, Denstu Aegis, Emeka Okeke, Group Head, Marketing and corporate communications, First Bank, Mrs.Folake Ani-Mumuney and Managing director, DDB Lagos, Ikechi Odigbo. These people will be providing insights to the lead speaker’s discussion. The occasion will be chaired by no less a marketing guru himself.George Thorpe.
How best can brand owners leverage this unique opportunity which you are providing to improve their businesses?
Brand owners, marketing, advertising and marketing communication industry operators are in a critical cross road. It is a critical historical conjuncture for marketing and advertising players because the sudden fall in the crude oil price brought about unforeseen crash in the nation’s treasury and the resultant recession we are witnessing. As we speak, people are now thinking of tapping opportunities in the area of agro-business. Can’t brand owners begin to look at how they can promote indigenous brands?