Stakeholders, at the maiden edition of Marketing Research Academy (MRA) lecture, have insisted that qualitative marketing research and segmentation by advertisers are indispensable in facilitating marketing campaign success.
With the theme: “What is new”, the stakeholders further argued that qualitative marketing research, segmentation and other marketing strategies can improve the nation’s GDP and subsequently lead to economic growth.
The stakeholders also observed that the new consumer has changed tremendously; hence 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.
Speaking on the topic: ‘Role of Marketing Research in Nigeria’s Growth Trajectory’ he 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.
He added that data is also important in marketing.
Similarly, Dr Tayo Oyedeji, former Assistant Professor of Media Management and Economics at the University of Georgia, USA, stated that new consumer is now Multi-screen.
That is Phone, IPAD, TV is now the new norm with the new consumer. According to him, it’s like the new consumers’ life is tied to his phone.
He added that the new consumer in Nigeria now have global perspective of issues.
According to him, news and information is no longer local to the new consumer.
Speaking on the topic: The New Consumer, he noted that proper segmentation is also crucial.
According to him, proper segmentation would make advert campaigns to be a huge success.
He identified three segmentation models in terms of Consumer, Market and Hybrid.
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