The 21st Century customers are global citizens resident in your neighbourhood. Many of them are connected to the internet and can compare company prices with competitors. You fail them they switch to other brands,” the President of Advertisers Association of Nigeria (ADVAN)/General Manager, Consumer Marketing, MTN, Mr. Kola Oyeyemi, told about representatives of various advertisers at this year’s edition of ADVAN award for marketing excellence.
With growing understanding of how consumers are changing the marketing game, Oyeyemi said the growth of internet and mobile phone penetration, 21st Century consumers have been transformed and as a result, the marketing landscape is being forced to gravitate towards the consumers.
“They are so powerful such that they are brutally demanding and they know the global standard. They are not emotional and no longer loyal. If you fail them they switch their loyalty. This transformation has changed the marketing landscape in the 21st Century. Research variables and methodology too have changed with technology innovation. You no longer wait for long to get research results because of technology,” Oyeyemi said.
He noted that the change has also collapsed the historical product distribution structure as mega malls; adding that e-commerce and new generation of logistics companies are also changing the marketing game.
“Historical distribution structure are collapsing as mega malls, e-commerce are up. Night markets are disappearing and new generation of logistics companies are springing up. We are all aware of how traditional advertising is under threat. Internet penetration in Africa is changing marketing. Mobile device, social media are creating one of the most destructive impacts on the marketing industry,” he added.
He noted that to avoid the wrath of consumers, advertisers must co-create product proposition with consumers. He said when consumers are involved in brand development from conception, packaging to the end result, it will be easier to relate with consumers in the 21st Century.