By Tunde Oso and Matthew Johnson

The National Institute of Marketing of Nigeria, NIMN, has partnered with the Lagos Business School, LBS, to unveil a consumer insight report aimed at helping businesses better understand changing consumer behaviour and improve marketing practice in Nigeria.

President and Chairman of Council of the NIMN, Dr. Bolajoko Bayo-Ajayi, said the report, with the theme: ‘The new rules of relevance Community, Culture and Connection: Re-imagining the New Market,’ was conceived to provide marketers with evidence-based insights into the evolving marketplace from both consumers and practitioners perspectives.

According to her, the study drew from nationwide consumer surveys, focus group discussions with marketing professionals and in-depth interviews and urged “Organisations to move beyond traditional marketing strategies,” stressing, “Today’s consumers seek relevance, trust and meaningful relationships with brands rather than simply buying products,” adding “Marketers should move out of there world and see what people are saying outside.”

“Consumers now want to be part of the conversation from the beginning. They expect brands to understand their needs and engage them meaningfully,” she maintained.

Bayo-Ajayi explained “The report would serve as a practical guide for marketers in making informed business decisions and deepen understanding of consumer expectations in an increasingly dynamic business environment.”

She added that the collaboration between NIMN and Lagos Business School would strengthen the link between academia and industry by ensuring that marketing education remains relevant to current market realities.

“The marketing landscape has changed and continues to evolve. As an institute, we have a responsibility to provide thought leadership because what you do not understand, you cannot lead. This report is intended to help marketing practitioners understand consumers better and apply those insights in their day-to-day practice. 

“The report would stimulate discussions within the marketing profession and provide organisations with evidence-based insights to improve customer engagement and business performance. This report serves as a framework that is documented that marketing practitioners can actually leverage in there day to day activities ” she said.

Deputy Vice-Chancellor (Academic), Pan-Atlantic University, Professor Uchenna Uzo, described the report as a wake-up call for businesses to rethink their customer engagement strategies.

He said “Customer loyalty is increasingly driven by experience, consistency, trust and community influence rather than price alone,” adding “Businesses must focus on delivering consistent value to retain customers.”

According to him, “the report was based on surveys, focus group discussions and in-depth interviews involving over 300 respondents, including consumers, companies and brands across Nigeria’s six geopolitical zones.”

He explained “Customer loyalty is increasingly driven by experience, consistency, trust and community influence rather than price alone.

Uzo added that the focus of the report is to show what value really means to the targeted customers. 

He said : “The customer has moved on. Consumers are looking beyond price and asking questions about value. Businesses must understand what value means to their customers if they want to sustain loyalty,” insisting “The businesses that consistently deliver quality across different locations and over time stand a better chance of retaining customer loyalty.”