In light of the current economic climate, Morolake Emokpaire, Head of Marketing at Cadbury Nigeria Plc., a division of Mondelez International, emphasised the importance of embracing a customer-centric mindset in marketing. In a special discussion with MARKETING EDGE on TV, Emokpaire stressed that companies that prioritise customer-centric approaches will eventually end up in consumers’ purchasing carts.
Amidst the current economic uncertainties, Emokpaire stressed that brands must prioritize staying at the top of consumers’ minds to inspire loyalty and equity. She underscored the importance of understanding the power of driving fiscal availability, ensuring that products are accessible to consumers when needed. Emokpaire stated, “Selling is important, and, as a marketer, it is in understanding the power of driving fiscal availability, ensuring that your products are within reach to the consumer at this time that matters.”
The marketing expert pointed out that the greatest challenges facing manufacturers or business owners today include delivering quality products at the right prices and meeting customer needs consistently. She urged brands to strive for salience, challenging traditional marketing paradigms.
Reflecting on the lessons learned from the current economic conditions, Emokpaire shared strategic perspectives for navigating turbulent times, drawing from experiences during the COVID-19 pandemic. She emphasized the need for marketers to conduct internal analyses, operate more leanly, focus on the right portfolio mix, and understand opportunities with price-pack architecture.
Emokpaire also emphasized the importance of being closer to consumers, prioritizing the key need to meet those needs profitably at scale and with a high degree of meaningfulness. She noted that businesses must implement adaptable initiatives aligned with the new economic reality to survive and continue serving customers with excellence.
Looking at the Nigerian marketing ecosystem, Emokpaire emphasized the interconnectedness of the marketing landscape with the macro-environment. She urged marketers to understand current trends and identify opportunities that align with organizational strengths. Emokpaire emphasized the importance of a good understanding of both macro and micro-environments, considering them as critical elements in the planning and execution of marketing strategies.