Dangote now Nigeria’s most valuable brand
Aliko Dangote, Chairman, Dangote Group |
Dangote Group (www.Dangote.com)
has emerged the most valuable brand among the top 50 brands in Nigeria for 2018
which were unveiled last weekend in Lagos.
This is coming barely three
months after the brand was adjudged the most admired brand of African origin by
consumers in a brand rating coordinated by South Africa-based Brand Leadership
in conjunction with Johannesburg Stock Exchange (JSE).
Brand Nigeria, the agency that
coordinated the survey in Nigeria, in its report lauded the efforts of the
handlers of the Dangote brand because this is the first time a Nigerian brand
would be achieving the feat since 2013.
Unveiling the list of the top 50
brands at an event attended by top executives of leading corporate
organizations in the country as well as stakeholders in the marketing and
advertising industry, Taiwo Oluboyede of Brand Nigeria explained that 46
percent of the top brands amounting to 23 are Nigerian brands.
Giving the highlights of the
brands’ ratings, he stated that Promasidor Nigeria Limited emerged the highest
gainer jumping 15 points from last year, followed by the trio of BUA, 9Mobile
and Olam all of which moved 12 points from last year, while seven brands,
Conoil, Channels TV, Union Bank, Access Bank, Chi, Toyota, and GTBank
maintained their positions.
He stated further that Fidelity Bank
came as a first entrant this year and Stallion Group made a fresh return having
exited before.
The top 50 brands in Nigeria,
Soboyede maintained, are the brands that have succeeded in delivering their
promises to the consumers. “They are fast growing in value and they are the
drivers of our economy. The top brands this year are those that have been able
to analyse needs, see opportunities by creating solutions to them and
communicating same to the consumers.
“They have also become so good at
it that the consumers often refer to them with the name of the need they meet
that is their products or services. These brands have found how to deliver
something special often times.”
Giving insights into how the
evaluation of the top 50 brands was carried out, he said, “We used the Brand
Strength Model Index (BSMI). It is a model that measures a brand’s ability to
deliver on its promise to the consumers from the consumer’s point of view. The
model uses basic qualitative elements and there are seven variables that go
into it.”
According to him, the variables
start with a test of people’s knowledge and affinity with the brands
operational in Nigeria.
“We had a top on the mind survey
where people told us brands that easily come to their mind or that they can
recall. Other variables in the model are innovation. This is a test how innovative
a brand service delivery is. Quality - this checks some factors that enhance
consumer’s confidence in product delivery. Category Leadership - this is a
classification of brands within their industry. Online engagements - this
checks how active the brand’s online platforms are and how engaging it has been
from last evaluation. National Spread - this checks operational presence of a
brand across the country.”
Chief Corporate Communication
Officer, Dangote Group, Anthony Chiejina said the management was not surprised
at the ranking because the company has continuously deepened and delivered on
its core values to be a world-class enterprise that is passionate about the
quality of life of the people and giving high returns to stakeholders.
“And this philosophy is driven by
values, which include customer service, entrepreneurship, excellence and
leadership. In any of our subsidiaries, the focus is to provide local,
value-added products and services that meet the ‘basic needs’ of the populace.
Through the construction and operation of large scale manufacturing facilities
in Nigeria and across Africa, the Group is focused on building local
manufacturing capacity to generate employment, prevent capital flight and
provide locally produced goods for the people.
“The expansion of our business,
especially cement, which has operations in 14 African countries including
Nigeria, Benin, Ghana, Senegal, South Africa and Zambia, among others has added
to popularity of our company and the products.”
It would be recalled that back in
July, the Dangote brand came atop in the ranking of 100 best brands in Africa
themed ‘Brand Africa: 100,’ the sixth edition announced in Johannesburg, South
Africa.
The brand leadership in the
ranking list said of Dangote brand that “Nigerian industrial brand Dangote is
the number one African brand recalled when consumers are prompted about the
continent (Africa) of origin while the South African telecommunications brand
MTN is the number one African brand spontaneously recalled irrespective of
continent of origin.”
The United States sports and
fitness brand, Nike, is the overall brand in Africa spontaneously recalled by
consumers.
The Brand Africa 100 ranking is
based on a survey among consumers 18 years and older, conducted in 23 countries
across Africa. The countries, representing all African economic regions,
collectively account for 75% of the population and the 74% of the GDP of
Africa.
African brands rose slightly to
account for 17% of the top 100 brands in Africa, non-African brands retained
their firm position in Africa with 83% share, Europe brands lead the table with
40%, North America 24%, Asia 19% and West
Africa 6% with only Nigerian brands and Southern Africa 6%.
The top 100 is dominated by
technology and electronic brands (29%), consumer (non-cyclical) (19%), apparel
(15%), automobile (8%), food (7%) and sports & fitness (5%) as the top
categories.
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