By Elvis Eromosele
In today’s economic landscape, uncertainty and volatility have become the norm. Businesses and consumers find themselves trying to navigate uncharted waters, particularly in Nigeria, which is grappling with economic instability, fluctuating inflation rates, and shifting consumer behaviours. Navigating these challenges requires a strategic approach that addresses immediate concerns while building long-term resilience.
Many are encountering the true meaning of VUCA for the first time. VUCA, as defined by TechTarget, stands for volatility, uncertainty, complexity, and ambiguity—qualities that make situations difficult to analyze, respond to, or plan for.
To address these complexities and promote innovative and sustainable solutions, MediaConsortium, a leading authority in brand, business, and marketing communications, is set to host the second edition of its influential conference and awards. Scheduled for September 26, 2024, at the Lagos Chamber of Commerce and Industry (LCCI) in Ikeja, this year’s conference theme is "Meeting the Brands/Consumers' Expectations in a Challenging Economy."
The theme underscores the critical need for brands and businesses to adapt their strategies in response to evolving economic conditions. As inflation, fluctuating exchange rates, and shifting consumer preferences shape the market, companies must align their offerings with the expectations of their target audience. This challenge demands innovative solutions, strategic guidance, and a deep understanding of consumer behaviour.
The conference will bring together industry leaders to explore strategies for navigating the challenging economic landscape. It aims to spark insightful discussions and identify sustainable solutions.
An impressive lineup of industry luminaries will share their expertise and insights. Mr. Yinka Adebayo, renowned industry expert and Group Executive Director at Omnicom Media Group-WECA, will deliver the keynote address, offering invaluable perspectives on the evolving consumer landscape.
A panel of seasoned professionals, including Adedotun Ajibade (Media & Insights Manager at Rite Foods), Dr. Dare Ogunyombo, lecturer, department of mass communication, Olabisi Onabanjo University, Ago Iwoye, Ogun State and Chineze Amanfo (Communications Lead at 9mobile), will provide diverse viewpoints and practical strategies.
Morolake Omokpaire, Marketing Director at Cadbury, will present a paper on the challenges and opportunities facing brands in the current economic climate. The conference agenda is designed as a hands-on capacity-building session for business executives.
The MediaConsortium Conference/Awards will address critical industry issues, including economic uncertainty, changing consumer behaviour, and supply chain disruptions. By promoting open dialogue and knowledge sharing, the event aims to equip attendees with the tools and insights needed to thrive in a dynamic market.
According to Adetunji Faleye, co convener, “For brands, maintaining relevance in a challenging economy involves a nuanced understanding of evolving consumer needs. In Nigeria, where economic disparities are pronounced, brands must tailor their approaches to address diverse consumer segments.” He added that the MediaConsortium Conference/Awards will be a crucial platform for sharing knowledge, celebrating achievements, and setting new standards for consumer and brand interactions.
Faleye also called on potential sponsors and participants to engage in the days ahead. By attending the MediaConsortium Conference/Awards, you will join a community of industry leaders dedicated to driving positive change and building a more resilient and prosperous future for brands and consumers. Following the conference, the awards ceremony will recognize brands and businesses that have excelled in meeting consumer expectations despite economic challenges.
The MediaConsortium Conference/Awards will focus on innovative solutions, sustainable practices, and effective guidance to help businesses and consumers thrive in uncertain times. Attendees will gain valuable insights and practical strategies to drive growth and enhance the consumer experience.
If this conference achieves anything, it will help brands understand what it takes to thrive in turbulent times. See you at the MediaConsortium Conference/Awards.
Eromosele, a corporate communication professional, writes via: elviseroms@gmail.com
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