Lack of proper research reason for collapse of local banks,poor performance of brands
 |
| Fatima Ali Mohammed, Representative for Ghana and Nigeria, Superbrands UK |
Superbrands
UK representative for Ghana and Nigeria, Ms Fatima Ali Mohammed has
observed that lack of proper research on part of both regulators and marketers
in the country has been a major cause of worry, leading to the collapse of
local banks including non-performance of brands, businesses and institutions
among others in recent times.
She averred that most often due
diligence was not employed by marketers and regulators in taking critical
decisions which pertains to smooth running of local banks, businesses,
institutions and building of brands among others, a situation contributing to
significantly to failure and loss of consumer trust.
Highlighting on importance of
research to growth of businesses, she posited: “Research is crucial because it
gives you the pulse otherwise you walking into market very blindly with
blindfold, you don’t know who to target and why you’re targeting them” she
stressed.
Ms. Fatima Alimohamed was
addressing a media briefing in Accra on Thursday to present a research
result on performances of various brands and institutions in the country.
Superbrands Ghana has conducted
a research aimed at analyzing consumer behavior and perception about brands in
Ghana (both local and International).
The exercise involved 36
categories, and 750 brands comprises Fast Moving Consumer Goods (FMCG) such
beverages, foods, toiletries, to Government bodies, insurance, finance,
supermarkets, pharmaceuticals, electronics, automobiles hospitals, among
others.
The exercise which lasted for 2
months period witnessed sampled views of 785 consumers collected across
Accra, Kumasi and Takoradi representing the
golden triangle of the country.
golden triangle of the country.
Addressing the media, Olufemi
Laoye, Senior Research Manager at Nielsen Ghana, a global leading research firm
that has been awarded the project, explained the golden triangle sampling gives
an impeccable representation of all Ghanaian users under categories of brands.
“In terms of demographics, we
picked the age brackets that we know are going to give us a representation of
the various users. This year we did it in 3 key regions; Accra, Kumasi to
Takoradi, hopefully next year, we would broaden the scope and keep tracking the
performance of brands and institutions in the country”.
Mr. Laoye expressing excitement
at the outcome of the exercise said: “very healthy growing economy and very
exciting results and when we see Ghanaians interacting with several categories,
with Telecom, Financial Pharmaceuticals, Hotel Industries, Fast Moving Consumer
Companies(FMCG) and others”.
The much awaited results
witnessed Indomie Noodles emerged as the leading brand in Ghana for 2018
beating all categories in terms of Top Mind Awareness, Last usage also deemed
by the consumer as a super brand while Infant Malaria came out tops on the
Special projects categories.
In summary, it highlighted the
telecommunications sector, followed by toothpaste then immediately by tomato
paste as the top 3 most patronized categories in Ghana.
Within the banking sector, GCB
leads followed by Ecobank then came Fidelity and Barclays bank all featuring
among the top 5 brands in Ghana.
Interestingly, ECG also emerged
as the top service brands followed by NHIS and SSNIT among the government
institutions whereas Ghana Water Service trailed in the top 120 brands.
“We have noticed that the top
200 brands have cut across various categories covering Telecom, Health, Food,
Drinks, Paints, Biscuits, Automobiles, Mines, Retail, Insurance and so on. This
clearly shows that consumers are very aware and engaged with these sectors on a
daily basis” said, Ms Alimohamed.
Ms Fatima Alimohamed who also
doubles as the Chief Executive Officer(CEO) of African Brand Warrior further
maintained: “We intend to showcase and award those brands that have a history
and stood up to their ethos and propositions to become not only trusted, but
loved and admired brands.
She indicated that the full list
of all leading brands who emerged as the top 200 in this year’s Superbrands
Ghana’s recognition would soon be published and the individual brand owners
awarded to use the Superbrands seal for the 2018/2019 period adding, “the
consumers have spoken and we are raising the bar for investors into Ghana”.
Touching on recent worrying
trends within the Ghanaian banking sector, Ms Alimohamed said: “We didn’t need
to see performance or financial results to known which banks were going to go
down, our research results that spoke directly to consumers prior to the
announcement by BOG shows that all those collapsed banks albeit for one at the
bottom never featured in the Top of Mind Awareness list or in the last 3
months’ use-age or even deemed as a Superbrand”! “This clearly shows where the
people bank and who they trust with their money’ she added.
She therefore called on all
regulators and marketers in the country to endeavor to thoroughly research on
consumers and gather enough intelligence to decide whether or not to engage in
any business venture.
CLICK THE LINKS BELOW FOR MORE NEWS:
Comments
Post a Comment