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Friday, 14 September 2018

Challenges of Globalization for Nigerian Marketers

Does globalisation pose challenges for nigeria based marketers? The answer is yes, since there is no place to hide with the current wave of WTO globalisation which has exposed domestic companies to the vagaries of aggressive global firms which are invaded most countries of the world.

Local companies that want to survive in this new globalised environment have little or no chance but to raise their game in the marketplace. The inability to craft survival strategies and at repositioning the firms for global competitiveness will cause their valued customers to desert them in droves. This is the lots of conglomerates in nigeria who have invested heavily in the other ways of offering values. This is the manifestation of consequences of an integrated and highly competitive global economy and reality.

So marketing is as a discipline is still in embryonic stage and the country, the scarcity of goods and services in the country has sustained the nigeria market as a seller's market with little consideration of the needs of the consumer as demanded by the marketing concept.

The government and it's functionaries has failed to initiate and implement policies aimed at building capability and capacity in the real sector of the economy in order to boost rapid industrialization of the country. This has resulted in a depressed economy having the following features.
High unemployment
- Low output and investment.
- Low growth in gdp falling gdp.
- Falling price of commodity as output falls due to decline in the demand and supply of crude materials.
- Depressed business confidence.
- Widespread standard of living.

       The need to think Global: the advent of globalisation is a wake up call on nigerian marketers to act local but think global. By implication all marketing programs starting from product development to delivery of product to consumers should reflect global standards. This is because globalisation is creating global rather than local marketers, with suppliers and competitors liable to be at the other end of the world. Global corporations are everywhere and aggressive for prospective customers.

 The quest to embrace change management strategy:  globalisation has created a very complex and fast evolving business world which is characterized by efficient technology sophisticated consumers, competitive suppliers and a dynamic business environment. This therefore imposes a great challenge to nigerians to stop wobbling and rise up to challenge the pursuing continuous organisational change management in the area of efficiency, cost effectiveness innovativeness and strategic planning in line with the volatility of change in the world today full stop organisations actually need to run so fast in order to remain at a place in this globalising world.

Raising up to global competition: another great challenge to nigerian marketers is the quest to rise up to global competitiveness. With the invention of the domestic marketers by global companies, which their cheap and sophisticated products, the nigerian marketers should know that there is no hidden place for them both in domestic and international marketplaces . What is required to make products capable of meeting international standard with unique aftersales services while applicable in order to compete variable in which global companies. The standard organisation of nigeria son is expected to play significant roles here by providing a transplant and sustainable regulatory framework. However to achieve success in this regard is a herculine task for the nigerian marketer. favourable in this evolving global marketplace going to
 - Corruption.
- Infrastructural setbacks.
 - Inefficient manpower.
 Multiplicity of taxes.
- High lending rates and charges etc.

 The need to advance technology: globalisation is being driven by technology via the process of innovation and interconnectivity technology awareness and deployment in critical element of production and marketing is still at its lowest ebb, due to lack of foundation and infrastructural facilities. Technological input has a termendous effect on production, packaging, after sales service and total consumers service program in the global market. The nigerian marketers is therefore required to embrace technology as a prerequisite for proper integration into the global marketplace.

Capacity building: For nigerian businesses to produce for the world market, this is the need to build an impressive capacity in production facilities and marketing organisations without this development they can not achieve economies of scale in these critical areas which provide the leeway too sick and pursue opportunities in the global market.

 Training and development: the bane of most nigerian businesses is in the ownership structure which revolves around the family members. Except for the likes of adenuga's whose children have access to quality education, many others are illiterate who are averse to change. This provides a challenge to nigerian businesses to train and develop the skills and competence of nigerian entrepreneurs to be able to face the global consumers. The global market is gradually moving into the cyberspace and sustained by business to business e-commerce infrastructure. What is the hope of an illiterate nigerian enterpreneur in an electronic world where online services will dictate the turn of business?

Repositioning the advertising industry for global effectiveness: another challenge of globalisation to nigerian marketers is the area of offering advertising, marketing research as well as recruitment service as the global companies venture into nigeria especially, the issue of advertising call for improved and standardized message capable of satisfying the yearnings of the global corporations are certain aspects of the message will need to be adapted to suit our socio cultural peculiarities. For example, despite having publicity consultant london, as the central strategic communication company DIAGEO the world's leading premium drink company still appointed CMC (connect perception managers) as it's public relations firm in nigeria CMC connect will liaise with the same central consultants and roll out a dynamic communication program for the entire johnnie walker whisky brand portfolio.

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