₦airaland Forum

Zeegold12:
Same thing happened to my friend.

Thank God he hasn't paid for the apartment yet

I had not paid yet but they refused to refund the money for the form. 20k gone like that

vickyfrancis1:
This naija sef tire person...even Agents sef dy follow scam people...I kid you not.

It’s so sad. People have become to greedy

Totilopussylick:
Shine your eye

My brother

So recently, I have been trying to get an apartment in Lagos. My first choice was a mini flat but after seeing the places I was taken to by agents for my budget, I decided to scale down. That means use the same budget but for a self-contain.

I finally found a place that I liked. A new building which was just being concluded. I was told the rent was 350k per year and total package N550k.

The only issue was that I had to wait for 2 weeks for them to “finish up”. I agreed but they agent said we had to pay for forms to secure the place. An extra 20k which is not included in the rent. I paid.

Slowly, two weeks became 3 weeks, a month and eventually a month and half. I was finally told place was ready but I should wait for the landlord to give his final go ahead.

We waited for 2 days and became hesitant. I kept calling the agent guy to ask what was going on. The house is ready and we’ve gotten forms and we’re ready to pay so what’s going on.

The agent eventually texted me in the night that he was in fact angry with the landlord. He had increase the rent to 400k, collecting two years and so the new total package was N1m and 50k.

I was in shock. He said I should give him a final day for them to persuade the landlord. The next day, I had to call him before he responded and said he will find me another place.

I asked about the 20k and he said “you know it’s company now? We can’t refund it”.

The name of the agency is Zeekaph Concepts Services. I am so disappointed. After almost 2 months of waiting, they did me dirty.

Oh I didn’t even mention that I had gotten one place earlier, even put my own lock and the next day, the caretaker said someone had paid before me and so I wasn’t the rightful occupant. My agent said he didn’t know and they refunded my money.

Lagos is a crazy place.


What has your experience been like guys?

So recently, I have been trying to get an apartment in Lagos. My first choice was a mini flat but after seeing the places I was taken to by agents for my budget, I decided to scale down. That means use the same budget but for a self-contain.

I finally found a place that I liked. A new building which was just being concluded. I was told the rent was 350k per year and total package N550k.

The only issue was that I had to wait for 2 weeks for them to “finish up”. I agreed but they agent said we had to pay for forms to secure the place. An extra 20k which is not included in the rent. I paid.

Slowly, two weeks became 3 weeks, a month and eventually a month and half. I was finally told place was ready but I should wait for the landlord to give his final go ahead.

We waited for 2 days and became hesitant. I kept calling the agent guy to ask what was going on. The house is ready and we’ve gotten forms and we’re ready to pay so what’s going on.

The agent eventually texted me in the night that he was in fact angry with the landlord. He had increase the rent to 400k, collecting two years and so the new total package was N1m and 50k.

I was in shock. He said I should give him a final day for them to persuade the landlord. The next day, I had to call him before he responded and said he will find me another place.

I asked about the 20k and he said “you know it’s company now? We can’t refund it”.

The name of the agency is Zeekaph Concepts Services. I am so disappointed. After almost 2 months of waiting, they did me dirty.

Oh I didn’t even mention that I had gotten one place earlier, even put my own lock and the next day, the caretaker said someone had paid before me and so I wasn’t the rightful occupant. My agent said he didn’t know and they refunded my money.

Lagos is a crazy place.


What has your experience been like guys?

Hi guys,

This may sound like a crazy question but where can the above amount of money be invested monthly to get a 50% or above returns. Open to high risk ideas too

Lalasticala

Pochettino:
Value isnt represented in figures. Its about how people perceive it.

Same way you believe Nike or Gucci is more valuable than Aba made shoes.

True. But there's measurable value. A Gucci may not be more comfortable than an Aba-made shoe. It serves the same purpose of protecting your feet.

Pochettino:
They sold value.

The numbers and reality don't tally

Today, we live in a perception world. In fact, we live in an augmented reality.

Fact 1

Tesla’s market capitalization is currently greater than almost the entire established auto industry combined. To put it in perspective, Tesla is worth more than General Motors, Ford, BMW, Daimler, Honda, Hyundai, Nissan, Mazda, Aston Martin, Volkswagen, Subaru, and Fiat Chrysler combined.

In 2016, just four years ago, the market capitalization of these companies was;
Ford — $56.8 billion
General Motor — $51 billion
Tesla — $31.5 billion

As of 1st January 2020, Tesla was capped at $75.7 billion, and by September 2020, it had skyrocketed to $458.9 billion.

Fact 2

Tesla delivered 499,550 cars by the end of 2020, made a revenue of $20.79 billion, and is currently valued at $668 billion.
Ford delivered over 1.18 million cars by the end of 2020, made a revenue of $130.9 billion but valued at $34.9 billion.
It doesn’t make a lot of sense, so what’s happening?

The dictionary describes Perception as the process by which an individual selects, organizes, and interprets stimuli into a meaningful and coherent picture of the world. [/b]People's perceptions are far more important than their knowledge of object reality. People establish the meaning of something based on how you make them perceive that thing.

The media said Tesla stocks rose because it surpassed Wall Street’s revenue predictions for the third quarter in 2020. The first perception painted by Wall Street was a dark and gloomy future for Tesla, so even when Tesla did slightly better than the projections, it was perceived as an impossible feat achieved.

Here are two other perceptions that have caused Tesla’s stock rise that may be untrue. I call them [b]perception against objectivity.
The market is pricing the stocks with the idea that Tesla will eventually gain 100% market share of the global automobile market, which is highly unlikely.

Investors believe Tesla’s EV model, tech, battery power, and infrastructure create an entirely new industry instead of disrupting an existing one. Although this one is close to the truth, Tesla now has some serious competitors like BYD, which is already a giant in China and is one of the fastest-growing auto companies globally.

But the real question here isn’t why it’s unfair for Tesla to be worth this much compared to the other companies. There’s a lot to learn, especially how we can apply perception marketing theory to our own endeavors. In today’s world driven by likes, shares, thumbs-ups, and social media influencers, you must take perception marketing seriously if you’re going to succeed.

Perception marketing is the deliberate effort by which a seller influences its potential consumer's external stimuli and experiences so that the consumer “naturally” chooses the seller's product subconsciously.

For example, Facebook uses persuasive techniques technology to change your behavior without triggering your awareness. Facebook created “tag a friend” to get you back on the platform. When you receive a tag notification, it automatically triggers your sense of curiosity, and it’s almost impossible to ignore it.

The two factors that create perception are;
1. Stimuli from an external environment
2. Expectation based on past experiences

Now let’s talk about them individually. Let’s begin with Stimuli from an external environment. If you’re going to create perception through stimuli from an external environment, there must be;
Problem recognition (internal and external). You must sell/highlight a problem even if it doesn’t exist at the time. Steve Jobs sold us the idea that there was a problem with phones which had buttons.

If it does exist, it must be exaggerated.

When you watch a Nike ad, it sells you the perception that if you were ever going to play like Michael Jordan in a basketball game, you had to be wearing an Air Jordan. But the truth is Michael didn’t start out doing legendary slam dunks in a Nike. Michael actually wore Adidas and almost didn’t sign the Nike deal because he preferred Adidas.

[b]Information; [/b]you must provide insight into that problem and educate your users. Some brands exaggerate problems or undermine existing solutions. Heck! Some brands actually create problems, then help you solve those problems.

It’s been widely speculated that Microsoft began creating viruses that attacked their software, then created anti-viruses and sold them to users.
Cigarette companies sell the addiction and sometimes sell the solution too; Nicotine patches and gums to help quit smoking.
R.J. Reynolds is the parent company that owns Niconovum, a Swedish brand that sells innovative nicotine therapy solutions such as Zonnic pouches and mouth sprays.

Determinant attribute/decision making. [/b]While providing information, you can direct your consumer's thought process to specific determinant attributes that your product carries.
In the mid-2000s, as diabetes and obesity became prevalent in the US, consumers began to express concerns regarding the quantity of sugar used in Coca-Cola’s Coke drink. Sensing the behavior change, Coca Cola began to sell an alternative diet and zero-sugar coke. By 2018, Diet coke sales had surpassed sales of the classic coke.

[b]2. Expectation based on past experiences.
The media is the most powerful tool to shape and change perception. The media engages our senses, and because of its character of mass acceptance and repetition, it is the most effective tool for perception marketing.

You can create experiences that shape perception through the following process;
Redefine concepts => Reinforce new concepts via experiences (using media, industry experts, consistency, etc) => Societal Acceptability (policies, norms, infrastructure, etc)


In 1937, the US passed the Marijuana Tax Act, effectively prohibiting the use of cannabis on a federal level. By 2016, it had become legal for recreational use in California. Artists like Snoop Dogg and Wiz Khalifa had begun to push for the social acceptance of marijuana through their music videos: young, wild, and free. It has become a part of the hippie culture most young people emulate. Today cannabis is estimated to be the largest cash crop in California, with a value of more than $11 billion.

In conclusion, the only way brands can truly differentiate themselves in their customers' minds is by taking the responsibility to build a perception in their minds. Now the moral ethics that guides each organization becomes the challenge. How far can brands go to make you addicted to them?

Today, we live in a perception world. In fact, we live in an augmented reality.

Fact 1

Tesla’s market capitalization is currently greater than almost the entire established auto industry combined. To put it in perspective, Tesla is worth more than General Motors, Ford, BMW, Daimler, Honda, Hyundai, Nissan, Mazda, Aston Martin, Volkswagen, Subaru, and Fiat Chrysler combined.

In 2016, just four years ago, the market capitalization of these companies was;
Ford — $56.8 billion
General Motor — $51 billion
Tesla — $31.5 billion

As of 1st January 2020, Tesla was capped at $75.7 billion, and by September 2020, it had skyrocketed to $458.9 billion.

Fact 2

Tesla delivered 499,550 cars by the end of 2020, made a revenue of $20.79 billion, and is currently valued at $668 billion.
Ford delivered over 1.18 million cars by the end of 2020, made a revenue of $130.9 billion but valued at $34.9 billion.
It doesn’t make a lot of sense, so what’s happening?

The dictionary describes Perception as the process by which an individual selects, organizes, and interprets stimuli into a meaningful and coherent picture of the world. [/b]People's perceptions are far more important than their knowledge of object reality. People establish the meaning of something based on how you make them perceive that thing.

The media said Tesla stocks rose because it surpassed Wall Street’s revenue predictions for the third quarter in 2020. The first perception painted by Wall Street was a dark and gloomy future for Tesla, so even when Tesla did slightly better than the projections, it was perceived as an impossible feat achieved.

Here are two other perceptions that have caused Tesla’s stock rise that may be untrue. I call them [b]perception against objectivity.
The market is pricing the stocks with the idea that Tesla will eventually gain 100% market share of the global automobile market, which is highly unlikely.

Investors believe Tesla’s EV model, tech, battery power, and infrastructure create an entirely new industry instead of disrupting an existing one. Although this one is close to the truth, Tesla now has some serious competitors like BYD, which is already a giant in China and is one of the fastest-growing auto companies globally.

But the real question here isn’t why it’s unfair for Tesla to be worth this much compared to the other companies. There’s a lot to learn, especially how we can apply perception marketing theory to our own endeavors. In today’s world driven by likes, shares, thumbs-ups, and social media influencers, you must take perception marketing seriously if you’re going to succeed.

Perception marketing is the deliberate effort by which a seller influences its potential consumer's external stimuli and experiences so that the consumer “naturally” chooses the seller's product subconsciously.

For example, Facebook uses persuasive techniques technology to change your behavior without triggering your awareness. Facebook created “tag a friend” to get you back on the platform. When you receive a tag notification, it automatically triggers your sense of curiosity, and it’s almost impossible to ignore it.

The two factors that create perception are;
1. Stimuli from an external environment
2. Expectation based on past experiences

Now let’s talk about them individually. Let’s begin with Stimuli from an external environment. If you’re going to create perception through stimuli from an external environment, there must be;
Problem recognition (internal and external). You must sell/highlight a problem even if it doesn’t exist at the time. Steve Jobs sold us the idea that there was a problem with phones which had buttons.

If it does exist, it must be exaggerated.

When you watch a Nike ad, it sells you the perception that if you were ever going to play like Michael Jordan in a basketball game, you had to be wearing an Air Jordan. But the truth is Michael didn’t start out doing legendary slam dunks in a Nike. Michael actually wore Adidas and almost didn’t sign the Nike deal because he preferred Adidas.

[b]Information; [/b]you must provide insight into that problem and educate your users. Some brands exaggerate problems or undermine existing solutions. Heck! Some brands actually create problems, then help you solve those problems.

It’s been widely speculated that Microsoft began creating viruses that attacked their software, then created anti-viruses and sold them to users.
Cigarette companies sell the addiction and sometimes sell the solution too; Nicotine patches and gums to help quit smoking.
R.J. Reynolds is the parent company that owns Niconovum, a Swedish brand that sells innovative nicotine therapy solutions such as Zonnic pouches and mouth sprays.

Determinant attribute/decision making. [/b]While providing information, you can direct your consumer's thought process to specific determinant attributes that your product carries.
In the mid-2000s, as diabetes and obesity became prevalent in the US, consumers began to express concerns regarding the quantity of sugar used in Coca-Cola’s Coke drink. Sensing the behavior change, Coca Cola began to sell an alternative diet and zero-sugar coke. By 2018, Diet coke sales had surpassed sales of the classic coke.

[b]2. Expectation based on past experiences.
The media is the most powerful tool to shape and change perception. The media engages our senses, and because of its character of mass acceptance and repetition, it is the most effective tool for perception marketing.

You can create experiences that shape perception through the following process;
Redefine concepts => Reinforce new concepts via experiences (using media, industry experts, consistency, etc) => Societal Acceptability (policies, norms, infrastructure, etc)


In 1937, the US passed the Marijuana Tax Act, effectively prohibiting the use of cannabis on a federal level. By 2016, it had become legal for recreational use in California. Artists like Snoop Dogg and Wiz Khalifa had begun to push for the social acceptance of marijuana through their music videos: young, wild, and free. It has become a part of the hippie culture most young people emulate. Today cannabis is estimated to be the largest cash crop in California, with a value of more than $11 billion.

In conclusion, the only way brands can truly differentiate themselves in their customers' minds is by taking the responsibility to build a perception in their minds. Now the moral ethics that guides each organization becomes the challenge. How far can brands go to make you addicted to them?

https://kleinuduh.medium.com/perception-is-reality-the-theory-of-perception-marketing-ef09c2a33cb2

coputa:
What do you mean by intellectual and educative materials ,are you talking about information that are use in our educational pursuit.
If you are a curious observer,you will know that the world has changed considerably,
Entertainment rules the world right now, people are no longer interested in reading books, the value of education has dropped considerably,a popular hip hop musician ,a dancer or a footballer has high regard than a university proffessor.
Information is education ditto, entertainment,times has changed and I think nairaland is moving along with the new trend..
Nairaland is also the true face of Nigeria.

I don't even mean such academic materials. Just general informative material on business, finance, geography or science would suffice

CharleyBright:
Did you say losing?
Nairaland has long lost its intellectual potentials.
Too many uncouth teenagers and illiterates who cannot make a valid and reasonable opinion other than abuse have flooded the forum.
Even the Moderators display absolute stupidity manytimes by the way they are quick to push Ludicrous Topics to front-page.
Often these times, you find some topics on Front-page, and you are forced to ask yourself: Who is More Stupid?: The Poster or the Moderators that brought the post to Front page.
And worse of all, Seun doesn't care... So long as he gets his alerts.

I think the moderators have a huge role to play in the quality of the platform. Most topics on the front page aren't supposed to be there

@Seun @Lalasticala

MejiLoyon:
Na here we dey catch cruise
It's been infested with scammers and thieves.
Since I lost a few millions here na that time I know say na yeye place. Make we just crack jokes enjoy na him remain

Really? How did this happen?

Kingosytex:
We reason alike.

Nairaland now specialises in promoting mediocrity. High quality educational materials are now in short supply.

Back then, I must confess that I really learnt a lot from this forum but now, some worthless issues are being promoted at the expense of mind opening topics.

I agree with you. I learnt so much as well.

Kingosytex:
We reason alike.

Nairaland now specialises in promoting mediocrity.

It's really sad. Does it mean Nigerians have generally gotten dumber?

samsard:
Amazon and Apple serves the same role in the US. Go and start your business instead of expecting others to be less aggressive just so you can succeed.

Don't be hostile, and don't personalize it Samsard. He's just saying that the government has not created a level playing ground for other competitors to flourish. The US has not done that for Amazon and Apple. In fact, the government is continuously trying to ensure that there's no monopoly. In tech, that isn't easy because of the economy of scale on which these companies thrive.

Over the years, I would come to Nairaland regularly to find educational material especially concerning Africa, Nigeria, and even business, with very solid insight from other readers. However recently I noticed that the intellectual part of Nairaland has dropped.

I hardly see educative material on the front page and I even share some but it's much harder to get them to the front page these days. The users don't seem as cerebral as before.

Is it just me or does anyone share this opinion as well?

Why aren't the mods promoting educative materials to frontpage again? It's mostly entertainment these days

ziziangel:
Very apt analysis!

Thanks for sharing.

Thank you!

ogyunging:
Nice write up

Thank you

meobizy:
Now, let the Dangote group free the market for competition let's see if it will stand the test of time. This country encourages mediocrity to the nth degree.

I agree with you. Dangote thrives on the monopoly encouraged by the government

centilad:

Nice Piece

Thank you

TheGreatIYANU:
Great piece OP

Thank you

Opay is still one of the biggest financial platforms in Nigeria and yes Nigeria is a pretty tough place to do business

heniford2:
good talk but where its opay know in Nigeria even noodles reduced is sales lately based on competition
Nigeria is truly a hard place to do business bad Government bad people and etc

In 1988, Nigeria’s Gross Domestic Product (GDP) was $23 billion and life expectancy for the country’s 91 million people was 46 years. GDP per capita was $256 and about 78% of the population lived under $2 per day. By this time, the country has already experienced six coups in its 28 years of existence and a Military General was currently the Head of State. This was a very poor nation and worse still, a very volatile one. Anything could happen.

Two brothers and executives from Singapore, Haresh and Sajesh Aswani who had been selling textile paid little attention to these statistics. From an initial importation of two containers of Indomie noodles, The Tolaram group has managed to build Indomie Instant Noodles to the eighth most-purchased brand in the world. With more than 4.5 billion packets sold per year and a staggering yearly revenue of $700 million.
How were these East-Asians able to build such a successful business in one of the most difficult places to do business on earth? How were they able to grow an 18 cents-per-packet product to a billion-dollar business?

Here’s another story.

Opay became popular in June 2019 when it introduced its Oride bike-hailing service with a promo of N100. It had actually begun in July 2018 when it started using a network of agents to reach Nigeria’s 36 million unbanked population. By August 2019, it had over 40,000 active agents across the country and $5million in daily transaction volumes.

However, the Opay story does not begin there.

Opay had been operating since 2010 as Paycom Nigeria Limited incubated by Telnet Nigeria Limited as a mobile payment platform. After seven years in operation, Opera decided to purchase the company in 2018. It doesn’t even begin there.
Now let’s look at the parent company.

In 2006 a Norwegian company, Opera Group ventured into Africa with its mobile browser Opera mini. A time when only 5.5% of the 142 million population even had access to the internet. As of August 2019, opera had the second-largest market share of mobile browsers in Nigeria and the second-largest in Africa after Google’s Chrome. Of over 460m internet users in Africa, Opera has about 120m using its mobile browser.
Opera’s second quarter (Q2, 2019) report recorded a $4million income gain (including non-cash gain in from Opay’s increased valuation) and today, Oride does as much as 100,000 rides daily — more than Gokada and Max.ng. In fact, the competition was so fierce Gokada had to suspend operations for a couple of weeks to restrategize.

How were these foreigners able to scoop up so much market shares from these industries? What do these foreigners understand about Nigerians that we don’t?

I will break down what I believe these foreigners discovered about doing business in Nigeria. Don’t forget, Tolaram almost shut down operations in 1998 and began making a profit after 20 years. So, they too made mistakes, but they learnt something new, something we probably can all learn: how to sell to Nigerians.

Patience and long-term view
Today Tolaram controls more than 74 percent of the instant noodles market in Nigeria and that’s a drop from 2006 when it was a complete monopoly. It now has 17 manufacturing plants in Nigeria and manages a fleet of over 2,000 trucks for its logistics.
However, it took Tolaram 20 years to gross $100m and a few more years to realise a profit-making formula. They were patient about growth, however, they were inpatient about profit. They realized that they were targeting the needs of Nigerians who were generally poor and decided to make long-term investments by cutting cost, so they moved the noodle manufacturing to Nigeria. Today, with an investment of $330 million, they are building the busiest port in Lagos.

Opera the company behind Operamini and Opay had actually been in the Nigerian market for about 13 years. During this period, they patiently studied the market, demography, customer behaviour; mapped out what worked and what did not with hard data. Jeff Bezos says it takes at least 10 years to create an overnight success. Today Opay is rapidly expanding and if you don’t know the back story, you keep wondering how they figured this out in so little time.

Since these two businesses figured out the right formulae, they have both been executing like a well-oiled machine. Tolaram has had a compound growth rate of 36% since 2001. Once profit formulae is discovered, the growth of the enterprise tends to be explosive. But this takes time and continuous process innovation.



2. Study customer behaviour and create a great product around it
I know this sounds cliché but it’s too important. Tolaram observed that as the economy developed and traditions began to evolve, more women were getting into the workforce. They needed tasty meals that could be made faster for their children. Tolaram found its market; provide tasty meals that can be made in 10 minutes. The product strategy appealed to a population with an annual per capita income of $257 at the time and this population was exploding. They had struck gold.


Here’s a little twist on Opay. Opay wasn’t the first company that began financial solutions services in Nigeria. In fact, compared to Paga, it was a latecomer, however, they came with a superior strategy. Opay knew that to ramp up its financial solutions service, it needed to build a transactional structure around its payment platform. It needed to offer other services that would utilize its financial platform. It quickly diversified. Note; Opay diversified rapidly into areas that were new, relevant and with its target demography in mind: millennials.
Young people lack enough experience to be afraid, so they are open to change. Opera, a browser mostly used by young people, understood this principle and diversified into the most relevant touchpoints for these people. The results reflected in the volume of transactions.
Let’s compare results with Paga
(I love Paga by the way, I used their payment platform for my first e-business a couple of years ago and visiting their office was a level of inspiration for my partners and I).

Paga got its full operating license in 2011 and by 2017 (6 years later), they had reached 5 million users, 20% of whom were active. Between 2015 and 2016 they had handled transactions of almost $800 million.
Opay in one year of its founding does an average daily transaction of $7 million which roughly translates to $2.5 billion annual transactions. This is in contrast with Paga which so far has done $4.2 billion since its inception in 2011 (9 years) or even Flutterwaves’ $2.5 billion since 2016 (3 years).


What did Opay do differently?
Opay added new verticals ontop of its payment platform. Remember, the actual goal is Opay. The other platforms are to feed it with transactions. I’m sure you’re wondering why this is important. Let me put it simply; the higher your transaction volumes, the higher your valuation. Higher valuation means potential higher exist for investors. These verticals include Oride, Obus, food delivery (Ofood), wealth management (Owealth), and Ocash loans, turning this baby into a super app. Of course, I may not entirely support this steroid growth, but I think if managed properly, will still turn out a major success.
So you see the Double Play Strategy? they’re not really losing. The “lose” money offering freebies on Oride and make it up on Opay. These touchpoints or verticals are actually Opay’s great strategy as a result of understanding customer behaviour and building a great product around it.


3. Finance and marketing
The Vaswani brother began with two containers of Indomie noodles, however, the real boost came when they moved manufacturing to Nigeria. They have invested over $350 million so far. Tolaram had to build what Harvard innovation experts call “interdependent architecture”. *when a product or delivery of the product is not good enough, the company which provides the product has to create an interdependent system, i.e; integrate across multiple components in the value chain to better manage interfaces across these components. Tolaram in its case provides its own electricity, manages a fleet of over 2,000 trucks for its logistics and bought a Palm oil factory (palm oil is a necessary ingredient in making noddles).

To succeed in Nigeria, you need money, lots of money. This is especially so if you’re introducing a new product to the market. You have to educate potential customers. Just like in Tolaram’s case, “Many people initially thought we were selling them worms,” — Deepak Singhal, the CEO of Tolaram Africa. In 2016 alone, according to a document by Dufil Prima (Tolaram’s subsidiary under which Indomie is run) spent N8.2 billion on marketing expenses.

Finally, just to throw some more light on marketing, it is important to put into perspective the cultural differences in Nigeria. Nigeria should be seen more like a cluster of regions with varying cultures rather than one country. For example, in the north, women’s involvement in the workforce is much lower than in the southern part of Nigeria. Also, the man usually does the grocery buying while the woman spends a longer period in the kitchen cooking.

This does not agree with the concept of Indomie’s fast food option and that’s why consumption per capita is lower in the north than in the south. The literacy rate and internet penetration are also lower in the north. So the best strategy for customer acquisition would be more traditional means like radio and TV because that is what men (usually the buyers) engage with. In the southern part of Nigeria, people are more fast-paced, literacy is high, so is internet penetration.

This means the best marketing strategy would be reaching the customers via digital platforms. In indomie’s case, the active buyers are the youth (12–30 years) and they successfully target this group with social media engagements. Customization promotion channel is key especially when culture differs. In Nigeria, you must market taking psychography into consideration and do it with intensity and consistency.
In 2019, Opay raised $50 million, much more than what Paga and Paystack have raised combined. This helped it integrate its verticals and market aggressively using what always gets Nigerians: Awoof!

Extra: You need God.
I know it sounds funny but trust me, you need God to succeed in Nigeria. Luck isn’t even enough because you can run out of that. It’s a tough place to do business, but with the necessary knowledge and information about how Nigerians defy basic economic principles and perseverance, sprinkled, no, soaked with the faith, you’re good to go.

*Psychographics is a qualitative methodology used to describe consumers on psychological attributes. Psychographics has been applied to the study of personality, values, opinions, attitudes, interests, and lifestyles

My name is Klein and I hope you found this useful.

Link to post https://kleinuduh.medium.com/how-to-sell-to-nigerians-the-tolaram-indomie-makers-and-opera-story-part-1-397e2438bb28

Is it this story you do not believe, or it's the possibility of man to build honest wealth for himself in Nigeria?

thebosstrevor1:
I dont believe this story. Fake news

The man father was governor of lagos state.

Father was wealthy just passed his wealth to his son.

Awesome

OVB123:
This is a motivational article. it thought me never to give up in life.

In 2019, Femi Otedola sold his entire 75 percent majority stake in the oil marketing company to Prudent Energy, completely diversting from oil. However, he went on to invest $1 billion into Gregeru Power PLC.

This company is not particularly new. In fact, Geregu Power Plc was incorporated in November 2006 as one of the unbundled companies from the now-defunct Power Holding Company of Nigeria (PHCN). The gas power plant began operations in 2007 with a total installed capacity of 414MW at commissioning. The purchase of Geregu was done in 2013 during the power sector privatization, under Amperion Power Distribution Company Limited which is a subsidiary of Forte Oil Plc. After the acquisition, $94 million was initially invested in the power plant. In 2018, another $350 million was pumped into the plant.

I know but I'm talking about their approach. They are mostly participatory in these industries and not players. Cuppy doesn't own a music label for example and she has the capacity to. That's a business side of it.

hotamart:
Entertainment and Fashion is business

CC: Lalasticala

The culture of the present society has weakened the character of grit and perseverance.

MightySparrow:
So why are youths who haven't gained anything anything choosing suicide rather than weathering the storm? Inspiring story.