Tuesday, July 14, 2020 1:18 pm
The 2020 edition of the annual TOP 50 BRANDS NIGERIA®, an evaluationof top corporate brands in the country has been designated to commemorate Nigeria Independence Diamond Jubilee. The special edition will be 60 top brands in honour of Nigeria.
Every year, TOP 50 BRANDS NIGERIA evaluate and presents 50 top corporate brands (companies) in the country. These cut across the entire categories of corporate Nigeria, ranging from banking and financial services, consumer goods, manufacturing, retail, Food and beverages, agriculture, Automobile etcetera, with the exception of government corporations and NGOs.
In a statement signed by Taiwo Oluboyede, the firm’s CEO, which was made available to the press, he stated.
The 2020 edition, which is the 8thinthe annual top brand evaluation where we select, evaluate and rate the performance of top corporate brands in Nigeria for the year has been made as a special commemorationedition to celebrate Nigeria’s 60the Independence celebration”.
He said “In honour of our nation’s 60th Independence celebration, we will be presenting top 60 Brands that Power Nigeriainstead of the regular 50. This is the first time we will be having anything like this in this annual ranking”
He went further that ‘You will agree with me that 60 years is a significant milestone in the life of any nation. We recognise this, so, we have dedicate the 2020 edition of this annual brand evaluation in honour of our fatherland’
Explaining the significance of brand and the need for regular evaluation, he said “Brand has become the most valuable asset of a corporate organisation in a capitalism system the world over. Though intangible, it has proved to be more valuable than the entire physical assets of the organisation. Brand is a critical differentiator and mostly the sole determinant of the premium a consumer is willing to pay on a product or service.This is greatly appreciated during acquisition and merger of corporations.
Brand therefore has gone far beyond just beautiful logos, fine fonts and slogans. It is a promise of value to the consumers (audience).
For something that Important, there is also the need for benchmarking’ he posit
On the top brands evaluation process, he said “To emerge a top brand in Nigeria, a brand is evaluated using the Brand Strength Measurement (BSM Index). It is a mathematical model that evaluate a brand’s ability to deliver on its promise to the consumers from the consumer’s point of view.
The process starts with a Top on the mind (TOM) survey, where we check affinity with these brands. Respondentsare asked to list or mention brands that easily comes to their mind or that they can recall.
Otherkey variables in the BSM model includes, Online Engagement, Innovation, Quality, National Spread, category Leadership and CSR. All these are aggregated to determine the top brands for the year.
The outcome of this annual evaluation is now like a report card from where top corporate brands have an independent opinion about their brand positioning from consumer’s point of view in the corporate Nigeria.
For the 2020 special commemoration edition he said “The 60 top brands for the year with their profiles and details of the process will be presented in the Brand Nigeria annual publication, a compendium on the profile of the top brands for the year. This is circulated across the corporate Nigeria and it is also online with audience from over 100 countries of the world”.
The series of activities for the year will culminates at the #IAMBRANDNIGERIA Leadership Forum &Award, where respectable thought leaders, captain of industries, most senior government functionaries will be deliberating on ‘The Brand Nigeria, Opportunities, Possibilities & Challenges’ later in the year.
At this same event, we will be recognising and honouring certainexceptional individuals and corporate brands that have become proponents of value addition to the brand Nigeria through their endeavours.
This 2020 edition of the event will be virtual due to the global pandemic which presently prevents mass gathering of people”.
While we wait for the details of the Leadership Forum, including speakers, date and time to be communicated in earnest, please keep safe.