Academy Makes Case for Collaborations to Build Brands, Marketing

Raheem Akingbolu

As the world continue to move towards adjusting to artificial intelligence (AI), which is fast dominating all aspects of human life, experts have said that the only thing that would last into the future are principles and laws.

At the recent Marketing Research Academy’s Masterclass on the mechanics of data science and AI in business, the experts spoke about the best approach to growing brands, the intersections between AI and consumer understanding and what it takes to survive.
According to them, a lot of brands have started using AI in their marketing strategy.

They argued that brands are already making shopping experience more interactive with AI, adding that it does not only give product recommendations, but also analyse what customers will like more as well as creating an engaging and entertaining contact with the brands.

CEO, Kainos Edge Consulting, Prof. Doyin Salami, while speaking on the intersection between economics and consumer understanding, said brands must seek better understanding of the consumer to survive in a competitive market.

He said the brands must take advantage of technology, which gives the capacity to easily understand the consumer.
He added: “Nigeria is a multiplicity of markets, hence the need to create a superior, sustainable brand because the nexus between the consumer and the brand is understanding.”

For Dr. Harry Benjamin, the planet, people, profit and purpose would define the future.

He said, “We must ensure profit in everything we do and work towards collaborative profit. We all don’t need to be doctors, lawyers, engineers, success means healthy body, good relationships and profitable business.”

The programme’s convener, Seyi Adeoye told THISDAY that the programme, which started last year, looks at topics that are important to people across brands and marketing.

“We seek to create a common safe zone where professionals and academic communities can come together and stimulate conversations, challenging themselves on achievable goals.”

Adeoye, while reacting to how collaborative profit could work in Nigeria, said there was need for a complete mental shift.

Adding, “Let us start thinking collaborations instead of struggling to make it on our own. This is why MRA sees the need to imbibe this in the younger generation, especially university students that they can be in healthy competition where everybody wins. We hope that in another two years, we will be targeting to have a national platform, as we explore training and many more.”