Embrace Innovation, Technology, and Branding – Arokoyo Urges Entrepreneurs
By: Adamu Sani
A business expert, Prince Ayodele Arokoyo, has urged Small and Medium Enterprises (SMEs), especially bakers, to embrace technology and innovation for success in the modern-day competitive economy.
Ayodele Arokoyo, who is the Chief Executive Officer (CEO) of Multiplus Consult Ltd, made the call on Thursday during the 100 Kaduna Brand and Merit Awards 2023.
Arokoyo explained that entrepreneurs should adopt modern technological tools and techniques to build businesses that will ensure business survival with or without them in charge.
According to him, bakers constitute a significant portion of the manufacturing industry in Nigeria. Without proper baking technology, the industry might collapse, leading to millions of Nigerians losing their jobs.
“When people lose their jobs, it becomes a threat to national security. The government should intervene to sustain the industry.”
“A unique brand can have a significant impact on the bottom line by providing a competitive advantage over your rivals and helping you acquire and retain customers at a much lower cost.”
“In the realm of commerce, where new companies (and consequently, new competitors) are emerging daily, an established brand can be a valuable asset in attracting customers and generating profit.”
“Through careful construction of your brand via stories, relationships, marketing messages, and visual assets, you have the opportunity to shape customers’ expectations and create a unique bond that extends beyond the buying-selling relationship.”
“Effective branding is strategic, while marketing is tactical. Establishing higher objectives and clearly defining your brand promise enables you to develop a marketing plan geared towards achieving those goals.
During his paper presentation titled ‘Achieving Excellence in Brand Management,’ the guest speaker, Mr. Andrew Gani Ikilama, emphasized that branding and innovation are crucial for developing a generation of transformational leaders who embody courage, trust, and perseverance in business.
He stressed that business owners, especially bakers, need education and exposure to attain their desired goals, given the evolving world marked by technological trends and innovations.
“If we continue at this pace, Nigeria will become a formidable force. We simply need to collaborate to achieve our goals more swiftly and easily.”
