-seeks strategies on how marketers can survive economic challenges
Forty eight persons have been conferred with the National Institute of Marketing Nigeria (NIMN) Fellowship Award. The Fellow is the highest membership grade of the Institute.
Speaking during the virtual award ceremony, the President and Chairman of Council, Mr. Tony Agenmonmen encouraged the recipients to continue to promote the Institute within their circles of influence, urging them to perceive the conferment as a call to serve the Institute and offer valuable advice and initiatives that will further build its equity.
According to him, the growing number of Fellow is an indication of the rising profile of the Institute as it continues to attract quality practitioners into its membership.
Agenmonmen explained that those conferred with this membership grade belong to the elite cadre of the Institute’s membership structure and therefore have a responsibility to project the image of the Institute in good light as many will look up to them for leadership, counsel, and directions with regards to activities concerning the Institute.
He said, “It was in February this year we last had an event like this. The environment has so changed, that it now seems so way back. Please permit me to thank all the guests who have committed their time to witness today’s ceremony. This is not usually how we do it. However, on this occasion, due to the raging COVID-19 pandemic, we decided that this conferment of Fellowship ceremony should be conducted as a fully digital event.
“Within the very challenging environment, we have continued and will continue to drive the Institute’s plans and programmes as best as we can. As you will easily recollect, earlier this year, we organized very seamless and transparent elections that became a reference point of how electronic voting can be conducted without rancor or controversy.”
He assured that the Institute’s comprehensive mentoring programme designed to support young marketing professionals will be unveiled soon.
According to the President, the Institute will continue to activate events, and programmes to promote the practice of the marketing profession in Nigeria and collaborate with other relevant associations and professional bodies to advance the profession and the industry as a whole.
Meanwhile, worried by the negative effect of the COVID-19 lockdown, the NIMN as said it is devising strategies on how its members can overcome the economic challenges in the country occasioned by the COVID-19 pandemic.
Guest speaker at the award ceremony, Mr. ‘Lolu Akinwunmi, in his paper presentation said in every recession, marketers find themselves in poorly charted waters.
He said, “Of course during recessions, consumers set stricter priorities and reduce their spending. As sales start to drop, businesses typically cut costs, reduce prices, and postpone new investments. Marketing expenditures in areas from communication to research are often slashed across the board; we all know that in many instances, such cost cutting decisions are indiscriminate, and can even be a mistake.”
He said further that, “What are the likely possible impact on the Marketing industry? The industry will suffer serious reverses associated with the general business environment, and specifically targeting the marketers. While we are a critical sector of the economy, we will sneeze as the overall economy catches a cold.”
Akinwunmi said in the midst of this uncommon level of uncertainty, there are certain imperatives the marketer must grapple with.
These include, changes in marketing and marketing communication; how to embrace the chaos and rebuild and how to manage new imperative of growth.
The National Institute of Marketing of Nigeria (NIMN) is the umbrella body for professionals engaged in marketing and related fields as marketing practitioners, sales and marketing directors, customer relationship managers, media planners, channel developers, creative directors, among others.
The Institute was established by Act of the National Assembly no. 25 0f 2003 with a chartered status conferred on it, the responsibility to regulate and standardize marketing professional practice through the conduct of comprehensive professional examinations and certifications, training, retraining and consultancy services geared towards ensuring that members adopt a professional approach to marketing and other related areas of marketing activities.