FOR the first time since the advent of the Top 50 Brands survey in Nigeria, Dangote, a wholly Nigerian brand and company has emerged the Most Overall Valuable Brand in the 2018 Top 50 Brands, thereby replacing MTN Nigeria at the top with 87.4 points against 80.8 point from MTN.
Dangote had in previous editions, held the position of most valuable Nigerian brand but having emerged the most valuable brand overall, that automatically means Dangote is also the most valuable Nigerian brand.
ALSO READ: I want to lose weight
MTN Nigeria, however, occupies the second place in the ladder, as it emerged the Most Valuable Multinational.
Others top brands apart from Dangote and MTN include Glo-77.94,
GTBank- 77.59, Coca-Cola Nigeria- 73-69.2, First Bank Nigeria Limited- 69.2, Unilever Plc- 67.5, UBA- 66, Znith Bank – 65.9 and Dufil Prima Foods- 65.1.
A closer look at the results showed that out of the fifty top brands in Nigeria, twenty three of them are home-grown Nigerian brands, while thirty seven are multinationals. This means that 46 per cent of wholly Nigerian brands make the 2018 chart while multinationals amass 54 per cent.
The survey also saw Promasidor becoming the highest gainer by jumping 15 points upward, while second highest gainers are BUA, 9mobile and Olam with 12 points upward each.
Another significant feature in 2018 survey is the entry of Fidelity Bank as the first time entrant in the survey chart. And on the chart, Conoil, Channels TV, Union Bank, Access, Chi, Toyota and GTBank all maintained 2017 positions in 2018.
The Chief Executive Officer, Top 50 Brands, Taiwo Oluboyede, explained that the Brand Strength Model (BSM), was used in the rating of the brands.
“It is a model that measures a brand’s ability to deliver its promise to the consumers from the consumer’s point of view. The model uses basic qualitative elements, including a survey to determine this.
“It starts with a test of people’s knowledge and affinity with brands operational in Nigeria. We had a survey called ‘Top on the mind’ where people tell us brands that easily come to their mind or they can recall,” he stated.
According to him, other variables in the model include innovation, which is a test of product/service delivery, innovation in customer or media; Quality, which means checking some factors that enhance consumer’s confidence in product delivery and category leadership, and this means a classification of brands within their industry.
and then