Trade War: Nigerian marketers highly equipped to deal with fallout — Agenmonmen, former NIMN boss

The immediate past president of the National Institute of Marketing of Nigeria (NIMN), Prince Tony Agenmonmen, says though the nation’s marketing ecosystem is not immune to the ongoing trade war on the global market, it however has capable practitioners to handle the effects of such development.

Agenmonmen expressed the belief, in an exclusive chat with Brands & Marketing, recently.

The former NIMN boss argued that, just like in any other sector of the economy, the increase in tariff on imports by the United |States will definitely have its effects on marketers and the practice in the country, since the world has become a global village and marketing no longer exists in isolation.

For instance, he noted, some practitioners directly involved in marketing the products, affected by the tariffs, may have a herculean task on their hands, due to likely increase in the costs of such products.

“Selling to the already financially-burdened Nigerian consumers could be a challenge at these trying economic times for any marketer,” he stated.

The immediate past president of NIMN, however, believed one of the strategies to deal with such issue is for practitioners to brace up, be innovative and see the latest development on the global market as new challenges that must be confronted.

“They must know that it’s a new day, a new world. The average marketer must always see everyday as a new day, that will bring up fresh challenges. Marketers dealing with those goods, directly affected, may have more job to do; since marketing such products may require more efforts, due to likely increase in price.

“But, it is not insurmountable. The development only calls for a a different strategy, that will enhance your efficiency, and make you market the goods in such a way that customers’ pockets are not adversely impacted,” he stated.

The former NIMN boss, however, expressed the delight that the practice has the professionals that are well-equipped to handle the situation.

“We have very brilliant marketing minds in the country. I believe they understand the challenges. I‘m sure they will be able to come up with their strategies to handle such.

“But, that does not mean that all the marketing people in Nigeria are on the same level of competence. That is why you find companies that are successful, and companies that are not. But, we still have qualified and quality marketing people in Nigeria, and the situation that we are presently having is not beyond them,” he stated.

Akin Adewakun