THEORIES OF CUSTOMERS BEHAVIOUR

In a bid to get on the top list of rankings on the Wall Street, Nigerian Stock Exchange, Fortunes¸ Africa Investors Research, many companies expand or diversify brands. Growth and globalization is the reason most companies expand brand. They even have a name for the process, rebranding. They build series of products, companies and services so as to appeal to another set of market whilst holding onto current customers.

 

Most Nigerian companies fall into this globalization trap without warning. A marketing campaign is launched that consist of taking away customers of other companies while holding onto their current customers. In order to attract more sales, many have tried to reinvent or recreate their businesses with still holding on their former businesses. The challenge of making more profits and winning the war of business is driving a lot of companies to go through this rebranding process. Our dear Country has also falling into the rebranding trap. 

Many are creating new products for their new customers. Let’s imagine Coca-Cola in order to increase her profits decides to introduce a beer which would be known as Coca-Cola Beer. Or imagine that Microsoft in a bid to generate more clients and create more profits decides to venture into hardware by introducing Micro-Hard into the market. Truly, it sounds logical and wise decision for any management to make a rebranding decision… I guess that’s why many in Nigeria are making such decision.

 

When Cadbury came up with the idea of Tom-tom Extra to supplement the efforts of the original tom-tom, it was an effort to increase profitability and growth. Tom-tom used to generate revenue of ……… until Tom-tom Extra was introduced… the revenue turned to ….. in 2008 staffs were running away from Cadbury as they couldn’t meet the target being set by the company. It was a target that was possible to meet but something happened that must have caused the trouble. When May & Baker ventured into Mimee Snack Noodles and Mimee Noodles, there both were beautiful ideas that could have help rebuilt the business but it didn’t, it rather took May & Baker down the slope.

 

Robb, one of the flagship brands in the stable of PZ Cussons went through the dumb process of rebranding… even my computer does not recognize the word REBRANDING… According to the General Manager of PZ Cussons, we have tapped into a great area of the need of Nigerians and come up with new variants that are designed to ensure consumers continue to enjoy and relish the unique and authentic ointment solutions they cherish. Each and everyday, we are becoming conversant with this kind of dumb strategic process. With the introduction of new brad ointments such as Robb Tin, Robb Inhaler, Robb Junior, Robb Tarzan Herbal, Robb Intense Heat and Robb Spray. My question is, where would all these brands end up? Your guess is as good as mine. If you have a ROBB JUNIOR, which then is the ROBB SENIOR? That goes to say that Robb will have to fight with his other brands. It’s a dumb process for brands of same companies to wage war against themselves.

 

Even people can rebrand themselves but true brands don’t rebrand, you either have a brand or not. Maybe, it’s iimportnat to understand what a brand means, ‘ a brand is simply a leader, model, path-creator, a product that means the industry.’ i.e when you think of ointment, you’d say ROBB. But why then did ROBB rebrand for? Why did ROBB change its leadership, path-creator’s nature, is it looking for a new industry? 

The truth of the matter is that companies are growth-starved… they feel that success is in engaging a business in two or more markets. They concentrate on two or more markets that they are incapable of managing rather than focusing on one market and appeal to the same group; they try to show their managerial brilliance by increasing their brands. Just as your eyes cannot focus on two books at the same time, your dominance in the market is not by getting involved in many markets. You can only appeal to one crowd. Ever heard the adage, jack of all trade, master of none.

 

The introduction of tom-tom extra does not mean growth, it means extending a brand. They only have two markets to concentrate on. Imagine Ariel have 3 brands, it has 3 markets to focus on. Microsoft has nothing else to focus on except software in micro form, little wonder, it’s the 2^nd most popular and valuable brand in the planet. In 2005, Microsoft was worth $304 billion in the stock market, can you beat that? It takes understanding of this process to win in the business world. You can’t be engaging in a me too strategy and expect to win the marketing war.

 

It’s my joy for you to create a sellable asset that serves you for eternity if Christ tarries just like RARE Mentor. If you’re serious about freedom and you want to get someone who can just show you how. Well, subscribe to a FREE Magazine that’ll help you to create businesses that can work without you. SMS me NOW! OR Call a Rare Coach® Now! 234(0)8030868300, 234(0)8038270921 or Email: coachchudi@gmail.com

Chudi Onyemeri: is a license Business Freedom Coach of the World’s No.1 Business freedom Coaching firm, Rare Coaching Company, the company is responsible for helping Entrepreneurs create prosperous businesses that works without them. At age 21, he was an Associate Editor of one of Nigeria’s foremost magazine where he helped the magazine reached sales of over 50, 000 copies from just one of their many editions. Chudi was a Former Director of Fortunes Entrepreneurial School , an institution, which he and his friend, Tade Esan formed in 2006. Chudi has appeared on various media as a columnist Fast Company, Start-Up.com, Entrepreneur.com. He has a special passion for the preservation of human dignity.

ATTENTION BUSINESS OWNERS: FOCUS ON YOUR RABBITS 2 Chudi Onyemeri

ATTENTION BUSINESS OWNERS: FOCUS ON YOUR RABBITS 2 Chudi Onyemeri

 

The challenge business people have is that in the process of trying to grow, they engage their businesses in two or more markets. Would Robb not diminish the monopoly advantage that she already has in the marketplace? Then he continued, as a creator of business, you must understand how to magnetize and attract the kind customers you want.’ At RARE Coaching Company, we discovered that businesses around the world must understand how to create the kind of customers they want not how to compete with the customer’s of their competitors. RARE Mentor said, ‘the way of the Freedom-Minded is to create customers that you want and not compete or snatch the customers of others. Competitors are reactive, creators are producers of customers and it is your creators nature that gives you a monopoly advantage®’.

 

In attracting perfect customers, we must know the kind of customers that your business is designed for. Your business is not designed for everybody. As RARE Mentor said, ‘Everybody’s business is nobody’s business.’ in discussing with RARE Mentor about attracting the perfect customers, he shared a story of a bird with us. He said, ‘you don’t see different kind of birds flying together neither do you see different kinds of animals flocking together. Every creature prefer its own kind and people. The personality of your enterprise must be in affinity with the personality of a unique set of people. No matter how much you know about your product, you must think specifically about people.’

 

Trying to show your managerial brilliance by increasing their brands is not a good way of Handing off from your business. RARE Mentor also said, ‘marketing is a system and making sure you always lead the market should be your system. Just as your eyes cannot focus on two books at the same time, your dominance in the market is not by getting involved in many markets. You can only appeal to one crowd. Ever heard the adage, jack of all trade, master of none.’ He concluded with us that evening as he stood up. I and Tade joined him. We had been dismissed for that day. As I and Tade flagged down a taxi, we were quiet all through the journey. I realized that almost all the businesses in Nigeria were doing the opposite of what RARE Mentor had advised us on. The introduction of tom-tom extra does not mean growth, it means extending a brand. They only have two markets to concentrate on. Imagine Ariel have 3 brands, it has 3 markets to focus on. Microsoft has nothing else to focus on except software in micro form, little wonder; it’s the 2^nd most popular and valuable brand in the planet. In 2005, Microsoft was worth $304 billion in the stock market, can you beat that? It takes understanding of this process to win in the business world. You can’t be engaging in a me too strategy and expect to win the marketing war.

 

If Zenith Bank decides to announce herself as the millionaires bank, even those who are yet to be millionaires would want to bank her. You don’t need to engage many markets to increase the dominance of a brand. A brand already means something in the mind of customers. The Oba of Benin is not the Oba of Lagos, they both have their crowd and are uniquely respected. Claiming to be the Oba of Millionaires Bank and customer’s service bank at the same time is reducing your brand. The more you grow, the more you should find a specified market to focus on. The idea to appeal to entire world is what makes company grounded. Eleganza is not a global company even though it has prominence in Nigeria . It cannot do well outside Nigeria because of the problem of branding. She means too many things to all people. With biro, coolers, shopping mall, the question is where is the former business kingpin? I rather think, it’s not because of the management inability to reinvent or rebrand but the business owner’s inability to create businesses that can always work without them.

 

Success in business is not a mystery, it’s a product of strategies. The right strategy is what influences business success. Many are stranded in business not because they are unable to think sound business or come up with great ideas but because they lack the strategy to make business work without them. Rather than own a restaurant that appeals to too many people, it’s better to create businesses that would always dominate the market. When a business has too many battles to fight, it would lose all the battles at the same. You can’t chase two rats and expects to get the two… you’ll get none.  

 

One of my favorite comedians is Bill Cosby. Many may not see him as an Entrepreneur, but I think he’s got some wisdom for aspiring Business Creators when he said, I may not know the secret to success but I do know that the secret to failure is to try tom please everybody. You can only appeal to one group, one crowd, one market. Chasing two or groups, markets and crowds is like chasing two rabbits … it’ll be an unsuccessful chase. The idea to chase two rats is spurned from the assumption that at least you’ll be ale to get one of the rabbits. Or from the idea that you should not put all your eggs in one basket, so the idea is to put them in all baskets. The question then is, how many baskets can you carry at the same thing? Imagine you chasing two rats at the same time. I guess people might probably think you need an examination. Success is focus. Success is understanding the specific thing you’ll need to succeed with and getting them. Success according to a mentor is knowing the right thing to do and doing them, knowing the right way to go and going there and knowing the right thing to say and saying it.

 

It’s my joy for you to create a sellable asset that serves you for eternity if Christ tarries just like RARE Mentor. If you’re serious about freedom and you want to get someone who can just show you how. Well, subscribe to a FREE Magazine that’ll help you to create businesses that can work without you. SMS me NOW! OR Call a Rare Coach® Now! 234(0)8030868300, 234(0)8038270921 or Email: freedomcoaching@yahoo.com

Chudi Onyemeri: is a license Rare Coach of the World’s No.1 Business freedom Coaching firm, Rare Coaching Company, the company is responsible for helping Entrepreneurs create prosperous businesses that works without them. At age 21, he was an Associate Editor of one of Nigeria’s foremost magazine where he helped the magazine reached sales of over 50, 000 copies from just one of their many editions. Chudi was a Former Director of Fortunes Entrepreneurial School , an institution, which he and his friend, Tade Esan formed in 2006. Chudi has appeared on various media as a columnist Fast Company, Start-Up.com, Entrepreneur.com. He has a special passion for the preservation of human dignity.

ATTENTION BUSINESS OWNERS: FOCUS ON YOUR RABBITS     Chudi Onyemeri

 

An extraordinary series of events took place in I and Tade’s (my partner’s) lives, beginning when I was an Associate Editor of one of the leading magazine in Nigeria at 20. Tade Esan was a renowned Book Expert and carved a profession of Book Consultancy because he helped busy Executives with vital resources for their development. In his work with People, he demystified the myth that Nigerians don’t read. But success did not come until Tade and I stumbled upon RARE Mentor in the Head-Quarter of a bank in Lagos , Nigeria . We had been invited by one of the Bank’s Executive when we met RARE Mentor at the reception of the Bank’s corporate office and the adventures that followed were to transform their lives.

 

The years that follow prior to our encounter with RARE Mentor, I was an Associate Editor whose dream was to help others achieve their own dreams their development. So I also became a Development Consultant. As an Associate Editor and a Development Consultant, I was later to seat among professors of Universities, gave speeches to young people and receive some honors. My life brought rewards. At 21, my phone was always buzzing with calls from people I had never met before.

 

Someone had seen my face on a magazine and called me up for a relationship. Her name was Kendi. Kendi called me each night and day and sometimes spoke for twenty minutes on the phone! I never saw Kendi and avoided any physical meeting with her, at least she was based in Port-Harcourt while I was in Lagos . Interestingly, Kendi was about 28 years and a graduate of Medicine while I was not yet a graduate and was just 21. Everything was going well! I felt on top of the world.

 

Meanwhile Tade, had succeeded in his Book Consultancy that he was a special feature on Daily Sun Newspaper. He shared insights on Books and the powers they carry. It became an instant credibility for Tade that universities posted the articles on their boards. In the University of Ado-Ekiti , a lady friend of his, had seen the article and called him in the night thereafter. This lady had never called him on phone before. He was named the Personality of the week in the University of Ado-Ekiti.

 

However, in the early quarter of 2006, something began to take shape in our lives. We began to get uncomfortable with our achievement. By then, I and my magazine team had launched another version of Magazine meant for students and Tade had us as the Corporate Affairs Manager. Tade was also setting up his Resource Firm and was taking it to a new height because of the trailing success and the growing number of clientele. During this time, I felt a growing melancholy, even in the midst of all these. Shortly thereafter, I started writing on Business in Africa . Nearly every night, I jerked awake, writing, reading and researching on Business in Africa .

 

I started a series entitled Entrepreneurial Tendencies on my column. I wanted more struggling businesses to grown into Great Corporation. One evening, I discussed this issue with Tade and discovered that we shared the same passion as he was also interested in facilitating growth and success for Entrepreneurs than any other thing at the moment. We discussed this issue each day that it consumed their activities. We became consumed by our latest passion that we began planning on new initiatives. In our plans, we started a project that entails interviewing top Entrepreneurs in Nigeria . We wanted some of the leading Entrepreneurs in Nigeria to share insights on business to other young people and Start-up Entrepreneurs.

 

Then we took up another challenge by getting plans ready for a Business Academy known as Fortunes Entrepreneurial School (FES). We discussed this issue with someone who gave out a space for the Academy to take off for FREE. We also got top Facilitators who became enthusiastic of the project. This crusade was like a virus in our blood. Then they also began a plan for a new company that will help to oversee these projects, they called it Potsherd Human Development Company, the company was a Life and Business Coaching Company. 

 

Then we met RARE Mentor and everything changed. We had gone for an appointment at a Bank’s Executives when we met RARE Mentor. He was our teacher and we became his student.  

 RARE Mentor created over 105 businesses that work profitably without him. He once said to us in Library, which he called The Wisdom Companion Chamber, ‘Because true entrepreneurs know their limits and understand that FREEDOM is the most important business goal, they establish factors that help them create businesses that always work prosperously in their absence. Business creators recognize owning a profitable business is  not the same as owning a profitable business that works without you.’ 

According to RARE Mentor, ‘What makes a business profitable in the short term is not the same thing that facilitates your freedom as an Entrepreneur.’ He went on to say that, ‘Many have tried to use a mathematical approach to solve their business problems. They assume that business success is predicated on your statistical approach rather than a customers approach.’

RARE Mentor became our teacher, showing us the way that leads to success and freedom in business... the same strategy that he used to create more than 105 businesses and retired at age 35 was what he showed us... At the beginning, it was like a dream, but today it is a dream come true... thanks Rare Mentor.

It’s my joy for you to create a sellable asset that serves you for eternity if Christ tarries just like RARE Mentor. If you’re serious about freedom and you want to get someone who can just show you how. Well, subscribe to a FREE Magazine that’ll help you to create businesses that can work without you. SMS me NOW! OR Call a Rare Coach® Now! 234(0)8030868300, 234(0)8038270921 or Email: coachchudi@gmail.com

Chudi Onyemeri: is a license Business Freedom Coach of the World’s No.1 Business freedom Coaching firm, Rare Coaching Company, the company is responsible for helping Entrepreneurs create prosperous businesses that works without them. At age 21, he was an Associate Editor of one of Nigeria’s foremost magazine where he helped the magazine reached sales of over 50, 000 copies from just one of their many editions. Chudi was a Former Director of Fortunes Entrepreneurial School , an institution, which he and his friend, Tade Esan formed in 2006. Chudi has appeared on various media as a columnist Fast Company, Start-Up.com, Entrepreneur.com. He has a special passion for the preservation of human dignity.