• Home
  • About Us
  • Contact Us
Tuesday, October 3, 2023
Star Lite News
  • Home
  • News
    • All
    • Business
    Dunamis Church

    Pastor Dead As Dunamis Church Collapses In Benue

    Independence anniversary

    FG Declares Monday Public Holiday To Mark Her 63rd Independence Anniversary

    Sam Larry

    Breaking: Sam Larry now in police custody

    Wema Bank

    Moruf Oseni’s Wema Bank, Lagos family fight dirty over property

    Muhammad Nami-FIRS

    Moruf Oseni’s Wema Bank, Lagos family fight dirty over property

    Nigeria Passport

    Immigration Cleared 60,000 Passports Backlog In 4 days, Says FG

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Entertainment
    Nuel Asii

    New Release: Rescue by Nuel Asii

    Senator

    Senator To Meet Cycling Davido’s Fan, Pledges To Sponsor His Music Career

    Sinead O’Connor’s

    Irish Singer Sinéad O’Connor Dies Aged 56

    Davido

    U.S City Declares July 7 As Davido Day

    Iyabo Oko

    Veteran Nollywood Actress, Iyabo Oko Is Dead

    Al Pacino

    Al Pacino, 83, Set To Become Father Again After Revealing Girlfriend, 29, Is Pregnant

  • Lifestyle

    MKH staff celebrate Chairman’s Mother as she clocks 66…

    Trending Tags

    • Golden Globes
    • Game of Thrones
    • MotoGP 2017
    • eSports
    • Fashion Week
  • Business
  • Politics
  • World
No Result
View All Result
  • Home
  • News
    • All
    • Business
    Dunamis Church

    Pastor Dead As Dunamis Church Collapses In Benue

    Independence anniversary

    FG Declares Monday Public Holiday To Mark Her 63rd Independence Anniversary

    Sam Larry

    Breaking: Sam Larry now in police custody

    Wema Bank

    Moruf Oseni’s Wema Bank, Lagos family fight dirty over property

    Muhammad Nami-FIRS

    Moruf Oseni’s Wema Bank, Lagos family fight dirty over property

    Nigeria Passport

    Immigration Cleared 60,000 Passports Backlog In 4 days, Says FG

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Entertainment
    Nuel Asii

    New Release: Rescue by Nuel Asii

    Senator

    Senator To Meet Cycling Davido’s Fan, Pledges To Sponsor His Music Career

    Sinead O’Connor’s

    Irish Singer Sinéad O’Connor Dies Aged 56

    Davido

    U.S City Declares July 7 As Davido Day

    Iyabo Oko

    Veteran Nollywood Actress, Iyabo Oko Is Dead

    Al Pacino

    Al Pacino, 83, Set To Become Father Again After Revealing Girlfriend, 29, Is Pregnant

  • Lifestyle

    MKH staff celebrate Chairman’s Mother as she clocks 66…

    Trending Tags

    • Golden Globes
    • Game of Thrones
    • MotoGP 2017
    • eSports
    • Fashion Week
  • Business
  • Politics
  • World
No Result
View All Result
Star Lite News
No Result
View All Result
Home Business

Dangote Beats MTN, Globacom, Banks To Emerge Most Valuable Brand In Nigeria For 6th Consecutive Year

starliteadmin by starliteadmin
August 24, 2023
in Business
0
Dangote
0
SHARES
0
VIEWS
Share on FacebookShare on WhatsAppShare on Twitter

Dangote Industries Limited has emerged as Nigeria’s most valuable brand for the sixth consecutive year. This achievement was confirmed by the brand and marketing firm, TOP 50 BRANDS NIGERIA, as part of its comprehensive 2023 Top Brands perception assessment.

Winning the award for a record 6th time confirms the foremost African indigenous Conglomerate’s unwavering dominance of the domestic brand space.
TOP 50 BRANDS NIGERIA, is a qualitative, non-financial evaluation of top corporate brands in the country. The annual top brands league table which has become like a report card, with which top corporate brands have a feel of their ranking in the market is done with a special purpose model, the Brand Strength Measurement (BSM Index).

The rating firm in a statement said that Dangote got an impressive aggregate score of 86.2 on the Brand Strength Measurement (BSM) index, reinforcing its position at the forefront. The score reflects the consistent excellence of the brand.

MTN remains a strong contender, securing a close second place with an 85 BSM index score. This year’s third and fourth positions are secured by Airtel Nigeria and Globacom, both with BSM index scores of 77.9 and 77 respectively. Interestingly, this reaffirms the prominence of telecom brands, with three out of the top four hailing from this sector. Among the Top 10 brands are Access Bank, Zenith Bank, Coca-Cola, GTCO, and First Bank, Globacom was adjudged the Most Popular Brand following the outcome of a Top of Mind (TOM) Survey, where respondents mentioned 10 brands that came to their mind or that they could easily recall.

This year’s survey had as respondents Chief Marketing Officers and Head of Corporate Communications of major companies across the land.

TOP 50 BRANDS NIGERIA announcing the ratings said, “this annual top brand evaluation provides a qualitative, non-financial assessment of the value of leading corporate brands in the country. It gauges consumers’ perceptions of brands and their impact on overall brand strength, using the Brand Strength Measurement (BSM) index – a model designed to assess a brand’s ability to deliver on its promises from the consumer’s perspective.”

In today’s market, brands have woven themselves into the fabric of our daily lives, from dawn to dusk and even in every consumer choice. This phenomenon is amplified by the rise of concepts like consumer awareness, differentiation, and the dynamics of the global economy, making brands pivotal actors.

Chief Executive Officer of TOP 50 BRANDS NIGERIA Taiwo Oluboyede, speaking on the outcome of this year’s evaluation, likened brand to a person. He said, “A brand is like a person with all the traits that define his/her personality to the audience. When you hear someone’s name, you are likely not just going to remember their faces or apparel, but who they really are and what they mean to you.”
“Someone may claim to be the best man in the world, and could even go as far as doing paid advertising to attract attention. However, the real description of the person to you is your experience. Perception about a person could change from like to dislike or the other way round, the same is also true for a brand. That is why promoters go the extra length consistently remain in the target audience like-list” he added.

He elaborated that the onus lies with brand owners and promoters to uphold compelling propositions and consistently deliver on promises.

“It’s not just about making pledges anyway; it’s about steadfastly living up to them – a commitment that separates the top brands from the rest,” he stated.

A breakdown of the 2023 evaluation report indicated that Nigerian-owned brands continued to shine among the top 10, with 10 brands. These are Dangote, Globacom, Access Bank, Zenith Bank, GTCO, and  First Bank.

Five of the top ten brands are Banks, while three are Telecoms. Impressively, 9 of the 10 were among the top 10 last year, while 4 maintained their previous position. Airtel Nigeria made a remarkable ascent to third place. Also, six brands have consistently maintained top 10 positions for a remarkable 7 years in a row.
Overall, 26 or 52% of the 50 brands are multinational, while 24 or 48% are Nigerian brands.
Rite Foods Limited stands out as the highest gainer this year, leaping 14 places from 46th to 30th. Notably, Wema Bank makes a noteworthy debut in the annual brand ranking. Furthermore, nine brands maintained their 2022 positions, they are Dangote, MTN Nigeria, GTCO, First Bank, Multichoice, Fidelity, Toyota Nigeria, FMNPLC, and AXA Mansard.

A breakdown of the report indicated that Banking Services, as usual, had the largest entries with 12 entrants, representing 24% of the total. Access Bank topped the category. This is followed by Consumer Goods with 9 brands, that is 18%, with Dufil Prima Foods leading the charge.
The Conglomerates category has 6 brands, making up 12%, with Dangote Group on top. The Oil and gas, Beverages, and Telecom sectors each contribute 4 brands, with Oando, Coca-Cola, and MTN leading their respective categories.
The Insurance sector has 3 brands, with AIICO at the forefront. Meanwhile, the Building & Construction Services, Media, and Electronics categories had 2 brands each, featuring Julius Berger, Multichoice, and Tecno Nigeria leading their respective categories.

Automobile, Agricultural, and Aviation/Logistics sectors had 1 brand each -Toyota Nigeria, Olam International, and Air Peace.

Of note in the report also is a class called Brands to Watch, a set of 10 brands that have shown some level of vibrancy in recent times and are gaining momentum in consumer acquisition with the possibility of achieving the 50 top Brands League Table in few years. It should be noted that, while these brands have considerable mentions in the TOM survey, they were not strictly subjected to the rigorous BSM evaluation.

Tags: Chief Executive Officer of TOP 50 BRANDS NIGERIADangote Industries LimitedMost Valuable Brand In Nigeria For 6th Consecutive YearStarlitenewsTaiwo OluboyedeTOP 50 BRANDS NIGERIA
Previous Post

Tobi Amusan Wins Semi Final Heat, Qualifies For Final At World Athletic Championship

Next Post

Platform Capital Chairman, Dr. Akintoye Akindele Is Innocent Of Allegations By The Late MKO Abiola Family

starliteadmin

starliteadmin

Related Posts

Polaris Bank

Polaris Bank Celebrates Customers And Staff On Customer Service Week

by starliteadmin
October 3, 2023
0

Polaris Bank, in commemoration of the 2023 Customer Service Week, is celebrating its customers and staff for their patronage and...

Access Bank

Access Bank Establishes Dedicated Desk To Enhance Agric Lending

by starliteadmin
September 28, 2023
0

Access Bank Plc has launched a dedicated Agriculture Desk that would support agribusiness and boost food security in Nigeria as...

Dangote Cement

Empowerment: Dangote Cement Ibese Sponsors 17 Host Communities Youths On Leadership Skills

by starliteadmin
September 28, 2023
0

As part of its Corporate Social Responsibility (CSR) towards empowering residents of its host communities, Dangote Cement Plc, Ibese Plant...

Dangote Cement

Dangote Cement Plc’s Management Roadshow at the London Stock Exchange

by starliteadmin
September 26, 2023
0

L-R: Head, Investor Relations, Dangote Cement Plc, Temilade Aduroja; Non-Executive Director, Dangote Cement Plc, Olakunle Alake; Independent Non-Executive Director, Dangote...

First Bank

FirstBank Sponsors Africa International Trade Exhibition, New York, Promotes Foreign Direct Investment in the Continent

by starliteadmin
September 25, 2023
0

First Bank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services provider, sponsored the Africa International Trade Exhibition (A.I.T.E...

Dangote Cement Prirce

Dangote Debunks News Reducing Cement Price

by starliteadmin
September 25, 2023
0

Dangot Debunks News Reducing Cement Price. Dangote Cement Prirce

Next Post
Dr. Akintoye Akindele

Platform Capital Chairman, Dr. Akintoye Akindele Is Innocent Of Allegations By The Late MKO Abiola Family

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Popular Posts

  • A Day With Legends of Nollywood

    Legends of Nollywood Financial Summit Is Here, Meet The Speakers: Apostle Anselm Madubuko, Mrs. Bukola Agbaminoja, Pst. Moji Bakare Asieru-sweet, Others

    0 shares
    Share 0 Tweet 0
  • RECRA 2023 Host Gov. Babajide Sanwo-Olu, Bldr. (Dr.) Abdulhakeem Odegade, Paul Obazele, Other Eminent Personalities

    0 shares
    Share 0 Tweet 0
  • Akmodel M.D. Bldr.(Dr.) Odegade, Mr. Olajide Lawal, Nancy Isime, Others Receives Award At Eko Heritage Awards (Photos)

    0 shares
    Share 0 Tweet 0
  • M.D Of AKMODEL GROUPS, Bldr. (Dr.) Odegade, Paul Obazele, Favour Benson, Mrs Janet Mordi (M.D Zekod Farms LTD.) Mr. Ralph (Viju Industries), Others Attends RECRA 2023 (Photos)

    0 shares
    Share 0 Tweet 0
  • Akmodel First Physical Allocation At Akmar Flourish Gardens Epe (Photos)

    0 shares
    Share 0 Tweet 0

Recent Posts

  • Pastor Dead As Dunamis Church Collapses In Benue
  • Polaris Bank Celebrates Customers And Staff On Customer Service Week
  • FG Declares Monday Public Holiday To Mark Her 63rd Independence Anniversary
  • AKMODEL Homes And Properties To Launch Mega Double Estate Tagged: Unveiling The Box Of Your Luxury
  • Breaking: Sam Larry now in police custody
Starlite news icon

Browse by Category

Archives

  • Home
  • About Us
  • Contact Us

© 2022 | Crafted with ❤ by Claridan - Adsvance Digitals.

No Result
View All Result
  • Contact Us
  • About Us
  • Business
  • Politics
  • World
  • Entertainment
  • Lifestyle

© 2022 | Crafted with ❤ by Claridan - Adsvance Digitals.