By Elvis Eromosele

In today’s economic landscape, uncertainty and volatility have become the norm. Businesses and

consumers find themselves trying to navigate uncharted waters, particularly in Nigeria, which is

grappling with economic instability, fluctuating inflation rates, and shifting consumer

Navigating these challenges requires a strategic approach that addresses immediate

concerns while building long-term resilience.

Many are encountering the true meaning of VUCA for the first time. VUCA, as defined by

TechTarget stands for volatility, uncertainty, complexity, and ambiguity—qualities that make

situations difficult to analyze, respond to or plan for.

To address these complexities and promote innovative and sustainable solutions,

MediaConsortium, a leading authority in brand, business, and marketing communications, is set

to host the second edition of its influential conference and awards. Scheduled for September 26,

2024, at the Lagos Chamber of Commerce and Industry (LCCI) in Ikeja, this year’s conference

the theme is “Meeting the Brands/Consumers’ Expectations in a Challenging Economy”

The theme underscores the critical need for brands and businesses to adapt their strategies in

response to evolving economic conditions. As inflation, fluctuating exchange rates, and shifting

consumer preferences shape the market, companies must align their offerings with the

expectations of their target audience. This challenge demands innovative solutions, strategic

guidance, and a deep understanding of consumer behaviour.

The conference will bring together industry leaders to explore strategies for navigating the

challenging economic landscape. It aims to spark insightful discussions and identify sustainable

solutions.

An impressive lineup of industry luminaries will share their expertise and insights. Mr. Yinka

Adebayo, renowned industry expert and Group Executive Director at Omnicom Media Group-

WECA will deliver the keynote address, offering invaluable perspectives on the evolving

consumer landscape.

A panel of seasoned professionals, including Adedotun Ajibade (Media & Insights Manager at Rite Foods), Dr. Dare Ogunyombo, Lecturer, Department of Mass Communication, Olabisi

Onabanjo University, Ago Iwoye, Ogun State and Chineze Amanfo (Communications Lead at

9mobile), will provide diverse viewpoints and practical strategies.

Morolake Omokpaire, Marketing Director at Cadbury, will present a paper on the challenges and

opportunities facing brands in the current economic climate. The conference agenda is designed

as a hands-on capacity-building session for business executives.

The MediaConsortium Conference/Awards will address critical industry issues, including

economic uncertainty, changing consumer behaviour, and supply chain disruptions. By

promoting open dialogue and knowledge sharing, the event aims to equip attendees with the

tools and insights needed to thrive in a dynamic market.

According to Adetunji Faleye, Co-convener, “For brands, maintaining relevance in a challenging

economy involves a nuanced understanding of evolving consumer needs. In Nigeria, where

economic disparities are pronounced, brands must tailor their approaches to address diverse

consumer segments.” He added that the MediaConsortium Conference/Awards will be a crucial

platform for sharing knowledge, celebrating achievements, and setting new standards for

consumer and brand interactions.

Faleye also called on potential sponsors and participants to engage in the days ahead. He argued, “By attending the MediaConsortium Conference/Awards, you will join a community of industry

leaders dedicated to driving positive change and building a more resilient and prosperous future

for brands and consumers.”

Following the conference, the awards ceremony will recognize brands and businesses that have excelled in meeting consumer expectations despite economic challenges.

The MediaConsortium Conference/Awards will focus on innovative solutions, sustainable

practices, and effective guidance to help businesses and consumers thrive in uncertain times.

Attendees will gain valuable insights and practical strategies to drive growth and enhance the

consumer experience.

If this conference achieves anything, it will help brands understand what it takes to thrive in

turbulent times. See you at the MediaConsortium Conference/Awards!