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Group Task
Analyse the creative industries in Nigeria with a view to highlighting successes, prospects, challenges and recommendations to relevant stakeholders on way forward for sustainable growth
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Creative Entrepreneurs
As a creative person in business, you have your own unique creativity, your ambition about what you want your enterprise to become, and your own ideas about what success means to you. Creative entrepreneurs blend creativity with smart business thinking Successful creative entrepreneurs embrace both creativity and business. David Parrish, author of T-Shirts and Suits: A Guide to the Business of Creativity
BUSINESS OR HOBBY?
Success for your creative enterprise may include a range of factors in addition to financial reward, such as fulfilling creative ambitions, staying true to personal values, and gaining recognition for your work. Each enterprise will combine these and other ingredients differently to create their own particular definition of success. The challenge for you as a creative person when planning and developing a business is to combine creativity with the best business ideas, so as to turn creative talent into income streams. Crucially, this is not a matter of making a compromise between creativity and business its a matter of getting the best of both worlds. Success means different things to different people, so as a creative entrepreneur you need to be clear about your own definition of success. In other words, you must be clear about where you are planning to go. (Business Link UK publication)
Business Plans
The paradigm in the music business has shifted and as an artist and a businesswoman, I have to move with that shift. (Madonna - Recording artist and entertainer) The best business plans are useful documents which become a route map or pocket guide to help you on your journey to success. The best business plans provide milestones and measures of success, so that progress can be tracked as the business develops. These key performance indicators (KPIs) measure the most important aspects of the companys performance and are the business equivalent of a cars dashboard, providing the driver with essential real-time information.
Strategic Planning
Strategic planning involves using your head as well as your heart, using left-brain logic as well as right-brain intuition, to steer your creative passion in the direction of business success. Creative talent does not automatically deserve business success, so you need to assess all your creative options to decide which are likely to be the most feasible in business terms. To be creative as an amateur with no requirement to make money provides opportunities for infinite artistic freedom. However, once you take your creative talent into the commercial arena, you will have to deal with two major factors competitors and customers. The late May Nzeribe taught me a lesson once on getting paid for ideas at a clients meeting
2 3
Local and global linkages, networking, affiliations Continuous improvement through skills development, training etc
(1)How are the individuals/firms listed above positioning themselves? (2)Give evidence of such positioning strategies (3)What is your view of the success/failure of such positioning strategies (4) Suggest alternative strategies
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27
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CREATING COMPETITIVE ADVANTAGE The Use of Out-of-Home Advertising Media Uche Nworah FRIDAY NOVEMBER 23RD 2012
Out-Of-Home Media
Out-Of-Home media, also known as OOH media refers to advertising media which are hosted on platforms outside peoples homes and offices. They can be seen at shopping malls, recreation parks, and on major highways and roads displaying clients advertisements. Such advertising are targeted at particular audiences, usually mobile or transit target publics with the aim of achieving distinct advertising objectives.
Reach of Media
2010
2011
TOTAL SPEND ( Billion) = 28.1
4452 3932
4648 4191 3158 2567 1777 742 1132 2027 1782 1002 1034 671 923 1276
3000
2000 1000 0
M.T.N
GLOBACOM
1345
1098
GUINNESS NIGERIA
AIRTEL
ETISALAT
Source : MMS
NIGERIAN BREWERIES
0% 200 9
31%
40%
14%
15%
N 43.1b
201 0
41%
29%
13%
17%
N 97.5b
201 1
45% TV Outdoor
27% Radio
13% Press
15%
N 102.8b
GANTRY
BRIDGE PANEL
WALL PANEL
LAMPPOSTS
UNIPOLE
WALL DRAPES
MEDIAN LITEBOXES
BUS SHELTERS
ROOFTOP BILLBOARD
CHALLENGES
Market weariness Regulatory issues (e.g NCC and the recent ban on consumer promos) Issues of believability etc
A platform for communicating the brands messages Used to position the brand as dominant in the minds of the audience through the rentals and acquisition of big stature boards Used in supporting sales at the street level Deployed to drive brand penetration
Group Task
As the National Manager of OOH Media in a leading telecommunications company in Nigeria, you have received the mandate of the Board to initiate the process of renting back-lit lampposts nationwide for advertising. Bearing in mind the importance of using this street level OOH platform in creating competitive advantage, outline (a) How you will go about this project (b) what major factors to bear in mind in selecting the locations (c) The challenges you encounter (d) The time frame the nationwide roll-out will take (e) Make suggestions to management on critical success and other factors concerning the companys use of lampposts and other OOH platforms
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The definition of a Lovemark is a product, service or entity that inspires Loyalty Beyond Reason Saatchi &
Saatchi
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GROUP ACTIVITY
Prepare a presentation to the whole class focussing on the following: BLUE TEAM: Plans of showcasing the creative industries in Nigeria through an annual Creative Day to convince decision makers to take practical steps to support these industries YELLOW TEAM: Establishing a foundation in support of creative industries in Nigeria GREEN TEAM: improving the profile of creative industries and help them turn into a factor within the local economic and social environment. RED TEAM: Developing awareness of the creative sector by proving/showing to policy makers the potentials ORANGE TEAM: Creating awareness of the socio-economical importance of the creative industries in Nigeria GREY TEAM: Map a particular city's creative industries and develop strategy for promoting the creative industries through media campaign.
Group Work
Read the case studies provided and suggest ways in which the firms are sustaining their competitive advantage Make recommendations on how to further strengthen the businesses competitiveness