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Saturday, June 15, 2024

‘Prioritize Data To Meet Consumer Demands’

Gideon Raji

 

Chief Executive Officer of Global Ovation Limited, Gideon Raji, has urged manufacturers to adopt a data-driven approach as a key enabler in meeting consumer demands and wants in the ever-changing sector.

Speaking with journalists at this year’s Fast-Moving Consumer Goods (FMCG) Summit and Awards, Mr. Raji highlighted the need for manufacturers to prioritize data information in understanding consumer needs and demands as it enables them to make informed decisions.

This, he said, may lead to increased customer satisfaction, loyalty, and ultimately, revenue growth.

Mr. Raji further indicated that data-driven approaches also help manufacturers to identify market trends, optimize production processes, and reduce waste.

“With consumers, you cannot predict them so you will need to embark on a lot of research and conduct a lot of surveys to make sure that you understand your consumers. Once you understand your consumers you can meet their demands,” he said.

He added that by leveraging data, manufacturers can create personalized products, improve quality, and stay competitive in a rapidly changing market, driving business success and long-term sustainability.

“Data provides valuable insights into consumer behavior, preferences, and pain points, allowing manufacturers to design and produce products that meet specific needs.”

Speaking about price fluctuations of commodities which have reduced the purchase of goods, Mr. Raji attributed this to the performance of the local currency against the dollar which has affected businesses.

FMCG Summit and Awards organized by Global Ovation Limited under the theme, “Driving Growth and Innovation: Navigating Ghana’s Digitalisation Agenda In A Recovery Economy”.

Panelists who deliberated on the theme included Managing Director, MediaReach OMD Ghana, Taniya Mondal, Managing Principal, Maverick Research, Ato Micah, Associate Professor, University of Ghana, Business School Kobby Mensah (PhD) and Commercial Director, Promasidor Ghana, Abiodun Ayodeji.

BY Prince Fiifi Yorke

 

 

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