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Globacom giant and brand strategist, Dr Mike Adenuga, has hailed the book, Nigeria's Marketing Memoirs written by Mike Awoyinfa and Dimgba Igwe of The Sun newspaper as "first class intellectual job."
Globacom giant and brand strategist, Dr Mike Adenuga, has hailed the book, Nigeria's Marketing Memoirs written by Mike Awoyinfa and Dimgba Igwe of The Sun newspaper as "first class intellectual job."
In a letter to the authors whose book would be launched May 16, 2006 at The Nigerian Institute of International Affairs, NIIA, Lagos. Dr. Adenuga says the book "represents a major worthwhile initiative which should become a must read for Nigerian students, business and government officials as well as all other people interested in the business/marketing landscape of Nigeria."
He continued: "You are indeed to be congratulated for having the foresight and deploying the resources to establish a veritable business reference tool which cannot but help to promote the cause of doing business in Nigeria."
Dr. Adenuga is one of the 50 Nigerian marketing gurus whose marketing memoirs were featured in the 938-page book.
In it, Adenuga was hailed as the man who changed the face of GSM in Nigeria with the marketing company that led to the introduction of the per-second billing system which the competitors said was impossible to accomplish in Nigeria, except in future.
Awoyinfa and Igwe wrote:
'Adenuga's market entry strategy was not only to offer his airtime at a cheaper rate than the existing companies but also to offer the per-second billing, which the existing companies had claimed, was impracticable because of the great technological requirements".
The authors described Adenuga as a ‘courageous fighter' who did not shy away from taking on the market leader in a price war, which he won amidst thundering ovation from Nigerians.
"Nigerians instantly hailed the per-second billing system and the Globacom brand became an instant hero, shaking the market and causing disruptions and confusion in the camps of the competitors.
"With the force of an invading army, Globacom took the nation by storm, rolling on across the nation, backed by a blitz of powerful advertising and low-priced strategy."
In his first ever published memoir, Adenuga reveals the secrets of his success as a businessman with his tentacles spread into a diverse corporate empire which include oil, banking, telecommunications, construction and trading.
"I believe in hardwork," Adenuga says. "The secret of my success is hard work. Hard work and God's blessing. Any business I want to go into, I try to know the business, because without knowing the business, it is easy to be hoodwinked.
"To get into oil business, I had to go and understudy an oil company in the United States and learn about their operations. That meant going into the oil rigs with the engineers. I like to be familiar with the operational details of any business I am involved in."
Another business philosophy is that, "I believe in synergistic business, that is business that has direct linkages"