Infinite Repositions Market Research to Grow Nigeria’s FDI
- By Abimbola Tooki
- Published June 21st, 2010
- News
- Unrated
INFINITE Insight, Nigeria’s first specialist market research and insight agency, is to reposition Nigeria’s market research industry to enable the country achieve increase in its foreign direct investment.
According to Tosin Ogunkunle, managing director of Infinite Insight, Nigeria, as one of the fastest growing economy in the world with a projected increase of no less than 10 per cent foreign direct investment for 2010, will require impeccable market insight to sustain its growth, if it truly seeks to consolidate its leadership position in Africa.
Ogunkunle said Insight has designed a number of innovative research products and solutions to deliver on all these objectives.
He said the contribution of research to a nation’s development cannot be over-emphasised. The West African region’s $ 44 million currently trails South Africa’s $195 million in market research spend. Notably, Africa represents only one per cent of global market research turnover of $291 million, according to Esomar Industry Report 2010.
As the markets tend more toward openness and governments embrace democratic values, Ogunkunle said both the private sector and governmental agencies will require strategic insights to beat competition and to deliver policies that work, in order to grow and succeed.
“Similarly, under our current political dispensation, politicians running for office or seeking to be effective in office would also have no other credible alternative but to employ cutting-edge research to fine tune their policies and campaigns, and as a vehicle for listening closer to the needs and aspirations of their constituents,” he said.
Ogunkunle noted that the company’s entry into the market research industry is marked by a period when other organisations seek global alliances; where local and regional agencies jostle to gain support and endorsement from international ones, either due to the inability to transform themselves in keeping up with the incredible speed of the markets or simply, the lack of innovation. The inability of a firm to innovate will undoubtedly compromise its competitiveness.
However, “we aim to reverse this trend by putting innovation at the heart of our business philosophy,” he said. “We are seasoned professionals with an excellent track record of delivering infinite insights to blue chip clients all around the globe who are exceedingly passionate at the prospects of transferring this wealth of experience, exposure and expertise, in finding a truly unique solution for Africans.”
According to Tosin Ogunkunle, managing director of Infinite Insight, Nigeria, as one of the fastest growing economy in the world with a projected increase of no less than 10 per cent foreign direct investment for 2010, will require impeccable market insight to sustain its growth, if it truly seeks to consolidate its leadership position in Africa.
Ogunkunle said Insight has designed a number of innovative research products and solutions to deliver on all these objectives.
He said the contribution of research to a nation’s development cannot be over-emphasised. The West African region’s $ 44 million currently trails South Africa’s $195 million in market research spend. Notably, Africa represents only one per cent of global market research turnover of $291 million, according to Esomar Industry Report 2010.
As the markets tend more toward openness and governments embrace democratic values, Ogunkunle said both the private sector and governmental agencies will require strategic insights to beat competition and to deliver policies that work, in order to grow and succeed.
“Similarly, under our current political dispensation, politicians running for office or seeking to be effective in office would also have no other credible alternative but to employ cutting-edge research to fine tune their policies and campaigns, and as a vehicle for listening closer to the needs and aspirations of their constituents,” he said.
Ogunkunle noted that the company’s entry into the market research industry is marked by a period when other organisations seek global alliances; where local and regional agencies jostle to gain support and endorsement from international ones, either due to the inability to transform themselves in keeping up with the incredible speed of the markets or simply, the lack of innovation. The inability of a firm to innovate will undoubtedly compromise its competitiveness.
However, “we aim to reverse this trend by putting innovation at the heart of our business philosophy,” he said. “We are seasoned professionals with an excellent track record of delivering infinite insights to blue chip clients all around the globe who are exceedingly passionate at the prospects of transferring this wealth of experience, exposure and expertise, in finding a truly unique solution for Africans.”
