#Finance

SMEDAN urges entrepreneurs on customer-friendly offers

By Francis Akinnodi

The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has emphasized the need for entrepreneurs to think customer as well as guide the enterprise into developing offers that are meaningful and attractive to customer.

Ondo State manager of SMEDAN, Prince Tomi Ikuomola said market oriented thinking is a necessity in today’s competitive economy.

He noted that entrepreneurs must be aware of the nature of market demand and of changes that occur in it: the nature of market demand and ability to supply effectively with profitability a driving force.

Ikuomola said the agency would continue to provide all necessary guides for businesses to thrive in Ondo State as a means of improving the economy status of the state.

He said developing and maintaining an effective and efficient marketing mix is the basis for having a strong marketing strategy.

According to him, that is the aim of One Local Government One Product training (OLOP) of the agency.

“It would provide functional knowledge and skill upgrade to entrepreneurs.”

He said OLOP emphasizes bottom-top development approach and the expected value-addition is achieved through processing using modern production technologies, quality control through relevant certifications and product branding for domestic and foreign market.

He said, “under the scheme, a participating community or cooperative may focus on one products for which it enjoys comparative advantage.

“OLOP is about using local resources to create high value-added products. Such local resources are the driving force in OLOP.”

The SMEDAN manager noted that the communities are challenged to create products that may be developed into globally marketable products. It is about the participation of local communities in the economic fortunes of globalisation.

“It would facilitate regional development based on local creativity and decision making. It would also cultivate resourcefulness among local people.”

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