A telecoms entrepreneur and political economist, Dr. Ausbeth Ajagu, has called on telecommunications operators to consider the need for effective branding.
Speaking at a recent entrepreneurial conference, Ajagu noted that leadership is the ability to create rules, set goals, capacity to follow through and see that goals are accomplished.
"There is enough space for all products to sell, though depending on what the desire is. However, if the desire is to be the market leader, then the operator has to go the extra mile to subdue its competitors. Always remember that the market place is not meant for the chicken-hearted but the Lion-hearted, thus capitalism by default," he said.
He explained that the brand remained a powerful asset that must be carefully developed and managed, adding that "there are numerous characteristics of a good brand and the operator must screen the potential brand against all characteristics."
Listing some of the qualities of a good brand, Ajagu said operators must select the right branding strategy given their venture and the conditions under which they will compete.
"One of the most important tasks is to create and sustain brand equity. Brand equity provides you with a competitive advantage and allows you to command a premium price. It would also increase the value of business.
He stressed the need to also entrench the principles of Total Quality Management (TQM), meaning that the organisation's culture is defined by and support the constant attainment of customer's satisfaction through an integrated system of tools, techniques and training.