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Home Blog Page 6820

Beyond Quality – Understanding Product Minimum Viable Quality (MVQ) with Pricing

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There was this conversation on my LinkedIn update on Tecno winning a 2019 phone of the year award.

Comment: Tecno took down Samsung according Prof. But Tecno remains China fake phone. You buy Tecno of 40k compare to Samsung of 70k but Samsung will like for 10 years while Tecno just 2 years. There is no way Samsung is being compared to Tecno in terms of quality. Tecno is a business strategy of China, forget the standard, push it in African market, where standard organisation doesn’t exit. There is secret behind Chinese fake phones that people don’t know. If standard organisation is working in Nigeria for instance Tecno will not enter Nigerian market.

My Response: Ben – you need to read this piece; Minimum Viable Quality (MVQ). https://www.tekedia.com/mastering-chinas-minimum-viable-quality-mvq-strategy/ . You are totally off in your imagination that because Tecno is affordable that it is “fake”. In Walmart, you can get a toy car for $10. If you walk further, there are places they sell toy cars for $2,000. That a working mom decides to give her child $10 toy while Prince Harry buys the $2,000 toy does not diminish the makers of $10. That $10 car can last for 24 hours while the $2k can go on for 5 years. But moms are smart to make the call.

You have agreed that Samsung is more expensive because maybe it offers higher quality. But some people just need phones. In your home, I know you will prefer an electric bulb that costs say N350 ($1) but can last for 3 months than the ones used in airport towers that can go for $4,000 but can last for 15 years.

This is strategy – give Tecno respect

Minimum Viable Quality (MVQ)

I wrote a piece on MVQ to help on understanding quality and pricing.

The deal is this: the construct of quality has no meaning until the price of the product is put into considerations. I always ask entrepreneurs to build for the Minimum Viable Quality (MVQ) bounded by the product target price which market will respond. You can build rockets to fly around the world: that is an engineering possibility. But does that make a business sense if no one can afford it? Ask the makers of Concorde for answers.

You can make an electric bulb like the ones used in airport towers that can go for 15 years costing $4,000 each. But people still will want the $1 that can last for 6 months.

A mom buys a $10 toy car even though Prince Harry goes for $2,000 toy car. It  is an illusion to compare the quality of that $10 car and the $2,000 one. Yet in markets, the $10 will win.

Minimum Viable Quality (MVQ) is important. Do not think Toyota cannot make cars as rugged as Mercedes Benz. Comparing quality without the constraints and bounds of price is an illusion.

This is my response to the debate on smartphone quality to help deeper insights..

Mastering China’s Minimum Viable Quality (MVQ) Strategy

France’s CANAL+ Group Acquires ROK, the sister company of iROKOtv

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This is a good one – there are many shades of exit now. The music streaming business did not work out well. But the empire of Jason Njoku and his wife will have a really good Christmas party. Yes, France’s CANAL+ Group has bought ROK, the film studio and international TV network in that digital conglomerate. We will hope the French company will bring more money so that they will continue to expand in their movie making business. This is a win Nollywood as I expect them to have more resources to upscale the movies. Yet, I wish it was not outright purchase. Yes, investment would have been better so that Nigeria can keep part of that future growth gain! Of course, not for me to say!

Press statement below

ROK, the leading African film studio and international TV network, has been acquired by CANAL+ Group, comprising production, content distribution and publishing channels. As part of the transaction, IROKO Ltd will also take full control of the JV IROKO+, the #1 SVOD platform in French-speaking Africa. The move comes as CANAL+ Group looks to strengthen its content production reach in Nigeria and across Africa.

As part of the acquisition, ROK founder, Mary Njoku, will continue in a leadership role as Directeur General of ROK Productions SAS, and maintains a material shareholding in the company.

ROK will produce thousands more hours of Nollywood content to deliver movies and original TV series for CANAL+ Group’s audiences in FSA. As part of the acquisition, CANAL+ Group will continue to collaborate with IROKO Ltd, with non-exclusive content distribution of ROK content via the IROKOtv SVOD app.

ROK was incubated from 2013 onwards, by IROKO Ltd, the leading African digital content distributor for Nollywood content, whose flagship platform IROKOtv has transformed how Nollywood content is accessed and consumed around the world.

Speaking on the acquisition, Mary Njoku says, “ROK has captured the imagination of millions of movie fans, and they have truly supported us as we’ve grown the company to celebrate and enjoy our African culture. I’m excited to be taking our platform on the next stage of its journey with CANAL+ Group, who share our passion for creating original content, supporting new talent and together, we have ambitious plans for the future.”

Jacques du PUY, CEO of CANAL+ International says, “Through this acquisition CANAL+ Group is very happy to develop and enhance the catalogue of Nollywood contents and expand the ROK brand inside and outside the African continent.”

In Africa alone, ROK has produced over 540 movies and 25 original TV series, making ROK one of the most prolific production houses in Nollywood.

Tin Can Customs increases Q1’19 revenue by 4%

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By Oko Ebuka

The Tin-Can Island Customs of Nigerian Customs Service, NCS, has generated a total of N179.2bn in the first six months and ten days of 2019 as against N172.5bn collected in the corresponding period of 2018, representing an increase of about 4 percent.

According to the half year report from the command, signed by the Customs Area Comptroller, CAC, Comptroller Musa B.A., which was disclosed to Vanguard Maritime Report through the Command’s Public Relations Officer, PRO, Superintendent Customs Uche Ejieseme, showed that the Command has achieved 52.28 percent of their total annual revenue target.

In his comments, Comptroller Musa said that efforts to eschew bureaucracy and other barriers in trade value chain will remain the utmost priority of the Command.

According to him, “our ultimate aim is not just to key into the presidential directives on ease of doing business which is in line with world customs organization, WCO, Trade Facilitation Agenda but to be seen as being at the vanguard”, he said.

He further appreciated the efforts of various stakeholders playing important roles in ensuring that the policy on the ease of doing business becomes a thing of reality.

“The command would like to appreciate the support and collaboration of Partner Government Agencies such as Standard organization of Nigeria, SON, and National Agency for Food, Drugs, Administration and Control, NAFDAC, Nigerian Police Force, NPF, Quarantine, National Environmental Standard and Regulation Enforcement Agency, NESREA, Importers, Agents and other critical stakeholders including the press in this onerous task of nation building.

“The command wishes to reiterate its commitment towards realizing and even surpassing the revenue target for 2019 as we urge our esteemed stakeholders and officers to rise up to this challenge”, he concluded.

The Command also made a seizure of five 40 feet and four 20 feet containers respectively, with various items such as, cartons of tramadol, fairly used tyres and rims, bags of foreign rice, and other items with a total Duty Paid Value, DPV of N1.1bn.  

Where Eagles Dare! Flying Without Wings at AFCON 2019

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By Nnamdi O. Madichie

As at 11 July 2019, there were only four teams left in contention. The first to fourth will be known between them. They are Senegal (Teranga lions), Nigeria (Super Eagles), Algeria (The Foxes) and Tunisia (Carthage Eagles).

The Eagles have taken flight

On Sunday 14 July 2019 the Super Eagles were devoured by the Desert Foxes while the wings of the Carthage Eagles were clipped by the Teranga Lions.

Come Friday 19 July 2019, we could potentially see who wins the battle between the West and North – Africa’s perennial football power blocs.

The Teranga Lions are the only team that have yet to taste AFCON glory in the quartet. The “Super Eagles” have won it three times, while “The Foxes” and the “Carthage Eagles” have each won it once.

All Change Please?

FIFA Football rankings last updated 14 June 2019 places the  Confederation of African Football (French: Confédération Africaine de Football) ranking as follows:

  • Senegal (22)
  • Tunisia (25)
  • Nigeria (45)
  • Algeria (68)

This ranking is bound to change come Friday, 19 July 2019 as the sands shift under the feet of “The Foxes.”

Rising Above Underdog, Nigerian Public Universities as a Case Study

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By Ikwuka C. Franklin

The 2018 World Cup hosted in Russia saw many teams as underdogs, and others as the major contenders, even though it was difficult to predict the winners. Teams like Argentina with phenomenal Lionel Messi, Portugal with fans acclaimed GOAT (greatest of all time), Cristiano Ronaldo, Spain, Germany, and Brazil were the talk of the town but as the game progressed, these giant teams were seen crashing out by and before the round of 16.

While teams like Belgium with Eden Hazard, Romelu Lukaku, Kevin De Bruyne, and Croatia with Real Madrid’s Lukas Modric and Barcelona’s Ivan Rakitic and other wonderful performing teams rose up above the underdog team, and the unexpected France with the likes of N’golo Kante, Antoine Griezmann, and Paul Pogba, 20 years after their first and only triumph, made great strides towards the World Cup final after defeating Uruguay 2-0 in the quarterfinal, and finally won the trophy.

All these, took people in the team, personal and team efforts to achieve with determination to rise above underdog. But this is an aside to the story at hand.

In Nigerian Universities today, some schools are regarded the giants while others the underdogs. JAMB statistics on top first choice institutions yearly for the past 5 years has been almost the same with few or no changes.

In the eastern Nigeria, it is either University of Nigeria Nsukka generally, or FUTO once Engineering is the choice. While, University of Ilorin, Unilag, ABU Zaria, University of Ibadan, and OAU Ile-Ife are the giants outside the east.

These choices owe to capabilities, sizes, and past events which marked those universities as excellent. No one wants to be an underdog, no parents will love to see their children not excelling; hence, all wants to send their wards to the best institutions in order to bring out the best in them.

Personally, I chose University of Nigeria Nsukka (UNN) Medicine and Surgery, but behold JAMB, the almighty carrier changer as christened by we students, I scored 230. Of course it was not possible to secure admission in Medicine and Surgery with that score except you made over 350 in the post-UTME to secure a good average. Another year, I tried the same UNN with a JAMB score of 277; yet I was not admitted to study Electronic Engineering in the first list. I had to change my first choice of institution before the opportunity of changing choice of institution elapsed so as not to accuse my village people should my name fail to appear in the subsequent lists.

Glory be to God, I was admitted in the Electrical Electronic Engineering department of Chukwuemeka Odumegwu Ojukwu University(COOU) formerly known as Anambra State University (ANSU).

Before I started my studies in my present school, COOU, I have been on several lecture halls during my first post-UTME examination, and second trial at UNN; same with FUTO during visitations and as a student now. The lecturers are mostly the same, while some are dedicated, some are not, but generally, no lecturer breaks a student’s head to make him understand. The highest they could do is to attend to every question, issue lecture materials, invite you to office in case of further problems, while the rest lies on the student to read, reread, research on the topics treated.

I tend to wonder why students rush to these universities, afterwards loose admission that year, consistently trying with the belief that without that university nothing else stands. Some can stay for years, some gets at the next trial while some at the 5th and others may not get at all hence change or drop out for music, Yahoo Yahoo or other things out of frustration or lack of enthusiasm for education again.

On this regard, I advise every young Nigerian especially those still in secondary schools and their parents to rise above underdog beliefs. Inasmuch as we hope for the best, we can create the best ourselves if opportunity doesn’t come to attach ourselves to the already best. Inasmuch as we want to be a LION/LIONESS, FUTOITE etc, we can create name for any higher institution we find ourselves just like the assumed World Cup underdogs went farther than expected. The lecturers of some believed low ranking institutions were students of these universities at least.

For example, in 2012, The Nigerian undergraduates (christened The NUTA_BOLTS Team) who were then studying for various engineering degrees at the Anambra State University were Nigeria’s sole representative at the annual event whose 2012 series took place in Silverstone Circuit, Northampton, UK. Six other African universities (five from Egypt and one from South Africa) also participated in the competition that drew contestants from 222 universities around the globe. They finally won, writing Nigeria’s name in gold. Yes, students of Chukwuemeka Odumegwu Ojukwu University.

Presently, Students of Engineering, Chukwuemeka Odumegwu Ojukwu University, won Southeast zone CODET competition, and will be representing Southeastern Universities in the national level at Abuja by August this year. The giants competed also, but out of every competition, there must be a winner. Other school has been making giant strides in Nigeria despite position, sought after or not.

Everyone is rising above underdog; in different offices, schools, and competitions to write off any downgrading name.

I encourage the already giants to also keep on improving the efforts of their forebears and never relax on past glory for the competition is not just within us but our counterparts overseas, though, not competition, but efforts to collectively better the world.

In this piece, I want to make us understand that being an underdog is a product of choice, and it takes a choice to rise above it despite where you find yourself. Effort, little effort can make a great change.

Make an effort.