PRESS RELEASE

Monday, November 24, 2008

Guaranty Trust Bank sponsors Buyology Symposium, seeks consumer-centered culture

Recently, Guaranty Trust Bank plc demonstrated its resolve to remain a proactive institution when it gave Nigeria’s brand marketing and advertising sectors an added edge by sponsoring the Buyology symposium which had Mr. Martin Lindstrom – a world acclaimed branding expert and author of Buyology as the resource person and facilitator.

B uyology is a chronicle of the results of a pioneering 3-year, $7million dollar Neuromarketing study that used the latest in brain technology to find what drives the buying decisions of consumers and ultimately, the brand.

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Before now, not many knew who Lindstrom was, or what Neuromarketing is and how it is rewriting the rules of marketing, purchasing power and branding as we know it. However, through what a participant called “GTBank’s magnanimity”, stakeholders were updated on the phenomenon of Neuromarketing and its potential as a tool for building and maintaining super-brands.

Mr. Lindstrom sits on several boards globally, and his clients include Disney, Pepsi, LEGO, American Express, Mercedes-Benz, Reuters, McDonald's, Kellogg's and Microsoft. His book Buyology has been translated into over 25 languages.

Undoubtedly, his wealth of knowledge, which world-class brands daily exploit with outstanding results, would have remained obscure in these parts until Guaranty Trust Bank granted a cross-section of Nigerians the opportunity of an afternoon with Lindstrom at the Lagoon Restaurant, Lagos.

Present at the seminar to hear Lindstrom introduce a new perspective to corporate branding were university undergraduates, marketing and advertising professionals from the banking industry, as well as other arms of corporate Nigeria. They were joined by top management staff of Guaranty Trust Bank led by the Managing Director and CEO, Mr. Tayo Aderinokun.

Speaking at the occasion, Mrs. Lola Odedina, Deputy General Manager, Guaranty Trust Bank stated that the rationale behind the Buyology symposium was inspired by a broader perspective: “our bank is committed to resonating with the Nigerian people through consistent intellectual empowerment programmes. We aim to create brand consciousness amongst service providers and the customer, as doing this will bring about a healthy consumer-centered society.”

In his remarks, Mr. Chris Doghudje, Chairman, Advertising Practitioners Council of Nigeria (APCON) stated that the precedence of the customer was the focus of the Buyology Symposium as the book itself is the future of advertising as it efficiently charts a course for brand builders in identifying what is wanting or wanted in marketing strategies and campaigns.

Communication & External Affairs Group

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