Knowledge or competency, business is a language every man even those absent formal education speak. Every man learning the art, harnessing the skills and plying his trade. The world has “innovated”, technology gradually churns away the barriers of trade and emerging is the globalized isle of business.
Welcome to the developing world, the market woman, her eyes gazing on naira signs, her hands pruned in the art of trade and her path lined with her wares. Education is not a barrier and survival is the drive. It’s time to make some money and off she goes.
Lagos, the commercial capital of Nigeria, welcome to the city of opportunity, hopes and dreams. Everyman to the hassle, it’s a new day, traffic is the natural order, i-rate drivers showcasing their art of curses, everyman eyes open, his bag of madness in one hand ready to “shewere” for any “bagger”.
To the market I go with my long list of desire ready to prune my negotiation skills which every Nigerian is born with; the market, the perfect scenery for expression. My long list of desire sticking out with expectation as I pounce on the muddy waters splashing with joy, fumes and noise, the beautiful aura filling the air. My first stop, time to put my negotiation skills to the metal, and up and down the price goes, N800, N700, N600, N700, Last price…, my favorite part of negotiation; N750. The seller makes way to do her magic, and I am aroused with curiosity. Our conversation goes thus:
Me: Madam, hope market dey move (speaking in pidgin tongue)
Market Woman: My brother! Market just dull and customers no too dey like before.
Thought: The Market woman’s definition of market is her goods. She has identified a trend of declining sale.
Me: Ah! Wetin happen. (Asking with curiosity)
Market Woman: Things don cost! And na the situation wey dey we country dey cause am. No light, no fuel and transport don cost.
Thought: She shows awareness of economic realities and the price sensitivity of consumer goods.
Me: Hope people still dey buy your market?
Market Woman: Before! Man must chop. Dem dey complain about the price but dem still dey buy.
Thought: She has good knowledge of her goods and has been able to maximize that knowledge by identifying that she sells “necessity goods”. She also knows that demand for those goods will always remain unitary regardless of externalities. Lastly, she is customer sensitive and takes feedback which she uses to inform her decisions.
Me: So you still dey make money like before from your market?
Market Woman: No be so e be! I don increase my prices sha so I still dey make enough money but no be like before.
Thought: She is responsive! She stays profitable by responding to market realities and reflecting that in her prices.
Me: If things change nko?
Market Woman: As you were. Kia kia I don change my prices, so I no go lose customers.
Thought: She understands customer sensitivity to price and she will reflect current market realities in her prices so as not to lose demand.
Me: Ok! Madam, na God go save us for this country.
Market Woman: My brother , there is God o!
Our discuss ends in expression of hope, we exchange pleasantries and am off ticking my list as I made purchase of each item. I eventually exhaust the list and am heading out of the market. The sun is at its peak, shining brightly and scorching deeply. As I move quickly I stumble on a hawker selling handkerchiefs. We strike a small discussion;
Hawker: Oga! You dey sweat seriously.
Me: My brother you no see the sun.
Thought: He identifies my need.
Hawker: Yes o! So which colour you want
Me: That brown one (pointing)
Me: How much?
Hawker: N200
Me: What!!! On top wetin (I pretend to leave)
Hawker: Oga wait wait, how much you wan pay
Thought: He sets the part for a negotiation. He understands the value of customers.
Me: N100
Hawker: Oga add something, things don cost for market.
Thought: He is in tune with current market realities and wants to strike a good deal.
Me: N120
Hawker: (hopelessly looking) Oya! Bring it.
Thought: He believes he has been able to get a better deal that covers his product cost of N70 and a profit of N50.
Me: So people dey buy market? (I ask)
Hawker: Oga mi! Yes o! You no see the hot sun, customers’ “booku”. This market wey I dey sell na the thing wey dey move plus you this place wey I stand, na strategic position. You see say na the gate of the market , so everybody wey enter or commot dey see me.
Thought: Hmm… strategic positioning he says (very thoughtful). He shows he understands the act of making sales. He has not just identified there is a demand for his good but he has also placed himself at a point where he can be identified by potential customers.
Me: You sharp o!
Hawker: Oga mi! Na why dem dey call me Smart!
We both burst into laughter.
Me: so when this market finish, wetin you go do?
Hawker : I go go buy another one or look for another market wey dey move.
Thought: He is ready to reflect market trends in his offerings. So a change in consumer taste and preference would be reflected in a new product offered.
I smile and bid him farewell and out of the market I go. As I head home I am confounded by the informed decisions these people took. They understood the customer, identified the need, observed the market trends, responded and were profiting. So I wonder, how do you measure my market’s woman’s competency?
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