AKINYEMI: Value has become hottest commodity for firms, nations
Firms are increasingly spending less on advertising and more on research and development in order to raise the value of their products. PHOTO | FILE | NATION MEDIA GROUP
Value is the most attractive commodity in today’s world. People flow towards value like plants towards the sun. Every year there is a little known event in Kilifi, an electronic music festival, that attracts up to 10,000 people majority of whom are from outside the country.
The event is held in December to usher in the New Year and it gets packed with 80 per cent of attendees being foreigners (mostly from Europe) who fly to Kilifi just for the festival. The festival has totally woken up the Kilifi economy during the December holidays and despite not advertising on social media or any of the conventional channels they are able to pull thousands of foreigners into the country. The story gets even crazier. The festival has no local sponsors and simply sells itself.
