Category Archives: Business

Leveraging distribution strategy for market Leadership

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The Nigerian consumer market is growing on all fronts and this is a pointer that it cannot continue to be business as usual. Brand handlers who understand this are thinking outside the box to create strategies for a deepened consumer affinity that will guarantee market share, profitability and brand loyalty. In the past, some brands had dwelt on the old proverb of building better mousetraps and allowing the world to beat a path to their door. This was true then. But today’s mousetrap requires intensified communication. In any competing market, the brand’s handlers have to package and promote the mousetrap and the world will definitely come en mass if other variables are in tandem.
The objective of every marketer in the fast growing market like Nigeria is to allow the world to continuously beat a path to its door. For this to happen, it requires certain factors which include the completion of production process of allowing the goods to reach the final consumer. This is a marketing strategy employed by brands like Chivita 100% in its marketing mix to create sales and achieve consumer satisfaction. Analysts agree that the perpetual unavailability of any product in some regions cannot effectively enhance sales as would have been expected.
The handlers of Chivita 100% have leveraged on an efficient distribution system which comprises of retailers, wholesalers, multilevel marketers and sales representatives to bring the product nearer to the people with the underlying objective of creating more market share. This effective distribution strategy has ensured that millions of people across the country readily have access to it. A quick check at various branch offices in Ibadan, Abeokuta, Minna, Jos, Kano, Kaduna, Abuja, Asaba, Aba, Owerri, Yola, Maiduguri, Gombe, Port Harcourt , Uyo, Onitsha, Ibadan, Benin, and Lagos reveal the availability of the product. Chi Limited has an efficient way of transporting their products through major distributors across towns and cities in the 36 states of Nigeria. The products are conveyed via trucks to these distributors for onward delivery to retailers
For Atinuke Jegede, who operates Choice Stores in Ibadan, ‘’Chivita 100% is always readily available at shops and its 100% pure juice content has really endeared to its consumers who are increasingly becoming conscious of realness and quality”
The brand has been able to achieve market- appealing product availability with economical price and exciting marketing promotion strategy especially in Nigeria’s competitive juice market which has created a positive effect on the return on investment. To achieve this, according to analysts requires consumers insight. An analyst said that “Brand loyalty cannot happen without a thorough understanding of the consumer and a deliberate decision to satisfy and exceed the customer’s expectations via both core and surprise values” 
Unlike the captain of the sunk Titanic ship that looked at the tip of the iceberg, the handlers of Chivita 100% have deviated from focusing on the “pieces of information about the customers but probed “deeper into the world of the consumer to understand their motivations, needs, aspirations, belief systems and other deeper values they hold dear and which hold the key to the
The brand handlers of Chivita have also “successfully positioned Chivita 100% as a food product with local roots through its “Be Nigerian, Buy Nigerian” campaign. Because the fruit juice market is a peculiar market that is driven more by volume sales, availability at every point of purchase is critical to market leadership. The distribution network, built over 30 years, is able to match and even surpass that of competition in certain locations”.
 

GTBank Releases 2017 Half Year Audited Results …….. Reports Profit before Tax of ₦101.1Billion

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Guaranty Trust Bank plc has released its audited financial results for the half year ended June 30, 2017 to the Nigerian and London Stock Exchanges.
A review of the half year performance, shows positive growth across all key financial metrics and improved strategic positioning of the brand. Gross earnings for the period grew by 2% to ₦214.1billion from ₦209.9billion reported in the June 2016; driven primarily by growth in investment securities income as well as income from risk assets. Profit before tax stood at ₦101.1billion, representing a growth of 18% over ₦85.69billion recorded in the corresponding period of June 2016

Extra Ordinary Draws: Diamond Bank Creates 13 Millionaires in 2 Weeks

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Diamond Bank Plc, Nigeria’s leading retail bank, has created additional 13 millionaires in its daily extraordinary draws across the six geopolitical zones of Nigeria’s economy.
With these newly created millionaires, the Bank has fulfilled the promise made by the management to make one customer a millionaire every working day in the month of August.

CHI EXOTIC NECTAR REITERATES SUPERIOR TASTE IN NEW CAMPAIGN

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Chi Exotic Nectar, one of Nigeria’s most admired fruit nectar drink has launched a new communication campaign to reiterate its commitment to indulge all its consumers with the wonderful taste that they just love. Tagged I Love the Taste, the campaign delivers the brand’s promise of superior excellent taste through sublime and persuasive imageries that resonate with consumer aspirations.

HOLLANDIA CHOCOMALT 3-IN-1 DRINK OFFERS INSTANT NUTRITION

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Chi Limited, Nigeria’s market leader in high quality Juice and Dairy products has introduced the 01st Ready-to-drink chocolate, milk and malt drink to the market. The product, Hollandia ChocoMalt Drink, fondly referred to as “3-in-1 Yo!” because of its appeal to a youthful consumer segment, is an innovative product that combines chocolate, milk and malt in trendy pack sizes. It can be consumed immediately after opening and delivers instant or sharp sharp nutrition to consumers.