The Coca-Cola Company commenced an activation to promote the new price for its 60cl bottle now at NGN100 from its initial price of NGN150. All non-alcoholic drinks in this category are in competition to grab the consumers’ 100 note in their wallet.
There’s a massive shift from BRAND WAR to what I refer to as 100 NAIRA WAR across categories including Banking and Financial Services, Telecommunication, Betting, Pharmaceutical, Food & Beverages because all brands are competing to gain immediate access to the consumer’s wallet.
NGN100 can change an individual’s status from online betting on BET9JA, purchasing airtime, voting for his favourite Housemate on Big Brother 9JA Reality TV Show. Or peradventure you can go as low as purchasing a 50naira gala with 50naira bottled water, your favourite morning Akara and garri, afternoon meal of two wraps of fufu without meat, and a lot more.
Let’s drop this assumption of NGN100 being less than its ultimate worth. Now, the big question is “Which Nigerian brand has got the opportunity to gain full access to a consumer’s NGN100 note on what day and at what time”?
As technology keeps improving, NGN100 might lose its value over time. But as at now, brands should use this open opportunity to gain ground and convince the consumer to spend their NGN100.
According to Mr. Franklin Ozekhome, the competitive landscape has totally taken a different shift; it’s no longer brand vs brand within a specific category; it’s now brand vs brand across sectors, categories and industries all competing with the peculiar target audience.
Don’t get it twisted and feel consumers, in reality, have your brand in mind when trying to purchase a product nor acquire service because they can casually change their mind within a second.
It is a war whose end is not in sight yet, or may never be!
Written by: Fehintola F.T.O, Futuristic Solutionist/Strategist
- Twitter: @fehintola_FT