Sometimes ago, I was at a fast-food somewhere in Lagos for a meeting with a friend. After some discussion, I ordered some food and a bottle of coca-cola to go with it. My friend asked for Teem (a product of 7up Nigeria Plc), I proceeded to the counter to make my request and the attendant responded by saying ‘we don’t sell Pepsi products here”.
Not until she said that I never noticed that Pepsi products weren’t sold at this popular fast food. In fact, the statement made me flashback to how many fast food and malls I had visited where I didn’t notice that “we don’t sell Pepsi products are silently written everywhere” but I either didn’t see it or didn’t care.
While the price and brand war continues between Pepsi (7up Bottling Company) and Coca-Cola Nigeria, the’’ we don’t sell Pepsi products here directed my attention to some strategic plans and partnership that Coca-Cola Nigeria had made for a day like this.
Coke Vending machines
Understanding how Coca-cola is using its partnership with other brands that are of interest to her customers to further widen and strengthen both customer loyalty and sales would help startups build stronger brands and develop better products. I doubt anyone would refuse to eat at sweet sensation because they don’t sell Pepsi products.
Someone is saying Opeyemi Osilojo, how does this story help my business. That’s the next question I am answering, so I ask that you please be patient with me and read on
Questions on how to leverage other brands to build equity and increase sales
1. So I would like to ask what kind of partnership contracts are you signing as a Small business owner?
Are they the kind that ensures immediate returns even if they could bring about the death of your brand or damage the credibility of the brand you are building?
2. Are you going to where your potential customers are?
I would say don’t go to where they are; wait for them where they would be like Apple. The gains of waiting for them can’t be compared to going after them if you get other things right.
A product or brand would score better points when being proactive than when reactive. Be ahead of your customers always.
3. What brands (individual or organization) are you leveraging on its equity to grow yours?
4. What gaps exist within your industry or related sector that you can you maximize that would give your brand top of the mind awareness?
Can we have four friends who bake, do photography, makeup and event planning come together to build a singular brand?
As a Shoemaker/Cordwainer can your brand benefit from creating a shoe line for a Celebrity who is a shoe freak like Timi Dakolo?
Thank you for reading.
Your comments/ criticism/Observation are very important.