Milo Battles Ovaltine on Quantity
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Nestle’s Milo has increased the quantity of its single use sachets to match Ovaltine’s quantity challenge. Ovaltine recently packed its 50g sachet to the brim aiming to woo value-for-money consumers , but Milo has also, responded with its own quantity boost to its 50 g sachet by mid-July,2022.
The cocoa beverage market rivals are yet battling for market dominance, even though, Milo has been the clear market leader, for some years now. Ovaltine which held the no.1 spot for some years, stumbled largely due to ownership problems and the resulting loss of marketing focus.
Currently owned by Twinings Nigeria , the Ovaltine brand has bounced back into market reckoning, in the past two years. It would need more marketing savvy though ,to effectively challenge Nestle Milo’s market leadership, say analysts.
Jumia Goes on a Rollercoaster Sales Drive
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by Niyi Adekanye
Jumia has been on back-to-back sales promos since July,in an uncanny rollercoaster sales promotion ride. Since July, when the African e-commerce tiger celebrated its 8 year anniversary it has been on a sales promotion binge. Celebrating its 8 year milestone was an opportunity for a sales promo. Needless to say,the that anniversary promo was extended beyond the typical one month period. By Mid-September, it was time for several Black Fridays, as Jumia tried to keep the sales roller -coaster going. Then of course , the traditional Christmas Sales season kicked in early December.
Flush with cash from last year’s initial Public offer on the New York Stock Exchange, Jumia has been revving its business engines ,coming out more aggressively to dominate the country’s e-commerce market.” We are seeing a more aggressive and dominant Jumia this year : says one analyst. Although Jumia’s Christmas sales promo period from December 6 to 19 has ended officially,but the same Christmas Sale has continued unabated since then.
The e=commerce tiger has also expanded its fair ,covering virtually all areas of likely consumer goods demand.Consumer goods available on the portal range from apparel,shoes to sizzling pasta and barbecues on Jumia Foods.It is even more financially savvy having launched Jumia Pay earlier in the year and it currently offering consumers who use the service a 10 percent discount on purchase during its ongoing Christmas sale period.
Ecobank Nigeria Wins “Consumer Finance Product Of The Year” At MEA Retail Banking Innovation Awards 2021
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Akinwuntan, Ecobank Nigeria MD
Ecobank Nigeria has emerged the winner of “Consumer Finance product of the year” award at the Middle East & Africa (MEA) Retail Banking Innovation Awards organized by Digital Bankers. The MEA Awards, according to its Managing Director, Nirav Patel aim to recognise and celebrate the world’s outstanding Financial Services Organisations that are pioneering unrivalled standards and capabilities in their respective fields across the Middle East and Africa.
He said that the awards recognize ‘those that are transforming the industry by setting new milestones in service delivery, digital innovation, product development, payments, technology, customer experience and more.’ The award committee observed the disruption of the global financial system with the advent of Covid 19 pandemic and how Ecobank deployed its digital offerings to serve its customers.
Commenting on the award, Managing Director/Regional Executive, Ecobank Nigeria,Patrick Akinwuntan described it as a worthy recognition of Ecobank’s digital transformation landmark initiatives, stating that the bank’s digital payment and collections platforms have brought convenience to the daily running of customers’ businesses. He noted that with its digital offerings, Ecobank was able to serve its customers without interruption during Covid 19 nationwide shutdown. He listed some of the digital platforms as Ecobank Mobile App and USSD *326#, Ecobank Online, Ecobank OmniPlus, Ecobank Omnilite, EcobankPay, Ecobank RapidTransfer, ATMs, POSs, as well as an extensive distribution network of over 250 branches and about 40,000 agency banking locations.
“As a fast-paced bank, we are constantly innovating our processes to ensure customers’ ever-changing needs are met as well as achieve our corporate objectives. Some of the key mandates we will be fulfilling in the nearest future include having a fully digitized loan platform to ease accessibility and use of our products. We will also be enlarging our agency banking network to reach the unbanked and underbanked in Nigeria. We are delighted to receive this prestigious award. It is a testimonial to the hard work we have done in line with our digital transformation and innovative products and service.” Akinwuntan said.
Muse Media Enters Abuja Outdoor Market
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Muse digital board at busy Area 1 roundabout,Abuja (pix.Imoh Ayotunde)
By Grace Oputa
Muse Media appears to be making a big entry into the outdoor advertising market in the FCT, Abuja. Last week, Muse opened its eye-catching digital billboard which is well placed at the Area 1 roundabout in Abuja.
The early advertisers are big too. MTN, Techno and Indomie have already signed up and have their ads running on the strategically placed digital board.
Targeting and winning such a highly valuable spot seems to say a lot about Muse’s strategic thinking and how it intends to compete with longstanding rivals in the market. New Crystal is undoubtedly the king of Abuja’s outdoor market, while other significant players include Lona Media, Arith &Paul and Nimbus, which plays mainly at indoor areas such as the Jabi Lake Mall.
New Crystal controls at least, half of the Abuja, FCT outdoor advertising business. Others have to make do with little pieces of the outdoor pie. Can Muse shake up the market ? Well, time will tell.
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