Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,150,609 members, 7,809,232 topics. Date: Friday, 26 April 2024 at 06:12 AM

What's The Best Strategies To Market New Products In Nigeria? - Business - Nairaland

Nairaland Forum / Nairaland / General / Business / What's The Best Strategies To Market New Products In Nigeria? (3559 Views)

How To Start A Profitable Import Business Plus Fast Selling Products / Dangote Rice Coming To Market At Cheap Price / Strategies To Optimize Tax Compliance For Business Owners (2) (3) (4)

(1) (Reply) (Go Down)

What's The Best Strategies To Market New Products In Nigeria? by fryo4life(m): 7:25am On Nov 10, 2015
I need an advice from experienced businessmen and women on how a small business can market its manufactured goods in lagos without incuring huge cost on advertising and granting credit facilities to stores.
My sister produces quality yoghurt from his small factory at her house. And she supplies wholesale shops selling drinks in market on credit. The problem is that the market women always owe her a lot after selling all the yoghurt products she supplied them. Thereby, affecting my sister's cashflow to finance her business. Most of them always give excuses and delay payment.
Now, she has decided that she will stop supplying the market women on credit. But we don't know other sales strategy small we can adopt to sell our products fast without selling on credit in lagos?
Kindly note: her products is very quality and taste good.
Please, your advice and opinion is needed on how we can go about it.
Re: What's The Best Strategies To Market New Products In Nigeria? by DrOladipo: 3:53pm On Nov 11, 2015
Breaking even and getting a decent market share of Edible products is a function of the consumers perception of such product. Even if you have media hype this will not directly translate into long lasting sales if the product itself is not appealing. Referral from those that have tasted the yoghurt with positive review or experience will ultimately lead to increase demand at the long run. So advise your sister to do her homework in that niche well. NAFDAC and other regulating agencies approval?

1 Like 1 Share

Re: What's The Best Strategies To Market New Products In Nigeria? by fryo4life(m): 12:23pm On Nov 23, 2015
thanks.
Re: What's The Best Strategies To Market New Products In Nigeria? by JAkpayen(m): 12:48pm On Nov 23, 2015
@OP, by stopping to sell to the market women is not the best way except she can undertake the arduous task of selling to the consumers directly which may be very difficult. Since this is a new product, the best way I can she can maximize the market and make the women pay early is to introduce discount on her product i.e. maybe she can give discount of ₦250 for every ₦5,000 purchase on early payment.
Re: What's The Best Strategies To Market New Products In Nigeria? by fryo4life(m): 7:06pm On Nov 30, 2015
What about grassroot marketing. She is thinking of recruiting sales canvassers who will sell it directly to consumers in markets, busy locations and streets. And the sales canvassers will earn commision per product sale. We are thinking this will not only create popularity for our yoghort but also enable us to get feedback about the taste and quality of the product from the consumers. The only problem we may have with the street marketing approach is the presence of KAI who may disturb our sales canvassers.
Re: What's The Best Strategies To Market New Products In Nigeria? by lonelyhousewife(m): 9:30pm On Nov 30, 2015
I guess dis is a recurring problem SMEs encounter on regular basis. Why not sell directly to store owners (you become d wholesaler n source out retail stores). Get branded shirts and market your sweet delicious yoghurt to retail stores guarantee them of regular supply with a week or two interval to collect your money n resupply. But you would have to plan your production schedule n cash flow ahead of time. With this you'll be d producer, distributor, wholesaler n marketer.

1 Like 1 Share

Re: What's The Best Strategies To Market New Products In Nigeria? by dhtglobal(m): 8:33am On Dec 01, 2015
DrOladipo:
Breaking even and getting a decent market share of Edible products is a function of the consumers perception of such product. Even if you have media hype this will not directly translate into long lasting sales if the product itself is not appealing. Referral from those that have tasted the yoghurt with positive review or experience will ultimately lead to increase demand at the long run. So advise your sister to do her homework in that niche well. NAFDAC and other regulating agencies approval?
Re: What's The Best Strategies To Market New Products In Nigeria? by dhtglobal(m): 9:04am On Dec 01, 2015
lonelyhousewife:
I guess dis is a recurring problem SMEs encounter on regular basis. Why not sell directly to store owners (you become d wholesaler n source out retail stores). Get branded shirts and market your sweet delicious yoghurt to retail stores guarantee them of regular supply with a week or two interval to collect your money n resupply. But you would have to plan your production schedule n cash flow ahead of time. With this you'll be d producer, distributor, wholesaler n marketer.
Re: What's The Best Strategies To Market New Products In Nigeria? by Kelechijoan(f): 11:24am On Aug 04, 2017
fryo4life:
What about grassroot marketing. She is thinking of recruiting sales canvassers who will sell it directly to consumers in markets, busy locations and streets. And the sales canvassers will earn commision per product sale. We are thinking this will not only create popularity for our yoghort but also enable us to get feedback about the taste and quality of the product from the consumers. The only problem we may have with the street marketing approach is the presence of KAI who may disturb our sales canvassers.
how were you able to get sales canvassers because i need contacts. Am in lagos
Re: What's The Best Strategies To Market New Products In Nigeria? by Goldman360: 1:58pm On Apr 10, 2019
Effect of Advertising on Consumer Purchase Intent of Gulder Beer. (A Case Study of Enugu Metropolises)

Advertising is one of the many marketing tools that are used to attract attention of prospective customers to a business or its products or services.The more effective and advertising campaign, the more the customers is draws, with greater frequency.

http://www.scharticles.com/effect-of-advertising-on-consumer-purchase-intent-of-gulder-beer/

(1) (Reply)

Laundry And Drycleaning Service Company In Lagos / How To Startup A Zobo Business....see Tips Here / Earn Your First Dollar On Upwork-- I Will Guide You Through

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 20
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.