Africa’s economic reset requires moving from ambition to execution
The Africa Commerce Convergence Summit keynote address identified four elements that must converge if the continent is to achieve a meaningful economic reset.
BUSINESS STRATEGY
Highly competitive Nigerian bitters market gets yet another entrant
By our News Team | 2023
Media event in Lagos unveils Nollywood brand ambassador and premium brand strategy for Korect Bitters, which joins a host of competitors.
Grand Oak Limited, the manufacturer and marketer of Nigerian alcoholic drinks Seamans Schnapps and Lord’s Gin, has entered the country’s highly competitive bitters market with the launch of Korect Bitters.
The product is being marketed with product quality, smooth taste and ‘perfect blend’ as its key differentiating factors.
The Korect Bitters marketing team with brand ambassador Bolanle Ninanlowo (centre) during the launch event. Photo credit: Grand Oak Limited
“It has a smooth taste which is believed to make it unique and different from existing brands in the bitters market,” reports Nairaland.com, a popular forum site in Nigeria.
Korect Bitters was launched recently at a high-profile media event at the Lagos Marriot Hotel, which also unveiled Nollywood actor, Bolanle Ninanlowo, as its brand ambassador.
Outlining the go-to-market strategy, Brand Manager John Sinmidele Ogunwale, explained: “Korect Bitters is intentionally crafted to bring out the best in every Nigerian, whether male or female … it is a brand that takes pride in celebrating individuals who go the extra mile to ensure excellence is their final output. To us, they are the ones who deserve the accolade; ‘Korect Guy’.”
Large investment in production of Korect Bitters
According to the Nigerian-based newspaper Business Day, Grand Oak has invested more than US$1-million in the production of Korect Bitters.
The local bitters market is estimated to be worth more than US$400-million and has a year-on-year growth rate of over 15%. It is dominated by Diageo’s Orijin brand.
Trend Type, the London-based emerging market consultancy, notes that there “is a very long tail of brands, many of which are sold in small bottles or sachets to be more affordable”.
The consultancy adds: “Part of the appeal of bitters is that the bitters category is positioned as healthy, an aphrodisiac, and as an alcoholic energy drink.
“Manufacturers have targeted male beer drinkers with messages about weight loss (beer is perceived to be fattening), sexual performance, restorative powers and vitality. In non-alcoholic drinks, blood tonics and other herbal drinks have occupied some of this space.”
Last month, Craft Methods launched the D’General Bitters brand, described as “a fine blend of water, honey, citrus, alcohol and natural herbal extracts”. Craft Methods is a local FMCG company better known as a manufacturer of baby diapers.
Momentum Group appoints chief marketing and communications officer
Vongani Mageza brings more than 20 years’ experience across financial services and FMCG) companies such as FNB and Diageo.
AI and algorithm-led engagement among the challenges facing marketers
AI agents will influence shopping, algorithms will supersede social connections, and the clip economy will change how brands connect.
Absa bank launches pan-African campaign with athlete Eliud Kipchoge
The brand partnership includes a new TV commercial featuring Kipchoge, digital storytelling, wellness initiatives and community programmes.
How traditional trade is being reimagined, but remains ‘traditional’
Modern retail in Africa is still dwarfed by the traditional trade. Marketers who dismiss this relationship-heavy retail model do so at their peril.
How luxury brands become a source of meaningfulness for employees
Research finds brands don’t just sell products. They can also provide employees with stories through which they feel their work is meaningful
Redefining honesty in a crisis: Why truth alone is not enough
Honesty must be demonstrated through transparency, accountability and action – shaping both reputation and future trust following a crisis.
Lesotho bank’s culturally intelligent campaign beats bigger rivals
In the funeral plan category, where most advertisements look like an obituary, Standard Lesotho Bank opted to ‘sell the cow’, not the policy.
AMC magazine brings latest news and insights for Africa’s marketers
Strategic Marketing for Africa, the publication for deep-thinking African marketing professionals, is not to be missed.
Global study of marketers and agencies is coming to Kenya for first time
CEO of Scopen says the expansion into East Africa is a natural progression following the success of the research in South Africa.
Huge African and Caribbean trade potential can be unlocked, study finds
Report says around 80% of Africa’s annual goods export potential to the Caribbean remains untapped.