Example of Innoson Motors.
Innoson is a car brand in Nigeria with acquired ranges like IVM Ikenga, IVM Seriki, Innoson Uzo, G80, G40, etc. ..
The brand is becoming an household name.
Now, you say the brand hasn’t driven out other car brands from Nigerian roads…that’s a tall call.
But here’s the marketing lesson I’m driving at …
Many people have complained that IVM cars are expensive for a relatively new brand.
That often than not, a “common man” cannot afford them.
While this may be true, a notorious fact in marketing is that a good brand charges what it’s worth.
If you have done an excellent marketing campaign and you’re still struggling to make good sales, then it’s either or both of two things:
- Your product sucks.
- The market does not need your product.
If you have a good product wanted by the market, it becomes a marketing mistake to price your brand lower than you’re worth.
So, whether your business is new or not, charge what you’re worth. If you charge less than, you’ll have an uphill task increasing your rate when it’s time …and
It’ll subconsciously register in the minds of people that your offering is substandard. This will affect your sales massively.
Back to Innoson cars…
Innoson Uzo costs #1.54 million.
Innoson UMU costs #3.63 million.
G80- GWagon costs #27, 825,000.00
G40 costs #17, 325,000.00
These prices match the standard pricing of other car brands in the market.
…and while ordinary Nigerians think they are expensive, corporations are already using them.
Silverbird, Nigerian Army, Anambra State government, name them.
With this subtle gradual acceptance, it’s only a matter of time before the brand is seen everywhere on Nigerian roads.
Do i think the company can do better with advertising in order to impress the brand’s name into the consciousness of people? Definitely.
Nevertheless, the brand is charging what its worth. This marketing strategy may look counter intuitively, but …
It’s the key to long sustenance of your business.
Below is IVM G40…one of the products of Innoson Motors.
#Innoson #marketingtips #copywritingtips