They have now accepted the inevitable
disruption and have all now enjoined
M-Pesa in their various platforms.
Todays market challenge is to own the
market. Here are some tips on how to
go about it.
Convenience
Todays consumer is spoilt. They can
get everything on their palm top
or through the click of the mouse
courtesy of smart phones and Google.
They have redefi ned convenience.
Your product or service has to mesh
with their lifestyle. And they are time
starved. They cannot wait.
and Uber because they are world class
brands. Brand building has never been
more important. Once you have this
trust, you can control the market.
Cost vs Lifestyle
It’s never about the price. Some of
these little conveniences are costly
but the consumers don’t mind.
Todays client does not care spending
more for a better more convenient
product. Sending money to your bank
or withdrawing from the bank are
comparatively expensive yet clients
would rather pay this added cost than
que at the bank.
a close relationship with the latest
technological developments.
Internet for example has changed
the way we shop. Instead of window
shopping, we are now Google
shopping. The various apps have
transformed the way we acquire,
control and expand our market share.
Its technology. Stupid.
Communication
Todays market disrupters have massive
communication budgets. Like Uber,
most of them do not have elaborate
capital infrastructure to sink their
funds other than communication.
So, as you design your product or
service, think about enhancing their
convenience. Anything less will not
pass. Nobody wants to queue at the
bank or wait for taxi anymore.
Before, it was acceptable to have your
taxi guy waiting at the parking as you
attended your meeting. Not anymore.
The added cost and discomfort of
keeping somebody waiting is not
necessary. Welcome Uber.
Brand
Embrace technology
As indicated, the battle is now for the
share of the mind not market share. To
this extent, Communication is vital. It
is awareness that evolves into emotional
fondness of a loved brand. Stop owning
buildings. Own the market and let
everybody dance to your tune.
Trust is key. A world accepted brand
commands trust. Its called world class.
Your brand must meet the benchmark
of world class and deliver to the
promise. People trust Apple, M-Pesa
Like it or not, we cannot escape
the stranglehold of technology. It
has changed the way we eat, sleep,
interact and do literally everything.
Every product or service must forge
Evans Majeni sells Apple Products in
Westlands Nairobi. He enjoys stepping
on big toes and paying the price. You can
reach him via mail on this or related
issues at: [email protected].
14 MAL 13/16 ISSUE