SEE HOW HYPO DOMINATED THE BLEACH MARKET!!!
Sis, If you catch this message, it will help you navigate this economy.
In the late 90s and early 2000s, nobody knew Hypo, no one knew Hy, talked more about hypo, the reigning bleach then was JIK.
JIK ruled the market and dominated it without giving any brand a chance to breathe, they suffocated any brand that tried to raise their heads in the market.
Even when OMO (some Gen Zs don’t know OMO had a bleach, lols) tried penetrating the market, JIK suppressed them.
Harpic came around and tried to do some magic in the market, but JIK didn’t create the room for them. Harpic had sense and ran towards toilet cleaners.
JIK were the odogwu of the bleach market, you couldn’t compete with them at all, it wasn’t necessarily because of the brand they’ve built.
It was because of the deep-pocketed investors who were willing to stake it all just to make the market their fortress.
But then the economy began to melt down, inflation was on the rise, in a country dominated by low and mid income earners purchasing power began to decline.
The masses could no longer afford the price of JIK. Imagine having a little stain on your white, and just to erase the stain you are made to buy a bottle of JIK just to remove one stain.
Then Multipro Enterprise Limited launched the Hypo brand into the Nigerian bleach market.
When they launched, they paid attention to the low income earners and made their authentic bleach more affordable by sachetizing their products.
They brought the sachet hypo and advertised the living daylight out of it, in one of their adverts, they used a guy in a black limousine, whose shining attire was blinding to his admirers.
They came up with a memorable phrase “Hypo go wipe o”, they used every available marketing channel they had to buy mindshare until they DOMINATED the market.
Just in case you think they are losing money by sachetizing, they are even making more money.
Now see this maths!
For example;
If one Bottle of hypo is N800, and this is about 1000ml.
And,
One sachet of hypo is N80, and it’s 75ml.
10 sachet of hypo would give you N800, but it’s just 750ml compared to the bottle that is N800 but 1000ml.
It means selling the sachets of hypo helps them save 250ml.
Did you see that? They even make more money selling to low income earners.
What made them DOMINATE the bleach market?
They made their products more AFFORDABLE and ACCESSIBLE by everyone.
What’s the lesson?
So many lessons to be picked, I know. But let me point one lesson to you.
If your customers are complaining of how expensive your products or services are, don’t be in a hurry to reduce your price.
Just make your offers more affordable by creating something smaller that would still be of great value to them.
Especially now that things aren’t funny, you can leverage this.
If you miss the entire lesson don’t miss this lesson, it will help you in this economy.
Thank You!
