Vanguard Newspaper 14 February 2018
20—Vanguard, WEDNESDAY, FEBRUARY 14, 2018 Fan market: New technology, design drive competition for market share Stories by Princewill Ekwujuru New technology, design and availability have been identified as responsible for the intense competition for market share in the fan segment of the home appliances sector of the market. This has led to deployment of various types of technological enhancements by fan manufacturers aimed at improving consumer experience with their product. The enhancements include music playing capacity, Bluetooth capacity, liquid crystal display, LCD, cooling agent and rechargeable power source. The major contenders for the market are ORL, Binatone, OX, Sonic, QASA, Lontor, STC and Panasonic, all imported brands. Others are include Linsan, Kestar, Deluxe, Sonik, Deco. Vanguard Companies and Market, C&M, investigation revealed a growing demand for fans driven by hot weather, increased population, growing real estate development. The need to satisfy the growing demand informed the production of fans of various sizes and capacities, colours and stylish designs that are consumer pocket friendly. Hence the market is proliferated with different types of fans such as Wall and Window mounted, floor-standing, Ceiling mounted and others. To maintain market share, the top contenders have developed and introduced power efficient fans that use battery, as well as fans with two blades that give a great cooling output. Other innovations include remote control and programmable timer. The competition is further heightened by increasing volume of imported second hand portable fans. C&M findings showed that major marketers have not neglected the distribution concept of delivering the products directly to the wholesalers for sale to the retailers. C&M findings also showed that most consumers’ patronage is influenced by brand names as well as durability, design, availability of the product as well as referral from other consumers. Problems Fans like other home appliances have their peculiar problems in spite of the technological innovations. C&M findings revealed that fan engines made from aluminium are more problematic and less durable than fan engines made of copper coils. Consumers’ speak Some of the consumers also claimed that second hand fans are more durable than the new ones, though some said they patronise them due to economic condition. Speaking to C&M, consumers were divergent in their preference for the different brands. Though majority indicated But I am looking forward to trying QASA because of the commendations I had gotten from friends who use the brand preference for ORL, Binatone, OX, QASA, Lontor and STC; ORL, Binatone, OX, came topmost in consumers’ mind due to their durability and cool air output. A consumer, James Jolomi, prefers OX because it is a brand •From Left: Mrs. Karen Perez, Findadmission Visa Counselor for Canada; Folabi Obembe, Founder of WorldView International - The Company behind Findadmission;, Akin Naphtal, CEO, InstinctWave at the press briefing unveiling the platform, Findadmission in Lagos. that , that has been able to connect with consumers in terms of affordability and durability. “I love OX for its energy-efficiency. It is an alternative to airconditioners.” Another consumer, Matthew Olayemi said he prefers ORL for its low power consumption and silence. “But I am looking forward to trying QASA because of the commendations I had gotten from friends who use the brand”, he said. Hassan Al-Hassan said he prefers imported second hand fans because they are cheap and serves his purpose. Experts’ response Speaking to C&M, a fan technician, Muyiwa Adelotan, whose shop is located at Isasi, Lagos, confirmed that fans made of copper coils are more durable and suitable for the Nigerian environment, “most of the fans in the market are made from Aluminium. When choosing a fan you need the help of a technician.” In addition, Ayo Onile, a specialist in repair of different types of fans, located at Alaba International market, Lagos stated, “not every service technician understands fans produced these days, so you need an expert to choose a good fan for you.” Guinness sets aside N7.2m for Maltav avat ator challenge By Favour Ikede Guinness Nigeria Plc, makers of Malta Guinness has set aside $20,000 (N7.2million) for the winner of its pan African television show, Maltavator challenge. The program will see homegrown Nigerian talents G-Circle unveils 3 herbal products Growing Circle International Limited, a top multi-level marketing company referred to as G-Circle has launched three health products, G-Herbal, G- Reliever and G-Lemon into the market. The company said the products are its modest contribution to the Nigerian economy and addition to the growing numbers of natural healthcare products in the country and the global market. Managing Director of the company, Mr. Olalekan Owolabi, at the unveiling of the products in Lagos said: “We are excited to announce the official unveiling of our new natural health products; G-Herbal, G- Reliever and G-Lemon. “These products are results of our meticulous research into lifestyle and health needs of contemporary Nigerian masses. G-Herbal is formulated to treat Pile, low libido, waist and back pains; G-Reliever is manufactured to be the body detoxification Agent. It helps in the treatment of hypertension, body pain and it improves heart beat rates. G-Lemon on its part is produced to be a dependable blood purifier, capable of managing diabetes and it regulates body sugar level.” Owolabi added that the uniqueness of the product launch goes beyond manufacturing of those unique healthcare herbal products alone, but it is also about Growing Circle International Limited’s commitment to excellence within period of about two years of existence. Also, speaking, Executive Director, Finance, Mr. Abdullah Moruff Olakunle, said: “Our unique natural health products have their roots in deep African herbal with proven testimonies for working within the body System without side effect.” Olakunle adjoined more Nigerians to join the Growing Circle Multi-Level Marketing concept. ‘’I encourage Nigerians to join G-Circle network marketing through our website - https:// www.growingscircle.com to increase their wealth base”, he noted. compete against contestants from Ethiopia, Ghana and Ivory Coast to see who can best fuel their greatness by turning the Malta goodness into greatness. Speaking, Brand Manager, Malta Guinness and Premium Non-Alcoholic Drinks, Ifeoma Agu said: “We don’t just say we care about our consumers, we show them by fuelling their greatness with exciting platforms such as this to demonstrate the brand’s purpose which is to fuel the can do spirit of Nigerians.” “The Maltavator challenge brings to life our brand purpose of ‘fuelling the greatness’ of Nigerians and there is no better way of showing this than pitching this greatness alongside contestants from other countries.” She added, “Malta Guinness is perhaps the only Malt drink that can create this bold platform, because we are present in over thirteen (13) countries across Africa, fuelling the greatness of Africans as they turn the Malta Goodness into Greatness.
Vanguard, WEDNESDAY, FEBRUARY 14, 2018—21