Peak Milk is Setting the Pace as a Market Leader
A market leader takes in its strides making investment in continuous knowledge and market development initiatives that benefit its product category and industry as a whole.
For any Organizations and or brands that fall in this category either as a pioneer in the market or as an innovator who created a non-existent category for the purpose of immersing itself, the mantle of success of this category rests on its shoulders.
This might mean that such market leader is expected to be selfless and futuristic while being a proactive entity whose actions subconsciously or otherwise dictate the pace in its industry.
One of such brands is Nigerian dairy leader, Peak Milk. Having been present in the Nigerian market for over 65 years, the world-class iconoclast brand on the FrieslandCampina WAMCO stable has championed the role of market leader in the dairy segment.
A role that hasn't been left to chance but rather deliberate strategic efforts made towards nurturing and maintaining market leadership status, building on their competitive advantage and guiding the flanks to protect its market share.
Speaking on the strategy of Peak market leadership, Tarang Gupta, the Marketing Director, FrieslandCampina WAMCO says the most important learning he had picked up during this period “is the balancing act of short and long term plans” especially in the face of “shrinking economy, diminishing consumer spending, operational challenges (due to forex crisis), rising inflation, high input cost of doing business”.
According to the Chief Custodian of the Peak brand, staying true and honest to the consumer has been one of Peak’s strategies. “Never think that a consumer does not know what you are doing. In WAMCO, we always ensure we sustain our product quality to guarantee our consumers get the impeccable quality they deserve”.
Likewise, as the most important asset for any business, the people provide a level of competitive advantage for the organisation, especially during a crisis – where the team can either drown by the gloom or find opportunities among issues. “The WAMCO marketing team in last 2 years has followed the latter because we all believe in ‘Power of Positive Thinking’”, Tarang disclosed. It is also important to keep the eyes on the ball by “staying true to brand’s vision and purpose and keep that as priority, while managing short term obstacles”. Following the recent Peak campaign activation, the market leader in Peak is reinforced while reminding its consumers and competition of its enviable pedigree. PECADOMO an acronym for ‘Peak Can Do More”, according to the marketing Director, “is not just a campaign, but an initiative to expand the usage occasions for milk in Nigeria”, across all social economic strata of the population and markets.
The reason behind this objective the company emphasizes is that Nigeria, not being a dairy producing country, the usage of milk is not as diverse and entrenched as compared to some of the other countries like India, Holland etc. This fact is also not helped by the current almost protracted economic slowdown, the consumption and usage occasions of milk was reducing.
Hence, in order to save the industry, save its market and ultimately its business, PECADOMO was introduced (by the industry leader, Peak Milk) to help show consumers that milk can be much more versatile than just being used in tea or cereal. It emphasizes that milk does not just add to taste but also significantly improves the nutritious value of the dish and thus having double the advantage. While the innovative PECADOMO activation is changing the message over time to bring about more and more uses to the brand, the marketing is also being expanded to gain more market share.
At the more strategic level, the concept aims at growing industry’s total market size and defend market share. Attesting to the efficacy of the unique innovation, the CMO confirmed, “this campaign has been extremely positive both from the consumers and the industry”. Since this is about creating new habits and deepening the industry, he added, “we will continue to educate Nigerian consumers on usage of milk and expand the category’s sphere of relevance, because with Peak ‘You Can Do More’”.
As a leader beats paths in uncharted terrain, direct and indirect competitors have embraced the concept as it brings out creativity among the Nigerian consumers. According to the CMO, FrieslandCampina WAMCO has received some very innovative ideas on how consumers have found different ways to use Peak milk in their dishes and he stated “I was impressed with the exciting variations done by the school kids” during the 2017 World Milk Day celebration on June 1. Some of these recipes have been uploaded on the website so others can also have fun trying them out - www.peakmilk.com.ng.
This is also an opportunity for Peak to drive up User Generated Content marketing considering the high engagement the PECADOMO campaign has garnered.