Advertisers get bang for innovation buck

Advertisers are cashing in on the innovative products that are flooding the market. An official of a popular advertising firm noted that a growing competitive environment has instilled in manufacturers the need to make their products stand out in the minds of the consuming public. “Greater interest means more sales and more sales means more money,” she said. The competitive market, she said, has undergone drastic changes over the last ten years with more brands coming on stream in the respective product categories.

The juice market, for example, now sees over 100 brands on supermarket shelves, while 10 years ago there were only two. “The packaging of products is indeed changing because of the need to stand out among the increased number of brands on the market at present,” she said. The soft drink Sprite recently launched its new upsided down label. “This is unheard of in any brand,” she said. “The aim is to grab attention, to create a buzz and hype around the product and stand out on the shelf from the other products.” “As a result of this, a number of companies have also begun to turn to advertising to support these packages,” she said, noting that each category of product will have its reasons for wanting to stand out.

The main reason though is as a result of increased competition. She said the major target market for local companies now was teenagers. Companies are hoping that once they capture the attention of teenagers with innovative products, they will have their loyalty in years to come when they are older, have a disposable income and more purchasing power. Companies in the Caribbean are limited by budget and resources, but they are still trying their best to stand out from the competition, she said.

“Ads are now more entertaining so that the respective brand stands out and is the last thing the consumer remembers at the end of the commercial. Companies know that consumers must be left with the desire to buy the product.” She explained that companies now understand the need to communicate on a more emotional level with the consuming public. “They are seeking to show product value on an intrinsic level,” she maintained. “On the physical level, consumers know that the respective product will quench their thirst, clean their hair and so on.