The socks ostensibly symbolise, and serve to convey the meaning of 'individuality'. In terms of positioning, the narrative makes it clear that the product serve to 'meet your specific needs', as it allows for a range of investment amounts.
Firstly, funky socks are hardly a convincing symbol of individuality, as they are seen often and can be bought in most shops. They have long since become the uniform of the individual, which is wonderful oxymoron! A bigger problem, however, is the incongruence between the notion of individuality and the product on offer. The fact that as little as R150 can be invested, places the product into reach of even the poor. It hardly gives anyone a sense of being special, distinct or the opposite of the population at large (as per the Oxford definition). In levelling the playing fields, it is doing little by means of reinforcing a sense of identity linked to individualism.
Secondly - and this snuffs the ad from a segmentation and positioning point of view (besides perhaps alienating many) - is the promotion of an Euro-centric value (individuality) in a country characterised at least by a duality between Afro-centric and Euro-centric values. Central to Afro-centric values is the concept of Ubuntu, which, literally translated means, "I am because we are". Being a humanistic philosophy, it emphasises group support, commitment and the common good. The notions of 'group' and 'common' are in direct contrast with that 'individuality', which conveys the meaning that self-reliance is better than relying on others. It is, in my view, a huge flaw (unless of course this was a target market driven strategy) for Sanlam to link a product (thus inevitably communicating a brand - or worse still - company value), to a parochial, Euro-centric core-value. By using a product that promises to enhance the consumers' sense of individuality, setting him or her apart from others, when many in our country may feel that they are because of a collective, just doesn't resonate. It is bad strategy, pure and simple and certainly contrary to the Sanlam mantra of "Thinking Ahead".
It would perhaps have been more applicable to generate an ad that conveys the notion of freedom of choice (which is more relevant given that the product allows for different investment amounts). At least the value of 'freedom' is something we all can relate to as it appears in our Bill of Rights, e.g. freedom of association; freedom of religion, belief and opinion, etc. Conveying a notion of freedom would also promote a sense of salience and differentiation for the Sanlam product in a market increasingly characterised by price and product parity.
Sources: Booysen, L. UNISA Graduate School of Business; The Constitution of the Republic of South Africa, 1996 (Act 108 of 1996).
