Bingo Strategy

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MARKETING STRATEGY OF

Transcript of Bingo Strategy

MARKETING STRATEGY OF

KRITHIKA SHETTY 208

HRISHIKESH CHUMBLE 190

AMIRTHA SUNDARAM 183

AMBAR KADAM 204

REVAN MENKUDALE 212

MILIND NAIK 219

POONAM POPAT 225

RAKESH RAJDEV 227

INTRODUCTION

• ITC is one of India's foremost private sector companies.

• The market capitalization is nearly US $ 22 billion and a turnover of US $ 6 billion.

• The company is currently headed by Yogesh Chander Deveshwar.

INTRODUCTION (CONTD…)

• It is rated among the World's Best Big

Companies, Asia's 'Fab 50' and the World's

Most Reputable Companies by Forbes

magazine, among India's Most Respected

Companies by Business World and among

India's Most Valuable Companies by

Business Today.

HISTORY

• ITC was incorporated on August 24, 1910 under the name Imperial Tobacco Company of India Limited.

• The name was changed from Imperial Tobacco Company of India Limited to India Tobacco Company Limited in 1970 and then to I.T.C. Limited in 1974.

• The Company's headquarter building, 'Virginia House‘ is located in Kolkata, India

VISION AND MISSION STATEMENT

INDIAN SNACKS INDUSTRY

• Comprises bakery products, ready-to-eat mixes, chips, namkeen, etc.

• Worth Rs 100 billion in value and over 4,00,000 tonnes in terms of volume

• Growing around 10% for last three years

• Branded segment is growing around 25% per annum

• Major players in branded segment include Frito Lay and Haldirams

• Potato based snacks constitutes the largest segment of the industry

BINGO !

About

•Launched by ITC on 14th March 2007

•Aim to capture 25% market share

•Challenge to the monopoly of Frito Lays

•Includes an array of products in both Potato Chips & Finger Snacks segment

Flavours

•Research: Demand for novelty and excitement in exiting snacks

•Taste: Came up with 16 Innovative Flavors

•Traditional Segment

•Western Segment

•Finger Snacks Segment

Value ProPosition

• Lays share reduce from 65% to 45%High Decibel Advertising Regional FlavorsDistribution Strength

•Offering a higher margin (4% -5%)

27%

16%45%

12% Haldiram

Bingo

Lays

Others

After the launch of Bingo, Dec 08

25%

65%

10%

Haldiram

Lays

Others

Before the launch of Bingo, Mar

07

Market Share: Organized Sector

TARGETING

(Choosing a specific

segment for the

campaign)

POSITIONING

(Designing a distinctive message to

appeal to the targeted segment)

On what basis can a market be

segmented ?DEMOGRAPHIC

•Age •Income•Gender

•Occupation•Education

PSYCHOGRAPHICS

•Personality•AIO(attitudes,

interest, opinion)

•BUYING BEHAVOR

•Initiator•Evaluator

•Decision maker•Purchaser

USAGE PATTERNS

•Heavy•Medium

•Light

12 - 20

Years

20-35

Years

35-

50

Year

s

> 50 Years

Demographic (Age Group)

Plain

Salted

Nimbu

flavour

Spicy /

Red Chilly

Mustard

Sting

Taste

Conservative,

reserved, shy

Outgoing,

Fun Loving,

Bindaas

Psychographic (Attitude / Behavior)

NORTH

EAST

SOUTH

WEST

Indian Geography

Segmentation

Age GroupAttitude/BehaviorGeographyTaste

TARGETING

20-35Years

Demographic Age Group

Outgoing,Fun Loving,

Bindaas

Attitude / BehaviorSpicy /

Red

Chilly

Mustard

Sting

Nimb

u

Spicy

Plain

Salted

Zones & Taste

Youthful positioning

www.bingeonbingo.com for 25-and-under innovative segment

Variants in flavors as youth are experimental, like Achaari masti, Chatkila nimbu achaar, Red chilly dhamaka

Utilized the concept of “CROWDSOURCING” for Bingo Mad Angles

POSITIONING

BRANDING STRATEGY

What’s in my name ?? (brand name)

Easy toPronounce

Trendy and Fun

Exclamation Mark

Recallable

Catchy

Who am I?? (Brand identity)

A brand with various flavours

A youthful, fun and colorful brand

Unique shapes

Easy punch line

How do I look? (Brand Packaging)

Attractive packaging

Pictorial view of the

flavour

Names provided to various

variants

What do I portray? (Brand

Personality)

Innovative:

Unique shape

Unique musical sound

Experimentative:

Flavours like achari

masti,

red chilly dhamaka

Marketing Strategies

Product Strategy of

Product Strategy of

Pricing Strategy

• SKU’s priced Rs 5, Rs 10, Rs 20

• Recently launched Rs 3 SKU of Kurkure

Consistent with competition

Promotional Strategy of

• “Chala Change Ka Chakkar”

• “Chai Time Achievers”

• Posters at unconventional retail points

• Brand Ambassadors

Kurkure Express

Promotional Strategy of

Promotional Strategy of

• Launched during World Cup 2007

• Slapstick humor & Irrelevant theme

• Blitz Krieg promotion

• Bingo National Gaming Championship

Distribution Strategy of

Well established network

Distribution Strategy of

• Manufacturing plants in Punjab and Pune

• Aims at investing Rs. 20 crore

30 CFAs800

distributors4 lakh

retailers

1 million retail

outlets

Distribution Strategy of

Well established network

Distribution Strategy of

Distribution Strategy of

• POS material

• Retailers

• Alliance with Future Group

Distribution Strategy of

Viral Marketing

• Content that encourages people to pass on

the message is referred as ‘Viral’ and the strategy is

called as ‘Viral marketing’.

• Induces Web sites or users to pass on a marketing

message to other sites or users.

• It can be done through buzzwords, word of mouth

and viral video etc.

5 basic principals of Viral Marketing

• Giving away products or services.

• Making people feel something.

• Doing something unexpected.

• Using existing communication networks.

• Allowing effortless transfers and never to restrict access.

Methods

• Internet Search Engines & Blogs.

• Social Media Interconnectivity

• Television & Radio

• Multiple forms of Print and Direct Marketing

• Customer Participation & Polling services

• SMS

Viral Video

• A viral video is one that becomes popular through the process of internate sharing and email.

• It often contains humorous content and include televised comedy sketches.

• A viral video is any video that's passed electronically, from person to person, regardless of its content.

Viral marketing at Bingo

• ITC's Bingo has always been known for their adoption

of different kind of advertising strategy.

• They have launched a new viral developed by

Contests2win. It is in essence a spoof on the long

winding saas bahu soaps on T.V.

SWOT Analysis

SWOT ANALYSIS

STRENGTHS:

• Well established network

•16 different flavours

WEAKNESS:

•New entrant in market•Tough competition

OPPORTUNITIES:

•Fragmented Market•Few Players

THREATS:

•Unorganized Market•Stiff Competition with

Regional Players

Conclusion

• Frito Lays still holds the greater share of

market as compared to ITC’s Bingo

• Bingo is expected to grow very fast and will

be a major threat to its competitors.

Thank You