Marketing mix product strategy
Bingo positioned itself as chips with an Indian twist. The 16 flavours introduced at launch were carefully developed through R&D. The initial offerings were a mix of potato chips and finger snacks. The potato chips segment includes variants like masala, salted, tomato inspired by snacking habits of Indian consumers. The offerings under finger snacks include Pakoda (Live Wires) and Khakra (Mad Angles). These offerings were further differentiated by providing SKU’s at Rs., Rs. 10 and Rs. 20 Marketing Mix Pricing Strategy.
The main objective for ITC was to compete effectively with the existing players. Hence, ITC launched a direct frontal attack by introducing similar priced SKU’s. ITC already enjoyed cost advantage over competitors through its eChoupal initiative. This also facilitated timely supply of raw materials. ITC’s printing and packaging business also lead to high quality, cost effective and innovative packaging
Order custom essay Bingo: marketing mix with free plagiarism report
Marketing Mix Promotional Strategy
Bingo was strategically launched at the time of world cup to cash in on the popularity of snacks among the cricket lovers of the country. The advertising strategy revolved around slapstick humour and irrelevant themes to hold eyeballs, garner attention and interest, and stand out from the clutter. ITC booked 10 to 15 spots per channel per day, 20 spots on radio stations supported by thousands of hoardings advertising the product.
According to industry estimates, the total advertising spent in the initial 6 months were roughly 100 crores While its competitor Frito-Lay focussed on celebrity endorsements, Bingo chose a different route. Since the product is aimed towards the young population, digital media was heavily used. For instance, the Bingo National Gaming Championship across 4 cities with more than 25000 participants.
Marketing Mix Distribution Strategy
ITC already had a well-established distribution network through its cigarette and tobacco related offerings which were leveraged for Bingo Further, the company distributed around 4 lakh racks across all retailers to display the brand at all Points-of-scale. Within 6 months Bingo was available across 250000 retailers in the country. A crucial alliance with Future Group led to all future group retail outlets like Big Bazar, Food Bazar stocking only ITC’s Bingo. HORECA (Hotels, Restaurants and Catering Sector), Local betel shops are all being used to distribute Bingo to a wide range of audiences
Variety and innovation in a largely undifferentiated market. Foray into the “Health Snacks” segment by introducing Bingo as Baked Chips. ITC launched Bingo in 16 flavours to cater to the tastes of the country.
Did you know that we have over 70,000 essays on 3,000 topics in our database?