Bingo Chips Strategy

Bingo Chips Strategy

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Bingo Chips Strategy

The Bingo brand of chips was launched by ITC on 14th March 2007 with an aim to capture at least 25 percent market share of the Rs 2000 crore branded snack market within five yrs.

This was an extremely ambitious target according to observers as the market was dominated by the Frito Lay group (owned by Pepsi Co) with a slew of brands like Lays, Kurkure and Uncle Chipps holding 50 per cent of the market share. The other was the Haldiram group with 25 percent of the market share.

The organized snacks category is subdivided into the Traditional segment (Bhujia,Chana etc) dominated by Haldiram. The second category is the Western segment(potato chips,cheese balls,puffs etc) and the Finger snacks segment which is an adaptation of traditional snacks to the western format. The latter two categories are dominated by the Frito Lay group. ITC has launched an aggressive marketing campaign to gain entry into and capture a sizeable market share in the extremely competitive world of snack foods.

The success of Bingo’s marketing strategy can be attributed to the following 4 Ps:-

1. T.V. Ad Campaign
2. Assortment of flavors and eye catching packaging
3. High availability at big and small retailers across the country
4. Pricing Strategy

1.
Bingo’s launch was strategically timed around the World Cup to cash in on the tremendous popularity that such leisure and cocktail snacks would find among cricket lovers in the country. So cricket lovers could enjoy their favourite matches while savouring an all-new range of innovative Bingo snacks during the World Cup. The idea is to get the consumer to take that first bite. Not only the flavours but also the advertising was supposed to have an Indian touch!
The advertising strategy used humour to sell Bingo. The advertisements were well received by the audience. The notable ones included the Bingo is the crunchier potato chips ad, to the Tamil learning bingo ad. The ones which followed were one in which a man is declared pregnant for his craving for Bingo Achari Masti and the Glad Bangles-Mad Angles advertisements. These advertisements were telecast on almost all channels-national, regional, sports, news and of course kids’ channels. This sudden media blitzkrieg of ads left a mark in the audiences’ minds and it showed. In certain areas, Bingo’s market share touched 50 per cent; in no market is it less than 15 per cent.
In April 2007 Bingo had also launched a website BingeOnBingo.com with an aim to target the youth online.

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Related Searches

It basically tried to engage the youth in a SecondLife type of environment to advertise ITC ‘s products.
Of late, many brands are choosing this new marketing strategy of virals to promote their products and the latest to join the bandwagon of viral ad campaigns is Bingo. It has recently developed its first viral ‘petkapaap.com’ for ‘Bingo Mad Angles - Achaari Masti’. Viral marketing uses social networks to create and spread brand awareness.

2.
The product offered is available in a wide array of flavours, shapes and sizes.
Mainly there are two categories of products-Potato Chips and Finger Snacks
The potato chips are available in many flavours inspired by the snacking habits of different parts of the country like Masala Chaas, Chatpata Nimbu and Paneer Tikka. In addition to these 4 flavours, the classic flavours of Masala, Tomato and Salted are also available.
The offerings under the finger snacks segment are equally unique and consist of pakoda inspired chips like Live Wires, Khakra inspired Mad Angles, and corn based chips like Tedhe Medhe.In all there are 16 variants of Bingo.

Bingo ensured the quality of its products due to the strong farm linkages of ITC which ensures only the selected grade of raw material goes into making Bingo chips.
The packaging of the product has been slick and eye catching. Bingo is available in packets in a myriad colors like orange, blue, red, yellow, green, purple. Not only do bright colors attract the attention of little children but also of adults. Snack food is an impulse buy. The brightly coloured stands with the Bingo label on top make it stand out in a shop. Bingo therefore is the most seen brand when you look for snacks, greatly increasing the chances of it being bought.

3.
The large, country wide distribution network of ITC built up over the years was a key factor in Bingo’s ubiquitious availability. As a result one can find a Bingo pack of chips even at the smallest shop in the remotest parts of India.In India the unorganized snacks sector is twice the size of the organized sector. So in small towns villages one won’t find a Lays or a Haldiram but a Bingo along with the local unbranded snacks. It also has entered into an agreement with the Food Bazaar chain of outlets for retail of its Bingo and other brands of food products. ITC Foods was counting on Lays and Kurkure not being around, when it entered the Food Bazaar chain. While backend sourcing tie-ups between the two had sweetened the relationship, the bottom line is Bingo, which is what you see most when you look for salted snacks. It's not just here that Bingo has struck at the small shops, to which it's offering a margin that's 4% to 5% higher than what Frito Lays is paying. Not just that, if the display is better, they get paid even more. ITC Food's largesse is largely to catch up with Frito Lay's national reach of 8 lakh outlets.

4.
The pricing strategy adopted by Bingo is a clever one. Bingo is priced the same as the Lays brand of chips at Rs10 for a 35g packet and Rs5 for the smaller one. A factor that aided Bingo was the failed pricing strategy of Lays in late 2007.Frito Lay had increased the price of Lays from Rs10 for 35g to Rs15 for 45g. That impacted the sales of Lays which finally went back to the Rs10 formula. By adopting a consistent pricing strategy and by offering higher margins to the retailers Bingo has won the retailers’ hearts.
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