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
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...