Be it the advertising, the content or marketing strategies, ITC surely knows how to attract eyeballs for its snack brand Bingo. The company has decided to add 50 percent more chips at the same price. At a time, where companies are cutting costs and coping with the recession, Bingo’s move seems to be stunning marketeers.Though the ITC officials believe that the strategy aims at “maximizing revenues by driving high sales volumes in the high potential western India market”.
Chitranjan Dar, Chief Executive, Foods Division, ITC, says schemes and promotions are a part of the marketing mix that are deployed at various times through the year. The objective obviously is to build a greater brand franchise through enhanced consumer experience and encourage repeat use and trials.
Bingo currently enjoys a 13 percent market share, while Lays has a market share of around 48 per cent, Parle’s Musst Chips and Musst Stix have a combined 5-7 per cent market share.
Similar offers are there across different regions of the country, though the exact quantum varies from region to region. Dar says the move has paid off as Bingo has attracted a sizeable number of new consumers.
Bingo has been in news for its “crowd sourcing” strategy that it applies in the various television commercials. Bingo has also managed to have an online presence with a website www.bingeonbingo.com which educates users about the current offers, online games, downloads and even mobile games.
ITC officials added that the company has several other surprises up its sleeve, which are at various stages of development and completion.
This is one brand which seems to be hitting sales right at the target. Now, this is what we call, Bingo!