Bingo

In: Business and Management

Submitted By ankitasrivastava
Words 740
Pages 3
Executive Summary
Having created a brilliant product, Bingo, which successfully brought about innovation in the snack market, Ram and Satya at ITC now are now facing problems in maintaining Bingo’s market share. Increased competition, Low quality cheap copies of the product, and low reach are the major drivers of the loss in market share. The task at hand is to improve Bingo’s performance, regain and increase its market share, communicate the brand proposition effectively and increase its reach in various parts of the country especially south. Getting trials with larger masses and maintaining the loyalty of existing franchise are a few potential ways of establishing connect with the customers. Clearly Bingo’s triangle shape is easily imitable, but the customer’s reasons for buying the snack are mainly its taste. The actual value proposition that the consumer seeks in bingo is the taste. In such a scenario, strategies for defense against copycats and discounted players need to be chalked out by communicating the actual brand proposition effectively. In addition, Bingo’s market penetration in Southern India is low as compared with the Northern India We see it as a huge opportunity for research regarding the consumer behavior specific to southern India, cater to their needs, increase reach and establish a solid base. In this analysis, we present our ideas, thoughts and recommendations on how to achieve the task at hand. Bingo’s war for sustenance has just begun!
The innovation so far: The stock of the situation
According to the Datamonitor Market overview report on Indian Savory snacks, the performance of the market is forecast to decelerate, with an anticipated CAGR of 13.7% for the five year period 2009-2014, which is expected to lead the market to a value of $1 billion by the end of 2014 (Exhibit 2). It is important…...

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