Published by MBA Skool Team, Last Updated: December 18, 2017
Marketing Strategy of Bingo analyses the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). There are several marketing strategies like product innovation, pricing approach, promotion planning etc. These business strategies, based on Bingo marketing mix, help the brand succeed.
Bingo marketing strategy helps the brand/company to position itself competitively in the market and achieve its business goals & objectives.
Let us start the Bingo Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
Bingo Product Strategy:
The product strategy and mix in Bingo marketing strategy can be explained as follows:
Bingo is a leading snack brand from ITC which is available in every corner of the country. Bingo produces Potato and flour based chips in different flavours and shapes to offer variety. It has a wide offering in its marketing mix product strategy. Bingo basically has 4 offerings that come in various flavours – Yumitos, Mad Angles, Tedhe Medhe and Tangles. This allows a customer to choose from a number of available options. Chips come packed in different weights and can serve different hunger needs.
Image: company website
Bingo Price/Pricing Strategy:
Below is the pricing strategy in Bingo marketing strategy:
Brand Bingo is competing with some of the most established FMCG brands in the country today.
Hence, it has to be smart while being aspirational about the market share. Currently the brand enjoys a good 16% but it has always aimed for a quarter of the entire market, which it is arriving at slowly and steadily. The strategy here is to provide more quantity at the same price at which other brands sell their chips at. A single packet of Bingo consists of nearly 49 grams of chips while Frito Lays packets consist much lesser. Prices for a Bingo packet vary on the basis of weight of the packet.
Bingo Place & Distribution Strategy:
Following is the distribution strategy in the Bingo marketing mix:
For the success of brand Bingo, it is important that it has a wide distribution network that is efficient to reach every urban and rural household. Under the Parent brand ITC, Bingo enjoys an extensive distribution network that helps the brand with a good reach. For Bingo to be profitable it needs to produce at a good price and for this the procurement of raw material needs to be carried out at the lowest possible cost. Good enough for Bingo, it has a great supplier base that maintain consistency with their supplies and provide the same on timely basis at a good price. The excellent distribution shows its strong marketing mix place strategy.
Apart from grocery stores and retail outlets, the snacks are available on ecommerce platforms as well.
Bingo Promotion & Advertising Strategy:
The promotional and advertising strategy in the Bingo marketing strategy is as follows:
In a cut throat market like this brand awareness is extremely important. Bingo has used every possible medium to reach to its target consumer. Heavy weightage is given to Television, which the right kind of potential customers watch. Outdoors are also invested in heavily. Bingo has used up over 1000 hoardings across India during its campaigns throughout. Advertisements are played on radios, social media campaigns have been organized, etc. Besides these, marketing actually succeeds at the final stage of buying chips, on the shelves in a super market or a general store. Bingo has kept its packaging attractive for customers, so they choose the brand simply by looking at the packaging. Thus this gives an insight in the marketing mix of Bingo.
Bingo is one of the most successful players in the potato chips market within India. It operates under parent company ITC. Bingo was launched in the year 2007 and has come a far way since then. The brand currently enjoys a market share of 16%, ranking third from the top and following Frito Lay and Haldiram brands.
This particular market is stuffed with competitors and the brands within the market face many threats. As an ever growing business, there are number of new entrants which push a brand to innovate and market their brand better.
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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