The Marketing mix of Bingo analyses the 4Ps of Bingo’s marketing strategy, which includes the Product, Price, Place, and Promotion of Bingo. Bingo is one of the major food brands in India and markets its products under the flagship of its parent company, ITC. It is a famous chip brand introduced in the consumer market in 2007 by its owner company. Some of the main competitors of this brand are as follows –
- Frito Lay Group
- Kurkure
- Lays
- Uncle Chips
- Haldiram Group
About Bingo
- Type: Snack food company
- Industry: Food and Beverages
- Founded: March 2007
- Founders: ITC Limited
- Headquarters: Kolkata, West Bengal, India
- Area served: India
- Current CEO: Sanjiv Puri
- Number of employees: 10,000+
- Major products: Potato chips, tortilla chips, finger snacks, namkeens
Table of Contents
Bingo Product Strategy
Bingo, a popular snack brand in India, offers a diverse range of brands of products, primarily in the snacks segment. The new Product Mix of Bingo in 2023, is as follows (Source).
- Potato Chips: Bingo offers a variety of flavored potato chips, known for their unique and innovative flavors catering to the Indian palate.
- Mad Angles: A range of triangular-shaped snacks, Mad Angles are known for their tangy and spicy flavors, popular among those who enjoy bold tastes.
- Tedhe Medhe: These are twisted, irregular-shaped snacks that come in various regional flavors, appealing to consumers looking for something different from traditional snacks.
- Yumitos: This line includes more traditionally flavored potato chips, appealing to consumers with a taste for classic snack flavors.
- No Rulz: These are multi-grain snacks that come in innovative shapes and flavors, targeting a younger audience looking for fun and quirky snack options.
Bingo Place Strategy
“Bingo brand has made sure that it makes new inroads in both rural and urban markets and hence has made its products easily available at every possible store across the country. As a subsidiary of a bigger brand like ITC, its distribution channels are far and wide. The brand has tried to adopt a micro-distribution policy to gain better reachability. Hence, buying a pack of Bingo is possible even in the remotest part of rural India.
Bingo has a sound product design and a good supplier base, and its suppliers provide raw materials like spices, potatoes, and other ingredients at lower costs. The distribution channel of a company is based on the tried and tested policy of the manufacturer to the dealer and consumers through several possible mediums like grocery stores, discount outlets, convenience stores, and supermarkets. The company has provided incentives to its dealers and retailers so that they encourage product sales.
Here’s the Place Strategy of Bingo:
- Wide Retail Distribution: Bingo snacks are widely available across India in various retail outlets, including supermarkets, grocery stores, convenience stores, and local Kirana shops, ensuring easy accessibility for consumers.
- Online Presence: Recognizing the growing trend of online shopping, Bingo snacks are also available on e-commerce platforms, catering to the convenience of digital-savvy consumers and expanding their reach.
- Urban and Rural Market Penetration: Bingo focuses on penetrating both urban and rural markets, making its products available in cities, smaller towns, and rural areas to tap into a broader customer base.
- Strategic Placement in Stores: In retail environments, Bingo products are strategically placed in prominent locations, often in snack aisles or at checkout counters, to maximize visibility and impulse purchases.
- Collaborations with Distributors and Retailers: Bingo works closely with distributors and retailers for effective supply chain management and to ensure consistent availability of their products across diverse geographic locations.
Bingo Pricing Strategy
Brand Bingo was launched to capture at least 25% of the market share in the first few years. The brand adopted an aggressive pricing policy to attract new customers and currently charges 16% of the snacks market. To compete successfully, the company has allotted minimum product prices of Rs 5, 20, and 10. To add a competitive edge, as almost every company offers different flavors in the same price range, Bingo has added more weight to its product packet.
A ten rupee packet offers 45 grams of product compared to its rival company, which provides the same quantity at 15 rupees. Its pricing strategy has been successful because of consistently lower prices and providing more value for money. To gain a new consumer base and increase sales, the brand offers odd discounting schemes like 33% extra with a pack.
Bingo employs a strategic pricing approach well-suited to India’s competitive snack market. Here’s an analysis:
- Competitive Pricing: Bingo positions its products at competitive price points, closely aligning with the pricing of other snack brands in the market. This helps in attracting price-conscious consumers and maintaining market share.
- Psychological Pricing: They often use psychological pricing tactics, like pricing products slightly below round numbers (e.g., Rs. 19 instead of Rs. 20), making the snacks more appealing to cost-sensitive customers.
- Volume-Based Pricing: Bingo offers different package sizes at various prices, catering to different consumption needs and purchasing capacities. This strategy encourages trial purchases by new customers and bulk buying by loyal consumers.
- Promotional Pricing: The brand frequently uses promotional pricing strategies, including discounts and combo offers, especially during festivals and special events, to boost sales and attract customers.
- Dynamic Pricing for New Product Launches: Bingo may offer introductory prices to encourage trial and adoption when introducing new flavors or products.
Overall, Bingo’s pricing strategy is a blend of competitive and psychological pricing, complemented by volume-based business and promotional tactics, aimed at capturing a wide customer base in the diverse and price-sensitive Indian market.
Bingo Promotion Strategy
Bingo has become a famous brand and has adopted an aggressive policy for advertising and marketing its products. It wants to penetrate the competitive market for snack foods, so it has decided to introduce innovative campaign policies and catchy advertisements. The brand has advertised its commercials through every possible means at its disposal. Ads are aired on radio and television and displayed in newspapers, billboards, and magazines.
During the first six months, the company booked nearly 1000 hoardings, 20 spots on radio, and 10-15 spots on most channels daily to promote it. It spent about 100 crores as the promotional policy during that time. Bingo also emphasized packaging and made it eye-catching so that it could attract the attention of its customers. It also provides incentives like 33% extra with every pack, and these odd numbers help create positive brand awareness.
Some Recent Video ads and Print ads of Bingo are:
Bingo! Original Style – Taste so original, duplicate is impossible! | Hindi | 30 sec – YouTube
Bingo! Mad Angles Crazy Eye Doctor Ad 30s – YouTube
Bingo! Mad Angles resolves vision woes in new campaign with ‘Mmmm’ miracle: Best Media Info
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