Although it is too early to praise Bingo or ITC on their success, I feel that getting the brand to a market share of 16 % is something commendable. Bingo now aims for 25 % of the Rs 2000 crore branded snack market. The share of Lays have reduced from 65% to 45%.
The brand had made a base for itself. There are various factors that aided the success of Bingo.
High Decibel Advertising : Although I have reservations about the quality of ads, Bingo was able to capture the Share of Noise through its heavy spend. Helping that was the latest move of Lays to change the famous tagline to " Har Program ka Main Food"
Novelty Factor : The snack market is driven by impulse purchases and Bingo had the advantage of the ITC parentage that encouraged consumers to try out the product without much inhibition.
Regional Flavors : This is where Bingo beat Lays in their own game. Lays was the first to localise flavors but Bingo specialized on local flavors and the key differentiator was the Localized flavors.
The war has started and for marketers and customers, its going to be a treat.