BRANDING – DEFINITION
American Marketing Association defines brand as, ‘A name, term, design, symbol, or any other feature that identifies one seller's good or service as distinct from those of other sellers. The legal term for brand is trademark. A brand may identify one item, a family of items, or all items of that seller. If used for the firm as a whole, the preferred term is trade name.’
ITC’s Bingo brand of chips was launched on 14th march 2007. The market was dominated by Frito Lay Group. They had a set of brands like Lays, Kurkure and Uncle Chips which collectively held nearly 50% of the market share. Ten months after ITC bingo was launched, it grabbed 16% market share in the market across country.
The brand and branding aspects of ITC Bingo is stated below;
Brand name: BINGO
Tagline: No confusion, Great combination
LOGO:
Why this brand name?
The brand name ‘Bingo’ is catchy and appealing its target audience. It has a musical sound that is unique and appreciated by its audience. This musical property of bingo gives the brand a better brand recall and identity.
Target and Segmentation:
Bingo targets youth audience who fall under the age group of 20-25. It segments its TG as a outgoing and fun loving people.
POSITIONING:
Bingo positioned itself as a youthful and innovative snack, offering the consumers with choice in terms of both formats and flavors including local tastes.
POPs and PODs
POP(Point of Parity): In a particular product category, the features that are similar between the product and its competitors
POD (Point of Difference): In a particular product category, the features that differentiates a brand with its competitors.
POP and POD of Bingo and Lays
BRAND IDENTITY:
The brand identity that bingo has is explained in the ‘brand identity prism’ figure shown below.
Product variants:
Bingo! Yumitos - 'Take a Yumitos Break
Bingo! Mad Angles - "Har Angle se Mmmm..."
Bingo! Tedhe Medhe - "Har Stick mein alag twist..."
Bingo! Tangles - "Khaoge to Khilaoge..."
Brand Equity:
Brand equity is the added value endowed to a product or service. It may be reflected in the way the consumers think, feel, act with respect to the brand as well as its prices, market share, and profitability the brand commands.
Brandasset Valuator Model:
This model suggests that there are four key components of brand equity.
Energised differentiation measures the degree of which the brand is seen differently.
Relevance measures the appropriateness and breadth of the brand’s appeal.
Esteem measures the perceptions of quality and loyalty
Knowledge measures the brand awareness.
Bingo has differentiated itself has an Indian snack that is cool trendy and fun. Its tagline suits the image that bingo is creating to its audience. Since bingo is a low cost fast tangible product, the esteem that it holds is not very high. The brand also has managed to create a lot of awareness among the consumers through various attractive ads and promos.
American Marketing Association defines brand as, ‘A name, term, design, symbol, or any other feature that identifies one seller's good or service as distinct from those of other sellers. The legal term for brand is trademark. A brand may identify one item, a family of items, or all items of that seller. If used for the firm as a whole, the preferred term is trade name.’
ITC’s Bingo brand of chips was launched on 14th march 2007. The market was dominated by Frito Lay Group. They had a set of brands like Lays, Kurkure and Uncle Chips which collectively held nearly 50% of the market share. Ten months after ITC bingo was launched, it grabbed 16% market share in the market across country.
The brand and branding aspects of ITC Bingo is stated below;
Brand name: BINGO
Tagline: No confusion, Great combination
LOGO:
Why this brand name?
The brand name ‘Bingo’ is catchy and appealing its target audience. It has a musical sound that is unique and appreciated by its audience. This musical property of bingo gives the brand a better brand recall and identity.
Target and Segmentation:
Bingo targets youth audience who fall under the age group of 20-25. It segments its TG as a outgoing and fun loving people.
POSITIONING:
Bingo positioned itself as a youthful and innovative snack, offering the consumers with choice in terms of both formats and flavors including local tastes.
POPs and PODs
POP(Point of Parity): In a particular product category, the features that are similar between the product and its competitors
POD (Point of Difference): In a particular product category, the features that differentiates a brand with its competitors.
POP and POD of Bingo and Lays
Points of Parity:
- Both are potato chips
- Same TG
- Same pricing strategy
Point of Difference:
- International Indian taste
- The quantity is different (more in Bingo)
- Comparatively more variance in flavors.
The brand identity that bingo has is explained in the ‘brand identity prism’ figure shown below.
Product variants:
Bingo! Yumitos - 'Take a Yumitos Break
Bingo! Mad Angles - "Har Angle se Mmmm..."
Bingo! Tedhe Medhe - "Har Stick mein alag twist..."
Bingo! Tangles - "Khaoge to Khilaoge..."
Brand Equity:
Brand equity is the added value endowed to a product or service. It may be reflected in the way the consumers think, feel, act with respect to the brand as well as its prices, market share, and profitability the brand commands.
Brandasset Valuator Model:
This model suggests that there are four key components of brand equity.
Energised differentiation measures the degree of which the brand is seen differently.
Relevance measures the appropriateness and breadth of the brand’s appeal.
Esteem measures the perceptions of quality and loyalty
Knowledge measures the brand awareness.
Bingo has differentiated itself has an Indian snack that is cool trendy and fun. Its tagline suits the image that bingo is creating to its audience. Since bingo is a low cost fast tangible product, the esteem that it holds is not very high. The brand also has managed to create a lot of awareness among the consumers through various attractive ads and promos.
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