Itc Biscuit Strategy
A Case Study on Creating Biscuit Segment Frontier ITC Limited
Abstract
ITC is India 's foremost multi-business enterprise with its robust portfolio of traditional and Greenfield businesses.ITC found opportunity and decided to enter the foods segment as there was a lot of scope for the branded player. Findings revealed that consumers wished to taste new and innovative products. That was precisely what the competition had not done in a big way. So ITC has taken a calculated risk. ITC stuck to category favorites like Glucose, Marie and Bourbon cream. Along with that, it also launched innovations such as orange-flavored Marie, Marie light and butterscotch-flavored cream biscuits, Sunfeast Milky Magic, Sunfeast Snacky and Sunfeast Golden Bakes.
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It is employing strategy in wooing biscuit segment with improved new, innovative, quality, safety and hygiene standards products. The company’s principal product was cigarette. As the time passed the company started growing and became a reputed brand in the cigarette division. Also the company diversified its business to other sector like FMCG, Hotels, Paper boards and Packaging, Agri business, and IT.Among the industries,ITC found immense opportunity in the Indian biscuit market for launching branded biscuits.It felt the consumers pulse for new, variety and innovativeproducts.It has become strategically successful in cream and cookies segment overcoming the completion.For ITC there are many marketing challenges. Each tackling of different marketing situation has made ITC the top player in the biscuit segment.
OBJECTIVES OF THE STUDY
1) The major objective of the research is to understand the significance of marketing strategy of ITC for its biscuit segment launch.
2) To find out the benefits company is giving for a better customer value.
3) To understand how the strategic components of marketing plan ITC is employed for its customers.
4) To cognize the tactical marketing components of marketing plan ITC is employing for its customers.
5) To know about competitiveness of ITC in countering the marketing challenges.
RESEARCH METHODOLOGY
Research methodology depends, to a large extent, on the information, and how easy or difficult to access it. This study is based on secondary data for findings and conclusion.
DATA
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