Food can be described as any substance that is consumed to provide nutritional support to the body. Food contains carbohydrates, minerals, fats, proteins and vitamins to support the growth of the body. The concept of packaged food came into existence owing to factors such as easy cooking, consumption, handling, and safety from external tampering.
Doolin entered a small San Antonio cafe and purchased a bag of corn chips. Little did he dream this savory chip would become one of the nation's most popular snacks. Meanwhile, that same year, Herman W. Lay began his potato chip business in Nashville by delivering snack foods.
Not long after, Mr. Lay purchased the manufacturer, and the H. Years later, inthe Frito Company and the H. Lay Company merged to become Frito-Lay, Inc. Introduction This marketing plan provides an outline of strategies of action in marketing Frito Lay. Frito Lay refers to the division of PepsiCo Inc.
In this paper, the four pillars of marketing such as segmentation, targeting, positioning and communication strategies are discussed.
Moreover, the general courses of actions or activities are likewise presented. Segmentation Segmentation is the division of the market into various homogenous groups.
Basically, Frito Lay products are generally marketed to the Hispanics prior to targeting the general market. Frito Lay has Mexican roots which explain why the Hispanic market was the initial market segment. The attractiveness of the market is evident on the strong needs for snacks among all segments.
Nevertheless, the focus of segmentation is on penetrating the teen segment. As such, while the Hispanic population likes bold and spicy flavored snack, there is high influence on kids in making snack purchase decisions, emerging Y generation has purchase power and busy lifestyles demand food on the go.
Further, Frito Lay is a leader in the dip market but since there are many competitors in the market the company decided to penetrate the vegetable dip segment. This is in addition to chip dips segment particularly the shelf-stable sour cream based dip and other chip dips which are already in the mature stage of its lifecycle.
Targeting Targeting is the identification of audience to which a product will be marketed. As already noted the Hispanic population is the initial target market but now also includes the generations X and Y.
Teenagers make up a considerable percentage in the marketing activities of Frito Lay especially since they are very particular with value of money.
Positioning Positioning refers to the creation of image in the minds of the target market. Frito Lay indulgence that offers extreme taste, crunch and flavor is the value proposition. With this, it is critical that a well-developed product mix should be use wherein the loud image and the bold flavor of Frito Lay products could be highlighted.
These are generally under the food on the go category which could be also considered as convenience foods.The organised snack market is worth over Rs 2, crore and has two big players in the form of FritoLay India with brands such as Lays, Kurkure etc and ITC with its Bingo!
There are also brands like Haldirams, Balaji etc as well. We have targeted the entire chips market based on the geographic segmentation, demographic, psychographic, and behavioral factors. Geographic: At the beginning our entire market will introduce our product in six Metropolitan cities.
Various CHIPS industry such as Lays, Uncle chips, and fun pop etc. design various integrated marketing program. Although common objective of all IMC program is increase brand awareness, sale and design a unique image in customers mind.
In order to address and attract customer all chips industry. The market is dominated by Pepsico, which with a market share of 38%, has more than a third of the market.
Pepsico’s leading products are Lays, which has ~50% share of the chips segment; and Kurkure, which has over 50% share of the extruded snacks segment.
Potato Chips and Crisps Market: Region-wise Outlook. The report segments the global potato chips and crisps market on the basis of geography into North America, Europe, Asia Pacific, and the Middle East Location: State Tower, 90 State Street, Suite , Albany, Lay’s Classis Potato Chips are now also targeting the younger generation, that is the teenagers who enjoy tasty snacks with is affordable.
Target market of Lay’s Classic Potato Chips Market Segmentation of Baked Lay’s Chips Baked lay’s Chips target the people who either are health conscious and/or weight conscious and people with health problems.