PTC is a large trading conglomerate in India. In 2013, its Food division decided to enter the fast growing snacks segment, an altogether new market segment for the group. In this segment, it had only one national competitor – Trito. After 3 years, PTC’s new snack brand – Ringo, captured 20% market share across India. Fingo introduction coincided with the Cricket Word Cup which was hosted in India at the time of the launch. The snack market in India is estimated to be about $700 million. PTC could take advantage of its existing distribution network and easily source potatoes (used to make its snacks) from farmers with whom it already enjoyed strong supplier arrangements.
Before PTC entered the market it established a cross-functional team to manage the project. The team commissioned a series of customer survey through a
Industry sources revealed that PTC spent about $70 million on advertising and undertook an integrated campaign that included print and electronic along with digital and social media advertising. This included the creation of its own website (www. ringoingoyougo.com) with offers of online games, prizes and contests etc. Mobile phone downloading was also planned, which proved very popular among teenagers. The website was extensively promoted in mass and social media. Additionally, PTC also undertook extensive advertising on the major cable networks, TV and radio stations in about 60 cities with large teen populations.
Analysts believed that Fingo success owed a lot to PTC’s widespread distribution channels, aggressive advertisements along with its clever selection of flavours. The humour appeal in its advertising was also considered a big success. The “Ringo” brand was made visible by painting the name on the trains that crisscross all the major cities daily. PTC was also successful in gaining placement in the biggest supermarket chain in India as well as in other major retailers. Since its entry in the market, Trito’s share has already been reduced considerably. Retail tie-ups, regional flavours, regional humour appeals have helped PTC. But PTC isn’t content. It still wants a bigger share of the market and was even looking at export opportunities.
Question
Identity 5 strengths of PTC as outlined in the case
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