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Case: Baking new brands

All Too Yumm products are baked not fried and have 40% less fats making them the healthier snack option

When the Kolkata-headquartered RP-Sanjiv Goenka group launched its brand Too Yumm, it also marked many firsts for the company. With an annual revenue of Rs 23,000+ crores, the conglomerates flagship companies include CESC, Firstsource Solutions, Philips Carbon Black, Spencer's Retail and Saregama. Too Yumm marks the groups full-fledged entry into the hard-as-nails FMCG category with a product line-up that left the consumer underwhelmed or impressed depending on chip and crisp loyalties. The products included wheat thins and foxnuts initially, followed by multigrain chips and veggie stix. Karare (essentially in a similar space as PepsiCos Kurkure and Bingos Tedhe Medhe) launched a

few weeks ago nationally. According to some experts the launch plan seems a bit muddled - six new product categories launched in less than two years but chairman Sanjiv Goenka differs, naturally. In an exclusive chat with Brand Equity at his corporate headquarters in Kolkata, Goenka says, The plan was always to launch differentiated products, but not all of them were meant to be our product-leaders. It is as per the plan, he adds, and the backbone of this plan is a dual claim - all Too Yumm products are baked not fried and have 40% less fats making them the healthier snack option, according to the company.

As per Amer Jaleel, group chief creative officer and chairman, MullenLowe Lintas Group, Too Yumm has taken the category norm and reinterpreted it. Even if it means taking on the might of a brand or the might of the category itself. While multi-grain chips and veggie stix helped create intrigue and buzz in the market, they did not get the brand entry into the mass mind-set neither from a consumer view nor at retail outlets. Thats mainly a function of its positioning higher-end product, unfamiliar flavours, higher price points and premium imagery. All things that are unlikely to make it a mass snack brand in a country like India, where snacking is a sport and the greasier it is the better.

With Karare the company plans to change status-quo. It wont be easy. Despite Virat

Kohli lending his face and name as Too Yumms brand ambassador, at a consumer and retail level theres always a lot of trepidation when it comes to stocking new and unknown formats. Karare, it seems, is the companys answer to these teething troubles.

For starters, the price point is Rs 5, which is a first for the brand that was initially priced Rs10 and 20. Currently, distribution is in around 2.5 lac outlets, which is expected to go up with Karare. Shares Anupam Bokey, CMO, RP-Sanjiv Goenka group (Fmcg business), At the national level 55 % of the market sits at the Rs5 price point, which was a black hole for Too Yumm initially. No longer, he says. Going forward Karare is going to be the number one brand for us because of its mass acceptance possibilities, Bokey adds. Currently the brand sales are around Rs 25 crore a month growing month-on-month. That would make the brand around Rs 250 crore (based on pre-Karare launch data).

While for multi-grain chips and veggie stix the sub-category had to be created from scratch,

in the case of Karare it has already been done by the plethora of players led by PepsiCos Kurkure and ITC Bingos Tedhe Medhe and many local players like Yellow Diamond, Balaji chips etc. There is already a familiarity with the product and ours is the baked version, shares Bokey.

Seema Gupta, associate professor - marketing, IIM Bangalore gives a thumbs up to the launch sequence and says, After having launched premium products its easier to get acceptance for mass products. Its more difficult to build a premium brand once you enter the

market with mass products. Thats a thumb rule of marketing, she adds.

The target set by Goenka for the FMCG Business: Revenue of Rs10,000 crore by 2025. The question is, are Indians ready to buy into the baked not fried story? Harminder Sahni, founder of consulting firm Wazir Advisors, says, the snacks category is quite complex. Healthy positioning is fine, but people need to love the taste first. If the brand cracks that then its a winner. Otherwise its yet another brand that got burnt, and not suitably baked.

The Snack Thaali

Total snack market size - Rs 25,000 crore

Western snack - Rs 16000 Cr & Ethnic snacks - Rs 9000 Cr.

Within western, the split is between:

Chips/Potato Wafers - Rs 6,000 crore (38% of the market)

Rest - a mix of Extrudes (Rs 4,900 crore), Bridges (Rs 3,700 crore) and Nuts (Rs 1800 crore) at ~62%.

What's on your plate?

Kurkure - Rs 1,600 crore (all variants)

Haldiram - Rs 5,000 crore

Bingo - Rs 1,200 crore (of which Tedhe Medhe is -Rs 800 crore )

Balaji - Rs 2,500 crore

Yellow Diamond - Rs 900 crore

In the total Salty Snacks market, Haldirams is the largest player with an ~20% Market share i.e - Rs 5,000 crore.

In the Western Snacks market, Lays is the largest player with an - Rs 2,400 crore market size and an - 10% overall market share

Instructions; You should aim to exhibit both objective and subjective analytical skills to complete this and demonstrate your strategic thinking abilities. make use of the concepts and frameworks and the insights

Read the case study and answer the following questions:

1. Identify and describe the new product category that RP-Sanjiv Goenka group launched. Discuss and justify the importance of product innovation and differentiation. (300 words)

2. What is the company expecting with the launch of Karare and why was it important

to launch them? (300 words)

3. Do you believe that launching a premium product first and then launching a mass

product helps in improving the mass products brand acceptance? Comment and justify using suitable argument. Discuss the differentiation focus strategy from Michael Porters proposed strategies for achieving competitive advantage and explain how it is applicable here. (300 words)

4. Which market subset of customers is the brand trying to target with the launch of Too Yumm? Describe the characteristics of the identified market subset. Discuss the importance of market segmentation and targeting. (500 words)