Lays is quite favorite brand worldwide. From selling delicious chips to launching new themed flavors, it's the most eaten chips at present. From being affordable by people, it is everyone's favorite. Lays was the best idea of Mr. Lays started during the early 1930s.
Striving in the food business needs a great marketing strategy and market mix. Several years of toil and patience combined with a plethora of great ideas makes a company strive. And Lays has it all. Lays competed with several other chips brands and emerged victoriously.
Lays - About
Lays - Marketing Strategy in a Nutshell
Lays - Target Audience
Lays - SWOT Analysis
Lays - Brand Positioning
Lays - Inbound Strategy
Lays - Social Media Campaigns
Lays - Celebrity-Endorsed Advertisements
Lays - Outbound Strategy
Lays - Marketing Mix
Lays - Promotion Strategy
Conclusion
FAQs
Lays - About
Lays chips are more famous because of their packaging and a great variety of flavors. Every country has its unique flavors. Some even have limited-edition flavors that attracted customers to try it out, Lays. As a food business, it started in 1940, which is more than eighty years from now.
The company had two owners. From the year 1940-1961, it was owned by Herman Lay. He brought the Georgia-based chip manufacturer 'Barrett Food Company'. He then renames it as 'H.W. Lay Lingo & Company'. Lay went to the southern United States, selling the product from the trunk of his car.
In 1961, the brand Lays in combination with the Frito Company was owned by Charles E. Doolin. Lay's merged to form Frito-Lay Inc. Soon this became the most well-known brand of chips, being sold worldwide, with its production units spread throughout the world.
Lays - Marketing Strategy in a Nutshell
The marketing strategy of Lays is something that needed exceptional planning. The brainchild of Mr. Harman Lay Lays is something that he started as a small brand. He took great pains selling these himself from the trunk of his car. Finally, he gained recognition. After its partnership with Frito, it came to be owned by PepsiCo. The marketing strategy includes:
1. The target and position strategy calculates where this brand is more popular. Hence, more units of production are set up there.
2. Getting celebrities to the campaign: Several celebrities have become campaigners for this brand of chips, which makes people buy it more.
3. Affordability: Each pack of these chips comes with great affordability. People from any segment of society can but this.
4. Diverse flavors: The different flavors make it even better as each person can choose whatever their taste buds demand.
5. Advertising: Lays has a great advertising scheme for its great taste and flavors. It makes people want to try it.
Lays - Target Audience
Lays target every segment of society which includes every age group and every gender. It's the snack that is everyone's favorite. Its various flavors help its diverse audience to choose from a varying number of options.
As chips was a staple diet in America, it soon started to be eaten by all. In other countries, chips soon became a tea-time snack and were loved by everyone.
Vibhavari Madki
Lays - SWOT Analysis
According to the SWOT analysis of this brand:
The strength of this brand includes
1. Global and local flavors: Lays have various flavors to suit the tastes of everyone.
2. Partnership with Frito: this is the most beneficial partnership Lays created.
3. Wide distribution: It is available.
4. Local campaign: This lets it win the hearts of a majority of the audience.
The weaknesses are:
1. People have reduced snacks consumption due to health issues.
2. Many other brands are also gaining popularity.
3. The threat to lays includes competition among lays and other chips brands.
Lays - Brand Positioning
The position of a brand in the market determines how popular it is. Positioning is crucial for the brand as it builds trust for the brand. Also, a high Positioning brand provides tough competition to the other brands of the same type. Lays as a brand is at one of the top positions.
The maintenance of brand position is mandatory. Lays has several good crafter strategies to stay elevated. Its advertising, campaigns, new flavors in every country are some strategies that push its position to the very top.
Lays - Inbound Strategy
The inbound strategies include ways to attract customers includes several Paytm codes inside the chips packets. Lucky draws and a chance to meet celebs are the perks.
At times, the cafe's free packets of chips given along with coke have made customers want to get it in more numbers. Every pack shows the extra amount of chips that it contains. It is a major attraction and a rather clever way to make people buy the chips.
Lays - Social Media Campaigns
The main feature of mobile campaigns is that online images, videos, and shorts would be available for people enjoying this snack. The platforms such as Instagram, followed by Twitter, and Facebook helps to advertise these products. As people have increased the use of mobile phones, ads on phones are more effective. Also, there is the 'Flavour trip.' It includes a giveaway of foreign flavors. It was for social media users in which people with mobiles can easily take part.
Lays - Celebrity-Endorsed Advertisements
It is one of the most striking features of lays. Celebrities from different countries have readily agreed to star in the advertisement and posts of this brand.
In India, Lays brought Ranvir Kapoor and Alia Bhatt as its brand ambassadors. They are celebrities of India, and their presence in ads will make people buy these chips in more numbers. From the year 2014, football Lionel Messi has been featured in most of its campaigns. Mohammad Kaif, an Indian cricketer, was also starred in this campaign.
Alan Joseph
Lays - Outbound Strategy
The production and supply chain of this brand is high and quite complex in structure. It employs many people in its units. Along with it, the charge rests upon trustworthy distributors. Online sites like Amazon pantry, Reliance fresh, big basket, all contain this brand of chips as a product. An effective transportation system is of prime importance and timely refilling of stocks. In every country, the units are places under trustworthy owners who regulate the supply throughout the country.
Lays - Marketing Mix
Marketing mix means the mixture of all strategies that make a company or brand strive in the market. These strategies include the packaging followed, Positioning, People, Process. When these four are essential, a perfect marketing strategy comes into existence.
The marketing strategy is what made this brand strive. Proper care was taken of all the parameters of the brand. It slowly went to be top positioned with being named as a trustworthy brand. Its campaigns, advertising, and many production and distribution units are what made this company successful.
Lays - Promotion Strategy
It is the most important for the growth of a brand. Various strategies are present for the promotion of a brand. Some of these include using celebrities as brand ambassadors, using social media as campaigns, using attractive packaging, many different flavors, offers, and giveaways.
These strategies make people want to have these chips in more amounts. People today gain more influence from advertising. That's the prime strategy of Lays. Also, its expansion and availability worldwide, topped with its affordability, has made it one formidable competitor to the other chips brand. The well-crafted promotion strategy of lays is what made it go from a trunk of a car shop to one of the biggest brands in the world.
People
People play a crucial part in deciding how the brand is. In the of lays, nearly every person from kids to adults have tasted Its presence in many counties and wide range of flavors, makes people fall in love with this brand.
Physical evidence
The factories of lays are present everywhere. The iconic Frito Lays logo, which is present on the packages, is recognized by all. These chips are available in the smallest stores to supermarkets. Online sites also contain these chips. Different flavors are available online.
Pricing Strategy
The pricing of a product is essential as it tells about what segment of society can afford it. Lays as a brand of chips is affordable. People from every segment of society can easily buy it. Also, some limited edition packs contain Paytm codes, which was an important aspect of the pricing strategy.
Place and Distribution Strategy
This strategy says at what places the brand function should gain recognition. Lays started as a small shop in Georgia, having many units worldwide.
Lays sells its products in more than a hundred countries. More than 16 billion packets are produced by its units. It has a complex chain that links the production units with the distributors. They make sure that almost every snack store has these chips. After years of struggle, Lays has achieved this status. It has placed its production units worldwide.
Conclusion
In business, success comes when one sticks to a proper marketing strategy and an intelligent market mix. Lays as a brand has it all. It is the favorite of children, adults and old age people. Lays, which was the idea of Mr. Lays, started during the early 1930s and is a top brand worldwide today.
Nothing is impossible, and that's the message we get from the story of Lays. It took off with a scratch and soon became a well-loved brand among all, with even celebrities advertising for it. Its production and distribution are high along with its demand. It makes this brand a true success.
FAQs
Who owns the brand Lays?
PepsiCo via Frito-Lay owns the brand.
Who invented lays?
Herman W. Lay acquired a potato-chip company in 1932. He first sold his chips in Nashville, Tennessee.
When was Lays launched?
The owner of lays, Frito-Lay was Founded in September 1961 in North America.
Who is the CEO of Lays brand?
Steven Williams is the CEO of Frito-Lay, who owns the Lays brand.
Author: Sushree Sangeeta Behera
Source : https://startuptalky.com/lays-marketing-strategy/
Date : 2021-08-27T15:00:14.000Z