Week 1.2 Marketing strategy and understanding competitors
The main product for Lays is potato chips, which has already sold in all around the world. We can buy it in a normal supermarket. The mission of Lays truly is the world's favorite snack and is always within arm's reach(profile, 2013). Lays wants to become the leader of snack market and the customer’s favorite snack.
Lay’s has high market share comparing with other potato chips brands, so there are no generic competition can effect on the market of Lays potato chips. The direct competitor is Pringles, which also offers potato chips, this brand selling is world top 3(The Top 10 Bestselling Potato Chips, 2016). However, the big difference is the package, the Pringles only use paper roll as package. The Pringles selling price is higher than Lays in the same weight.The main competing product is Ruffles, but this brand has different taste potato chips manufactured by Frito-Lay, which is also same as Lay’s potato chips.
To sum up, Lays absolutely takes up the main market share of potato chips. The most stronger competitor is themselves. In another word, It is necessary to overcome the healthy issues caused by eating potato chips. The Lays will be the marketing leader of potato chips for long time. In my opinion, the competitive position is market leader for Lay’s chips. The Lays have a majority of industry sales and market share.
Lays company provides good brand reputation for customers. Comparing with other brand of potato chips, which is best differential advantage. Because when the customer or the potential customer is willing to buy some potato chips, the Lays could be the first brand in their mind. As we all know, the Lays belongs to the band of Pepsico, which is really famous snack brand in the world. the customer will believe this brand and buy the products.
Lays growth strategy is market penetration, which means the market already familiar with customers. People know this brand and product for long time.
References:
Profile, V. (2013). FRITO-LAY MISSION STATEMENT. Dangerouslycheese-z.blogspot.nl. Retrieved 14 September 2016, from http://dangerouslycheese-z.blogspot.nl/2013/02/frito-lay-mission-statement.html
Lays Chips logo, Vector Logo of Lays Chips brand free download (eps, ai, png, cdr) formats. (2016). Logotypes101.com. Retrieved 14 September 2016, from http://www.logotypes101.com/logo/lays-chips
The Top 10 Bestselling Potato Chips. (2016). TheRichest. Retrieved 14 September 2016, from http://www.therichest.com/expensive-lifestyle/food/the-top-10-bestselling-potato-chips/
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