The Marketing mix of Sunfeast analyses the 4Ps of Sunfeast, including the Product, Price, Place, and Promotions. In 2003, ITC stepped into manufacturing biscuits and introduced the “Sunfeast” range that first dealt with biscuits and later with other food items. Since then, the brand name Sunfeast has been associated with quality as the brand has been known to offer wholesome biscuits that are innovative as well as delicious in taste. Within a short period, Sunfeast has made a name and place for itself, and at present, the brand is synonymous with contentment, cheerfulness, customer satisfaction, and happiness. Some of its main competitors are as follows-
- Type: Biscuit brand
- Industry: Food and beverage
- Founded: 2003
- Founders: ITC Limited
- Headquarters: Kolkata, India
- Area served: India and other parts of Asia
- Current CEO: Sanjiv Puri
- Number of employees: 15,000
- Major products: Biscuits, cakes, and cookies
Table of Contents
Sunfeast Product Strategy
Sunfeast has established its presence in the market of almost all biscuit categories and has become an essential player in the instant noodles and pasta segments. Besides launching the high premium quality biscuit range, it has wowed the customers with some innovative and exciting dual cream biscuits that have proven to be a delight for the consumers.
Sunfeast, a brand under ITC Limited, offers a wide range of products, primarily in the biscuits and cookies segment. Their product mix caters to various tastes and preferences, blending traditional and innovative offerings.
The new Product Mix of Sunfeast in 2023 is as follows (Source).
- Biscuits: Glucose Biscuits: Basic, energy-giving biscuits like Sunfeast Marie Light are famous for their light texture and taste. Cream Biscuits: Various cream-filled biscuits, such as Sunfeast Dark Fantasy, Dream Cream, and Bounce, are available in multiple flavors like chocolate, vanilla, strawberry, and orange. Cookies: Premium range of cookies, including Sunfeast Dark Fantasy Choco Fills, Mom’s Magic, and others, known for their rich taste and texture.
- Health and Digestive Biscuits: Digestive Biscuits: Products like Sunfeast Farmlite Digestive All Good cater to health-conscious consumers; Oats Biscuits: Oats enriched with oats, like Sunfeast Farmlite Oats with Almonds, target health-focused segments.
- Snacks: Savory Snacks: Sunfeast also offers savory snack options such as Sunfeast Yippee! Noodles cater to the instant noodle market with various flavors.
- Confectionery: Candy: The brand has ventured into the confectionery segment with products like Jelimals and jelly-based candies.
- Noodles: Instant Noodles: Sunfeast YiPPee! is a popular product in the instant noodle category, offering a range of flavors and variations, including tricolor pasta.
- Pasta: Instant Pasta: Expanding into the ready-to-cook segment, Sunfeast offers pasta products under the YiPPee! Brand, which is quick and easy to prepare.
- Beverages: Ready-to-Drink Beverages: Sunfeast also includes a range of ready-to-drink fruit juices, expanding its portfolio beyond solid food items.
Sunfeast’s product mix is a strategic blend of staple products and innovative offerings designed to cater to a wide range of consumers, from those seeking everyday biscuits to those looking for premium indulgences. The brand continuously innovates and expands its product line to meet evolving consumer preferences and market trends.
Sunfeast Place Strategy
Sunfeast has been able to penetrate the rural market as well as the urban Indian market deeply because of the well-established distribution channel provided by its parent company, ITC. The penetrative delivery and supply network was established with extreme efficiency and care. Sunfeast has been expanding its distribution channel to small villages and towns besides the cities.
The company is appointing new wholesalers with an increase in the number of stockists. The company is also tapping the e-Choupal network, which includes direct communication and working with the farmers to obtain materials and deliver the finished products. Its products are available easily in every nook and corner of the country because of its quality and efficient management.
The place in Sunfeast’s whole marketing strategy mix is significant because none of the FMCG companies can survive without the proper distribution network. It is only through the distribution of a package of products and far and wide distribution that FMCG companies can earn margins.
Sunfeast employs a strategic place strategy to ensure its products are widely accessible and available. Here’s an overview of five key points:
- Extensive Distribution Network: Sunfeast leverages ITC’s strong distribution network, ensuring its products are available in various outlets, from supermarkets to small neighborhood stores across urban and rural areas.
- Strategic Retail Placement: Products are strategically placed in retail outlets to maximize visibility and accessibility. This includes prominent supermarket shelf placement and positioning at eye level or near checkout counters in smaller stores.
- E-Commerce Platforms: Recognizing the growing trend of online shopping, Sunfeast has expanded its presence on various e-commerce platforms, allowing for easy accessibility to consumers preferring to shop online.
- Urban and Rural Penetration: The brand actively targets both urban and rural markets, tailoring its distribution intensity and product offerings to suit each segment’s purchasing power and preferences.
- International Presence: Sunfeast has also ventured into international markets, catering to the Indian diaspora and local consumers abroad, thus expanding its global footprint.
Sunfeast Pricing Strategy
There are varied pricing policies at play in Sunfeast. Some products are premium products, whereas others are more run-of-the-mill. Sunfeast Biscuits and Feast’s pricing policy is dependent upon several factors. Monitoring the customers’ needs and perceiving the amount of money an average household is prepared to pay is a difficult decision.
There are so many different sections in society with various tastes and demands, and to make its foods cater to the whims of each section of society, Sunfeast has decided to keep the pricing policy variable as well as competitive type.
They have introduced innovative food items such as Sunfeast dark fantasy that have caught children’s imagination, and the parents are prepared to buy them for their kids. The prices for such items are a little high, but discounts and schemes are launched regularly to decrease the actual cost.
Similarly, Sunfeast has the famous Yippie noodles and pasta products in a highly competitive segment where Maggi is the dominant player. Thus, in this premium segment, Sunfeast is using competitive pricing.
Lastly, cost-plus pricing is used for products like Sunfeast glucose and various other biscuits, wherein the competition itself uses cost-plus pricing, and there is hardly any differentiating factor other than the supply chain in the biscuits segment.
Sunfeast employs a nuanced pricing and distribution strategy that reflects its understanding of the diverse and competitive FMCG market. Here’s an expert breakdown of their approach:
- Competitive Pricing: Sunfeast positions its products competitively against other brands in the biscuit and snack segments. This ensures that while maintaining quality, the products are priced within reach of the average consumer, balancing affordability with brand value.
- Product Line Pricing: The brand adopts a tiered pricing strategy within its product line. Basic biscuits like Marie Light are priced affordably, catering to the mass market, while premium products like Dark Fantasy command a higher price, targeting a more upscale segment.
- Psychological Pricing: Sunfeast often employs psychological pricing strategies, such as setting prices just below a round number (e.g., Rs. 29 instead of Rs. 30). This creates a perception of value and affordability, encouraging impulse purchases.
- Promotional Pricing: The brand frequently uses promotional offers, discounts, and combo packs, especially during festivals or special events. This strategy not only drives sales but also encourages trial among new customers.
- Skimming Strategy for New Launches: For innovative or unique products, Sunfeast occasionally uses a price skimming strategy where products are initially introduced at a higher price point. This targets early adopters and helps in recouping the research and development costs.
- Regional Pricing Variability: Understanding the diverse economic landscapes of different regions, Sunfeast adjusts its prices to suit local purchasing power and competitive dynamics, ensuring relevance across various markets.
- Dynamic Pricing Based on Costs and Competition: Sunfeast regularly revises its prices in response to changes in raw material costs, manufacturing expenses, and competitive price movements, maintaining a balance between profitability and market competitiveness.
Sunfeast’s pricing strategy demonstrates a deep understanding of the urban market’s consumer base, market competition, and cost dynamics. It’s a blend of value-driven and market-oriented approaches, crucial for maintaining its strong position in the FMCG sector.
Sunfeast Promotion Strategy
To establish its brand name, Sunfeast did thorough market research, and after analyzing it, it decided to start its promotional activities. To make its brand a household name, it has launched exciting and innovative campaigns that denote the various qualities of its products, such as flavor and exclusive taste. With various biscuits, they have tried to target children and homemakers as these are the two deciding influences in an Indian household.
Famous actors and sports personalities have been signed to promote its range of food products. Sachin Tendulkar, the cricket icon, Shahrukh Khan, the superstar, and Sania Mirza, the tennis star has all been brand ambassadors at one time or another. Television, magazines, and newspapers have proved to be an effective and influential advertising medium as they can spread awareness among every age group. The slogan ‘Spread the Smile’ has become the brand’s essence, and the catchy and colorful ads have helped the company acquire a largeet.
Interestingly, Sunfeast spends more on advertising premium products or products in a highly competitive segment. Thus, you will find that the sunfeast marketing strategy is spending more on the Dark Fantasy line of products and Sunfeast pasta and noodles as these are the major stars for the brand.
Some Recent Video ads and Print ads for Sunfeast are:
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