ITC was incorporated on August 24, 1910 under the name Imperial Tobacco Company of India Limited.
As the Company's ownership progressively Indianised, the name of the Company was changed from Imperial Tobacco Company of India Limited to India Tobacco Company Limited in 1970 and then to I.T.C. Limited in 1974 .
In recognition of the Company's multi-business portfolio encompassing a wide range of businesses - Cigarettes & Tobacco, Hotels, Information Technology, Packaging, Paperboards & Specialty Papers, Agri-business, Foods, Lifestyle Retailing, Education & Stationery and Personal Care - the full stops in the Company's name were removed effective September 18, 2001.
The Company now stands rechristened 'ITC Limited'.
Y C DEVESHWAR is the chairman of ITC Sustain ITC's position as one of India's most valuable corporations through world class performance, creating growing value for the Indian economy and the Company’s stakeholders ITC Vision To enhance the wealth generating capability of the enterprise in a globalizing environment, delivering superior and sustainable stakeholder value ITC Mission
ITC's foray into the Foods business is an outstanding example of successfully blending multiple internal competencies to create a new driver of business growth.
It began in August 2001 with the introduction of 'Kitchens of India' ready-to-eat Indian gourmet dishes.
In 2002, ITC entered the confectionery and staples segments with the launch of the brands mint-o and Candy man confectionery and Aashirvaad atta (wheat flour).
2003 witnessed the introduction of Sunfeast as the Company entered the biscuits segment.
ITC's entered the fast growing branded snacks category with Bingo! in 2007.
In eight years, the Foods business has grown to a significant size with over 200 differentiated products under six distinctive brands, with an enviable distribution reach, a rapidly growing market share and a solid market standing.
In September 2010 , the brand launched its noodles brand extension- Sunfeast Yippee.
Indian noodles segment has now become a huge market worth Rs 1200 crore .
Maggi is the market leader with a whopping 70% market share
( Business Standard).
A huge market with one major market leader is definitely an attractive one.
That is one of the reason why so many players have recently launched their brand in this segment.
Sunfeast ( ITC) is a worthy player to take on the might of Maggi. ITC is a company that is not averse to taking risk and have a huge cash reserve to fight a marketing war with Nestle.
ITC product portfolio has been further expanded with Sunfeast Yippee! Instant noodles.
Three years of exhaustive developmental work has gone into the creation of Sunfeast Yippee!
The product has two intrinsic components - the noodle block and the masala mix.
Wheat is a key ingredient of the noodle block.
The sourcing and blending expertise that has made Aashirvaad India's No 1 branded Atta has been leveraged to make a truly delightful noodle block. Sun feast Yippee noodles do not lump even 30 minutes after cooking.
At present, Sunfeast Yippee is available in two lip smacking variants - Classic Masala and Magic Masala .
Ads of Sunfeast yippee Choice of masala Round noodles
Targeting Maggie with Benefit Positioning
The above ad attacks the largest selling variant of Maggie, Maggie Masala, and gives consumers the choice of two masala “Magic” and “Classic”.
The ad emphasizes that since we use choices in everything why should we settle with only one choice with Maggie masala
The ad focuses on advantage of Yippee noodles on Maggie.
Usually Maggie comes in rectangular shape and while cooking it is broken into two pieces (remember Maggie ad).
It results into short pieces of noodles.
On the contrary Yippee comes in round shape and can easily fits into
round vessel with no breaking which results in long noodles
The biggest problem with cooked Maggie is that it is to be eaten when freshly cooked.
If you keep it for some time its noodle get sticky becomes inedible.
This ad exposes the same disadvantage with Maggie and promises that Yippee noodles can be eaten even after some time.
In the end Kudos to branding and research team of Yippee noodles for such a good positioning for its noodles brand.
Thus sunfeast has tried to give itself a totally different positioning from the other competitors present in the market and it is the only competitor to Maggi which has decided to take it head on while competing with it.
The biggest advantages available with the Sunfeast Yippee noodles brand are as follows: -
The deeper penetration provided by the already well established and penetrative distribution channel provided to ITC by its channel member in the tobacco business which provides it the most penetrative distribution network both in rural and urban India.
Then it used the Sunfeast brand, thereby using the Umbrella branding strategy, which had already become a well known name in the Indian households because of the equity that the brand had gained in the minds of the consumers.
The financial muscle of the ITC conglomerate to back the company to tackle all the competitive moves in an efficient manner.