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Lays Chips-The Marketing Mix
Transcript of Lays Chips-The Marketing Mix
Lays Chips are a delicious and quick snack to eat whenever and wherever. In this project, I will be investigating how Lays Chips sells their product with the 4 P's and the 2 C's.
Lays Chips are one of the easiest products to find. These chips are sold at a variety of stores from grocery stores to convenient stores to gas stations. Lays has the idea of selling their product at convenient locations that allows easy access.
Lays sells through retailers like Walmart, NoFrills and convenient stores like Macs Milk. Customers can buy the chips at the store and participate in activities online.
Simply Made. Simply Good.
Lays has a variety of different flavours of chips ranging from Dill Pickle to the new Maple Moose. Lays is owned by the company Frito Lays that sells Doritos, Tostitos and many more.
This company is still in its maturity stage in its life cycle because it has been around for a long time with no decline in sight. It has the common types of chips that most people buy today.
The company is using 'extension strategies' with their chip brand 'Lays'. They have contests to expand their flavour of chips like the one that they still have right now.
When I think of this brand, I think of the colours red and yellow. The red and yellow is used on the logo with every bag that you buy. The yellow represents the sun and the red goes across the front to have the name on it.
The company wants to make you feel like your eating good snacking food when you don't think that its good for you. They want you to feel like you are eating something good for you because it comes from a vegetable. When they promote their products, they often show a truck of some sort hauling potatos to the place where they will be making the chips. They just want you to think that its actually healthy for you.
Lays does not sell their chips online since most of their success has come from small and big retail stores.
Lays chips can range from $0.99 - $4.00 depending on where the chips are sold and how big of a bag you want. Some stores offer deals like buy 2 for $6 or 3 for $8 like Giant Tiger.
The pricing strategy used for this product would be promotional pricing and and competitive pricing. I chose promotional pricing because often times the chips are sold with a good deal like buy 2 for $5 or $6. They compete with their competitors like Miss Vickies to have a better price than them.
When they are not using competitor pricing or promotional pricing, I think that they use price skimming because people don't always want to buy a unhealthy bag of chips for the price that is offered.
Lays chips has recently launched an national contest in July called 'Do Me a Flavour.' Contestants submit their new chip flavour idea and people vote for the flavour that they like the best. The contestant with the most votes for their flavour wins and has their chip idea sold in stores all across Canada. People can vote until October 16 where the contest ends and the winner will be announced.
Some stores have special offers for a limited time where you can buy more bags for a good price.
Lays chips advertises through TV and magazines such as People Magazine.
Since Lays has the 'Do Me a Flavour' contest right now, they have been advertising a lot through TV channels to try and reach their target customer. I have seen their commercials on a variety of channels like Comedy, TLC, Global, MTV, CTV and TSN. These channels are seen by young adults (such as myself) and adults at any age. These people are largely part of their target customers.
You wouldn't think that a chip company would promote their product through a magazine right? In any magazine such as People, they are promoting their products because they know that the people who are reading the magazine are a part of who they want as their customer
Sponsorship and Marketing
Lays chips sponsors sporting events like hockey. Along the side of the boards, you can see the lays logo often times. They sponsor Canadian farmers because in order to make their chips, they need potatoes from farms. Lays doesn't just buy any potatoes, they buy potatoes from real farmers who have potatoes on their farms.
Demographics:The target customer for Lays is both males and females. Lays targets anybody and everybody who likes to eat chips. It doesn't matter if you are married or not.
Psychographics: People who eat Lays will likely have a lifestyle where they are okay with eating chips, not necessarily caring about the unhealthiness of them. Hobbies can be anything from sitting back and watching TV a lot to always on the go doing something. The kinds of attitudes that people will have may be care free if they don't care as much about their weight.
Behavioral: People will likely buy more than one bag to get the kind of flavours that they want. Their customers would buy their chips because they want the snack. The brands that they would prefer would be their own favourite kind of chip. For example, I would buy Salt and Vinegar because it is my favourite kind.
Geographics: It doesn't matter if you live in the suburbs, city or country. Lays is open to anyone and everyone living anywhere.
Lays is owned by the company Frito-Lays and has many competitors within the company. Lays competition is brands like Doritos, Miss Vickies, Sun Chips, Ruffles and many more. This company differentiates themselves form their competitors by having contests and promoting them through TV ads. They make their chips seem more irresistible than other brands because of the classic taste from them. I have seen more Lays commercials than other other brand.
In flyers for grocery stores like Walmart, they show what deals they have on for the chips. Other retail stores do the same in their weekly flyer packs.
Lays chips has launched a contest in July called 'Do Me a Flavour.' Contestants can submit their new flavour idea to Lays like Maple Moose and Grilled Cheese and Ketchup. Whoever has the most votes for their new flavour idea wins the competition.
Lays chips has their own website where you can see contests and details about their product. On their website, they have nutritional information, how they get from potatoes to chips, and it shows you the variety of different flavours that they have available to customers. You can also follow them on twitter and look at their facebook page.
Product Life Cycle
: Lays strengths as a company are that they promote their product well and try to engage their customers to participate in activities that are going on. Lays is better than the competition because they reach out to customers more and have better contests that people want to do and sign up for.
: Lays weaknesses would be that they don't sponsor enough events. It isn't often that you see Lays sponsoring big events. Other competitors are seen more than Lays and they need to improve that. Also, other competitors sometimes have better prices and better deals all depending on where they are sold.
Lays could take advantage of big events coming up in the future like the Winter Olympics to promote their product. They could sponsor a sport that is playing in the Olympics and really go to town with that.
The threats that Lays could face are that other competitors are gradually getting bigger like Miss Vickies or Doritos and other brands. These brands are getting more notice and they are somewhat new in the last 20 years. Lays has been around for a really long time and people are always looking to have new things.