ITC...

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ITC... they have not only cashed in on the organic food fad but their innovation called Bingo has created a new genre in snacks... that’s 10 on 10!

It won’t be an exaggeration to say that ITC stands for Innovation, Technology and Creativity, the way they have led by example. Staring from e-Choupal to rural retailing (Choupal Sagars) to the fashion ramps, this conglomerate has been a pioneer in innovations and often has been a bellweather in bringing in changes in Indian socio economic life. Innovation has been in its DNA... ever since its metamorphosis from a tobacco major to a conglomerate.

FY 2007 was not an exception for ITC and to sustain their growth mantra and their first mover’s advantage, the company rolled out many innovative products. The flagship brand Ashirvad is just one of the smash hit innovations for the company in branding staple food products, bucked up with massive marketing expansion strategies. In the same line, to become an early bird for cashing in on the organic food factor, they revealed Aashirvaad Select Organic Spices. They also forayed into the fast growing snacks market through their brand Bingo, which has created a new genre in snacks. ITC pepped it up with a massive distribution initiative & aggressive penetration ensuring presence in every corner of India from day one in more than 5 unique flavours. “We have always been at the forefront of innovation with the aim of catering to the evolving consumer needs. Consumers today are very knowledgeable & willing to try out newer products in the market, thereby making innovation a key ingredient for any brand’s success.” History has proved the mettle of this conglomerate to innovate, interestingly, ITC is also one of the rare companies to follow the triple bottom line concept in its accountancy practices. Truly a veteran in the field now!

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Source : IIPM Editorial, 2008

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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