Initiated by - ITC Foods


Categories: Branding,Strategy | Starting on: 4 September 2021 | Closing on: 8 October 2021



How to build a Mass FMCG brand (Chips or Biscuit), & grow it up to INR 500Cr, in 3 years, using only digital mediums.

Brief

It is said that mass appealing brands are not made without TV. Are you willing to challenge this statement?
A business is looking for an innovative, out of the box & differentiated digital media strategy to build a brand. This is an opportunity for youths who are looking to grab the chances to showcase their talent & win big. This challenge requires you to dig deep in all forms of digital media & consider the hyper-active competitive environment in India Geography to formulate a sound brand building strategy. It involves intensive research and innovative approach to come out with a strong & differentiated strategy.

Expected outcome

  1. Actionable digital media strategy to launch & build a mass FMCG brand.
  2. Complete professional presentation and documents that include all research & data points.

Who can participate

  1. Students in selected management institutes in India can form teams to participate in this challenge.
  2. Selected institutes and/or student’s groups in those institutes will be invited by the Sociocharge Impact Lab team with invite codes.
  3. A faculty can also join with the teams from the campuses to guide the students. However, this is not mandatory for teams to participate.
  4. Each team shall have minimum 3 students & maximum 4 students.
  5. Each invited campus can have maximum two teams.
  6. Three teams are open for wild entry without any restriction on campuses.

Awards

This is going to be a tough fight as teams from leading management institutes are expected to compete with each other. Selection for winning teams will be done on the basis of innovative & holistic approach that is feasible to execute. Jury members will be senior leaders from Business team and Sociocharge Impact Lab.
Solving a real-life business problem and winning in itself would be a great award for teams. However, top three teams will be awarded as follows.

  1. Amazon shopping vouchers worth INR 35,000/-
  2. Amazon shopping vouchers worth INR 25,000/-
  3. Amazon shopping vouchers worth INR 15000/-
  • All the members of winning teams will also get certificates from the business.
  • Top winning team may also get an opportunity to work with business team & execute the proposed strategy for two months.
  • All teams that clear the first screening round will also receive participation certificates from Sociocharge.

Challenge detail

Participants are required to develop digital media strategy to build a brand for their chosen product or in general.It is widely accepted norm that mass appealing brands can not be made without TV commercials and endorsements from celebrities. However, advancements in various forms of digital media with a powerful granular reach to establish meaningful conversations with the target customers and/or consumers bring an opportunity to utilize the potentialities of digital media to launch & build a brand. Proposed strategy should be holistic in approach while considering all forms of advance digital media and must be backed with deep research & data points on target customer and/or consumer segment(s) & existing competition.
  1. Strategy must contain clear actionable points.
  2. It must include performance metrics against each action point suggested.
  3. It must also include budget, team, various campaign ideas with details, time lines & frequency.
Consider as if you are leading the brand building strategy for your own product.

Constraints (if any)

  1. Teams need to present their strategy before business team and justify their research, data and suggested action points.
  2. Consider 3 years as time horizon for strategy roadmap.
  3. Market to be considered: India Geography.

Time lines

This challenge is moderated & guided by the Sociocharge Impact lab. Therefore, there will be briefing & moderation sessions in between to ensure teams perform their best.
  1. Briefing session: 4 September | 8 September | 11 September 2021, 5-5.30 PM
  2. Deadline to register a team: 11 September 2021
  3. First level screening: 18 September 2021
  4. Mid-term moderation: 25 September 2021
  5. Second level screening: 1 October 2021
  6. Final presentations & award declaration: 8 October 2021

Brief on the company

This challenge is put up on behalf of ITC Foods.

Terms & conditions

  1. Work submitted shall belong to business that initiated the challenge.
  2. All selected teams must present their work before the jury members as per the scheduled date & time.
  3. No work shall be copied from any online or existing research work.
  4. Any reference used must be mentioned clearly.
  5. Final selection of winners will be done by the jury members from Business team & Sociocharge network.
  6. Decision of jury members shall be final and binding to all the teams.
  7. All teams must follow instructions & guidelines provided by the Sociocharge during the challenge period.
  8. No team shall share its work with other teams and any other people who are not related to this challenge activities.

Registeration closed
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