Capital Foods, the company driving renowned brands like Ching’s Secret and Smith & Jones, is set to amplify its marketing expenditure by 15-20% during this fiscal year, as stated by a high-ranking corporate official.
According to Digbijoy Chakraborty, the Marketing General Manager at Capital Foods, the company’s marketing expenses could potentially reach up to INR 100 crore during a bustling year.
“Our marketing budget will increase by 15-20% in FY24 compared to last fiscal year. Our marketing spend varies from year to year, but in a busy year, it’s around INR 100 crore,” Chakraborty said, while declining to share the marketing spend figure for FY24.
The majority of the company’s marketing budget is allocated to television and digital platforms, while the remaining portion is divided among other mediums such as print, outdoor, and activations.
In the realm of television and digital marketing, the company’s expenditure leans significantly towards reality shows, attributed to the substantial brand impact they generate.
“Overall, we spend between 25% and 30% of our marketing budget on reality shows,” he said.
Besides TV and digital, the company also uses regional print and outdoor advertising to reach its core consumers. “Our media mix for reaching out to our target audience comprises TV and OTT, followed by outdoor and print,” he said.
Chakraborty emphasized that creating strong top-of-mind recall among consumers is a crucial strategy for effectively competing against both global and regional competitors.