Can you paint the inside and out side of a Burger King and do any interior remodel for $275,000 and have the consumer notice the difference? NO, is the answer. Remodel a legacy unit built 20 years ago for $275.000 and does any industy expert think that will garner a single new customer?
With digtal viseral sinage evelating brand messaging today particulary in ready-2-eat retail space what in the world was Bill Ackman’s team thinking. Here is some free advice, don’t waste the $275.000 per store Bill save your money. Focus on the menu, quit follwing and start leading copy-cat menu items do not garner consumers attention.
If Ackman’s team proceeds with it’s plan to sell off 900+ company owned units what’s left to sell when he leaves? With per unit sales of Burger King 57% less than McDonalds, 17% less than Wendy’s is Mr. Ackmans team simply selling real estate locations? Who will be the buyers? Smashburger, Five Guys Burgers and Fries or Starbucks? At what price will they sell 5 x earnings, don’t think so; 0.75 % of sales? With average unit volumes at $1.25 million even at 1 to 1 Ackman can not even get his investment back. Bill retail foodservice success does leave clues and clue number one is build unit volume. Here is how utilize 5 P’s of Food Marketing.
Tacoma, Washington based Foodservice Solutions® has been gathering retail food success clues. Within the clues they discovered some universal commonalities from those commonalities they developed: The 5’P’s of Food Marketing:
Creating or identifying distinctive differentiated food consumable’s as an entity with identity by day part utilizing the 5 P’s of food marketing works better than copy-cat menu items that’s clue number one.
Understanding the unique balance between palate, price, pleasure and the consumer’s drive for qualitative distinctive differentiated new food consumables places is clue number two.
The food value proposition equilibrium for the consumer today balances; better for you, flavor, and traditional products all blended into something with a twist. In industry speak, differentiated does not mean different to the consumer it means familiar that is clue three.
The 5P’s of Food Marketing can edify your retail food brand while creating a platform for consumer convenient meal participation, differentiation and individualization. Remember Have it your way!
OK time to vote: $275.000 remodel or New Menu items as entity with identity? Email: email@example.com
Outside eyes can deliver top line sales and bottom line profits. Invite Foodservice Solutions® to complete a grocerant program assessment, brand, product placement or positioning assistance. Since 1991 Foodservice Solutions® of Tacoma, WA has been the global leader in the Grocerant niche visit Facebook.com/Steven Johnson, Linkedin.com/in/grocerant or twitter.com/grocerant