Today it just might be time to evaluate the cost of your loyalty program according to Steven Johnson Grocerant Guru® at Tacoma WA based Foodservice Solutions®. With food cost deflation at hand and consumers still recovering from the great recession there is a battle for share of stomach underway. Both Portability and Price are key drivers of customer traffic in path to purchase according to Foodservice Solution® team.
Back in the day Technomic edified Foodservice Solutions® 5 P’s of Food Marketing the undercurrents of change and success within the food industry were forever changed. That changed can traced back directly too Foodservice Solutions® 5 P’s of Ready-2-Eat and Heat-N-Eat fresh prepared food marketing.
Increasingly the role of price and portability are being used with greater emphasis than ever before according to Foodservice Solutions® team. The clear result can be found in customer migration from legacy chain foodservice retailer to new non-traditional food retailers the ilk of Ikea.
The FIVE P’s of Food Marketing were first introduced back in 1994. Since then they have been implemented, and integrated by foodservice companies including Full Service Restaurants, Chain Drug Stores, Grocery Stores, QSR’s, and C-Store clients. The 5 P’s are:
After repeated successful retail food industry adoption of Foodservice Solutions® 5 P’s of Fresh Food Marketing, Technomic conducted qualitative and quantitative research then compiled the following infographic highlighting the importance and consumer relevance that portability play’s today. The Technomic infographic is entitled Pertinence of Portability:
McDonald’s 2 for $2.50, Burger Kings 5 for $4 or Wendy’s 4 for $4 are targeting the 50% of consumers over the age of 18 that are single. These are meals and priced to be pantry busters. The simple fact is a single person cannot cook a hamburger at home for a $1.00. Why would anyone cook from scratch and spend more money while earning less than they did before the great recession?
Food commodity deflation continues as a back drop, fast food retailers see an opportunity to drive solid customer counts increases in 2017 regaining customers lost to grocery stores and C-stores the past 8 years. You have all heard the old adage time is money. Handheld food for immediate consumption is driving top line growth and bottom line profits while garnering market share in 2016 because time is money.
Visit: www.FoodserviceSolutions.us if you are interested in learning how Foodservice Solutions FIVE P’s of Food Marketing can edify your retail food brand while creating a platform for consumer convenient meal participation, differentiation and individualization or you can learn more at Facebook.com/Steven Johnson, Linkedin.com/in/grocerant/ or twitter.com/grocerant
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