Success
does leave clues and Taco Bell continues to edify its fresh food offerings with
innovative new menu ideations that complement consumer expectations of affordable
fresh flavorful food. The new product
research and marketing team at Taco Bell understand that menu brand
differentiation does not mean different it means familiar but with a twist
according to Steven Johnson Grocerant
Guru® at Tacoma, WA based Foodservice Solutions®.
Facts
first Taco Bell sold 53 million of the fries, starting at $1, over the first five
weeks of the promotion, making it one of the most popular product introductions
in the chain’s history. In fact one out of every four orders during that period
included the fries according to a Taco Bell spokesperson.
Leadership
matters and the ‘man’ at the top of Yum Brands CEO Greg Creed stated “Consumers
frequently added the fries to existing orders, driving incremental sales. ..The
$1 fries helped the business,”. .. “The good news is a 25% incidence is great.”
Regular readers of this blog know that price is a key driver within all sector
of food retail. There is little doubt
that this was the right product at the right price for Taco Bell according to
Johnson.
We
must note that Taco Bell heavily advertised the $1 Nacho Fries during the
quarter, and aggressively marketed its $1 items this year amid a tough,
competitive fast food where consumers have been focused on value. Take note
that all of that advertising did not take place online.
What’s
next $1 Triple Melt Burritos and $1 Triple Melt Nachos at all
6,400 of its locations. The company is also testing new $1 products, including
a Crispy Chicken Taco and a Beefy Crunch Burrito. The chain has vowed to
introduce 20 new $1 menu items this year.
Creed
continued “We’re not a one-trick pony when it comes to value,”…“We’ve got a lot
of really smart plays around value. We continue to do very well in a tough
marketplace.”
Without
doubt the retail foodservice price,
value, service equilibrium is once aging resetting. There is a battle for share of stomach
underway and customer frequency is top of mind with consumers and pricing
marketing tool that has been taken out the food marketing tool kit to garner
incremental customers, product trial, and customer migration.
Foodservice
Solutions®
specializes in outsourced business development. We can help you identify,
quantify and qualify additional food retail segment opportunities or a new menu
product segment and brand and menu integration strategy. Foodservice
Solutions®
of Tacoma WA is the global leader in
the Grocerant niche visit Facebook.com/Steven Johnson,
Linkedin.com/in/grocerant/ or twitter.com/grocerant
No comments:
Post a Comment