In the news recently there was a story about Burger King rolling out a new French fry dubbed “Satisfries”. If you like French fries like we do, this is great news! The fast food chain announced that by changing the batter in the frying process, the new French fry will contain 30% fewer calories and 40% less fat than McDonalds’s smallest sized fries. Burger King is aiming to capture the “delayed user” niche, which refers to those customers who would buy French fries only if they were healthier to eat.
From time to time we hear about companies who try to reinvent an existing product in order to juice sales and gain ground on a perceived market leader. Sometimes a new slant on an existing product offering can be a game changer for a number two player and result in increased market share. However, companies that tinker with a proven product offering should precede with caution, as success will depend on integrating a carefully designed marketing plan.
Thinking about creating a new or improved product offering? You should first ensure that you understand the market in which your new product will be competing. A well thought out marketing plan will properly position your new product and convey the important attributes that will differentiate it from other products in the same market. Companies also should not forget about their existing customers. Essential to any great marketing effort is the “voice of the client”. Receiving feedback from your clients via on-line surveys or blogs is a great way to tell if you are on the right track.
Only time will tell if Burger King will succeed with its new version fries. If the fries taste great and are healthier too, they could have a hit. But a lot will depend on the success of their marketing efforts. And given the potential dollars at stake, the matter is no small potatoes.