Success of a new product shouldn't just be determined by its sales
September 4, 2013
(Off The Menu)
– The success of a new product, whether permanent or for a limited time, doesn’t have to be measured solely by its sales. Let me explain what I mean:
Last week, Subway and Burger King announced two new items. Subway added a new option in which customers can get any of their sandwiches on garlic bread, while Burger King added the French Fry Burger to its value menu as part of a fall promotion.
Since the announcements, I have visited both Subway and Burger King. Now: I did not get either new item, and I have no plans to. Nevertheless, just hearing about the new products got me thinking about each fast-food chain, and as a result I ended up getting meals at both.
Think about that for a minute. A restaurant comes out with a new product and it entices me to visit that restaurant. Maybe I didn’t end up getting that product, but in the end, Subway and Burger King’s new products got me in the door. And I walked away with purchases from both.
A sale is a sale, isn’t it?
Any store owner in any industry will tell you that when it comes to sales, 90% of the battle is getting the customer in the door. The rest is easy.
Nevin Barich is the food and beverage analyst for Industry Intelligence. He can be reached at firstname.lastname@example.org