Motley Fool Money Fast Food Innovation
Aug 6, 2023
David Henkes, Senior Principal at Technomic and expert on food and beverage trends, dives into the world of fast food innovations. He discusses the complex journey from concept to market for new products, like the quirky cola-flavored ketchup. Social media's impact on marketing strategies is a hot topic, as brands shift towards authentic content that resonates with consumers. The challenges of automating kitchens while sustaining hospitality also get attention, revealing the balance between efficiency and the human touch in fast food.
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Fast Food R&D
- Fast food R&D is a systematic process, from ideation to testing, often taking 12-18 months.
- It involves trend research, consumer feedback, and operational feasibility checks, with most concepts scrapped.
Fast Food ROI
- Fast food is taste and an engineering problem; Taco Bell's $40,000 machine measures bite crunchability.
- A successful product's ROI is from new traffic and incremental sales, plus social media buzz.
Pepsi Colachup
- Pepsi's cola-flavored ketchup, Pepsi Colachup, launched only on July 4th at four ballparks.
- Such "stunt food" blurs marketing and food, prioritizing press/Instagrammability over taste.