Some of you may recall the bad rep Taco Bell received after a lawsuit arose, accusing the Fast Food company of not having enough meat in their meat sauce to call it meat sauce (gross). This negative publicity had adverse effects on their sales numbers. As competitive as the fast food industry is, a company cannot afford losses if they hope to sit on the throne- or atop the golden arches.After spending a year losing sales, Taco Bell knew it had to make some changes. Many of you have surely noticed Taco Bell's newest item, the Doritos Locos Taco. As for their marketing of the product, they started by selling it at limited locations for the first year. This spawned the creation of their current advertisement: Taco Bell Roadtrip. The taco has even gone viral, with a 12 tacos in under 15 minute challenge taking over the web. My personal opinion- worth a try (but probably late at night when you're under the influence of anything). The new product release was coupled with the release of their new tagline: "Live Mas" (Tanslation: Live More).
So how'd they do? They're Back in Black! According to reports, Yum, the parent company of Taco Bell, KFC, and Pizza Hut (and receives 60% of their revenue from Taco Bell) achieved 7% growth in sales for the first time in a year. Yum's CFO Rick Carucci even predicts growth in the high single to low double digit for upcoming sales figures.
What does this mean?
In the fast food industry, new products and aggressive marketing is a good way to increase sales. This is no secret, which is why Burger King- after selling 29% stake in its company to an investment entity- is completely revamping their look and menu. As for their marketing strategy, it's out with the King, in with the..... beautiful.
So no more of this:
And expect more of this:
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