It's been a few years since my last blog post and I am glad that I am back into writing. I didn't realised that I would actually fall in love with writing till these few years.
So I am back, and will be sharing short snippets of my random marketing thoughts.
I shall start with my favourite - the fastfood brands.
I walked past KFC just and saw their $2 ice-cream promotion (that includes choice of a topping). To be frank, if you think through, $2 is actually quite worthwhile if you compared to other ice-cream brands in the malls that is at least $4.90 per scoop, but frankly while we love the KFC chicken, I have not seen long queues for their ice-cream? At this point, I know you would have a question mark on top of your head - thinking why am I talking about the topic of KFC's ice-cream when this is not even their core product and what does that got to do with my subject title? I will get to my point soon....
Well we always see long queues at llaollao for my favourite $6.95 sanum, OK, I know comparing it to llaollao might be too far-fetch as llaollao's core product is the yogurt ice-cream, not to mention that it is so pretty, with the novelty factor, etc. But the point I am bringing across is, is price a factor for the queue?
If it is not, then what is? For non-marketers, bunch of reasons listed are eg: novelty, packaging, crowd effect, Instagram opportunity, etc.... But if one pauses and thinks, on the other hand at McDonald's we do sometimes see a queue for their Vanilla Cone (PS: sorry I can't remember the price, I just remember that it's cheap and good) or $1.50 Hot Fudge Sundae.
So what is at work here? Some may say loss leader strategy to attract the crowd into the outlet? I feel it is deeper than that one-dimensional surface. While $1.50 is really worthwhile for an ice-cream, $2 is actually just as good. And on the taste, personally, I do not see a huge difference between the $1.50 one vs the $2 one. We have also concluded that price is not a main factor here for ice-cream, especially when the difference is only $0.50.
I feel the concept here is the effort and how McDonald's has marketed it throughout the years that imprinted to me that the ice-cream (that used to start from $0.50) is very value for money that novelty, packaging, crowd effect, Instagram opportunity, etc somehow doesn't matter and the main purpose of the loss leader is not just to attract crowd into the stores but has in a way imprinted on me that dinning McDonald's overall is very value for money so much so that even when the ice-cream cone price slowly increased over the years, the thought that not just the ice-cream is value-for-money, dining at McDonald's is value-for-money still lingers in me.
It's the same marketing charm we get from McDonald's through their Happy Meals when we were little kids and the Kids Birthday Parties that I attended multiple times but never get to hold one myself - where I keep telling my hubby than when I have kids one day, despite all the new "exciting" themed kids parties venue in the current market, I will definitely have at least one of my kids' birthdays at McDonald's.
So I am back, and will be sharing short snippets of my random marketing thoughts.
I shall start with my favourite - the fastfood brands.
I walked past KFC just and saw their $2 ice-cream promotion (that includes choice of a topping). To be frank, if you think through, $2 is actually quite worthwhile if you compared to other ice-cream brands in the malls that is at least $4.90 per scoop, but frankly while we love the KFC chicken, I have not seen long queues for their ice-cream? At this point, I know you would have a question mark on top of your head - thinking why am I talking about the topic of KFC's ice-cream when this is not even their core product and what does that got to do with my subject title? I will get to my point soon....
Well we always see long queues at llaollao for my favourite $6.95 sanum, OK, I know comparing it to llaollao might be too far-fetch as llaollao's core product is the yogurt ice-cream, not to mention that it is so pretty, with the novelty factor, etc. But the point I am bringing across is, is price a factor for the queue?
If it is not, then what is? For non-marketers, bunch of reasons listed are eg: novelty, packaging, crowd effect, Instagram opportunity, etc.... But if one pauses and thinks, on the other hand at McDonald's we do sometimes see a queue for their Vanilla Cone (PS: sorry I can't remember the price, I just remember that it's cheap and good) or $1.50 Hot Fudge Sundae.
So what is at work here? Some may say loss leader strategy to attract the crowd into the outlet? I feel it is deeper than that one-dimensional surface. While $1.50 is really worthwhile for an ice-cream, $2 is actually just as good. And on the taste, personally, I do not see a huge difference between the $1.50 one vs the $2 one. We have also concluded that price is not a main factor here for ice-cream, especially when the difference is only $0.50.
I feel the concept here is the effort and how McDonald's has marketed it throughout the years that imprinted to me that the ice-cream (that used to start from $0.50) is very value for money that novelty, packaging, crowd effect, Instagram opportunity, etc somehow doesn't matter and the main purpose of the loss leader is not just to attract crowd into the stores but has in a way imprinted on me that dinning McDonald's overall is very value for money so much so that even when the ice-cream cone price slowly increased over the years, the thought that not just the ice-cream is value-for-money, dining at McDonald's is value-for-money still lingers in me.
It's the same marketing charm we get from McDonald's through their Happy Meals when we were little kids and the Kids Birthday Parties that I attended multiple times but never get to hold one myself - where I keep telling my hubby than when I have kids one day, despite all the new "exciting" themed kids parties venue in the current market, I will definitely have at least one of my kids' birthdays at McDonald's.
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