Looking back at one of this year’s fast food success stories, one can’t help but put Taco Bell’s Doritos Locos Taco at the top of the list.
The chain passed the milestone of selling 200 million of these “Dorito-fied” taco shells, making it the most successful product launch in the company’s history. Such a simple co-branding concept has had a huge impact, not only on sales for the chain (which had same-store sales increases since the product was introduced), but for reinforcing Doritos as a superior-tasting chip/snack.
What amazes me is the fact that so many other well-known branded food products have not jumped on this co-branding/licensing band wagon.
It seems that their marketing departments are so consumed with maintaining the status quo that they are neglecting a gold mine of opportunities (our Agency has experienced this first hand)! While I understand that many food companies do not have the internal resources to devote to this type of strategy, there are numerous qualified agencies that could do this for them.
Hopefully with the New Year, marketing departments will seek out growth strategies that will help propel their brand to the next level, increasing their market share, equity and sales!