Monday, April 7, 2008
The $100 Million Dollar Idea
Kraft believes they have a product that will surpass the $100 million mark in sales "within the next few years."Rick Searer, executive vice president and president of Kraft, told analysts last month that the product would sell itself. The product is Bagel-fuls. And the concept is frozen bagel sticks, filled with Philadelphia cream cheese. To launch the product, an integrated marketing campaign will start on April 9 when Joy Behar, co-host of ABC's The View, gives out free Bagel-fuls in New York's Times Square. Kraft is taking Bagel-fuls on a 20-plus city sampling tour this summer, which will be supported by radio promotions. Cities on the tour include Dallas, Detroit, Atlanta, Chicago and Orlando, Fla. "We're focusing heavily on sampling because we believe Bagel-fuls are so different from anything in the market," said Chitra Ebenezer, marketing director for the new Bagel-fuls brand. Kraft also is targeting blogs and female-oriented online communities to promote Bagel-fuls. "The product lends itself to word-of-mouth messaging," said Ebenezer. "Once you try it, you want others to try it."
Kraft is also planning an advertising campaign set to debut on the end of this month.
Food products always seem like a risky endeavor to me. Maybe its because the restaurant industry has a 60% failure rate. I have seen products like this come and go. There always seems to be a "big idea"- check out batter blaster, the spray on pancake- but most seem to fail. This bagel idea, however, is a bit more conservative in comparison and I think that it will generate some sales. I don't think there is that ick factor with the cream cheese being already inside. People who are on the go, and especially kids, will enjoy this product. As far as Ebenezer's prediction that this product will generate word of mouth, only time will tell. I personally will update this blogpost if I see chatter on the web about it once it debuts.