cost

Mini Pepsi: Its What’s on the Outside that Matters.

pepsi-mini-can

 

We have seen mini before.  Most recently every candy bar and snack has been reduced to snack size for bite sized cravings.

Pepsi most recently has introduced a small can that gives consumers just enough taste of a sweet treat without having the unhealthy side effects of a while can. A tasting menu perhaps.  :)

From a business perspective, I think its super impressive that by going bite size, the soda giant might appeal to those who want just a bit, or something to hold them over till their next soda.  I am not sure of how the new cans are priced, but it would be interesting to compare the delta between the costs of the new mini cans, normal cans, and the final cost to a consumer.  They are far cheaper to ship and bottle I would assume, and the cost maybe be similar to a full can.

Mini cans have been around in airplanes and hotel mini bars for a while.  It will be interesting to see how they perform in a mass audience.

Sometimes, its not whats on the inside. 

 

Bonus: Other Mini Concepts

Smart Car:

Pringles Mini:

 

 

Applying Analytics to the Restaurant Industry

As many of you know, I have just joined the team at Revel Systems (www.revelsystems.com) .  I am super excited to join a top notch startup who is changing the way the service industry is run.  I am fortunate enough to work with three of my favorite things every day – tech, data, & food ( grocery/ retail service ).

One thing that really drew me to this new job was the opportunity for data to influence the restaurant industry. From my time at WCG ( now W2O ), I learned so much about how analytics could drive a strategy for marcom or engagement. The real epiphany though of the “data” buzz words we have been hearing about over the last year though are really about tracking assets and being self aware of your decisions to simply forecast your own decisions and refining your plan for better quality.

I am now a converted “foodie.” I dream of Michelin Star restaurant dinners once a year, and have begun to appreciate a good wine   or the different notes of a seasoned dish.  That’s the artist in me. However, the business side of me understands that their is a value of that dish – both perceived/ earned value and actual costs per plate.  The balance of the art and business of a restaurant is what I find so intriguing.  People pay for the value, but dont mind the cost.

The dream of the chef ( artist ) is to be able to produce tastes on a plate that can inspire the critic, but also make the account manager happy with the books. Understanding your menu / ingredient data can help justify how you shape your dishes, but also understand how you are using ingredients, and where you can be efficient with your assets.  Same applies to mixologists in the bar industry.  I feel that people are afraid to embrace data in that people may not want to know the cost of a slice of tomato, but really, once you understand the data, you have the power to make better decisions.  It’s empowerment.  People will always pay for art and an experience. Its just nice to be able to understand and justify the math behind art.

I love what I am working on with the Revel team. Its amazing to see what you can passively track from a POS system.  Let me know if you have any contacts in the service industry who are open to hearing about how data analytics and a sleek POS system can change how you do business.

-Patrick