- "I've been in this business for 20 years... I know what to do."
- "Customers don't know what they want but I do."
- "Customers are dumb."
Thinking you know more than customers is a trap more common than one might think.
A case study:
The current Burger King advertising campaign featuring a very hip king (see above) gets attention and some acclaim for creativity. One never knows where the king will show up. From waking up people to promote breakfast at BK (right) to dancing with Sponge Bob Square Pants to promote Kid's Meals (see video below)... the BK King certainly gets around.
Burger King's current problem?
While fast food consumers seek products at lower prices, BK is sticking to the image of the hip king with little in response to customer pricing desires.
While McDonald's has responded to consumer economic concerns with an expanded "Dollar Menu", Burger King has been airing the booty bumping Sponge Bob commercial (and just recently adding a $1 Whopper Jr. TV commercial).
The results? Burger King revenue is down since March 2009 while McDonald's rose 7% in April 2009 alone .
Even in the current economy, Burger King thought their customers should value image over prices. Apparently, BK was wrong.
P.S. Promoting Kid's Meals with a crotch grabbing king and shaking square booties? That's a topic for a future posting.