What Potato Chips Can Teach Entrepreneurs?
Brand Management enables the responsible team assigned to each specific product to treat the brand as a stand - alone business and profit center for the Company. The success of this management style is legendary and has been studied in Business Schools and adopted by many other businesses. The Brand Management system encourages each team to pursue aggressively new product adaptations and inventiveness. P&G Research and Development for the Company’s food group worked on the potato chip project throughout the 1960’s. Their answer to the problem created a wonderful example of how an entrepreneurial firm, or individual, can profit immensely from a convergent product innovation. The innovation that became a billion dollar brand, and revolutionized snack food marketing, was the introduction of Pringles.P&G obviously did not invent potato chips or salty snack foods. However, by adapting the classic potato chip in form, taste and presentation they created a novel, blockbuster brand that is sold to millions of consumer around the world every day. Pringles are 42% potato. They are formed by mixing potato flakes with liquid slurry and then dried to form each chip into an almost perfectly identical curved oval crisp. The genius of Pringle’s lies in the cylindrical cardboard tube invented for P&G by Fredric Baur.
The Pringle crisps are stacked inside the tube so there is virtually no breakage of the individual chips. The tube closure is a snap on plastic lid. Pringles was test marketed in 1968 and consumers were enthusiastic.
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25.02.2010
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