Nothing is more important than staying relevant to your consumers and evolving your offerings to provide them with continuous meaning. Otherwise you risk losing out on substantial new market opportunities and becoming inconsequential to consumers.
Apple and MTV both bravely left behind their original core businesses thirty years on. In 2007, Apple symbolically removed the word ‘computer’ from its name, and Steve Jobs revealed his vision for leading a Post-PC world. In 2010, MTV ceremoniously dropped the word ‘music’ from its logo, while posting its largest rating increase in over ten years via a music-free programming lineup.
And it appears that Dunkin Donuts may be next to leverage such Slingshot-like thinking with the announcement of its conversion to a “beverage company.”
Speaking at investment bank Jefferies’ annual consumer conference, Carbone called Dunkin Donuts’ beverage business the “holy grail” for profitability, with the highest margins of all its sales categories.
As Dunkin prepares to head “west of the Mississippi”, as Carbone put it, the company is rolling out a national media campaign focused on its drinks rather than any of its food offerings.
[Image via UPI.]