AN OPEN LETTER TO NATE STECK:
I would like to share with you some forty years of experience studying the marketing of new technology and how and why the new thing replaces the old thing;
We have three problems with the current can of Nate's Pancake & Waffle Mix:
(1) the can is too small and does not empty easily.
(2) the batter is to thick and does not flow from the can well,
(3) the pancakes and waffles are "heavy", not fluffy, and we need to be able to prepare 4 5-6" pancakes or waffles. 4" waffles do not fill the waffle makers in the U. S.
On a positive note, the flavor is great and could be less sweet and still be great.
The solution to all three issues seems to be simple - the batter needs be thinner. If it were thinner, it would flow from the can more like RediWhip and the can will empty easily, and the pancakes and waffles would be more light. Second remedy - the cans need to be larger.
One must understand, poor folks (lower income) customers are not the market for this product. This product is not a price market item - cheaper than making them the traditional way. It is a quality/service (convenience) product, meaning that it fits well in the quality/service/price triangle as quality/service. It cannot be all three.
This market is middle to upper income customers. It cannot be quality/price at the cost of losing Service (convenience). It cannot be Service/Price and lose the quality of the product.
Middle-high income customers will pay more for the product if the quality and convenience is exceptional (which it is not at this time). To improve the quality the batter must be thinner and the product lighter when prepared. The taste is fine and could be less sweet. To improve the convenience, a can must prepare four 5-6" pancakes and fill the waffle iron (which requires a larger can).
Important: Unless the quality and service (convenience) is equal to or better than traditional pancakes or waffles, it will not succeed and replace conventional pancakes.
Question: Will customers (middle - upper income) pay more than the present for a higher quality and convenience than the current product? The answer is a resounding YES. How much more? I would pay as much as $9 per can or buy a four pack for $35. A breakfast like this for two would cost under $12. That's not a problem considering the convenience and not having to drive to a restaurant for breakfast and pay that or more.
Our competition is not Aunt Jemima, it is I-hop, Denny's and Pancake House. Middle-upper income folks demand quality/service - the price is fair if the quality/service is equal to or better than your competition.
To summarize: Larger cans, thinner, lighter batter will sell well. The product as presented at this time will probably not be as successful.
(NOTE: This is one person's opinion, freeely given. Take it for what it's worth)
