Consider how this might apply to your business.
“Super-size it!” gets me extra (necessary?) stuff for just a fraction more money. How many times have you nodded your head when asked “Would like a large for a quarter more?” or “Would you like to super-size that for $.59?” A small collection of inconsequential pennies for MORE! I win! Right?
The Dollar Menu brings the seemingly out of reach within reach. Smaller portions, sure. But did you really need 64 ounces of soda and xx-large fries to begin witht? These thrifty value options strip away the excess and deliver just enough – at a comfortable price.
Both of these work on the idea of perceived value. One’s perceived as “a deal” and the other “a steal.”
Some might argue Apple did the same thing with the iPad. It’s not a computer. But it’s more than a netbook. They took away something unnecessary (the keyboard, large storage space) and upped the cool factor by expanding their popular touch screen platform. This sort of convergence and shifting of priorities addressed consumer’s desire to access the internet and email on something more than their smart phone but less than a full blown laptop. The price falls in between the two original devices.
So – what product or service offerings (and their prices) can you shift to better serve the needs of your customers? What can be mixed and matched, or trimmed, or enhanced?
A perceived value change in your menu may keep your customers coming back again and again.
Tags: business
