Friday, March 13, 2009

choose your own price marketing idea

I just saw a news story on a Java street cafe in Ohio that is letting their customers choose their own prices for everything in the store. Whenever a customer walks up to pay for their coffee, sandwich, muffin, etc. they allow the customer to decide how much they want to pay for everything they're about to buy.

Think about that for a minute. The CUSTOMERS get to decide how much the items they're buying are worth. Is that not the most logical, brilliant marketing strategy you've ever heard of? Not only does it make the customers happy that they are getting to determine the price of their food, but it also challenges them to examine exactly HOW MUCH the American dollar is worth! This business is redefining popular sovereignty in the market place.

If Americans could simply pause long enough to question the prices stores charge, and make a decision that their dollar is worth more than the business is saying it is, then prices would drop all over the country because the value of the American dollar would go up exponentially to consumers, because ultimately value is all in perception.

This is one of the coolest ideas I've heard of, and the best part is they are still meeting their bottom line. Americans need to be able to believe in the economy if it's ever going to get better, and this idea is a HUGE way to do that.

2 comments:

  1. Lawrence GunnellsMarch 13, 2009 at 3:57 PM

    Interesting. How long have they been doing that?

    ReplyDelete
  2. One Problem... what if people tag onto the whole 1 cent for whatever you want idea?

    ReplyDelete