I love what he writes:
I was blown away…my thoughts are conflicted. On one hand, I am thinking to myself:
“What kind of rich a%&hole can afford to drop $200 on a burger of all things…you could feed 4 families in Africa on that for 4 months.”
Then, on the other hand I was thinking:
“How in the heck can I round up a flight to London and $200…I have to try one.”
How many times has this blog pointed out that high prices tempt? Even if Burger King never sold one, look at the publicity they are getting. Of course, they are selling them, but only in London, and surprisingly well some of the articles report.
Stanley Marcus of Neiman-Marcus fame used to carry a lot of different $50 Christmas gifts in the stores, reasoning that some of the magic of the famous Neiman-Marcus Christmas Catalog would rub off on those gifts. Victoria’s Secret does this when it showcases a $12,000 bra. Even if no one buys it, it places a halo around its other offerings. In other words, not only smart pricing, smart marketing.
What is your firm’s version of the $200 hamburger?
(By the way, Burger King is donating all the proceeds to a London youth charity).