I recently visited my second-favourite Thai restaurant. I've been there before, but this time the experience was exactly $1 less rich. Here's why: they've raised their prices (which is fair given the economy) The food, decor and service are still excellent. But on the front cover of their menu there's a big sticker that says..."Everything is $1 more". Yes, it's a little amusing. And from a practical perspective, this sticker makes reasonable sense: why reprint the whole menu now, when we can re-price everything on the cover? But here's the rub: that sticker puts customers into value rationale mode. Is the food $1 better than last time? Nope. Did the restaurant redecorate? Nope. More staff perhaps? Nope. Is anything $1 better? Nope. So what am I getting in return for paying $1 more? The answer, of course, is a bitter taste. The Green Mango story (and brand) of cheerful service and fresh, tasty food has now been taken hostage by price...because my attention was drawn to it. It's these little customer experience moments that matter. Because your customer's relationship with you and your brand is a living, evolving relationship, even an invisible $1 can make all the difference.
The price match policy only applies to UK based companies. http://futures.morewrite.com/2008/06/18/embedded-options-and-the-fair-price-of-a-future/
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