Sometimes, amazingly simple ideas can help differentiate brands in otherwise highly competitive markets. Few categories are more competitive than fast foods. But one brand, Chick-fil-A, has succeeded in establishing a unique identity among a sea of choices. The brand’s food quality is toward the top of the fast food pyramid. In my experience, its stores are much cleaner than competitors and its workers friendlier and more attentive. Can you think of any other fast food brand that has staff walking around asking if you want your drink refilled and always replies with “my pleasure” when you thank them for their service?
How do you get customers to pay more for your products? Raise prices in the middle of a sluggish economy and you risk alienating your customers and leaving yourself vulnerable to competitors. In this WSJ article, Kusum L. Ailawadi and Paul W. Farris reveal fascinating information on how smart marketers can do it right.