Monet Stevens, MPS’ Post

Why does Starbucks charge 300/- for a coffee you could make at home for 20/- ? ☕ It’s not just about the coffee—it’s about the experience. Starbucks uses value-based pricing to charge for more than the product itself. They sell the cozy ambiance, the personalized service, the convenience of grabbing a cup on the go, and the brand prestige that makes you feel part of something bigger. Customers don’t just pay for a drink; they pay for the value it adds to their day. This is the power of value-based pricing: aligning your prices with the emotional and tangible outcomes your product or service creates for your customers. Whether you’re selling coffee, consulting, or software, this strategy helps you reflect the real worth of what you bring to the table—and your customers will gladly pay for it. How could value-based pricing transform your business? Share your thoughts below or DM me.. I’d love to explore the possibilities with you! 🚀

In today's economy, price is the top concern for many consumers. 💸 As Gregg Majewski points out, people are being very selective about where they spend their money. While major chains like Chipotle may still be frequented regularly, smaller businesses are now in a rotation where value proposition is key. And that doesn't mean you have to be cheap. Your unique value prop could be pricing, service, delivery, or bundled offerings. As a local business, have you taken a hard look at your value prop lately? In this challenging environment, clearly communicating your differentiator could be the key to driving more frequent visits. What do you think? #restaurantmarketing #restaurantbranding #valueproposition #localbusiness #localmarketing #craveworthymarketing

Running a beverage business? Let's talk about the costs that keep you up at night. Just wrapped up our latest deep dive into operational costs, and here's the reality: It's not just about creating great drinks; it's about mastering the details that impact your bottom line. Want to know how the best in the business manage their inventory turns and production costs? Check out our latest guide below. 👇 #BeverageIndustry #SupplyChain #Operations

Do you take one lump of sugar in your coffee, or two? This simple question has some profound implications. Many companies – across industries – are struggling with how to reduce costs while maintaining the quality of their products and services. One tempting way to reduce costs is to shift work to customers. Some companies push customers to use online portals or chatbots instead of live customer service agents. Other companies require customers to do “final assembly” or “installation” work themselves. These tactics can reduce costs, but they often degrade the customer's experience, which in turn can harm brand equity, pricing power, and demand. However, there are occasional “win-wins,” where a company shifts work to customers in a way that actually enhances the customer’s experience. Starbucks recently announced this kind of “win-win” by bringing back its condiment bars, where customers can add sugar, cream and other finishing touches. This move will speed lines at the counter. So the company gains efficiency, and customers gain a more personalized experience. I had the opportunity to discuss this Starbucks example with CNN’s Nathaniel Meyersohn. You can read the article on CNN here: https://lnkd.in/g3rEcWEh Beyond Starbucks, what are some other examples of this kind of “win-win,” in your business circles?

Felt proud for picking the ‘best value’? Congratulations!! You got scammed. But… . . . . . It’s not your fault. You’ve been played by The Decoy Effect! --Why does it work? Businesses know we love comparing options. So, they add a "decoy" to FORCE us towards the one they want us to pick—usually the most profitable one!! Next time you’re at Starbucks or McDonald's, ask yourself: "Am I picking this because it’s best for me, or because of a clever decoy?" Here’s how: At Starbucks, Small Coffee: ₹200 Medium Coffee: ₹300 Large Coffee: ₹320 The Medium feels like a great deal, but it’s really there to make the large look like a steal. At McDonald’s, Small Fries: ₹70 Medium Fries: ₹120 Large Fries: ₹130 The Medium fries? A decoy to push you to the Large. It’s all part of their sneaky marketing! #finance #marketing #linkedin Parth Verma

Before you read this article respond to the following statement with only a “true” or “false”. Statement: Starbucks sells coffee. If you answered “true” you are wrong. Puzzled? Read on ➡️ https://ow.ly/KKc250S6bmy #Fundamentals #Standout #Benefit #ValueAdd #CustomerExperience #Marketing #MarketingStrategy #BusinessStrategy #BusinessSuccess #Resilience

Unlock your business potential with sharp forecasting! 🍾💡 In the beverage alcohol industry, accurate forecasting is the secret ingredient to a successful recipe. It helps in managing inventory, enhancing customer satisfaction, improving financial planning, reducing operational costs, and supporting strategic decisions. Advanced tools like Claret's integrated planning platform and Profit Maximizer can enhance forecasting accuracy and efficiency, providing real-time updates and scenario analysis to ensure optimal decision-making. Cheers to precise planning and success! 🍷 —---------------------- If you are interested in learning more about forecasting in the beverage alcohol industry, check our blog post about the art and science of forecasting: https://lnkd.in/gWyJd8v2 #BevAlcIndustry #AlcoholBusiness #WineBusiness #SupplyChain #BusinessPlanning #ClaretSolutions #BusinessSuccess #IndustryInsights #SmartPlanning #TechInBeverage 

The Coffee Shop Dilemma: How Focus Can Fuel Growth A few years ago, I visited a small coffee shop that had recently expanded its menu to include sandwiches, salads, and even smoothies. While the food was good, the lines were longer, service slower, and the coffee, their original strength, seemed to suffer. When I asked the owner about the changes, she admitted that they had started diversifying to attract more customers. But ironically, the increased variety caused them to lose focus on what made them unique—their coffee. Fast forward a year, and they scaled back the menu to focus on coffee again, refining their signature blends and enhancing the customer experience. The result? Their coffee sales soared, customer loyalty deepened, and they even opened a second location. Lesson learned: Sometimes, the best strategy isn't to do more but to focus on what you do best. In business, clarity of purpose and execution can drive far more growth than chasing every new opportunity.

[Competition vs. Money] When you see a Starbucks on the road, you think: coffee or not? When you see a Starbucks and Blue Tokai on the road, you think: Starbucks or Blue Tokai? The decision to go for coffee has already been made. Since now you have two options. Therefore, two competitors won’t really split business into half, might eventually even double it. Competition is healthy. Just keep improving.

The QSR industry is experiencing a significant shift globally as consumers become more price conscious and question high prices charged by established players. A comparison between Starbucks and Luckin reveals a 3x price difference for a latte – a trend that is reshaping the industry landscape. Luckin's approach includes great deals, localized flavors, and a highly digitized model with reduced hands-on-deck, enhancing efficiency. In response to this evolving landscape, embracing digital transformation is key for QSR businesses to not just survive but thrive. Ensuring craveable, unique, and localized menu items is crucial. Have you tried Luckin's coconut latte? It's a game-changer! Digitizing the business model quickly is crucial, aligning with Gen Z's preferences and driving customer engagement while streamlining operations. The future of QSR lies in adaptation and innovation. Brands that fail to recognize the threat posed by agile competitors risk fading away. Embracing change and catering to evolving consumer preferences is imperative. Are you ready to embrace the digital revolution in the QSR industry? #qsr #qsrtalent #businessstrategy #gotomarket #competition #talent