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The Truth About Starbucks And The $4 Coffee
Before Starbucks you could buy your morning coffee for a dollar or two.
So how was it possible for Starbucks to more than double the price of coffee overnight?
The truth is that Starbucks didn’t actually invent the $4 coffee—they created the $2 experience.
$2 felt like a bargain for the feeling of belonging in a comfy chair at ‘the third place’.
A place we now feel a connection to at the sight of a single green straw, even when we’re not in it.
And a place we didn’t even know we wanted until Starbucks showed us that we clearly did.
As a marketer your job is not to convince people that your product or service is better and therefore worth more. Your job is to find, understand and serve the people who are ready to believe a different story about where the value really lies.
Image by Bart Heird.