Luxury vs. Commodity

#115 - Luxury vs. Commodity ***** This week's episode is brought to you by: OVATION Get more feedback, more reviews, and more revenue with Ovation. Get started with 2,000 FREE text messages by visiting ovationup.com/chip ***** This week's episode is also sponsored by: RESTAURANT FUNNEL Generate leads, turn those leads into contacts, and then convert those contacts into actual guests that will rave about their experience. To get started, they offer a free Marketing Report Card for your business. Visit restaurantfunnel.com/chip ***** Even though they both get you from point A to point B… a Mercedes is twice as expensive as a Toyota. If you’re looking for a good red wine to pair with your steak, you might wander over to the aisle showcasing California Cabs. You’ll find that Screaming Eagle — if you’re lucky enough to even put your hands on a bottle — is ten times as expensive as Opus One. And the price tag for a brand new Hermes Birkin bag starts at about $35,000.  Okay… so why?  On this week’s episode we’re going to talk all about luxury versus commodity. Yes it’s about price and value… but there’s another component too this that’s worth discussing. And no you don’t have to serve a high-end product to high-end clientele for high-ticket prices to be able to apply these lessons to your own business. IMPORTANT LINKS:  https://www.businessinsider.com/hermes-birkin-bag-realreal-handbag-expert-so-expensive-2019-6 SURVEY: https://www.surveymonkey.com/r/SMWL93V *****Come join the community on Patreon where a monthly contribution will give you access to a bunch of different perks and benefits like monthly Q&A sessions, podcast swag, and one-on-one coachings with me. SUPPORT US: https://www.patreon.com/restaurantstrategy