The Attraction of Outrageously High Prices

Memorable Experience

 

Would you pay $200 for french-fries or €5,000 for a burger? Your rational response is to say ‘no way!’. But what if these food items deliver the most opulent, dreamlike culinary experience you ever had? Would you be tempted then?

 

So called ‘collectible experiences’ – where both the price and the indulgence of common consumables or services are raised to outlandish heights – is fast gaining popularity. Demand for such over-the-top experiences is being fueled by the pandemic – inspiring people to live more in the moment – and by new, imagination-expanding offerings – such as commercial space travel. It unlocks a fascinating dimension of consumer behavior, where high price becomes the catalyst for demand, rather than its deterrent.

 

Here is a really good, recent article on this phenomenon: https://www.bbc.com/worklife/article/20210823-why-people-pay-thousands-for-opulent-experience-foods

#customerexperience #consumerbehavior #spacetravel #smartstrategy #marketinnovation

The Greatest Show in Sports

savannah bananas

 

Well, that may be a slight exaggeration. But it’s at least the greatest show in baseball. The Savannah Bananas – brainchild of Jesse Cole, marketing wiz and entertainment pioneer – has completely re-imagined how a baseball game is played. It has infused contagious fun, humor, and immersive audience participation into a sport that is widely struggling to retain audiences and stay relevant to younger generations.

 

The result? The team has catapulted from practically a zero fanbase to continuously sold-out games that people travel hours to attend. And the Bananas have won the most games in their league since Jesse took over ownership, winning the league championship this summer. The message is simple, and one all organizations should look to take inspiration from: When you have fun, you perform better and your audience is much more engaged.

 

Check out this great video that tells the Bananas’ story: https://www.youtube.com/watch?v=T5RkB7_qNh8

 

#baseball #transformation #reinvention #innovation #customerexperience #smartstrategy

WPO Southern California Event

PPN 9116 2

 

I enjoyed my time last month with members of the Women President’s Organization. We met in Irvine, California for a half-day Master Class on the topic of ‘Re-Imagining Boundaries’. During the session participants were highly engaged in challenging themselves and each other on how to shape the future of their respective businesses for the post-Covid world.

 

#womenleadership #strategy #growth #diversity #businesstransformation

The World's Best Hotel

 mahali mzuri

 

Congratulations to Jon Brown and to the whole Virgin Limited Edition team for their spectacular resort - Mahali Mzuri - being selected as the world's top hotel by Travel + Leisure's recent ranking.

 

I spent an invigorating stay at MM a couple of years ago and can personally attest that the recognition is well deserved. The purpose of my visit was to feature MM as a destination for my executive retreat program. The property is not only stunning, it has the perfect blend of nature & luxury, intimacy & charm.

 

https://www.travelandleisure.com/worlds-best/hotels-top-100-overall 

 

#lifestyleandleisure #travelandtourism #luxury #Virgin #executiveretreat #leadership

My Chat with Vishen Lakhiani - founder of Mindvalley

Mindvalley2

 

It was a treat to be Vishen Lakhiani's guest on his Mindvalley podcast series recently. I consider Mindvalley to be an exemplary pioneer of knowledge sharing and lifelong learning, removing the lid off human potential.

 

I invite you to listen in to our conversation, which includes the impromptu application of my key principles of radical business creativity to audience members, as well as mention of how Mindvalley itself has successfully applied these principles: https://podcast.mindvalley.com/the-3-principles-of-radical-business-creativity-gabor-george-burt/

 

#learning #podcast #leadership #creativity #personaldevelopment #mindvalley #leadershipdevelopment #coaching

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