2015, August, 31

Revolutionizing your pricing model to unleash infatuation

What if you challenged the established, traditional pricing model of your industry, and simultaneously unlocked customer and employee infatuation as the result?  This is what an intrepid restaurant owner in Pittsburgh, Pennsylvania did.

Bobby Fry, owner of Bar Marco, decided to do away with tipping in his restaurant earlier this year.  The results have been impressive, considering the spike in both revenues and profits.  In hindsight, this is perfectly understandable. Tipping is a major pain point for a large number of restaurant customers – it is cumbersome, awkward, and largely ineffective in regulating the quality of service.  Therefore its removal is a smart way to challenge convention, and to turn a customer pain point into a point of infatuation.

But why would this move also benefit employees?  Why might they be emotionally vested in this new pricing model as well, given that on the surface it deprives them of their primary source of compensation?  For the answer, I invite you to read the full article here, and then ponder how you could challenge the pricing model of your industry:

https://www.yahoo.com/food/restaurant-sees-profits-triple-after-it-ditches-121108634284.html

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