Disney on Ice: A Lesson on Pricing and Context
If you're looking for a fun-filled family day out, Disney on Ice won't disappoint. But did you know it can also teach you a valuable lesson in pricing and context?
Let's start with the popcorn. A bag of kernels at your local Sainsbury's might set you back £1.45, but at Resorts World, a popped Disney-branded bag will set you back a whopping £15. Sure, there's some extra labour involved, but is it really worth that much?
As someone who's not a parent, I won't comment on the manipulative impact these kiosks can have on children. But what struck me were the long queues of people buying into the Disney brand.
So, what can we learn from this? The next time you're setting your prices, think about the context and environment you're selling in. Your price point in London might not be the same as in Reykjavik, where it could be considered a bargain.
Just like water is abundant in a mountaintop stream but scarce in the desert, the value of your product or service is relative to its surroundings. So, take a step back and evaluate your pricing strategy with a global perspective.
Disney on Ice may be a magical experience, but it can also be a lesson in pricing and context. Don't underestimate the power of understanding the environment in which you're selling - it could make all the difference to your bottom line.