Why McDonald’s Has Pricing Power
Last February, Wendy’s told us that its digital menu boards would change during the day. Assuming burger prices would rise when demand increased, customers protested. “No,” said Wendy’s CEO. Their menu board let them lower prices. But there is much more to the story.Like Wendy’s, McDonald’s has digital menu boards: Handy for enticing diners, the digital boards display promotions. Showing different prices at different times and days, they also introduce new products. Indeed, for all new information, whether its a burger or a drink, a discount or a price hike, the digital board can say it all. ….[READ]
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