Have you ever wondered why the mom-and-pop coffee shop on the corner sells a cup of coffee for $2 while Starbucks gets to charge $4 for the same thing? More importantly: Have you ever wondered why there are five times more people buying coffee at $4 at Starbucks than there are buying it at $2 a cup at the other store? Popcorn costs $0.50 at the grocery store and $10 at the movie theater. Ferraris sell for 30 times the price of a brand new Ford, but they don’t cost 30 times more to produce.
That’s because driving a Ferrari is an experience. Sipping a coffee at Starbucks is an experience. So is eating popcorn at the movie theater.
Abercrombie&Fitch is great at selling experiences too. They don’t sell you clothes. They sell you the experience of 20 very attractive men and women models in their slick store that is always playing great loud music. This website offers rental condos in Costa Rica; this one sells the experience of Costa Rica. Same product; very different marketing approach.
So, what experience are YOU selling?