One issue that new(ish) entrepreneurs face is how to position their products based on price. Starbucks, long known for bringing America upscale coffee prices is today introducing Via, an instant coffee. A 3-pack is $2.95 or $9.95 for a 12-pack - that is 98 cents a cup or 83 cents a cup. Read the article or watch what consumers have to say about their first taste or watch (video below) CEO Howard Schultz talk about Starbuck's down-market move. Will this move by Starbucks be successful? As a very small business, could an entrepreneur have the same success with this sort of mixed message? How would you go about discovering whether your customers want a less expensive product?
Wednesday, September 30, 2009
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