Thursday, October 04, 2007

Name Your Price As A Marketing Strategy

The British rock group Radiohead is generating all kinds of international publicity by offerering a download of their new album at a special “you name the price.” So, just what if, your restaurant designated a special “you name the price” day where guests come in and order off of a special menu and they pay whatever they want?  Maybe the only restriction is that it has to be above $5 to cover food cost. 

Is this daring and risky? Yes. Is it worth a try? Is it worth the potential publicity you could get out of it? I say yes.

Posted by jcohen in • Restaurant Marketing
(2) Comments • (0) Trackbacks • Permalink

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  1. Joel, This is a great thought, there is a restaurant in Perth Australia that has generated enormous amounts of FREE publicity by not having prices, you simply pay what you think is fair, and if you can’t afford anything thats O.K.
    Here’s some more info on it http://stuff4restaurants.com/blog2/2007/09/17/they-must-be-crazy-a-restaurant-where-you-decide-how-much-you-pay/

    Lindsay Polson  on  10/05  at  01:32 AM

  2. “Name your own price” restaurant is daring...risky, of course, outright crazy; however this innovative way of separating your restaurant from the others will definitely make your place stick out and get a review in the paper.

     on  11/06  at  02:55 AM

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