Phil Jenkins

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“It is incredibly important for any business, no matter how great the demand, not to charge a customer more than the good or service is worth—even if the customer is willing to pay more.” He felt that even if someone was willing to pay $2,000 to eat at Next, that customer would leave feeling, “Yeah, that was great but it wasn’t worth $2,000.” And crucially, Kokonas believes that such a customer will not come back, and may share his disgruntled experience with other potential diners.‡
Misbehaving: The Making of Behavioral Economics
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