In today’s inflationary economy, there are lots of stories about companies raising prices. Yet today, there are a few brands that vow to hold prices steady – as they have for decades. The two brand I am thinking of are AirZona and Planet Fitness. AriZona has charged $.99 for its 23 ounce cans of iced team for 30 years. Planet Fitness has offered $10 monthly memberships—also for 30 years. For both products, the price has become part of their brand’s positioning. That makes changing them more difficult. There are different reasons and ways that each brand does this. To learn more read:
- “Why Planet Fitness hasn’t raised its $10 monthly gym price in 30 years” (CNN.com)
- “AriZona Iced Tea CEO vows to keep the 99-cent price tag ‘for as long as we can’” (CNBC.com)
Both of these might be useful examples when you cover the economy and inflation (Chapter 3), positioning (Chapter 4) or Price (Chapters 17 and 18).