Renaming products with sophisticated language enables businesses to command higher prices
Shaan Puri · Lead Gen Businesses, Islamic Finance & COVID-19 Virality | My First Million Podcast 03-10-2020 · Mar 13, 2020 · at 46:15
Shaan Puri reflects on lessons learned running a sushi restaurant, explaining how product naming and menu descriptions drove pricing power.
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“We realized that if we just described things better or differently with better words people would buy more and we could charge more because people wanted to have sushi that was more sophisticated. So when we called it, you know, whatever you know, Atlantic salmon with a blah, blah, blah, rather than just saying salmon, that was better. Or if we would create a whole new word altogether and put a little trademark next to it, that was even better than using Common words.”
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