Disney just announced that its Food Innovation Science Lab (FISL) has successfully tested the Pym Particle technology, the same technology used to shrink Ant-Man and the Wasp.
The most shocking item from FISL: The Quantum-sized Pym-ini Sandwich, which comes with salami, rosemary ham, provolone and sun-dried tomato spread on toasted focaccia. The family-sized sandwich for up to 8 people is served with marinara dipping sauce and an arugula salad.
Unfortunately, the only thing the Pym Particle technology actually worked on was the price.
What?
Did you think Disney finally perfected the shrinking ray?
They gave that up after Honey, I Shrunk the Audience. (Google it: It starred Rick Moranis, you might as well Google him too while you are at it)
Back to the Pym-ini… Coming in at $99.99 It is one of the most expensive sandwiches in the world.
It was actually test marketed at 59.99 and the 99 dollar version won!
What does a real 100 dollar sandwich created by humans and not a fictional zapping ray have to do with your business?
EVERYTHING!
So let’s unpack (figuratively) this sandwich and for all of the delicious mo.ney making strategies that you can use in your business or practice.
Story: Disney is a story telling company. Always has been. Without a compelling and entertaining story, 99% of Disney rides would suck. Think about it, the actual roller coaster is not that exciting, but because it is wrapped into a story, it becomes more magical.
What story can you tell to make your business more than it really is?
Pricing: Disney is not afraid to charge a premium for its products. A hundred bucks for a sandwich? Heck no! Actually if you break it down and 6-8 people share the sandwich, it comes out to about 16 bucks a person.
Can you create a premium product/service or bundle them together for hefty price tag?
Testing: Had Disney just gone to market with the 59.99 version of the sandwich, it may have been a flop, leaving a ton of money on the table. But through testing, they discovered guests wanted the larger more expensive sandwich!
It is exactly this kind of strategy that I will be revealing at my September boot camp at Walt Disney World for a select group of entrepreneurs.