Premium product: how to create a higher-priced option and sell more

Having a higher-priced option on the menu does two things: it sells to those who want the best and, above all, it makes the middle item look like a great deal. It's one of the oldest and most effective pricing tricks. Here's how to use a premium product in your favor.

Why the premium sells — even when it doesn't

The anchor effect: faced with an expensive option, the middle option looks balanced and the cheap one looks "skimpy." Without the premium, the customer compares the middle with the cheap and leans cheap. The premium repositions the perception of the whole menu.

How to create a real premium product

It's not just slapping on a high price. The premium has to deliver perceived value:

• Better ingredient, larger portion, special combination.
• Presentation and description to match.
• A good story ("our loaded version," "the house edition").

The structure that works: good, better, premium

Offer three tiers in the same line:

• Good: an accessible entry.
• Better (what you want to sell): the balance — where most people go.
• Premium: the anchor that elevates the other two.

Most choose the middle one — exactly the plan.

The premium also attracts an audience

There's always a customer willing to pay more for the best. Not offering the premium leaves that money on the table. And premium buyers tend to be less price-sensitive — good margin.

Watch out

• The premium has to make sense (expensive without value pushes people away).
• Don't complicate the operation with something hard to deliver consistently.

How Quickap helps

In Quickap you build the good/better/premium line with variations and polished descriptions, highlight what you want to sell, and use reports to see the effect on the average ticket. Smart pricing, laid out visually on your menu.

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