There's a nice little place at Eglinton Station that sells pizza, subs, and breakfast. Their prices are very reasonable and the service they provide is impeccable.
There's also a place by my Grandfather's place that is constantly bustling that's called "P&M's" that serves ordianary food and ungodly good prices. Service is a little shotty, and the place is a little small, but you feel like part of the family there. (It's at Weston Rd and Little St if anyone's interested)
What do these two establishments have in common? Good old fashioned WOM. (WOM is "Word of Mouth" for those who don't obsess over marketing)
Where do these guys get such a good reputation? Mostly from their ability to serve their customers wants. Customers always like a good deal. Decent food for an excellent price can often times serve as more buzz worthy than excellent food at a decent price. However, the bigger bucks are usually in the latter.
So what can these little guys do to step up their profits? Well for one, they need to distinguish themselves. How many of these little spots are there in this or any other city? I'm sure everyone reading this blog can name a place or two in their town. So these little guys need to do a few things to really make it big:
Keep prices low
If this is one of your niche items, and something that helps create buzz, don't change it. Let's work on the Walmart/No Name theories and create a brand that synonymous with value.
Do Something Different
The most obvious example in this city is Lick's. While their prices have got out of control as of late, they came to prominence with the promise of old fashioned fun, with sing song workers. Do something different. Even if you make your club differently, or have a real neat way of presenting your milkshake or whatnot... do it so people remember, and tell other people!
You don't become the biggest thing since Mc.Donalds by being content with a one location franchise. Grow. Take on some risk. Put yourself in more places so more people can see you, and then tell their friends about you. Growth isn't cheap, but you will continue to be if you're just staying in one place.
A bit of a P.S. on Transformers. I saw the movie last night and I'm now thinking it's really just a subliminal campaign. Get the hot girl to make out with the nerd on the Camero, while the GMC Jimmy fights off the evil doers trying to destroy mankind. I don't think it was a particularly good placement of the Solstice, but outside of that I think GM will probably get returns on their investment...
The problem still remains that most of those users will not be repeat buyers because of the poor quality of the product they end up buying. Maybe GM should look into starting a subliminal cognitive dissonance campaign.