Could the dollar menu soon be a thing of the past? It’s possible, according to findings from market research firm Phoenix Marketing International. A new study from the firm finds that customers don’t mind paying higher prices at restaurants as long as there’s a perceived value in the item or bundled items.
After viewing quick-serve ads, participants were asked if they would visit that particular restaurant within 30 days. Ads with value messages drove 20 percent more participants to report an intent to visit than ads without value messages.