View the video link below. Tom Ryan, founder of Smashburger, explains how he exploited a gap in the hamburger market between the value-oriented fast food burger joint and the more time consuming sit-down restaurant. Smashburger sells premium priced gourmet burgers in an inviting atmosphere with speedy service. A key challenge for Ryan was identifying the right balance between price and quality. Discuss the following,
– how does Smashburger’s differentiation strategy allow them to charge premium prices?,
– what is Smashburger’s pricing strategy? (discuss the balance betwen price and quality),
– and what challenges did Smashburger face in the latest recession of 2008?.
Post your response. Post your response. Your main response should be a minimum of 150 words and no more than 250 words. You will also need to respond on at least two classmate’s response.
Link to “Smashburger”