"Cheap" is not a good story

I saw this sign on a recent visit to New York City.  Haven’t been back since so I don’t know if the $1 pizza store opened up. 

I loved the idea because new ideas that help products become more available to more people are a wonderful thing.

But an even better thing is building enough equity in a brand that it’s value can never be questioned.

So I’m not so sure about a store that sells cheap pizza.  Pizza I know and love (and trust) doesn’t cost that much more than a buck.  The $1 pizza strategy may lead people to think of the $1 pizza in the same category as $5 Rolex’s and $10 Gucci bags. 

A better idea?  Make better pizza and charge more for it.

In the long run, the stories people tell about a product are what stick, and Cheap isn’t a great story.  Just look at brands that were formerly considered premium, like Tropicana Orange Juice, now fighting for shelf space with store brands because they stubbornly kept putting their product on sale over and over and over.

If the $1 pizza people envision stores going up in Chicago, LA, and beyond, they may want to consider a different story.  If they want to sell out of a card table on Broadway, they may soon have their wish.