'See's Candies means getting kissed,' Buffett said in 1998. 'If we can get that in the minds of people, we can raise prices.'
CEO says people associate the boxes of chocolates with romance. Therefore, See’s can price them based on their emotional value instead of their production cost.
„If you go to your wife or your girlfriend on Valentine’s Day – I hope they’re the same person – and say, ‚here’s a box of candy honey, I took the low bid,'“ Buffett told shareholders in 2017, „It loses a little [impact] as you go through that speech.“ „We made a judgment about See’s Candies that it would be special,“ he added. „Fortunately, we were right.“People had „taken a box on Valentine’s Day to some girl and she had kissed him … See’s Candies means getting kissed,“ he told business-school students. „If we can get that in the minds of people, we can raise prices.“
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