The challenge for many retailers is making sure they set the right price to maximise the return on their investment.

Earlier this year I came across a restaurant in the U.S.A. where they asked the customer to pay what they thought the meal was worth.

That idea has now spread. The Sunday Times (Aug 9/09) in West Australia reported on C Restaurant, one of the top restaurants in Perth. During weekday lunchtimes they are asking the customer to pay what they think the meal is worth. The menu has the true price on it.

Most consumers are paying a little less than the “list” price. But, they are booked solidly for the next month. A marketing campaign that is really working.

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