Without that element, there would be no explanation for Marketing other than pure Brand Awareness promotion working (and McDonalds is definitely beyond needing more Brand Awareness, at least in the Developed World)
Even then, it doesn’t explain a lot of how Marketing does its work (namelly the stuff they took from Psychology and use to do things like create associations between brand and specific feelings on people’s subconscious - you know, the way cars are “freedom” and perfumes are “sex”).
And don’t get me started on other techniques that prey of human cognitive weaknesses (for example, FOMO would not work with the fabled Homo Economicus that underpins so much of Free Market Theory)
Anyways, a ton of present day enshittification (and that includes this kind of price inflation) relies on people having a well entrenched positive perception of a brand after years of having a relationship with it (i.e. chosing it as customers) and there being quite a lot of momentum behind it. It also relies a lot on using a “slow boiling” effect to keep people from spotting the full picture of the changes.
According to economic theory, “when price exceeds value.”
“Perceived value”
Without that element, there would be no explanation for Marketing other than pure Brand Awareness promotion working (and McDonalds is definitely beyond needing more Brand Awareness, at least in the Developed World)
Even then, it doesn’t explain a lot of how Marketing does its work (namelly the stuff they took from Psychology and use to do things like create associations between brand and specific feelings on people’s subconscious - you know, the way cars are “freedom” and perfumes are “sex”).
And don’t get me started on other techniques that prey of human cognitive weaknesses (for example, FOMO would not work with the fabled Homo Economicus that underpins so much of Free Market Theory)
Anyways, a ton of present day enshittification (and that includes this kind of price inflation) relies on people having a well entrenched positive perception of a brand after years of having a relationship with it (i.e. chosing it as customers) and there being quite a lot of momentum behind it. It also relies a lot on using a “slow boiling” effect to keep people from spotting the full picture of the changes.
Apparently quite a few people have a high tolerance for what they value.