This was going to be my answer. It’s all about perception. There’s not likely much difference between a cheap cup of coffee and a high end one, but the perception, at least to the consumer, is the more expensive coffee must be better. It’s possible/likely the more expensive cup tastes slightly better, but to the multiple they charge, unlikely.
The state flag of MA is likely to change in the near future. It depicts an Native American with an arm holding a sword above him. Some authority voted earlier this year to replace it.
NP59 t1_jaevzbz wrote
Reply to comment by virgilreality in ELI5- Given the average cost of a cup of coffee is marked up about ~80%, why hasn’t a company come in and charge significantly less to take a greater share of the market? by Educational_Sir3783
This was going to be my answer. It’s all about perception. There’s not likely much difference between a cheap cup of coffee and a high end one, but the perception, at least to the consumer, is the more expensive coffee must be better. It’s possible/likely the more expensive cup tastes slightly better, but to the multiple they charge, unlikely.