The importance of data driven decisions explained with hamburgers
In the 1980's, A&W tried to compete with the McDonald's Quarter Pounder by selling a 1/3 pound burger at a lower cost. The product failed, because most customers thought 1/4 pound was bigger. The Third Pounder burger was priced the same as the Quarter Pounder but had more meat, and outperformed McDonald's in blind taste tests, with customers preferring the flavour of A&W's burger.
