Transcription
McDonald's, every single other competing competing restaurant at the time, where they would have gone out and researched people, "What do you want from a diner?" They would have said, "Really high quality food and a massive range of choice."
McDonald's spotted two extraordinary things about food. People particularly like food when it's very consistent because an evolutionary instinct has said, "You've eaten something that tastes like this before. You're still alive. Therefore, it's safe to eat again." Ray Kroc of McDonald's said, "People don't want the best burger in the world. They want a burger that tastes just like the one they had last time." That's why anybody who's worked in McDonald's will know you toast the bun for a precise number of seconds.
Starbucks, probably their psychological insight was, "You can't charge $2.50 for a coffee if you're a cafe, but if you call yourself a coffee shop, you can." If somebody only does one thing, we tend to assume they're much better at it than someone who does lots of things, and will pay correspondingly.