menu pricing and strategy
Title: menu pricing and strategy
Category: Literature / English | Words: 2688 | Pages: 11.4 (approximately 235 words/page)
menu pricing and strategy
Menu pricing and strategy
Webster’s defines menu as “a detailed list of food served at a meal.” This
definition came out of a kinder, gentler time for the restaurant owner, a time when
competition was less fierce, tax laws were less rigid, and operation was not measured by
yield management, and the patrons knowledge and expectations were lower. The role of
the menu in a food service operation far exceeds the basic dictionary definition. …
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considerations for the price will include price-value perceptions of customers, and this
price-value consideration will include whether they have received their money’s worth
when they pay their check. The objective of any pricing system or method is to arrive at
that combination of prices that maximizes customer counts (demand), improves the
average check, and improves contribution to margin while achieving the lowest overall
food cost percentage relative to optimizing revenue and profit.
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