Value Pricing For A Restaurant

Marketing research is an important aspect of organizations to establish the value of products. The marketing tool is what convinces consumers to buy. Kudler fine food is an organization that has a selection of gourmet foods. As well as a variety of gourmet cooking essentials that is mainly for a higher clientele. There is an important direction toward the marketing goals to anticipate customer’s needs and assure that they are satisfied with the overall service and quality of the products provided.

As we identified from the previous study, the new generation of fast food restaurant tends to come back on a focus on the product quality. Street is directly involved in this trend, as they propose higher prices for better quality product. More and more restaurant chains focus their concept on quality (shake shack, habits, chipotle etc.). This restaurant chains are the one with the highest IPOs and the most effective in term of cash flow. Future competition will be in the product top quality.

From the secondary data findings, a restaurant should aim most of its advertising efforts at enhancing customer awareness so that customers at least consider that brand in the suggested set of alternatives. The television commercials or magazine advertising, support activities and charity involvement in social, cultural, sports, or other kinds of public events can improve a firm 's brand awareness. Another important conclusion thing is that the perceived quality of a specific restaurant brand and products is found to significantly affect its performance. It goes without saying that restaurants should consistently provide quality products and services, such as serving food in promised time, serving ordered food accurately, and staff should be knowledgeable about menus, convenient operating hours, and ensure appearance. Not only is this good business, but it strengthens the brand.

Socially it will create a new business market with business partners and create “Smart Growth” which focuses on changing the atmosphere of the community and where everything is located (Bealocalist.org, 3). Lastly, a restaurant must abide by certain government regulations because it will have to follow certain rules and regulations that will have to be approved by the health department. Opening a restaurant will have a positive and lasting impact on the community as long as restaurant owners abide by the legal requirements and adapt to the community. A new restaurant will benefit a community from an economical perspective because it will allow the flow of money to go from the people to the restaurant and then through taxes. These taxes will be put back into the community which will then be used to make the society better which in turn will help the people.

4. The Place: Ambience was seen by other researchers that it can give restaurants a competitive edge (Horeco, 2000). According to Belman (1996) “today, the most important thing is design and concept.” The comfortable atmosphere is very important in the restaurant (Dulen, 1998), therefore the restaurateur must invest money to improve their appearance in order to attract sociable customers who like to have new experiences (Goldstein, 1998; Soriano, 2002) From those explanation of theories above, we can know that service quality is usually measured by how well the service delivery matches the customer's expectations. And once the service quality matches the customer’s expectations, it leads to customer loyalty.

In order for the website to reach its maximum efficiency, it must stand out from other competitors and needs to capture and attract users to visit the restaurant. They must be able to identify your goals and have a sense of the atmosphere of the place as well as showcase of your food. We can create a captivating site that displays the inviting We can create a website to provide valuable information to your guest that lets them know the location of your restaurant, a map and step by step instructions, too. One of the greatest advantages we can include in your website is an automated reservation system that allow guest to make their own reservations. Our design would allow you to share current specials and new menu items to keep your customers up to date.

Innovation in the hospitality industry Managers in the hospitality industry with set of guidelines that can be used to develop and support various types of innovations with the purpose of improving customer satisfaction, profitability and market competitiveness. The last word of technologies reflects on purchase decisions and customer satisfaction, playing important role in the market share and revenue. The tourism depends on modernization due to make lower costs and higher profit, such as improved services and products, environmental issues, information and communication technologies. The case is not different for hospitality, this industry is extremely competitive sector and innovation is one of the main causes of competitiveness. The hotels and restaurants alike create, distribute and use innovation in order to get and support long-term competitive advantage.

As the restaurant industry continues expand, the customer will have more choices to choose the dining restaurant. Therefore, maintaining the customer satisfaction through the better service quality is very important to prevent customer go to another restaurant (Seyanont, 2007 cited in Kristanti, 2012) Furthermore, as Holjevac et al (2011) says, customer satisfaction may have the direct and indirect impact on business outcome, which means the business profitability will affect by the customer satisfaction (Anderson et al, 1994, Yeung et al, 2002 and Luo and Homburg, 2007, cited in Holjevac et al, 2011). Thus, it is very important to meet customer expectation to satisfy the customer. Wu and Liang (2009, cited in Markovic et al, 2010) claims that the service quality in the restaurant consists of three main elements, environmental elements like lighting, materials, design; employees, knowledgeable, professional; and customers, inter... ... middle of paper ... ...y theories and websites that related to hospitality industry. Besides using the secondary method, primary research will be used as the main type of investigation to complete this study.

Knowing what to use first and when it was purchased is important for keeping waste at a minimum. An inventory system like when-to-manage tracks food costs, manages menu recipes, and helps with ordering and vendor management. When-to-manage “is... ... middle of paper ... ... you to monitor a variety of operations, and add on interfaces like inventory and reservation management as you go. Starting with the most affordable programs can help with the restaurants efficiency and profit right away, while adding a competitive advantage. As the business grows, the restaurant can purchase more programs to implement into the system they already have.

Marketing Effectiveness Memo: Marketing is an important aspect of every business, especially hospitality establishments because they operate in an increasingly competitive market. Every business should develop effective marketing strategies that are geared towards attracting customers. When developing marketing strategies, the focus of the initiatives should be ensuring that the product and/or service meets the demands of customers. These marketing initiatives should also act as the foundation for developing and sustaining long-term relationships with customers. One of the major establishments in the hospitality industry that has benefited from comprehensive marketing strategies and initiatives is McDonalds Corporation in fast food operation.