Hospitality Management Learning Modules is a series of concise and self-contained modules written by experts in the hospitality industry. They are designed with both students and instructors in mind. These modules can be used as stand-alone documents or combined to form a custom instructional packet tailored to fit the unique needs of the instructor and course curriculum. Due to the consistent and streamlined format, most modules can be covered in one or two 90-minute class periods.
About this module:
This module will explore differing price structures in the restaurant industry and the managerial...Read more
Hospitality Management Learning Modules is a series of concise and self-contained modules written by experts in the hospitality industry. They are designed with both students and instructors in mind. These modules can be used as stand-alone documents or combined to form a custom instructional packet tailored to fit the unique needs of the instructor and course curriculum. Due to the consistent and streamlined format, most modules can be covered in one or two 90-minute class periods.
About this module:
This module will explore differing price structures in the restaurant industry and the managerial tradeoffs made in selecting the optimal structure to fit specific restaurant situations. Firms create effective pricing structures based on economic and marketing factors including target market selection, costs, market segmentation, customer behavior, etc. Understanding the unique market structures and cost structures associated with each price structure facilitates the design of the pricing structure which maximizes profit and customer traffic. Dominant price structures that will be examined include a la carte, Buffett, Fixed Price Menu, Tiered, and Pay What You Want, as well as their derivative price structures of Add-on and Two-Part Tariffs. Students will learn the details of these pricing structures to enable managerial decisions and guide restaurant policy.
This module is part of the "Food and Beverage Management" curriculum, which is built around nine clusters:
Introduction
Special Segments and Operations
Responsible Food Service
Marketing and Entrepreneurship
Menu Planning
Facility Planning
Service Procedures
Process and Revenue Management
F&B Control Procedures
About this module:
This module will explore differing price structures in the restaurant industry and the managerial tradeoffs made in selecting the optimal structure to fit specific restaurant situations. Firms create effective pricing structures based on economic and marketing factors including target market selection, costs, market segmentation, customer behavior, etc. Understanding the unique market structures and cost structures associated with each price structure facilitates the design of the pricing structure which maximizes profit and customer traffic. Dominant price structures that will be examined include a la carte, Buffett, Fixed Price Menu, Tiered, and Pay What You Want, as well as their derivative price structures of Add-on and Two-Part Tariffs. Students will learn the details of these pricing structures to enable managerial decisions and guide restaurant policy.
This module is part of the "Food and Beverage Management" curriculum, which is built around nine clusters:
Introduction
Special Segments and Operations
Responsible Food Service
Marketing and Entrepreneurship
Menu Planning
Facility Planning
Service Procedures
Process and Revenue Management
F&B Control Procedures
- ISBN10 0133104338
- ISBN13 9780133104332
- Publish Date 16 December 2013
- Publish Status Active
- Publish Country GB
- Imprint Pearson Education Limited
- Language English