The best way to balance your menu is to know what items are more prone to price fluctuations and surround them on your menu with the more stable menu items. Know How to Price Your Menu Menu pricing is an art and to do it right, you have to know the food costs. Knowing how […]
Setting menu pricing for the products you sell from your food truck is one of the most crucial components to running it, because the prices you set directly affect your ability to sell, cover costs, and generate your desired level of profit. Food cooked on food trucks is normally priced on a per item basis. […]
For years, restaurant owners have argued that a higher minimum wage means pricier meals.Now some restaurants in states that recently raised the minimum wage — including Arizona, California, and Colorado — are putting the proof in customers’ checks. Surcharges of 3% to 4% to pay for higher labor costs are “the emerging new norm,” a […]
And here’s another thing: by lowering your price, you could be making that meal less desirable to the consumer. Why? Because a lot of people associate cheap prices with poor quality. (Just think back to the last time you were looking for a nice bottle of wine and automatically rejected everything under $20.) What Apple […]
This view of people of color as sources of “cheap” labor bleeds into our restaurant culture: Immigrant food is often expected to be cheap, because, implicitly, the labor that produces it is expected to be cheap, because that labor has historically been cheap. And so pulling together a “cheap eats” list rather than, say, an […]
When it comes to pricing your services or products, you will be surprised to know that pricing changes can effect your business quite a bit. If you think about it, you probably have competitors, so your customers don’t need to buy your services or products. They usually do it because of your unique selling proposition, […]
New app City Munch lets diners pay less during quieter periods to help restaurants put bums on seats, offering real-time deals in your area. It’s 4pm and you’re hungry. You open your City Munch app and see there are six restaurants nearby offering up to 50pc off their food. Ten minutes later, you sit down […]
Driving sales and traffic is difficult for many restaurants these days. Yet some chains manage to do both. The legendary burger brand Krystal, for example, has applied a successful pricing strategy for decades, putting their iconic square-shaped burgers at its core. As a result, sales and traffic have climbed. … Krystal offers 12 of its […]
Pricing and quality approach to food and beverage, as well as careful design elements that speed and enhance service, is direct response to fan concerns As a stated goal from the outset of design, Mercedes-Benz Stadium is reimagining the fan experience. Today in the building’s first completed concession stand, stadium leadership announced a game-changing food […]
Key findings Increasing the meal price by 10 and 20% when choosing French fries was associated with respective 10.9 and 21.8% absolute reductions in French fries purchases, while reducing the meal price by 10 and 20% when choosing fruit for dessert was associated with absolute increases in fruit purchases of respectively 25.1 and 42.4% (all […]
Pricing News Daily is a digest of top pricing strategy in the news, strategy expert and technology leader’s thought leadership, industry news and events, and resources for pricing professionals, business owners, creative professionals, and independent contractors. This Edition is brought to you by: SPOSEA B.V. SPOSEA B.V. drives increased profitability for SAP users by SIMPLIFYING […]
This Week in Pricing > 7/15/17
This Week in Pricing is a recap of the week’s best pricing focused news, strategy expert and technology leader’s thought leadership, industry news and events, and resources for pricing professionals. This Edition is brought to you by: SPOSEA B.V. SPOSEA B.V. drives increased profitability for SAP users by SIMPLIFYING SAP’s Price Data Optimization, Management and Execution. […]
Smartphone Market Competition Will Keep iPhone 8 Prices Below $1,200 | eWeek
There’s no question that an Apple iPhone is an expensive device. The cheapest iPhone 7 will set you back $649. A fully tricked-out iPhone 7 Plus costs $969, which is really expensive for any smartphone. But if mobile market blogger’s prediction becomes reality, the iPhone 8 prices will reach a record high when it’s introduced […]
Strikes stall normal life in district | The Hindu
While the dealers would refill their stocks on Wednesday, the shortage is expected to continue for another day. According to Thiruvananthapuram District Petroleum Traders Association secretary P.K. Biju, the stir has been organised in protest against the alleged discrepancies in the dynamic pricing system of petroleum products and the alleged failure of oil marketing companies […]
Pricer’s Points: The Impact of Global Changes on Pricing | Jesper Hansson
We want to hear from you and how you see this impacting your daily activities. Dr.Stephan Liozu and Dr. Andreas Hinterhuber are conducting this short survey with PPS on the topic of global pricing. The results will be published in the Journal of Professional Pricing and the Journal of Revenue and Pricing Management. The survey […]
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