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Solution for McGraw-Hill's Taxation of Individuals and Business Entities 7th Edition Chapter 12, Problem 1

by Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie W
758 Solutions 19 Chapters 34343 Studied ISBN: 9781259334870 Taxation 5 (1)

Chapter 12, Problem Discussion_Questions 1 : 1. Why is it necessary to consider all...

1. Why is it necessary to consider all constituencies when developing menu selections?

Step-By-Step Solution

1. Foodservice establishments typically appeal to certain types of customers—their primary customers. It is reasonable to say that fast-food restaurants generally appeal to young families and those interested in a quick meal at an affordable price; buffets and cafeterias tend to attract senior citizens; a small ethnic restaurant may appeal to the residents of a certain neighborhood; and a deli in an office building focuses on the needs of those who occupy the building. Designing an appropriate menu selection for the multiple markets in the typical customer base is critical.

Foodservice managers must know their customers. Getting answers to the following questions will help managers identify menu items that fit the customer base. What do the customers ―do‖ prior to coming in for a meal? Are they tourists, employees, travelers, or athletes?

How much time do customers have to eat? The longer the time available to dine, the more cook-to-order food can be offered to customers who are willing to pay a higher price.

How price sensitive are customers? Every location has a price thresholda range of acceptable pricesfor meals.

What is the reason for the diner‘s presence in your dining room? A special occasion? To experience the cuisine? Or is it just a matter of convenience? What is the customer‘s food expertise and consequent expectation? What is the sophistication of the palate of the customer base?

Good menu planning strategy is not complete without a periodic review of the demographics of an area—information about an area and the people who live there. In today‘s marketplace, psychographic information is just as necessary as demographic information. The more businesses ―customize‖ their services, the more important it is for them to understand the psychographic profile of their customers. Psychographic market segmenting involves gathering information about customers‘ lifestyle, attitudes, beliefs, values, buying motives, and so on. As management gets to ―know‖ customers, information is entered into their guest profile, creating the opportunity to carefully craft customized marketing programs to increase customer retention, satisfaction, and sales.

 

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