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Restaurant Market Research: Ultimate Guide to Market Analysis

7 Shifts

Just like a well-crafted mission statement will help guide your business decisions, identifying and understanding your target customers and competitors through restaurant market research will give your business a competitive edge. Do you want to find out which food items your customers love the most? With the 4.5% With the 4.5%

Marketing 370
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Customer Service Trends in the Restaurant Industry to Look For in 2020

Modern Restaurant Management

Now that consumers have become more particular with dining, service standards have skyrocketed, and expectations are higher than ever before. Statistics show that 96 percent of consumers from across the globe say that customer service plays a critical factor in choosing a brand they’ll be loyal to. Self-Service Tech.

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ARE INDEPENDENT RESTAURANTS PRICING THEMSELVES OUT OF THE MARKET?

Culinary Cues

From my experience, it is difficult to experience a dinner for two in a moderate full-service, independent restaurant for less than $120 without gratuity. Look at the cost of raw materials required to produce those items and ask a simple question: “Can we afford to sell these items and will people pay the price we need to charge?”

Pricing 415
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CHEFS – SIMPLE AT A DIFFERENT LEVEL

Culinary Cues

Wine lists that resemble an encyclopedia of the wine making craft are just the price of admission. The price they pay is a lack of balance in their lives, relentless stress, and always concerns about when their star will lose its shine. Leave your customers speechless and your employees beaming with pride.

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THE LINE IN THE SAND WITH RESTAURANT PRICING

Culinary Cues

We deal with highly perishable goods, unpredictable customer behavior, swinging door staffing, and constantly escalating cost of goods. Restaurants get hit from all angles so when there is a chance to push the envelope on pricing – many do. How do we continue to market wines at $20 a glass or cocktails in the same price category?

Pricing 442
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WILL THE RESTAURANT EXPERIENCE BECOME IMPERSONAL

Culinary Cues

This is not the normal amount of angst that has been present for decades fickle customer tastes, rising cost of goods, changing demographics, or escalating rents; there are far deeper concerns that make everyone scratch their heads in wonder. Every restaurant and restaurateur are struggling to figure it out how am I going to make this work?

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THE COMPETITION EFFECT

Culinary Cues

When the choice is degrees of excellence then customers will view the community as a destination for a great meal. [] COMPETITION DRIVES INNOVATION At first, restaurants in a competitive market will do what they can to keep up and follow the lead of those first innovators. This is how neighborhoods or towns become known as food destinations.