Wednesday, May 1 Here's the reading for tonight (the same as the handout from today's class). As usual, please post your comments or bring them to class on Thursday.
Pricing is the most essential part of starting a new business. Not considering a fare price that make sure not only cover your expenses, but gives you a reasonable profit. It is really complicated to measure, or determine the right price. A true and error method would be rubbish here, due to that one price most be maintained for a decent amount of time.
Regarding P&B team's project, sitting up a price would be the hardest part of our plan. The restaurant that we are trying to open will combine the beauty of having your meal in a place that have an elegant ambiance, plus a "Slow food fast" as what Chipotle founder once said.
I think for pricing, a survy need to be done to ask the customers about there point of view. Would the customer pay better to have a "Fast,Slow meal in a very fashionable place?
Pricing is the most essential part of starting a new business. Not considering a fare price that make sure not only cover your expenses, but gives you a reasonable profit. It is really complicated to measure, or determine the right price. A true and error method would be rubbish here, due to that one price most be maintained for a decent amount of time.
ReplyDeleteRegarding P&B team's project, sitting up a price would be the hardest part of our plan. The restaurant that we are trying to open will combine the beauty of having your meal in a place that have an elegant ambiance, plus a "Slow food fast" as what Chipotle founder once said.
I think for pricing, a survy need to be done to ask the customers about there point of view. Would the customer pay better to have a "Fast,Slow meal in a very fashionable place?
I guess we ought to wait for that answer.