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5 Overlooked Facts of Restaurant Pricing

January 30th, 2014 | Posted by CCorman in Restaurants

Nation’s Restaurant News recently published an article by APT SVP Jonathan Marek about the five often overlooked facts about restaurant pricing. Jonathan discusses the following about pricing strategies:

  • “You can’t understand the impact of changing prices without a test versus control analysis.”
  • “Cross-elasticity rules restaurant economics.”
  • “Price elasticity varies by store — a lot.”
  • “If you have a franchised concept, your franchisees are likely testing prices for you.”
  • “Pricing analysis should not be outsourced.”

Here is the link to the full article: http://nrn.com/opinions/5-overlooked-facets-restaurant-menu-pricing

 

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