Discuss About The Ptimization Menu Labeling Formats To Drive.
The journal by Kim et al. (2018) “International Journal of Hospitality” stipulates that the culinary programs teaches various methods and procedures of pricing meals and beverages to every culinary management student. It seems to emerge that most culinary institutions trust and believe in a world of profitable cafés and restaurants. As they carry out different serves for profit generation by serving countless meals and being able to deliver 34 percent of the food cost (Sharma & Kamrah 2017). The truth still remains that budgeting for food in a restaurant does not guarantee that they will be enough funds to do other things in the restaurants such as buying workers uniform, smallwares, rent, paying wages and salaries, and taxes (Kim et al., 2018). Furthermore, a high food costing or pricing can mean that a restaurant that a restaurant have been selling expensive food which contributes to more profit generation. In addition Kim, Byun, & Lee (2016) has mentioned that restaurant owners ‘should be always comparing their gross food instead of food cost from every item. The statement means that all culinary management students have well in-depth knowledge and understanding of the psychology behind the pricing of meals and drinks in culinary industry.
On the contrary, the finding of this report will be justifying the type of menu completed in assignment 2. The momentum acts the report shows that the pricing of a menu lies on various factors which have be addressed in the justification section of this same report. However, this report have located space for other researchers with more time and resources to deeply-engage in the investigation of other factors which can be deliberated to come up with a more effective and friendly restaurant menu (Kim, Byun & Lee 2016).
The main aim of this report is to justify the menu created or designed by the researcher (Berriel et al., 2018). The report aims at scrutinizing the effectiveness of a decent menu as it is required in the current culinary and hospitality industry worldwide.
Hong et al. (2018) has identified various instance to be used when creating prices for innumerable meals and beverages in a restaurants some of the important considerations must be put in place. The most significant consideration are making the price point, needed gross profit and the menu items cost which all have been consider it the menu created. The menu designed comprises of various foods including salads, nachos, appetizers, soups and salads, sides, soups and sandwiches. The prices on the menu are affordable the products being offered at the restaurant can be bought by any member of the community. The menu designed is suitable since the price range from $ 1.5 to $ 10 which is relatively cheap for the most community member around Lorne area. From the complete menu it can be deduced that the marketing rate point has been achieved which can also deduced that more client will get attracted to the restaurant resulting to more income. The income engender will enable a smooth operation of the business and even a source of living. The menu will also allow the rapid growth of the restaurant from its attractive color and visible background, thus in future most Lorne community members can secure employment opportunities there.
Market price fact
The marketing rice point is a main aspect that was considered mostly during the preparation of the menu has it important in every restaurant (Sharma & Kamrah 2017). The restaurant prices can be founded on the cost or gross profit without consideration of the market trends. Thus, in the menu prepared the market considerations have not be put in place because the price are too flexible. But, do to customers taste and preferences the prices might change has industry also change in terms of type of food being offered or beverages. For instance, the menu completed has low prices which means when competitors increases the prices on the same dishes and beverages its will still be accommodating to survive in the market. To be able to justify the price of the prepared menu the food offered at the restaurant will be of high value compared to other restaurants or cafes (Sharma & Kamrah 2017). The high value or added value can be the biggest segments or exotic components and good atmosphere, a better business location and availability of entertainment. Another advantage a good a marketing point is the promise as well as the delivery of unique selling in comparison to other competitors in the industry. Finally, the pricing gives value to the client first priority which make them to feel that meals worth its rate.
The cost percentages have been second handed in the preparation of the menu to keep up the original date of the recipe funds appropriately. The cost which resulted was used to figure the menu pricing procedures. The ingredients cost have also been put in to consideration when the completed menu was being prepared (Martin et al., 2018). The regularly updating of the menu have been consider as well and that the main reason why the menu is a customer’s friendly zone within the restaurant. The commercial meals costing and inventory programs done can assist when working out the items cost, by utilizing different formulas and valuation techniques and procedures. Conversely, the capability to connect a direct and broad line vending have been achieved in construction of the menu (Bergantino, Irione & Giammusso 2018). The broad line has allowed the automatic update of the prices as the marketing trends moves. Excel spreadsheets have been used to enable easy update of the menu when it is necessary which have minimized the time consumption inside the restaurant.
Gross profit shows the required amount to run and serve all guests have been workout as well. It is the most significant part which was considered mostly during the construction of the menu. In setting up the menu, customers taste and preferences was given the top priority (Blaise, 2017). Required gross profit enable the mangers to know what every meal costs and the approximated profit to be made. It important to look the financial statues of the business before making gross profit of a restaurant (Ahmed, 2016). Depending on the wages and salaries the food cost can either be smaller or larger which can be the outcome of more or less expenses to run a business. Throughout, the preparation of the menu various factors were deliberated not only the factor of making profit. As expenses from food cost can lead to more or less profit at the end of a business financial year. Moreover, before being aware of how to add gross profit in the menu the menu price should be painstaking first to the restaurant owner.
The prepared menu was a better indication of how much gross profit a restaurant can make annual when compared with other business. Martin et al. (2018) explained how to calculate the total gross profit the total expenses of a given year. The total gross profit is obtain by subtracting the total products and ideal profit of the same year.
From the calculation above the prepared menu was based on and created because it is an aim and goal of each and every business to make profit but not losses (Nova, 2018). The calculation above is based on the principle that a café or restaurant can attract many clients than other business around. Thus, finding out what amount can be collected from each individual it just a simple calculation. The division of acquired profit for the next year by the total consumers count for the previous year is carried out (Nova, 2018).
Total wanted client count ÷ preceding year client count = Acquired gross profit per customer
The number of a given above is a sample used to generate acquired gross profit of every consumer per annum (Nova, 2018). The statics have been utilized to come up with the completed menu. The advantages of this assumption is that the financial goals in the next year have been achieved in the current.
Gross profit per client x customers per year = Tangible gross profit
In the construction of the menu, the main objective was how to increase the actual gross profit by controlling the expenses on each and every consumer in a restaurant (McCoy, 2018). This also made it potential for the construction of the menu (Berriel et al., 2018). The tangible gross profit is calculated by multiplying the number of gross profit per consumer and the total number of consumers per year.
References
Ahmed, R. (2016). Application Navigation. In Cloud Computing Using Oracle Application Express (pp. 9-14). Apress, Berkeley, CA.
Bergantino, S., Irione, M., & Giammusso, A. (2018). U.S. Patent No. 9,864,960. Washington, DC: U.S. Patent and Trademark Office.
Bernstein, M., Lehrian, M. R., Olshavsky, R. M., Yip, Y. S., Weeldreyer, C. D., & Chronis, J. H.(2016). U.S. Patent No. 9,317,182. Washington, DC: U.S. Patent and Trademark Office.
Berriel, S. S., Ruiz, Y., Sánchez, I. R., Martirena, J. F., Rosa, E., & Habert, G. (2018). Introducing Low Carbon Cement in Cuba-A Life Cycle Sustainability Assessment Study. In Calcined Clays for Sustainable Concrete (pp. 415-421). Springer, Dordrecht.
Blaise, N. (2017). U.S. Patent Application No. 29/539,658.
Hong, J., Zhan, S., Yu, Z., Hong, J., & Qi, C. (2018). Life-cycle environmental and economic assessment of medical waste treatment. Journal of Cleaner Production, 174, 65-73.
Kim, E., Tang, L. R., Meusel, C., & Gupta, M. (2018). Optimization of menu-labeling formats to drive healthy dining: An eye tracking study. International Journal of Hospitality Management, 70, 37-48.
Kim, T. H., Byun, Y. C., & Lee, J. S. (2016). U.S. Patent No. 9,485,350. Washington, DC: U.S.Patent and Trademark Office.
Martin, A. K., Mitchell, K. J., & Thompson, S. K. (2018). U.S. Patent Application No29/596,615.
McCoy, C., Pedlow Jr, L. M., Wong, L. J., & Xiong, T. (2017). U.S. Patent No. 9,811,320. Washington, DC: U.S. Patent and Trademark Office.
Nova, F. T. J. (2018). MERCHANDISING ACTIVITIESOF TEXTILE HORIZON (Doctoraldissertation, Daffodil International University).
Sharma, C. B., & Kamrah, A. (2017). Unit-20 Learning Microsoft Windows Applications
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