In the long term, it would be wiser to use product differentiation as a method. Since restaurant food is extremely common and widely available, restaurant owners can introduce new and interesting concepts to their food. For example, restaurant Hooters is known for its scantily-clad waitresses, and this sets apart the diner from other restaurants. This will make the product more price inelastic as there are fewer substitutes. The owner can then raise prices to generate revenue.
Could have used other "healthier" restaurant as examples.
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Choice Pickings
L.E.W.D
2 comments:
well, I guess it goes in line with your happening havoc image. haha.
yk: Happening and havoc. LOL. Anyone can be happening and havoc in NJ.
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