Restaurant and Bars
Restaurant and bars operate under the same constraints as a bedroom or meeting space: perishable inventory of a fixed capacity. Therefore the principles of Revenue Management can be applied in much the same way. For most businesses the introduction of a few simple principles can have considerable positive impact. In the food and beverage arena some of the opportunities we can explore with you include:
| Understanding Demand | Customer Buying Motivations, Product Mix, Forecasting, Product Packaging, True Competition Analysis |
| Creating Demand | Profitable Packaging. Customer Relationship Marketing, Capturing In-house Opportunity, Effective Upselling and Cross Selling |
| Managing Demand | Capacity Utilisation, Menu Profitability, Customer Profit Contribution, Menu Engineering, Managing Complexities of Time |
| Technology Capabilities | Maximising Functionality and maintaining System Integrity, |
| Distribution Opportunities | Effective use of Intermediaries |
| Monitoring Performance | Market Intelligence, Business Intelligence (RM Metrics for Food and Beverage) |
"The greatest challenge to any thinker is stating the problem in a way that will allow a solution."
"Focus 90% of your time on solutions and only 10% of your time on problems."
"Within the problem lies the solution."
"Every great and deep difficulty bears in itself its own solution. It forces us to change our thinking in order to find it."
"To solve any problem, here are three questions to ask yourself: First, what could I do? Second, what could I read? And third, who could I ask?"
"An undefined problem has an infinite number of solutions."
"Believe it can be done. When you believe something can be done, really believe, your mind will find the ways to do it. Believing a solution paves the way to solution."
"You won't find a solution by saying there is no problem."
"It is a commonplace of modern technology that problems have solutions before there is knowledge of how they are to be solved."