Menu Engineering – profitability and popularity – how these two factors influence culinary and cocktail “real estate” in menus. How a competitive review, F & B gap analysis & opportunities in menu redesign converge to make for a more profitable menu program.
A menu is more than just a vehicle to show guests what you have to offer. A menu can improve their entire experience, boost the perceived value of your brand, strategically drive customer buying decisions, and increase your profits.
Tastes change, whether that’s because of seasonal preference, shifting consumer trends, or changes in your customers economic situation. But through the lens of menu engineering, your approach to profitability also becomes more fluid.
Stake out the COMPETITION: Understanding not only your price and margin strategy – but also that of your competitors – will help you set more accurate price points for your food and beverage menu selections.
Mind the GAP: Too many margaritas not enough martini’s? Three burgers but no chicken sandwich? It’s a balancing act to ensure you’re on trend with emerging profiles while still offering tried and true fan favorites.
Seek out an OPPORTUNITY: Learn how to infuse your brand position – do you want to be known as “handcrafted?” Show off your open kitchens or take opportunities to speak about what makes your brand unique like “the freshness of the bread baked on site each morning.”