Common menu design strategies

Psychological pricing

  1. What is menu psychology? Explain (4points)

It is the process through which a restaurant best capitalizes on its menu by analyzing the popularity and profitably of each item listed on the menu.

  1. How is menu psychology used when designing a menu? What is its purpose?

It enables the restaurant to understand its audience and its needs hence helping the restaurant to market its well-prepared dishes and mostly sold dishes by making them stand out from the others (Chichulina, 2018).

  1. What are the three menu design strategies? Explain each strategy
  • Price indication strategy- is whereby the restaurant changes the way it indicates its prices on the menu list e.g., erasing the dollar sign reduces the attention of cost and making the guest think more of the food
  • Menu layout strategy- where the restaurant focuses on their best selling dishes by making sure that they appear on the first page since most customers don’t like to be overwhelmed by searching through the long list (Kumar, 2017).
  • Creating an internet menu strategy- the restaurant should upload their menu online and ensure that their website is assessable on both computers and mobile phone.
  1. What are two benefits of using each strategy
  • Increased restaurant profits due to more sales.
  • Customer retaining s as they feel understood and valued.
  1. What is one drawback of each strategy
  • These strategies hinder menu creativity and innovation.

 

  1. Would you use these strategies? Why or why not

According to Deshpande (2018), I wouldn’t use either of the strategies because I would like to run an innovative restaurant since integrating these strategies concentrates on what the clients want.

  1. What is psychological pricing?

It’s a pricing strategy that aims at appealing to the customer’s emotional side.

  1. How is psychological pricing used in menu design

Understanding the guest’s favorite meals and designing a menu that includes all them encourages them to pay for them without hesitation (Deshpande, 2017).

Altering the menu prices to previous lower digits makes them think the dish is cheaper.

  1. What are the three psychological pricing practices, explain each practice
  • Charm pricing- refers to selling a product at a price slightly below a whole number e.g., $ 4.99
  • Prestige pricing- refers to setting products price higher than usual to avoid a negative impact on sales. This practice attracts customers who relate higher price to quality.
  • Comparative pricing – refers to putting a popular product next to its generic version, which allows the customers to choose, thus giving them the bargaining power (Kumar, 2018).
  1. What are two benefits of using each practice
  • Increase overall business sales.
  • Encourages customers to subscription packages
  1. What is one drawback of each practice
  • It’s challenging to attract rational customers using old price or altering price digits since they always round it to the nearest higher amount.
  1. Would you use either of these practices? Why or why not

I would use the prestige practice since it encourages a higher pricing technique, which secures my business from reduced sales.

  1. What did you learn from his assignment? explain your answer

Any business needs to have a well-designed pricing system that attracts more customers since its profitability will much depend on it (Chichulina, 2018).

Sources

Chichulina, K. V., & Oleshko, V. V. (2018). EFFECTIVE SYSTEM OF PSYCHOLOGICAL PRICING. In Synthesis of science and society in solving global problems (pp. 53-57).

Deshpande, S. S. (2018). Various Pricing Strategies: A Review. IOSR Journal of Business and Management20(2), 75-79.

Kumar, S., & Pandey, M. (2017). The impact of psychological pricing strategy on consumers’ buying behavior: a qualitative study. International Journal of Business and Systems Research11(1-2), 101-1

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