Modern Restaurant Management
OCTOBER 23, 2019
If I see myself as a high roller, I’m going to treat myself to a posh restaurant (and expect to be catered to). Perform a competitive analysis. How we imagine ourselves determines which businesses we align with. If I pride myself on my social consciousness, I’m going to look for a restaurant with ethical practices.
The Restaurant Times
SEPTEMBER 15, 2020
Conduct a location analysis on factors such as demographics, real estate prices, crowd density, target audience, expected footfall, average income, accessibility to market, and parking spaces. . It is highly advisable to do a competitive analysis to understand how your competitors are doing in that location.
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The Restaurant Times
MAY 25, 2021
This type of analysis will include observing, documenting, and reporting your target audience’s spending habits and consumption behavior. Competition Analysis: Identify your competitors and include them in your cafe business plan. The analysis must include: Market segment catered to by the competitors.
Les Roches
JANUARY 26, 2024
Market area analysis Understand your chosen market area’s characteristics.
Revenue Hub
NOVEMBER 4, 2022
Look at your competitors A proper competitive analysis will allow you to evaluate what others in your space are offering, and how you can differentiate yourself from them. In order to create a niche for your hotel, it is imperative that you sell your product to a selected customer base that will benefit the most from your offer.
Xotels Hotel Revenue Management
SEPTEMBER 1, 2020
This is equally important to how services delivery takes place, as customers are open to switching to their choice if they find services better catering to their needs (80% of consumers, Qubit). Competitive Analysis. We cover this further in our Hotel Trends article diving deeper into personalization in hospitality.
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