Managing Revenue with Pricing
Making price more variable is essential to maximizing revenue. This course presents pricing strategies you can use to make price more variable, and it considers the pros and cons of using variable-pricing strategies.
This course also examines how the availability of resources, certain staff issues, and financial impact are important considerations during the implementation of an overall restaurant revenue management strategy.
It describes the analysis and planning required during the implementation of a strategy built on variable pricing, price discrimination, price elasticity, price customization, demand-based pricing, rate fences, and menu engineering.
Who Should Take this Course?
This course is designed to show Foodservice managers how to use variable pricing to increase revenue at their restaurant.
Participants who complete this course will be able to...
- Select and implement pricing strategies to increase revenue
- Assess the financial impact of restaurant revenue management strategies
- Calculate the costs and payback periods associated with implementation
- Address implementation issues associated with staffing, management, and training
Module 1 - Developing a Pricing Strategy
- The Effect of Price
- Setting the Price
Module 2 - Implementing a Strategy
- Determine Revenue Increases
- Staffing and Management
- Sheryl Kimes, Prof Emeritus, School of Hotel Administration