HTM 2030 Lecture Notes - Lecture 3: Cocktail Waitress, Job Analysis, Inventory Turnover

• School: University of Guelph
• Department: Hospitality and Tourism Management
• Course: HTM 2030
• Professor: Iain Murray

Document Summary

Sales controls: optimizing the number of customers. Attracting the highest volume of clients: maximizing profits. Earning the highest levels of profit from menu items: controlling revenues. The accurate recording of sales and collection of monies. Increasing the volume of customers, especially during non-peak periods: offering incentives, expanding product and service offerings, expanding mix of customers (target markets) Operators must: understand customer needs, have the ability to meet many of these needs, attract/communicate this to customers. All things equal, customers will choose the most convenient restaurant. The farther away from a population, the fewer customers a restaurant can reasonably expect to attract. Exceptions: destination restaurants, time of day/customer flow patterns. Downtown restaurants for lunch; suburb restaurants for dinner: uniqueness of offerings. Homogenous products: so similar to others that customers do not develop a preference, will purchase least expensive. Differentiated products: sufficiently different from others so that customers may develop a preference, perceived uniqueness can be either real or imagined.