Increase Revenue & Maximize Profits without Reducing Guest Repeatability – Sound too Good to be True? Not with Us!
Operational Tips | 4.17.2012
Our Revenue Management Programs are Created Specifically for Restaurants, Retail and Hotels. The Process is Demand-Driven Pricing Methodology that is designed to Maximize Profit and Increase Revenue without Reducing Repeatability.
Driven by proven state-of-the-art statistical modeling, IRHC uses a proprietary analytical process that enables us to identify prices that yield optimal gross profit without negatively impacting customer traffic. IRHC consultants use sophisticated statistical inference to analyze demand patterns and determine specific trading relationships between products.
- Built from the store to the brand – An objective, quantitative approach to pricing that enables you to uniquely manage the long-term brand value on a micro level by letting the consumer set the right price
- Based upon your chain’s experience – Our method includes analysis of historical purchase behavior, the various pricing initiatives, commonly held beliefs and other strategies that have been put in place through the years. We also incorporate product trading relationships in your menu.
- Models unique to your Brand – IRHC provides chain specific modeling. We understand that each operation is unique.
- Set Price on High Demand, High Return To Net Items – for each individual product
- Ensure Pricing is Optimized– Compare to completion and track PMIX trends.
For more Revenue Management information, contact your Restaurant & Hospitality Consultants at International Restaurant and Hospitality Consultant Group today. Toll Free: 1-877-259-9196