The Effect of Loss Leader Pricing on Restaurant Menus' Product Portfolio Analysis

Eli Cohen · Richard F. Ghiselli · Zvi Schwartz

21 citations0/0 files storedJournal of Foodservice Business Research

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Consumer Market Behavior and Pricing Consumer Behavior and Marketing Influence Supply Chain and Inventory Management

Abstract

Drawing from economic and consumer behavior theories, this study outlines four theoretical reasons for menu item dependency, asserting that the assumption of item independency is violated in menurelated product portfolio analysis. Acase study of actual restaurant figures from two consecutive periods is analyzed. The data demonstrate how one such item dependency, namely loss leader pricing, affects the way in which the performance of several dishes is portrayed by two types of menu engineering models: the traditional, matrix-based approach and the multidimensional menu mix model. The results underscore theneed for a better menu product portfolio model, one that adequately addresses the interdependent nature of restaurants' product portfolio.

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References

1988The Moderating Effect of Prior Knowledge on Cue Utilization in Product Evaluations 1986A Reference Price Model of Brand Choice for Frequently Purchased Products 2005Reference Price Research: Review and Propositions 1995Empirical Generalizations from Reference Price Research 1983Prices as Signals of Product Quality 1997A Comparative Analysis of Reference Price Models 1988Prices and Price/Quality Relationships: A Longitudinal Analysis 1985Foodservice Organizations: A Managerial and Systems Approach

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2020Menu engineering re-engineered: Accounting for menu item substitutes in pricing and menu placement decisions 2019Customer-driven menu analysis (CDMA): Capturing customer voice in menu management

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