Updated: Jun 20, 2020
What could be the best game plan in increasing your prices without compromising the number of your customers?
Mastering the art of "Perceived Value" is proven to be one of the most effective strategies if you are thinking of increasing your prices anytime soon.
Perceived value simply means how people view and understand the worth of your business, what advantages your products or services give them as compared to others.
In a restaurant business, the most important is the perceived value of food or the restaurant itself.
The first step in achieving the perceived value of your food is to “Put yourself in your customer's shoes.”
Here are some important things to remember when doing this:
As restaurant owners or managers we should be very good at detaching ourselves from our operational or managerial jobs.
Whenever you make plans for your company, you should never forget to think and see things from a customer’s perspective before making your decision.
Keep in mind that a good manager gives high value to his/her customers more than anyone else.
Walk into the restaurant from the front door and put ourselves in our customer's shoes.
Think and act like one of the customers.
Whenever you serve food or beverages, think how will you react if you are the customer.
As a customer, how will you feel about the way they serve you?
What can you say about the amount of time it took the waiter to give you your order?
Understanding the needs and the demands of the customers should always be on top of our priority list.
Describe what you see and try to answer the following:
What is your impression about the appearance of the restaurant?
Are you satisfied with the cleanliness?
What can you say about the ambiance it gives you?
How do you feel about the staff, the food and the service?
How's your overall customer experience?
If you want to build a great, long-term business, you should never stop thinking about matters from your customer's point of view.
If you don't put yourself in your customer's shoes, it is going to be hard for you to find ways to improve.
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