HADM 1360 Lecture Notes - Lecture 3: Fast Casual Restaurant, Market Segmentation, Ihop

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16 Aug 2016

School

Department

Course

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HADM 1360

Spring 2015

Ben Lawerance

Cornell University

Note Type: Lecture Note

Lecture Number: Lecture 3

Economics of the Restaurant

• Restaurant business is driven by economic

• Restaurant must be opened where there is a market

• Menu is a way of market segmentation

Ways to Classify

• Price Tiers

• Levels of Service

• Type of Ownership

• Food Category

Attributes expected in a fast casual restaurant

• Limited Service or self-service formats

• Speed - faster than casual - slower than QSR

• Customization - more than QSR

• Quality - fresher than QSR

• Higher price than fast food, lower than casual

• No drive through

Model: Different Types of FAFH / Restaurants

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