Revenue Management For The Food And Beverage Industry

This second edition of the unique textbook Revenue Management for the Food and Beverage Industry has been updated and revised to take account of current trends within the food and beverage (F&B) industry. Easy to understand and filled with cases in point to engage and entice readers, this book offers practical ways to improve productivity and bottom-lines through innovative techniques. Methods such as queue management, menu planning and reengineering, marketing and sales techniques are outlined, providing readers with skills to allocate the right inventory to the right customers at the right price at the right time. These useful techniques are also put into practice today by airlines, hotels, retail malls, car rental agencies and hospitals. With this book, readers will be able to: 1. Discover methods of using the menu as an effective marketing tool to improve business performance. 2. Identify strategies for different business operating hours. 3. Appreciate the role of differentiation and how it complements segmentation. 4. Understand how queue management impacts revenue management. 5. Examine the possibilities of increasing revenue without sacrificing customer satisfaction. Features: 1. Cases in Point This book make use of local and international situations as case studies that make it easier for students to comprehend the concepts and theories presented. 2. Easy-to-read language The language used is simple and easy to understand, and makes for an effective read. 3. Visual representation The book features diagrams for a better illustration of concepts and theories 4. End-of-chapter discussion questions At the end of each chapter, discussion questions are provided for students to reflect and revise concepts and theories learnt. Readers can expect to find updated cases, examples and diagrams that reflect the latest development in the food and beverage industry. Contents: Chapter 1: Introduction to Revenue Management Chapter 2: Seven Core Concepts of Revenue Management Chapter 3: Seven Core Uncertainties of Revenue Management Chapter 4: Revenue Management Analysis Tools for Restaurants Chapter 5: Customer Segmentation and Differentiation Chapter 6: Behavior of Diners Chapter 7: Pricing Strategies of Food and Beverage Businesses Chapter 8: Menu Design and Menu Reengineering Chapter 9: Queue Management and Seating Control Policies Chapter 10: Revenue Enhancement for Restaurants