Price Of A Fast Food Restaurant - 1570 Words

Price Moe’s southwestern grill, like many other businesses, price their food using many different strategies such as value based pricing, cost based pricing and/or competition based pricing. Moe’s grill is known for their quality of food. Because of this, customers are willing to pay a higher price than they normally would when going to a typical fast food restaurant. Pricing this way is considered value based pricing. There are times when restaurants cannot just use one specific pricing, Moe’s also uses the competition based pricing method to effectively sell their product(â€Å"Moe’s Prices,† n.d.). Their competition includes Chipotle and Qudoba, these two Mexican cuisine restaurants also focus on their food quality and value. Because all†¦show more content†¦Promotion Moe’s Mexican grill is notorious for their broad span of consumers. They are liked by many different types of people and this is very important for a company, like Moe’s, that specializes in one genre of cuisine. They are only able to attract these customers by having a well devolved promotion plan. Promotion planning is one of the most important aspects of any business, because businesses are only able to thrive when their products are endorsed to many individuals. There are many ways to promote products such as the internet, social media, television, bill boards, sampling, etc. Although products are easy to promote intangible items are not easy to promote, therefore more detail goes into intangible endorsement. Moe’s is a very unique restaurant that does an amazing job at both. They are able to use other customers’ satisfaction to spread the word of their amazing southwestern cuisine. Moe’s unlike other restaurants gets its broad customer base by expanding their target audience. They allow for their employees and customers to interact with each other letting the customer decide what they want on their food while the employees may just help promote the most popular selections. Allowing for the customer to decide their own ingredients is an easy way to make sure the food being sold is exactly what the customer waned. And yet again once the customer realizes how much they enjoyed their products