How People Are Spending At Lunch And Dinner At The Eaton Centre

1391 Words Nov 1st, 2016 6 Pages
Knowing how many times people (if at all) eat out at the Eaton Centre tells a few things. It begins by informing us on the frequency that people already purchase meals from existing restaurants, our competitors. Based on the frequency of purchases per week, we can assume that those who are purchasing more frequently probably prefer to spend less on their meals due to the costs associated. Using this as a transition question into price, we can get an idea of the frequency of purchase while the next pricing questions will ask for the specifics. Together, this information allows us to spot trends not only in the frequency of purchase but further into how much people are spending at lunch and dinner. This will allow us to develop our prices and cost structure to ensure that we are pricing our menu so that it is affordable to customers while maintaining our image.

This question is important as people have different spending habits in different situations and locations. In our case, we want to know how much people are spending on average for their lunch at our competitors. By finding out how much our potential customers are spending with our competitors for their lunch meal, it helps us establish our own prices, whether we are able to increase or decrease prices, or keep them the same. It will also inform us on whether we need to re-evaluate our offerings and how much they are costing us to make along with how we can lower the price if necessary.

This question is important for…

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