How to price the catering menu better?

What are the skills of menu pricing? I hope I can help you!

Recently, a tea egg with a price of 2899 yuan has become an online celebrity.

The cause of the incident was that Wuxi Taiyue Hotel publicly sold a limited supply of 100 tea eggs at a price of 2899 yuan. This tea egg is so expensive because of its "extraordinary origin":

Jin Junmei, a unique Tongmuguan product, was selected to breed eggs at an altitude of1140m, and stood for12hr to make eight secret ingredients such as fruit charcoal, Chaozhou red peat stove, Cordyceps sinensis and Dendrobium candidum.

Although the media consulted the relevant departments, the official response said that the tea eggs were priced in the market, and the hotel clearly marked the price, which would not violate the rules. The vast number of consumers still think that "sky-high tea eggs" are unacceptable.

Hotels can appropriately increase the price of dishes due to reasons such as decoration, dining environment, service and manpower, but if it exceeds the reasonable market price range, it is challenging the bottom line of consumers' acceptance.

For many restaurant owners, they are often worried about the pricing of dishes. If the price is high, customers will retreat. If they can't sell it, they won't earn it. If the price is low and the profit is too low, you won't make much money.

How to price the menu? Let's take a look at the following tips (original: red rice joining optimization)

Menu pricing tips

1 Market-based pricing method

The specific way is to compare the dishes, decoration, service, customer unit price and other aspects with the restaurants within a radius of three kilometers, and make a comprehensive analysis based on their own brand positioning, and then draw up the price of the dishes.

After comparing with the "RMB voting" price of competitors, the determined price will be more in line with the market rules and avoid the phenomenon of too high or too low price.

2-coefficient pricing method

Restaurant owners can consider this pricing if they want to control the cost within a certain range.

For example, the cost of fried rice is 6 yuan. If the food cost is to be controlled within 40%, then the pricing coefficient is 1/0.4=2.5. According to the formula of selling price = food cost × pricing coefficient, the price of fried rice should be 6×2.5= 15 yuan.

If the cost rises to 8 yuan, according to the formula, the price should be set as 20 yuan.

3 mantissa valuation method

I believe many people have seen that the prices of some commodities in supermarkets end with "8" or "9", such as "9.9 yuan" and "19.8 yuan", so changing the mantissa is a common pricing strategy.

Similarly, this pricing strategy is also applicable to the pricing of restaurant dishes, but the price of general dishes is measured by 5.

For example, if a dish is priced in 22 yuan or 23 yuan, customers will feel affordable when they see that the price does not exceed that of 25 yuan; If the mantissa exceeds 5 and the price is 27 or 28 yuan, customers will feel that the price is similar to that of 30 yuan, which may reduce their consumption desire.

Therefore, it is suggested that the price mantissa should not exceed 5.

4 package pricing method

Now the concept of package is basically recognized by the market, and consumers generally think that the price of package is cheaper than buying single items alone.

For example, a Dongpo Pork Rice 18 yuan and a Coke Rice 4 yuan add up to ***22 yuan. If the combined package price is 20 yuan, consumers will feel that the package price is more affordable and are more willing to pay for the package.

For restaurant owners, although the package price is lower than that of 2 yuan, the sales volume will increase. When sales go up, profits will naturally go up.

Listen to the advice of other bosses.

Jiangsu takeout shop Huanglaoban

Our store is separate from meals and takeout, and the price of single products in both channels is the same. There are combined packages and full reduction activities on the takeaway platform, and many office workers will strive for a single starting point for takeaway, which is conducive to the promotion of our store.

Guangzhou Lamian Noodles boss

We are a ramen restaurant, and the size of Lamian Noodles is divided into three types: small, medium and large. Because it is aimed at the business of community residents, the pricing is relatively cheaper. Lamian Noodles prices of primary, secondary and tertiary schools are 8 yuan, 12 yuan and 15 yuan respectively.

But when guests order small bowls and medium bowls, we will recommend medium bowls and large bowls to them. Their prices are not much different, and most customers will accept our recommendation, which invisibly increases profits.

N duo sushi brand franchisee boss sun

In the study of consumer psychology, there is a "veblen effect", that is, the demand of consumers is directly proportional to the price of goods. The higher the price of goods is set, the better it will sell, which reflects consumers' psychological desire for profligate consumption.

What our merchants want to build for them is products that meet high value. How to do it specifically? We can work hard to build brand culture, or we can be cautious about products and create a feeling that the more expensive we buy, the more embarrassed we are.