Restaurant pricing

[ThePublisher]

A few weeks ago somebody posted up a link to a website where there had been a study on pricing in restaurants and perception on pricing.

It was really interesting but I can't find the link now. Could the person who posted it please post it up again?

Thanks very much

 

[Dawg]

Was it this one? It's interesting anyway.
The Google terms you may find useful are'menu engineering' and 'menu psychology'.
Bon appetit.

 

[ThePublisher]

Wasn't that one, but an interesting piece none the less. It was a study about pricing ending in zeros, 95c, 99c, that sort of thing.

I was reading it with half an eye on my own business pricing, but I have a friend whose family have recently taken over a pub and I think it would be a useful read for them.

 

[Dawg]

Trawl the archives here. That comes up every few months, and there is a long thread from about 3 years ago which has a shed load of info, if I recall right.

 

[diamond1]

I think so, you can see the archives and find out what you need. Hope that it will suceed.

 

[ThePublisher]

Google was my friend in the end, this was what I was looking for.

http://www.entrepreneur.com/tradejournals/article/75262273.html

 

[Dawg]

Good find.

 

[Scott-Copywriter]

A lot of it is fairly common sense. With some products, value is a factor, so you use specific numbers to make the item seem as low priced as possible. However, with more luxurious items, a higher cost actually increases the perception of quality, so it would have an adverse influence to make the price look as low as possible.

In fact, if you have a £480 luxury designer item, then rounding the price up to £500 could increase the amount you sell.

Nice to see it thoroughly tested though.