For a long time, the pricing strategy is a very important part of the whole fried chicken restaurant operation process, it is directly related to the consumer's willingness to shop, if the price is too high, the consumer's willingness to buy will be significantly reduced, and at the same time will choose the low-cost replacement product, on the contrary, if the price is too low, it is the entrepreneur himself who suffers.
In fact, consumers have a scale in their minds, and they will weigh various factors such as price, quality, etc. when buying a product. If entrepreneurs want to continue to attract consumers, they also need to balance the relationship between revenue and expenditure to ensure the sustainable development of fried chicken restaurants.
So, the question is, if you want to attract consumers, can you really only achieve the goal by lowering the price? In fact, it is not necessarily true, entrepreneurs should know that the final foothold of fried chicken pricing is the word "balance", which can not violate the laws of the market, but also need to take into account the acceptability of consumers, so as to formulate a reasonable price strategy.
As for how entrepreneurs set prices, you may wish to explore the precautions for fried chicken pricing from the following aspects:
1. Cost analysis
The first thing entrepreneurs need to make ends meet is to know where their money is spent, including the cost of ingredients. Only by understanding the structure of costs, such as personnel costs, store rent, and operating costs, can we know the break-even point, and set a reasonable price for fried chicken products based on an accurate grasp of target consumers and a full understanding of competitors, and then achieve sustainable profitability by constantly adjusting the price.
Second, market positioning
Know who your target consumer group is and understand what this group wants, only in this way can you set the corresponding price according to the target consumer group, either take the high-end route, or take the "mass route" suitable for all ages, of course, the cost of fried chicken itself is not high, and if the entrepreneur is overpriced, not only can not instill the "high-end" concept to consumers, but will have the opposite effect.
3. Competitive product investigation
Competitor research is actually one of the most actionable methods, because by analyzing the existing price points of competitors, it is easier to know which products are suitable for what price, such as being on the road to the existing road, or can be priced slightly lower than the price point of the peers, so as to quickly establish a competitive advantage in the market.
In short, the price is not as low as possible, the specific situation should be analyzed on a case-by-case basis, only by grasping the consumption needs of consumers, and setting the right price can we continue to attract customers to the store to consume.