1. How much of a change in script does setting your own price constitute? 2. Would this...
Question:
1. How much of a change in script does setting your own price constitute?
2. Would this be seen as a competitive advantage in the restaurant industry?
3. How dependent on the U.K. culture is the idea? Would it work in the US?
It sounds like a recipe for financial ruin: A restaurant that allows customers to pay what they think their meal is worth. Yet the business tactic is proving a success and “paywhat- you-like” restaurants are spreading across Britain.
The idea was spawned by Michael Vasos, the owner of Just Around The Corner, a French bistro in north London, where customers often spend two hours drinking fine wine and gorge themselves on salmon stuffed with crab. Afterwards, they must work out their own bill and most, surprisingly, leave a fair or generous amount.
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Services Marketing Concepts, Strategies, & Cases
ISBN: 978-1439039397
4th edition
Authors: Douglas Hoffman, john Bateson