Question
A. Give a new wine bar advice on how to differentiate itself and increase profitability. Describe the emergence or development of a competitive advantage using
A. Give a new wine bar advice on how to differentiate itself and increase profitability. Describe the emergence or development of a competitive advantage using internal and external changers that meet customer needs and create differentiation opportunities using the phrase "Differentiation vs Cost Leadership".
B. Typically, a wine bar costs 18 to 25 percent of sales. Therefore, before other costs, net profit is about 80%. It's marginally more affordable than food once labor and overhead are taken into account. Around 10% of total sales represent the average total profit. Obviously, there are significant price differences between various wine brands. What are the primary differentiating factors that determine the possible price premium for different wines?
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