CASE STUDY George is the manager of the Eatery restaurant. The restaurant has 100 seats and has been open for 10 years. Historically the restaurant was fully booked every day, however lately this has changed. George has been reviewing the numbers for the June, he is disappointed to see that the overall revenues are still down. In the month of May, George was concerned to see that the overall revenues for the restaurant kept trending down and decided to introduce a new updated menu in June hoping it would attract more customers. Chef Carla decided to only use local products only for the new menu. The new menu prices where determined by using a traditional pricing model; Product Cost Percentage. The cost prices of the local products are higher and by using this model the selling price for the menu items increased automatically. However, because of the quality of these local products, George and Carla were convinced people would be happy to pay more for these new menu items. George and Carla are desperate what to do next? Question 4a (2 marks) George decides to review the average check and RevPASH for his restaurant. Calculate the Average Check and RevPASH for each time slot for Friday night. Friday Night Available Guest Hour Seats Served Revenue RevPASH Average Check $ 4-5PM 100 10 $ 700.00 $ 5-6PM 100 35 $ 2,520.00 $ $ 6-7PM 100 85 $ 4,420.00 $ $ 7-8PM 100 100 $ 4,900.00 $ $ 8-9PM 100 100 $ 4,700.00 $ $ 9-10PM 100 75 $ 3,525.00 $ $ 10-11PM 0 0 0 $ $ Total 600 405 $ 20,765.00 $ $ Seat Utilized: Question 4b (4 marks) When analyzing the data of question 4a, name 1 (one) example of a demand pricing strategy that George could use to increase the revenues of the restaurant between 4-6PM: Why? (max 150 words - use rubric) Question 4c (4 marks) When analyzing the data question 4a, name 1 (one) example of a demand pricing strategy that George could use to increase the revenues of the restaurant between 7-8PM: Why (max 150 words - use rubric ) CASE STUDY George is the manager of the Eatery restaurant. The restaurant has 100 seats and has been open for 10 years. Historically the restaurant was fully booked every day, however lately this has changed. George has been reviewing the numbers for the June, he is disappointed to see that the overall revenues are still down. In the month of May, George was concerned to see that the overall revenues for the restaurant kept trending down and decided to introduce a new updated menu in June hoping it would attract more customers. Chef Carla decided to only use local products only for the new menu. The new menu prices where determined by using a traditional pricing model; Product Cost Percentage. The cost prices of the local products are higher and by using this model the selling price for the menu items increased automatically. However, because of the quality of these local products, George and Carla were convinced people would be happy to pay more for these new menu items. George and Carla are desperate what to do next? Question 4a (2 marks) George decides to review the average check and RevPASH for his restaurant. Calculate the Average Check and RevPASH for each time slot for Friday night. Friday Night Available Guest Hour Seats Served Revenue RevPASH Average Check $ 4-5PM 100 10 $ 700.00 $ 5-6PM 100 35 $ 2,520.00 $ $ 6-7PM 100 85 $ 4,420.00 $ $ 7-8PM 100 100 $ 4,900.00 $ $ 8-9PM 100 100 $ 4,700.00 $ $ 9-10PM 100 75 $ 3,525.00 $ $ 10-11PM 0 0 0 $ $ Total 600 405 $ 20,765.00 $ $ Seat Utilized: Question 4b (4 marks) When analyzing the data of question 4a, name 1 (one) example of a demand pricing strategy that George could use to increase the revenues of the restaurant between 4-6PM: Why? (max 150 words - use rubric) Question 4c (4 marks) When analyzing the data question 4a, name 1 (one) example of a demand pricing strategy that George could use to increase the revenues of the restaurant between 7-8PM: Why (max 150 words - use rubric )