IMPROVEMENT OF PRICE FORMATION MECHANISM IN PUBLIC EATING ESTABLISHMENTS
Journal: Journal of Research on Trade, Management and Economic Development (JRTMED) (Vol.1, No. 2)Publication Date: 2014-10-29
Authors : Sergiu PETROVICI;
Page : 99-104
Keywords : public eating establishments; mechanism; price; premium of trader; weighted average price; marketing approach;
Abstract
The author proposes a new mechanism of price formation in public eating establishments, which represents a combination of goods and services: a) food preparation, b) sale of goods, c) organization of consumption. Since public eating establishments represent an activity which combines the production with services, the author suggests keeping separate accounting of production and circulation costs. This is only the initial phase of price formation mechanism in public eating establishments. The next phase is to establish the resulted price, which includes the associated discounts depending on consumers’ demand for cooked dishes and marketing actions to serve customers. The author concludes that the price formation mechanism cannot be based on the calculation of cost of goods plus the bonus of trader, but this process should be adjusted through the marketing approach based on consideration of factors (behavioral, visual, indirect etc.) which influence the customers’ behavior.
Other Latest Articles
- THE EXPERIENCE AND OPPORTUNITY OF IMPLEMENTATION OF RESEARCH-BASED ACADEMIC EDUCATION AT TRADE CO-OPERATIVE UNIVERSITY OF MOLDOVA
- BASIC ASPECTS FOR MODELLING THE BEST OPERATING PRACTICE FOR THE TRANSFERABILITY OF INVESTMENT ECONOMIC BENEFITS
- TERRITORIAL FEATURES AND PROSPECTS OF USING OF RECREATIONAL POTENTIAL OF RIVNE REGION RURAL SETTLEMENTS
- IMPACTS OF GRID SPACING AND CUMULUS SCHEMES ON THE QUALITY OF RAINFALL FORECASTS OVER TANZANIA
Last modified: 2014-10-29 19:34:48