Title

The Business Of Restaurants: 2001 And Beyond

Keywords

Branding; Customer experience; Knowledge-based management; Restaurant management

Abstract

Of all the needs and observable trends that will go into the new economic structure of restaurants, there are three, which will predominate. First, restaurant companies will identify themselves as custom retailers, not as factories manufacturing meals. As part of this realization will come the acceptance that restaurants are primarily retailers of two consumer products: time and customer experience. Second, competition in this retail environment is based on finding a point of differentiation for the consumer. This differentiation, the transformation of products from simple commodities into unique, monopolistic offerings, is built on the principles of brand management. Third, no restaurant enterprise will be able to survive, much less compete, if it does not transform itself into a knowledge-based system whose primary management function is to accumulate, secure and maximize intellectual capital. © 1999 Published by Elsevier Science Ltd. All rights reserved.

Publication Date

1-1-1999

Publication Title

International Journal of Hospitality Management

Volume

18

Issue

4

Number of Pages

401-413

Document Type

Article

Personal Identifier

scopus

DOI Link

https://doi.org/10.1016/s0278-4319(99)00045-6

Socpus ID

0033473068 (Scopus)

Source API URL

https://api.elsevier.com/content/abstract/scopus_id/0033473068

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