Menu Costing and Pricing Strategies: Planning and KPI Development

This report provides an analysis of menu costing and pricing strategies, focusing on key considerations such as overhead expenses and various pricing approaches like competitive pricing. It emphasizes the importance of effective methods for accurate costing to maximize profitability, particularly for businesses like Robin and Co. The report also explores menu development, including the use of Key Performance Indicators (KPIs) such as turnover rate, to measure success and align with overall business objectives, utilizing a Le Carte design to meet specific customer requirements. The conclusion highlights that focusing on expense management and adopting appropriate costing approaches are crucial for achieving competitive growth, supported by references to relevant academic literature. Desklib offers a wide range of solved assignments and past papers for students.

Menu Development, Planning and
Design
PART B

PART 2
INTRODUCTION
 Costing plays essential role in bringing functional
change in business rapid advancement within customer
requirements and improvising functional growth competitively.
 The presentation will analyze cost and pricing of menus, and
approaches to be used in pricing of effective menu parameters and
in depth analysis on latest working benchmarks.

Key considerations that need to be taken into account when
costing and pricing menus
 For preparing specific costing and pricing among menus there are some of the specific considerations, which have
to be taken care for improving functional working efficacy within longer time period. Costing and pricing of menus
have to be evolved on functionally, where technical growth is integrated on working operations.
 Overhead expenses: Rent, marketing budget and new renovation costs are some of the essential overheads expenses
which need to be analyzed when costing and pricing menus productively on working targets. By adhering on
overhead expenses, there is further pace evolved on towards fundamental sale growth where overhead expenses
have to be optimized on rapidly.

Approaches to menu costing and pricing with effective usage of
effective methods for accurate costing and price menus for maximizing
profitability
 Menu costing and pricing with effective usage of effective methods develops new
maximized profitability aspects informatively.
 Robin and Co. further aims to develop expertise by selecting best approaches in menu costing. The
approaches for menu costing and pricing with effective usage for costing and pricing in menus for
maximizing profitability can be analyzed as follows:

CONT…
 Pricing by competition: It is method which involves setting prices in
relation to prices of competitors within industry, where it is value based
pricing for gaining rapid functional factors such as customer demands.
Pricing by competition signifies new working expansion to be evolved
on strategically, and creative benchmarks to be gained on.
 By utilizing pricing by completion, café will be able to develop
synchronized working grounds diversely and enhance on rapid scale
growth.

Menu development including KPIS to measure success
produced for overall business objectives in organization
 The menu development including KPIs can be analyzed to be widely essential, for producing overall business
objectives planned on specifically. By developing specific KPI company aims to bring on new functional goals worked
on strategically, and technically improvise working targets. Menu is in Le Carte design, which has been prepared taking
specific customers’ requirements.
 Turnover Rate: Rogan & Co aims to adhere menu development KPI by focusing on turnover rate, as it will enable to bring
on exact functional idea about revenue attained and also to further develop optimum functional growth strategically.
Turnover rate further signified that company aims to adhere towards intricate working expertise innovatively, and leverage
on specific efficacy paradigms.

CONCLUSION
 Report in recent study has concluded Rogan and Co. by
utilizing specific focus on overhead expenses, direct and indirect expenses
will be able to gain working growth competitively.
 Research also summarized that Rogan and Co aims to adhere towards
adopting best KPI, and approaches of costing to develop timely working
growth actively.

REFERENCES
 Clapp, J., 2018. Mega-mergers on the menu: corporate concentration and the politics of sustainability in the global
food system. Global Environmental Politics.18(2). pp.12-33.
 Irie, K. and et.al., 2020, August. A Study on Menu Planning Method for Managed Meal-Consideration of the Cost of
Ordering Ingredients. In IFIP International Conference on Advances in Production Management Systems (pp. 679-
685). Springer, Cham.
 Karadi, P. and et.al., 2019. Menu costs, aggregate fluctuations, and large shocks. American Economic Journal:
Macroeconomics. 11(3). pp.111-46.
 Lee, C., Pung, J.M. and Del Chiappa, G., 2022. Exploring the nexus of tradition, modernity, and innovation in
restaurant SMEs. International Journal of Hospitality Management, 100, p.103091.
 Munir, K., 2022. Sustainable food waste management strategies by applying practice theory in hospitality and food
services-a systematic literature review. Journal of Cleaner Production, 331, p.129991.