Introduction

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CHAPTER SIX: CONSUMERS AND THE NEW VALUE EQUATION

Introduction

Cost-conscious consumers have created both challenges and opportunities for the restaurant industry. Savvy operators have responded with:

• Value-based promotions that work to drive traffic and keep customers coming back.

• Increased hours of operation – blurring day parts and/or adding lunch or dinner services.

• Decisions based on an understanding of consumers’ attitudes, behaviors, and dining patterns – learning from leaders in these fields who share essential knowledge about low prices vs. high expectations; the danger of compromising quality; the competitive edge of customer service and more.

	Introduction A Letter from Curtis Wilson, VP/General Manager, Restaurant and Lodging Industries American Express and the Restaurant Industry American Express Value Story
	Chapter One: Purchasing Powers Introduction Strength in Numbers Going Local Local Knowledge Purchasing Practices
	Chapter Two: Technology Matters Introduction Customers and Restaurant Technologies Taking Your POS to the Next Level Innovative Customer Interface Feedback on the Fast Track
	Chapter Three: Saving Green Save Your Energy Introduction Green to Go Baby Steps, Big Impact Marketing Green Briefing References
	Chapter Four: The Employee Equation Keep the Focus on Training Cutting Labor Costs Introduction Learning to Let Go: Trimming Your Workforce Legal Sidebar Building Morale in a Down Economy Morale-Building Ideas
	Chapter Five: Smart Marketing in Tough Times Communicating with Cautious Customers New Age Marketing: social networks and cell phones Introduction Sales Forces How To Sell More in a Slow Economy
	Chapter Six: Consumers and the New Value Equation Introduction Opening the Door to More Business Industry Outlook New deals: value and cost-conscious consumers
	Chapter Seven: Building Loyalty Introduction The Employee Connection Developing Loyalty – One Customer at a Time Turning Customers into “Members” The Power of Committed Customers
	American Express Restaurant Trade Program
	American Express Partners and Services
	Sources
	Acknowledgements

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