Navigating profitability in the restaurant sector has proven to be an enduring challenge, with the past three years introducing unprecedented layers of complexity. Taking ownership of your pricing strategy emerges as a vital practice—an excellent means to propel business performance, particularly in the face of these challenging times.
Pearson Ham Group (PHG) is a pricing consultancy focused on helping organisations achieve lasting competitive advantage through better pricing. At the core of PHG's mission is the commitment to enhancing profitability while meticulously safeguarding the integrity of the brand's value proposition.
Through collaborative efforts, PHG supports restaurant brands in crafting consumer-centric strategies that are not only highly analytical but also incorporate key market insights. This approach empowers decision-making processes, ensuring optimized profits aligned with the unique dynamics of the restaurant industry.
PHG tailored solutions enables our clients answer key pricing questions and make confident decisions
• How much menu inflation can the brand safely implement?
• How can the brand implement price adjustments strategically, safeguarding volumes and minimizing the potential for customer "bill shock"
• Which products and which sites can implement price adjustments and which ones cannot?
• What level of tactical initiatives (promotions & discounts) need to be introduced to improve covers yet minimising discount leakage?
• What are consumers’ real price perceptions and price expectations? What is the brand value perception and how does it compare to the competition?
• What is the brand price position vs competitors? Where are the opportunities?