Concept Development - Market research

5 important questions on Concept Development - Market research

What are food and beverage demands?

Food and beverage demands are wants for specific food and beverage products, but the level of demand is also affected by the capability of the consumer to buy them and to meet the other costs which may be involved.

How can F&B operators influence demand?

By making their product desirable, valuable, available and affordable.

What are (10) goals a consumer can have when they decided to choose a food and beverage product?

1. Belonging, status
2. Attention
3. Entertainment
4. Privilege
5. Relaxation
6. Intimacy
7. Romance
8. Convenience
9. Physiological and psychological comfort
10. Satisfying hunger and thirst.
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What is a goal set?

The collection of goals an individual has when choosing a food and beverage product.

What is a good value for a f&b operation?

Good value for a food and beverage operation is where the worth is perceived as greater than the cost.

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