التفاصيل البيبلوغرافية
| العنوان: |
Kish: Where Customers Pay As They Wish |
| المؤلفون: |
Kim Ju-Young, Natter Martin, Spann Martin |
| المجموعة: |
RePEc (Research Papers in Economics) |
| الوصف: |
New restaurants often do not manage to succeed within a reasonable amount of time. Exotic restaurants especially face the problem that price promotions may not attract new customers because prospective customers might associate very low prices for unfamiliar food with a high functional risk. This paper describes how Pay-What-You-Want (PWYW), a new pricing mechanism, was successfully implemented at Kish, a moderately priced Persian restaurant in downtown Frankfurt. After the initial testing phase, which had the characteristics of a promotional offer, the restaurant decided to permanently offer its buffet lunch under PWYW conditions. We report the long-term effects of this decision as well as a simulation demonstrating that profitability is mainly based on 'trading up' the continuous inflow of new customers to the more profitable dining offer where prices are fixed. ; Pay-What-You-Want, pricing |
| نوع الوثيقة: |
article in journal/newspaper |
| اللغة: |
unknown |
| العلاقة: |
https://doi.org/10.2202/1546-5616.1118Test |
| DOI: |
10.2202/1546-5616.1118 |
| الإتاحة: |
https://doi.org/10.2202/1546-5616.1118Test |
| رقم الانضمام: |
edsbas.D636913 |
| قاعدة البيانات: |
BASE |
