Summary: Introduction To F&b Management

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• 1 History of the F&B Industry

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• 20th Century – Industrial Era

  
  

  • Rise of the automobile (Henry Ford)
  • Creation of:
    • Drive-ins
    • Fast food culture
  • 1940s → Birth of McDonald's

• What is a Subsidized F&B?

  • Food and drinks are partially paid by the company or the organization 
    
  • Prices are lower than normal 
  • Goal: support people --> not to make profit 
  • It's Cost-Driven

• What is Commercial F&B?

  • Food and drinks are fully paid by the costumers 
    
  • Prices are set to make profit 
  • Goal: generate revenue 
  • Value-Driven 

• 2 Business Analysis Tools

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• How is a business part of a broader ecosystem?

  • A restaurant is part of an environment and depends from it 
    
  • Like any environment, there is an external and internal environment. The external one is the macro environment and the internal environment (hotel and restaurant) refers to the micro environment. 
  • The macro and micro environment are intertwined. 

• What are the 2 business tools that are used to analyze a business environment?

  1. PESTLE
     
  2. SWOT

• 3 Business Marketing Strategy

• What is the Spray and Pray strategy?

  Marketing approach where a company sends the same message to a large audience without targeting, hoping that some people will respond.

• What is the STP strategy?

  • STP = Segmentation, Targeting and Positioning 
    
  • Identifies a firm’s potential customers, selects which customers a firm should pursue, and formulates its value proposition for its target customers.
    

• 3.2 Targeting

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• What are the 4 dimensions that need to be evaluated?

  1. Size and Growth potential
     
  2. Profitability
  3. Competition 
  4. Capability

• 3.3 Positioning

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• What are the 5 touchpoints where an organization can differentiate itself from its competitors?

  1. Product 
     
  2. Service 
  3. Channel
  4. People
  5. Image 

• What does USP stands for?

  Unique Selling Point