Question

3) What are 2 of the 4 types of pricing methods used in restaurants?

Answer 1

The pricing methods mostly used in restaurants are:

• Cost plus pricing
• Value pricing

What is a pricing strategy?

This refers to a method used to establish the most suitable price for a product or service.

This strategy allows an organization to choose their prices to maximize profits while considering their consumer and market demand.

Hence, the pricing methods that are mostly used in restaurants are the Cost plus pricing and Value pricing.

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