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Alenkinab [10]
3 years ago
15

Andrew owns a popular, but expensive Chinese restaurant. In order to introduce more people to his brand, he offers a series of o

ne-time "taste fairs" in which he brings his recipes to a locally sponsored event. Customers are able to pay modest amounts for small servings of his creations while not paying for the ambiance of the famous restaurant. What need is Andrew addressing?
the restaurant’s lack of customers
customers’ lack of money
customers’ lack of time
the customers’ lack of access
Business
1 answer:
lana66690 [7]3 years ago
3 0

Answer: <em>customers' lack of money </em>

Explanation:

Here, in this particular case we can state that the restaurateur Andrew who owns and run a popular contemporary but expensive Chinese restaurant is addressing the fact that customer's lack money. The fact in this particular case is that consumers are willing to pay a modest amounts for the small amount of food being served while in contrast not paying for the "atmosphere" of his restaurant.

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Performance analysis reviews a number of techniques used by a business in their performance over a period of time. This is done studying and analyzing key performance indicators which are factored into the analysis.

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Revenue: shows how productive the business has been. A simple calculation can be done to show this, revenue given for a period divided by the number of clients in that period.

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Client retention rate: This is based on the percentage of clients a business retains. This is vital for long term sustainability in a business.

Daily attendance: this is based on the average number of clients who visit or attend or frequent the business on a daily basis. This impacts on the profit margin and the client retention rate of the business.

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The use of modeling can promote the BakerStone mission statement as all their effort as well as input will be channeled towards achieving their mission statement.

Hence, The use of  continuous communication, can  promote the BakerStone mission statement because one can Communicate vital information to keep stakeholders always aware of BakerStone policies as well as actions.

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