| A | B |
|---|
| Selling price first | Pricing method where the selling price is created first and then the costs are calculated |
| Follow the leader pricing | A pricing method used by creating a selling price that is competitive with the other establishments that market to the same clientele |
| Individual price method | Pricing and purchasing products differently because of their uniqueness as a menu item |
| Differentiated price method | Pricing products, and purchasing products, differently because of their uniqueness |
| Perceived value | A method that allows menu prices to be higher than either the food cost method or the competitive pricing due to the uniqueness of a product or service |
| Actual cost method | The actual cost calculated for preparing a dish |
| Contribution margin method | Sales price calculation where management pre-determines the contribution margin and adds it to the cost of each dish |
| Suggestive selling | A method that employees use to increase check average, profit margin, and customer satisfaction by suggesting other items that he guest might want |
| Pre-shift meeting | A meeting where the staff can get together and discuss the coming day’s events or events of the previous day, larger parties, or special guests |
| Employee empowerment | Principle in which employees feel they need the organization as much as the organization needs them; proven to improve employee work ethics |
| Total Quality Management (TQM) | Philosophy of leadership including employee empowermen |
