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- The introduction of new technology could change the way restaurants are managed.
- Yes, you all are indeed correct.
- So, we would need maintain good relationships with both the baby-boomers and generation X and Y, therefore we will need to stay up-to-date with our menu.
- Yes, because the restaurant next door employs drivers and a few customers have called to inquire if we offer delivery.
- This include monitoring competition from other restaurants as well as businesses that provide similar services and products .
- We may also need to keep track of the number of consumers that visit the competitor's restaurant.
- So, the economy can have a negative impact on a restaurant's revenue. If people are unwilling to spend money on dining out when the economy is not doing well.
- It is crucial to promote the business through marketing in order to attract and maintain clients.
- Therefore, we would be incorporating Porter's Five Forces model, to better understand the strain of this competition: supplier power, buyer power, the threat of substitutes, the danger of new entrants, and rivalry among current rivals.
- Yes
- Okay
- I agree
- Okay! So, what you need us to do.
- Yeah it’s a great idea
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