The innovation competitive strategy Business statistic

A Case study of to pioneering companies

1. Presented by : CASE STUDY : Taimoor Ahmad The Innovative competitive Advantage : Awais Bhatti A Case Study of Two Ploneering Companies Mirza Hassan Hafiz Hammad Ali Presented To : Haseeb Ahmad COURSE : STATISTICS BUSINESS MANAGMENT

2. Introduction This case study is about two restaurants that tried new and different ways to attract customers. One restaurant let customers decide how much they wanted to pay for their food, while the other used advanced technology to make ordering food faster and easier. The study looks at why these ideas worked and what other restaurants can learn from them.

3. . Discussion Questions Little Bay Restaurant

4. Why did the reactions of the three diners differ when they found out about the promotion? T he reactions of the three diners differed due to their individual comfort levels with uncertainty and risk. To manage these differences, the restaurant could offer more information about the promotion beforehand, provide guidance on how to determine the value of the meal, and offer a traditional menu as an alternative.

5. What are the advantages and disadvantages to an innovative pricing strategy such as the pay what you want (PWYW) model? Advantages of the PWYW model include attracting price-sensitive customers, generating positive publicity, fostering customer engagement, and potentially increasing revenue. Disadvantages include uncertainty in revenue, potential exploitation by customers, and difficulty in sustaining profitability.

6. This pricing strategy was a month long promotion. Would it be a successful long-term strategy? While successful as a short-term promotion, the PWYW model might not be sustainable long-term due to its unpredictability in revenue and potential exploitation by customers .

7. How would this price promotion affect the employees, especially the wait staff? The price promotion could affect wait staff by potentially reducing their income from tips if customers choose not to pay or pay less than customary tipping norms. Employees might feel differently about the policy based on local tipping customs, potentially impacting their motivation and job satisfaction.

8. What are some other ways of creating innovative pricing strategies? Other innovative pricing strategies could include dynamic pricing based on demand, subscription models, loyalty programs, bundle pricing, and value-based pricing .

9. Eatsa

10. Will this kind of service operation work in other locations? Does it require a degree of technology comfort which might not exist everywhere? The success of Eatsa’s service operation in other locations depends on factors such as technology adoption rates, consumer preferences, and local market conditions. It may require a degree of technology comfort that might not exist everywhere.

11. Will this kind of service operation work with other models and market segments? The service operation could potentially work with various market segments, but adaptation would be necessary. It could be applied to fast food, casual dining, and even fine dining establishments with appropriate modifications.

12. What are the advantages and disadvantages of eliminating the human component of the service environment and replacing them with technological alternatives? Advantages of eliminating the human component include cost savings, increased efficiency, and consistency in service delivery. Disadvantages include potential customer dissatisfaction, loss of personal touch, and technical issues.

13. What other cost-effective technological advancements could you apply to restaurants in order to increase efficiency? Other cost-effective technological advancements for restaurants could include self-ordering kiosks, automated inventory management systems, mobile payment solutions, and kitchen automation.

14. Questions for both Little Bay and Eatsa

15. What impact would a no price promotion or technological front of house have on brand reputation? A no price promotion or technological front of house could positively impact brand reputation by signaling innovation, customer-centricity, and adaptability. However, it could also risk devaluing the brand if not executed effectively or perceived as gimmicky .

16. How would these innovations make different consumers feel about the experience both internally and socially? These innovations may elicit mixed feelings among consumers, impacting loyalty based on individual preferences for human interaction and perceived value.

17. Would the price promotion or service innovation work on a larger scale for a bigger brand across the organization? The success of these innovations on a larger scale depends on scalability, adaptability to different markets, and consistent delivery of value.

18. Would these innovations be successful in every market? Why or why not? These innovations may not be successful in every market due to cultural differences, technological infrastructure, and consumer preferences.

19. How do these innovations create value? These innovations create value by providing unique experiences, addressing customer needs, and optimizing operational efficiency.

20. Imagine you are opening a restaurant. What kinds of strategies could you generate and adopt for a competitive advantage in the future? Strategies for a competitive advantage in the future could include incorporating sustainability practices, leveraging data analytics for personalized experiences, and integrating seamless technology for convenience.