Chapter 4
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| Composite (potential) food cost percentage | The weighted average food cost percentage for all food items
sold, weighted by the quantity of each item sold
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| Contribution margin (CM) | The amount left over after the food cost of a menu item is sub-
tracted from the menu selling price
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| Contribution margin method (pricing) | Adding the contribution margin (CM) figure to the cost of a
menu item to determine that items price
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| Demand-driven pricing | The theory that an operation can set pricing based on demand
for the product or service
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| Factor method (pricing) | A popular formula used to determine menu prices based on the
standard food cost percentage aka simple markup or food cost
percentage method
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| Food cost percentage method (pricing) | A popular formula used to determine menu prices based on the
standard food cost percentage. This method is also known as
simple markup method or factor method
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| Market-driven pricing | Pricing that is determined by the market, which is usually regional
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| Market price | A menu pricing strategy in which the price of a menu item
changes based on the current market
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| Markup | The difference between the actual cost of production an item
and the price listed on the menu
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| Markup differentiation | Giving different markups to different categories of food, according
to a range of expectations I the market
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| Menu engineering | The process off analyzing the menu product ,is, along with
consideration of an items contribution margin and its popularity
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| Menu matrix | The placement of menu items in different categories based
on their popularity and profitability
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| Menu product mix | A detailed analysis that shows the quantities sold of each menu
item, alongmwith their selling prices and standard portion costs
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| Price-value relationship | The connection between the selling price of an item and its worth
to the customer
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| Prime cost method (pricing) | A method that requires managers to determine the amount
of direct labor spent in preparing an item; this number is added
to the food cost to arrive at the prime cost
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| Q factor | The quotient or cost of all other food items served with an entree
the cost includes side dishes and garnishes as well as all
complimentary items such as condiments seasonings
Coffee creamer sweetener
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| Ratio pricing method | A ratio derived by takinG the sum of all nonfood costs , adding
it to the target profit ,and dividing the resulting number by the cost
of food sold in dollars
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| Value perception | A customers opinion of a products value to him or her
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To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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