Final Project: Price

Price one of the core elements in a business. “It’s all about value and price—what you get for what you pay” (Source: Marketing: An Introduction for Education Management Corporation, page 274) but we want to give our customers more than what they pay for, in nontangible items such as experience and our loyalty to them. In an area like Summerlin, prices are normally a bit more expensive than most other places in the city. Our prices are affordable. Drinks run from $5-$14, appetizers run from $6-$15, entrees run from $10-$30, and desserts run from $6-$12. When running a business you don’t want your prices to be too cheap, or else customers may think your food and services aren’t up to par, and you don’t want prices to be too expensive or else you limit yourself to the type of crowd you attract. At All Around the World, we welcome anyone and everyone. “The marketing concept recognizes that organizations thrive from day to day by determining the current needs and wants of target group customers and fulfilling those needs and wants more effectively and efficiently than competitors do. It focuses on meeting the company’s short-term sales, growth, and profit needs by giving customers what they want now” (Source: Marketing: An Introduction for Education Management Corporation, page 511). By doing research in customer satisfaction and care, we realize that since we are in America, everyone wants things now and in high quality. Our food is prepared in high quality kitchens with high quality products and we still steer away from unreasonable prices.