How to extract value from the Experience Economy to gain freedom from price wars

The Experience Economy is a concept I came across back in 2003 and has moulded how I look at our industry and helped me formulate a structure in which I started creating F&B concepts. This also became the framework I use to evaluate existing businesses to identify potential areas of improvement. These principles definitely require an update in 2020 to have grounds to stand on and be relevant in today’s environment. The aim of this article is to introduce you to this idea that helped me create F&B businesses which have longevity and competitive advantage. What I also hope to do is unlock what the new framework needs to be in this current market landscape.

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The building blocks of setting up and operating a successful restaurant

This is the third in a four-part series of articles (3 of 4) focused on exploring the building blocks of a restaurant Business Model. These are what I believe form the foundation for setting up and operating a successful restaurant. In this article I discuss Marketing / Distribution Strategy, Adaptation, Phygital Strategy, Neighbourhood Strategy and Location.

Tag: Adaptation

THE EXPERIENCE ECONOMY

How to extract value from the Experience Economy to gain freedom from price wars

RESTAURANT BUSINESS MODEL (3)

The building blocks of setting up and operating a successful restaurant