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The Risks and Rewards of Surge Pricing in the Fast Food Industry
Key Takeaways: Surge Pricing Debate - Surge pricing may work for some industries based on demand, but applying it to steady products like fast-food may not always be justified. Customer Retention - A significant risk of surge pricing is the potential loss of customers who may not see the added value in varying prices for the same product. Operational Excellence - A strong operational process can often negate the need for surge pricing by streamlining service delivery and maintaining consistent quality. Market Differentiation - For surge pricing to be accepted by customers, there needs to be a…
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