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Which factor is more important?

While establishing a new business or thinking of revamping an old one, it is essential to run through a list of factors that can be used as strengths for the business.

Although each of these factors will be instrumental in determining the success of the business, some factors are over-rated while some are not paid much attention.

For example: To me, the factors of reliability and stability far outweigh the factors of product and price.

A classic example is the McDonalds burger, while the product is not culinary genius (though the price is competitive), what makes me go back is the familiarity of the food I get there. I do not have to rack my mind over a lengthy ever changing menu, and I know that the food will have a consistent flavour profile, despite changes in the kitchen – perfect for a fast food joint.

Of the top of my mind, I can think of the following factors that should be considered for a fast food joint, which of these will you give more importance over the others and why? ( Do include factors that I may have missed out)

1. Product

2. Price

3. Quality

4. Selection

5. Service

6. Reliability

7. Stability

8. Location

9. Appearance

10. Expertise

11. Advertising

12. Image

4 thoughts on “Which factor is more important?

  1. Of the list I rank quality the first and Service the second. If quality is good and service bad then I wouldn’t prefer to dine and vice versa. Diners don’t expect red-carpet welcome but they do expect a warm welcome with simple smile. I’ll narrate in simple words about my visit to Nando’s here in KL.
    Its a small restaurant located in bottom floor in the mall. But has got very simple and highly creative ambiance. Very sensible interior decoration with simple colors. In the corner which is roughly 6*6ft place there is a small setup for children to play. Harldy 2 children can play but even its a special attraction in the set.
    Next I’ve seen girl infront of me with cute smile holding very very creative menu. Eventhough prices are heavy but I ran through the menu checking out the artistic design across appreciating designers creativity.
    After placing order I started enjoying soft fragrance spreading around. Plants placed at the corners with lights adding extra beauty to them. Lighting too has got its part to play to make surroundings little bit relaxing. Not too dim but little bit….. light soothing [preferably soft instrumental or light music but never hip hop or hard music] music around.
    Of all I liked concept of arranging toy and games in small space and its an attraction to parents and children as well. Who won’t enjoy children playing while dining.
    Yes smart advertising will definitely play an important role: Near paddi house there is a restaurant name “The Walk”. I liked the liner on their ad board. “Why drive when you have The Walk” …Thats really smart
    Location: I feel the best will be near to Middle class locality with offices and colleges around. Not only families but even college goers are equally important. When I used to bunk college, first thought is to escape for a movie. If boring movie is screening then we used to prefer to rush to a restaurant.
    Human Brain has an interesting behaviour from diners perspective.If the food is really good, right brain enjoys food and left brain [logical side] slows down putting price tags aside. If prices are high then vice-versa 😉
    This is how I felt when I had been and expect even the best when I go around.

    1. Harish, when you say Quality it appears that you are refering to the quality of experience (than quality of just one aspect like – food) that you rank highest – This would include aspects of ambiance, hospitality and sheer planning on the restaurants part. I have been to Nando’s and yes it is a great place to eat, even in the mid of a crowded mall they have managed to create a near-restaurant like space with restaurant quality food. Also “The Walk” was a marketing stunt encouraging people to ‘park and eat’ .. since these people also had friday yard sales and pool tables a driveway would not generate as much revenue.
      Location is always key in setting up a business and of course nobody buys unless they perceive it as value for money.

      Cheers!!

  2. The factors that matter to me are:
    1. Product
    The basic thing is what we want to eat afterall.
    Mostly pepole tend to eat what they like the most and ocassionally try to experiment with new ones.
    The food joint should promote any new items properly if they want people to try those.
    2. Quality
    If the quality is not good then what we had spent i.e., both our time and money will be wasted.
    3. Price
    I would prefer eating pav bhaji at gokul chat rather than at Taj since i get the same at a much cheaper price without any comprimise on the taste.

    If the food joint provides quality products then there will be no need for it to spend much on the Advertising since the word of mouth will be enough to draw crowds.

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