METHODS FOR RESTAURANT ENTERPRISE COMPETITIVENESS ASSESSING

Objective.The objective of the article is to review the methods for assessing the competitiveness of a restaurant enterprise, analyze the methods for assessing the competitiveness of a restaurant enterprise, determine the advantages and disadvantages of the methods for assessing the competitiveness of a restaurant enterprise. Methods. Тo determine the advantages and disadvantages of the methods for assessing the competitiveness of a restaurant enterprise, the following scientific methods are applied: analysis and synthesis (for analyzing and evaluating the advantages and disadvantages of the methods for assessing the competitiveness of a restaurant enterprise), the abstract-logical method (for forming conclusions). Results. The article considers various methods for assessing the competitiveness of a restaurant enterprise, analyzes and determines the advantages and disadvantages of each method for assessing the competitiveness of a restaurant enterprise. It has been established that for the restaurant sector, the most effective are a comparative analysis of competitors, a consumer satisfaction assessment, and the Boston Consulting Group matrix, as they allow for a comprehensive assessment of the company's activities and an understanding of what changes need to be made to improve competitiveness in the market. SWOT analysis is effective for identifying a restaurant's strengths and weaknesses, opportunities and threats in the market. However, this method does not take into account rapid changes in the market and can be biased, as it depends on the analyst's interpretation. Competitor analysis is a method that allows to evaluate competitors' strategies, their menus, marketing strategies and target audience. However, it also has disadvantages, such as the possible use of incomplete or outdated data and an emphasis on the external environment without sufficient analysis of your own enterprise. Customer satisfaction assessment through a survey allows to determine the level of satisfaction with the service and the quality of dishes. However, consumer feedback is often subjective and can be limited due to people's reluctance to participate in surveys. Comparative analysis allows to evaluate indicators such as the average check, the number and quality of reviews in social networks, the number of visitors. However, this method also has its limitations, since restaurant enterprises can differ greatly in concept and target audience, which makes comparison difficult. Graphical and matrix methods are easy to use, but can simplify the situation by not taking into account all important factors, in particular the dynamics of changes in the market. The Boston Consulting Group method is useful for assessing market competition or restaurant competitors because it allows you to effectively analyze different business units or products (e.g., different dishes or restaurant concepts) using two important criteria: market share and market growth rate. This allows you to develop strategies to improve the restaurant's competitiveness.

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Publication Details

Journal
TRADE AND MARKET OF UKRAINE
Published
2024-12-30
DOI
https://doi.org/10.33274/2079-4762-2024-56-2-67-79
Citations
1
Primary Topic
Corporate Identity and Reputation
Type
article
Field-Weighted Citation Impact
0.55
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article

METHODS FOR RESTAURANT ENTERPRISE COMPETITIVENESS ASSESSING

O. Yu. Filippova
1 citations
TRADE AND MARKET OF UKRAINE
Corporate Identity and Reputation
0.55
article

METHODS FOR RESTAURANT ENTERPRISE COMPETITIVENESS ASSESSING

O. Yu. Filippova
article en
1 citations

Abstract

Objective.The objective of the article is to review the methods for assessing the competitiveness of a restaurant enterprise, analyze the methods for assessing the competitiveness of a restaurant enterprise, determine the advantages and disadvantages of the methods for assessing the competitiveness of a restaurant enterprise. Methods. Тo determine the advantages and disadvantages of the methods for assessing the competitiveness of a restaurant enterprise, the following scientific methods are applied: analysis and synthesis (for analyzing and evaluating the advantages and disadvantages of the methods for assessing the competitiveness of a restaurant enterprise), the abstract-logical method (for forming conclusions). Results. The article considers various methods for assessing the competitiveness of a restaurant enterprise, analyzes and determines the advantages and disadvantages of each method for assessing the competitiveness of a restaurant enterprise. It has been established that for the restaurant sector, the most effective are a comparative analysis of competitors, a consumer satisfaction assessment, and the Boston Consulting Group matrix, as they allow for a comprehensive assessment of the company's activities and an understanding of what changes need to be made to improve competitiveness in the market. SWOT analysis is effective for identifying a restaurant's strengths and weaknesses, opportunities and threats in the market. However, this method does not take into account rapid changes in the market and can be biased, as it depends on the analyst's interpretation. Competitor analysis is a method that allows to evaluate competitors' strategies, their menus, marketing strategies and target audience. However, it also has disadvantages, such as the possible use of incomplete or outdated data and an emphasis on the external environment without sufficient analysis of your own enterprise. Customer satisfaction assessment through a survey allows to determine the level of satisfaction with the service and the quality of dishes. However, consumer feedback is often subjective and can be limited due to people's reluctance to participate in surveys. Comparative analysis allows to evaluate indicators such as the average check, the number and quality of reviews in social networks, the number of visitors. However, this method also has its limitations, since restaurant enterprises can differ greatly in concept and target audience, which makes comparison difficult. Graphical and matrix methods are easy to use, but can simplify the situation by not taking into account all important factors, in particular the dynamics of changes in the market. The Boston Consulting Group method is useful for assessing market competition or restaurant competitors because it allows you to effectively analyze different business units or products (e.g., different dishes or restaurant concepts) using two important criteria: market share and market growth rate. This allows you to develop strategies to improve the restaurant's competitiveness.

TRADE AND MARKET OF UKRAINE(56 (2) 2024)
Donetsk National University of Economics and Trade named after Mykhailo Tugan-Baranovsky (UA)
Openalex Percentile: Top 18%
Corporate Identity and Reputation
0.55
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