Correlation of Popularity Index and Menu Prices of Tgi Fridays

Topics: T.G.I. Friday's, Cuisine of the United States, Restaurant Pages: 6 (1742 words) Published: August 12, 2013
Correlation of Popularity Index and Menu Price in TGI Friday’s

A Thesis Presented to the
Faculty of the College of International Tourism
And Hospitality Management
LYCEUM OF THE PHILIPPINES UNIVERSITY

In partial fulfillment
Of the requirements for the degree of
Bachelor of Science in International Hospitality Management Major in Hotel and Restaurant Administration

By
Cortez, Linbert Paul
Munñoz, Nestor Raymund
Tamayo, Arjay
Valerio, Joan Carla

October, 2013

Chapter 1
The Problem and its background

INTRODUCTION

T.G.I. Friday’s is a casual dining restaurant that has been a well-known chain since 1965. The theme of the restaurant provides a lively environment that keeps an engaging atmosphere where customers feel comfortable going. Friday’s has presented great marketing strategies over the years that have helped them become the restaurant they are today such as the Give Me More Stripes program and World Bartender Championship within the Grand Rapids locations. Although Friday’s is already engaged to different programs to benefit their company, there are many other strategies that will help benefit them. Friday’s needs to be more aware of the opportunities they are given, therefore creating a Customer loyalty will only provide more possibilities for them overall. With all the changes they have been making throughout the company as a whole, Friday’s is heading in the right direction to build their customer loyalty. T.G.I.Friday’s primary objectives as a company for the next five years are to maximize overall profits of the company, customer loyalty, and stock profit margin. The company is always looking to maximize their income as a whole but in order to do so they are going to first build customer loyalty. Having customer loyalty will bring customers “regulars” into the restaurant, which will keep sales increasing. By having customer loyalty that increases sales, the company will begin to maximize the stock profit margin. The stock profit margin will detect how much of the market T.G.I.Fridays is gaining. This is important because it shows T.G.I.Friday’s where they stand, which will make push them to achieve their objective of being the best restaurant with the highest ratings.

Background of the study

T.G.I. Friday’s, one of the first American casual dining chains, offers a unique dining experience that has become the favorite pastime of millions worldwide. To date, there are more than 925 Friday's restaurants located in 60 countries throughout the world. Friday's is also famous for its collection of bric-a-brac, which can tell many an intriguing story. Friday's rare objects come from all over the world, and the restaurants act as custodians of their stories. Friday's success formula is simplicity itself. The guest's wishes are our commands; that's why our restaurants make every visitor feel at home. Friday's personnel are young, energetic, friendly young men and women who have received their professional education at the company's training center. The restaurants maintain at all times a happy, friendly atmosphere beloved by our guests. But the main attraction here is genuine American cuisine. It was Friday's that invented the recipe for loaded potato skins, which has gone on to become not only the restaurant's hit, but also a signature American dish. All drinks at Friday's are mixed according to the most exacting recipes. The dishes startle with the size of servings. When reading the menu, Friday's visitors quite often face the problem of what to choose. The job is indeed far from an easy one. Judge for yourselves: Friday's onion rings, lightly battered and fried up crisp and golden; Sizzlin’ Beef Fajita Tower with vegetables, warm flour tortillas, cheese, sour cream, pico de gallo and guacamole; Cajun Chicken Fingers; and Jack Daniel's Glazed Ribs, are just a few of the most popular dishes. And there are also huge salads, Friday's signature burgers and sandwiches, pastas, juicy steaks...
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