Restaurant Management - Unit 2 Review

Flashcards covering key concepts and vocabulary related to restaurant management and customer behavior.

Customer Turnover

The process of a business losing customers and gaining new ones, also known as customer churn or customer attrition.

Repeat Customers

Customers who return to a restaurant multiple times, accounting for 60 to 80 percent of total revenue.

Captive Market

A market where customers have limited choices and often have to purchase from one or two suppliers.

Mass Market

A large social setting focused on fast food and casual dining, appealing to a wide audience.

Status Market

A market segment characterized by high disposable income, where dining is an experience rather than just a meal.

Cross Selling

Encouraging retained customers to buy additional products or services from the same company.

Customer Retention

The ability of a business to keep its customers over time, leading to reduced acquisition costs.

Baby Boomers

Individuals born between 1946 and 1964, known for having high disposable income and spending more when dining out.

Family Buying Behavior

The influence that family members have on individual buying decisions, particularly in dining situations.

Service Quality

A critical factor in customer satisfaction that influences repeat business and loyalty.