Question

In restaurant industry, describe how social media strategy can and should be used to drive revenue and what part it plays in overall revenue management strategy. Please give me the industry examples.

Answer 1

The role of social media in retaurant industry is very impressive and helpful. It is used to let people know about the restaurant and to reach people. With the development of various social sites all the restaurants are starting online business and getting associated with some social media sites. These sites will display pages for these restaurants where people can visit, have a look and even order. This helps in development of business and hence more profits. This also helps in taking the business beyond limits. When we want cost reduction we can opt for this because htere will be no need for more investment for buildings and interiors. For example we have many online restaurants like Dominos ,KFC etc., worldwide who take up orders and delivery to out home. This is a very profitable business and also helps in revenue management.