Ruth's Chris Ann Arbor - Michigan promotion
- Thread starter jlb321
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Ann Arbor, MI (population 120,000) has a Ruth's Chris? Probably why they have to resort to this type of promotion. The lost leader to generate business.
Du....you've clearly never been to Ann Arbor...there's a crap ton of money and nice stuff there. It's a nice college town suburb full of highly paid academics, doctors, and people trying to live close to but not in Detroit. They can easily support a Ruth's Chris
This. Went there for two weeks of training for work. Town was very beautiful, and the bars are pretty much enclosed around the campus.
I've been to Ann Arbor and have stood in the middle of the field on the 50-yard line of the Big House, and incidentally wasn't impressed with that stadium. Sunken stadiums just aren't impressive. No impressive facade, no immense height. Boring.
Say what you will about Ann Arbor, but businesses that are doing well generally don't implement the lost leader.
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"Sam, put out the menus with the higher prices on them, we're going to be busy this week."
At 50% off its almost at reality. I love steak. I raise steak. But I can not see how some places charge for their steaks. Best food on this planet, ney the universe. But even so.e local high profile places that I will not name, I have been embarrassed to take friends to. Good local high quality Grocery store have just as good if not far superior quality.
High end steak houses dry age their steaks...it's an expensive and wasteful process and accounts for why some steak is so pricy
They're certainly not at 1/2 price. Their margins obviously aren't nearly as high, so they're not making as much per meal. I wonder how they do the rest of the week.
Ive been there too. Sorry, but it just does not compare to Lincoln and Memorial.
Standing on the 50, how could you see the facade? Face it, the stadium is old and still functions better and more economically than the tinker toy monstrosities they build today.
Comment, have been to a few games in Lincoln, about the friendliest fans I've visited with. Ne is loaded w class so don't take my stadium comments personally.
A2 is rated one of the best college towns in America. It's clean, profitable and the crime rate is well under control. One of ten best towns to raise a family in the country by one magazine. Profitable business? Have a pocket full of money if you try to buy any bus in A2.
ESPN says the place grosses 100,000 to 175,000 per week. Sounds like a fairly successful bus to me. 10 yrs ago, a McDonalds rest was valued (ave) @ 1,000,000.
Do you think I was helicoptered in? I had to walk to get to the 50. There's a good chance I walked around the stadium. I like the fact that it's a bowl stadium. It's a cool stadium from the inside. I just don't think it's nearly as impressive from the outside.
They are using the lost leader to generate business and to increase repeat business. Generally that doesn't happen with businesses that are doing well. Do you know if this is the first year they have done this promotion?
I'm not sure you understand the concept of "loss leader." A loss leader strategy is pricing an inexpensive item at a loss in order to stimulate sales of more expensive/profitable items. For example, if Ruth Chris decided to go half price on apps the hope would be that customers would come in, order apps and also order a full price entree.
What they are doing is "yield management." They are trying to stimulate sales on slower days (when they have open tables) hoping that volume makes up for and surpasses the decrease in margin per customer. Ruth Chris AA has a location problem. It is a block or two away from another steak house that is more established (within the community, not nationally), has the same level of quality, similar price point and despite being just a couple blocks away has a better location...The Chop House is literally on "Main Street" while Ruth Chris is on a side street. During the weekends both hit capacity but during the week Chop House is the local choice over Ruth Chris. Thus, what RC is doing is no different than what say an airline does when it has empty seats to fill when it drops prices on certain flights to get people who might not have chosen to fly to fly...in this case RC is trying to get more people to eat out on weekdays as the promotion does not include weekends.
I fully understand the concept. It's used in pharmacies all the time with BC pills, cold meds, etc.. And the product doesn't have to be priced at a loss. I knew they had to have lagging sales to decide to implement this.
I've seen it spelled both lost and loss, so I'm not sure which is correct, or if both are correct.
It's loss leader and if you knew what it meant you would know that what they are doing is not that...again it is yield management which is a pricing strategy used to maximize revenue by selling off inventory that has a definite expiration date...in this case they did it in a creative way by tying it to a promotion that appeals to the local market. It does not necessarily have to be because of lagging sales overall.
Also...if a pharmacy drops the price on cold meds with the goal of getting someone in the store to also buy higher priced/margin items...for example, a pharmacy knows that a customer will come in to buy the cold meds at the reduced price (say slashing it during cold season when their is high demand) but will also buy razor blades, groceries, toys for the kids, perfume, etc at full price (once there might as well take care of other needs)...then yes that is loss leadership...it is using a product /brand to get people into a retail location so they can profit from other purchases (I.e during a single visit)....slashing prices on most or all of your products is not loss leadership
Been here a long time, seen a lot of stupid arguments, this has potential to be in the top 10 of stupid arguments, top 5 if we get some name calling going.
Honestly, if it's called yield management, fantastic. I do know what a loss/lost leader is, but the next time I'm discussing a Ruth's Chris and their difficulty with generating business, I'll make sure to use the term 'yield management,' and try to say it with a straight face.
A lost leader would be someone like yourself if you were ever to be put into a position of leadership. "Lost" leader is not a business/marketing term.
This has turned into one of the best threads I have ever read.
I wish that Ruth's Chris had a message bored because I would link this thread to that board so that more people could get in on this.
I see you're still pissed that I had to instruct you on what a masochist is. I would be pissed too if I whiffed on an easy one like that.
BTW, I did enjoy the joke. Well crafted. I don't have an MBA like every other sheep on the face of the earth. But Biology and Chemistry are very cool.
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Thank you. Your sentence is a good example of the use of 'masochist' in a context that ellobo doesn't understand. Ya see, he is under the impression that masochist only has sexual connotations.
At least you've learned a lesson. It's time you'll never get back.
That's true, but I feel grateful that I've learned a new term that I can throw around when I attend networking events. Yeah...uh...networking events. Ugh..
I know he's an irritating twit, but I'm not without fault. I should have left Ruth's Chris alone. They make a tasty slab of flesh.
He's not here to discuss anything with you. He's terrified of being wrong about anything. So, he has to argue about inane bullshit just to get one up on you.
Yeah, I've noticed that. He definitely hates being wrong, and holds a grudge.
I know...It appears that I hate being wrong too, but I'm wrong all the time, and I'm aware of it. I know I was wrong on saying the field goal against Iowa on the 4th down last year was essentially the only choice, but I couldn't let these guys know it.
I happen to believe that kicking the field goal was the correct route to go, but it doesn't mean it was the only choice. And I know Tuco and I have had our differences, but I agree with him a lot of the time and don't hold a grudge against anyone on the board. Hell, I can't remember who I've had disagreements with half the time.
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What's ironic is that the arrogant institution that spawned the arrogant, oblivious cu*t that keeps coming back to our board for more abuse...is the very same institution that welcomed us into the B1G, only to stab us in the back shortly after we joined. And the reason? Said arrogant institution was one of those that chose to not recognize the University of Nebraska Medical Center's research dollars as part of the University system's total research dollars. This resulted in both Michigan and Wisconsin voting for Nebraska to not remain a member of the AAU.
So...you can take your institution's sheepskin, and shove it up your ass sideways, K? I doubt our mods will give you much latitude at all on your comments about Nebraska losing our AAU status, when your school was one of the schools responsible for us losing it.
Why do I call you oblivious? Because you are obviously too dense to realize that you could (and should) very quickly go bye-bye for making a comment on the loss of our AAU status, when your alma mater was so instrumental in having us removed.
Who's the idiot now? Use your GD head and think before you put your hands on the keyboard, you f'ing moron.
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