Monday, November 10, 2014
Rising Beef Prices
Due to increases in international demand for beef and the drought that caused farmers to reduce their herds, the price of beef is rising quickly. Fast food restaurants are faced a challenge. What should they do? Raise prices to customers or try to demarket beef and encourage customers to purchase another item instead. Read the following: Beef or Chicken? Beef prices hit fast-food chains.
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Given that I work retail I think it would be smarter for other retailers and companies to try and promote other meat sources like chicken, pork, fish, or for the season among us why not deer meat.? I for one love to buy a couple T-bones at the grocery store and go home and grill em' up, however, after you buy the steaks, the seasonings, the sides, and the toppings you've spent like $30-$40 but when you compare the value to that of going to a restaurant where you can in some case go out and get a steak dinner with sides for 2 for around the same price, although the steaks may not be T-bones the overall satisfaction to me makes more sense. So if it were me, I would definitely try to promote other meat products until the beef prices get back within reasonable price.
ReplyDeleteBecause of this they will probably but in increase in marketing for chicken productproducts.
ReplyDeleteI would probably open up to a whole other market by focusing more on a health menu that contained other foods, and slightly raise prices on the beef items. Generally the cost of beef should rise everywhere and people will still buy it, because some want what they want even if they would have to pay a little more.
ReplyDeleteI agree with Brandon! I think it would be smarter for other retailers to promote other meats. With pricing, it could go a long way! Saving more for your buck!
ReplyDeleteThe more reason I buy a portion of a cow from a friend who owns a farm. I choose which cuts I want and don't have to buy from grocery store. Brandon is right about the price can be higher after buying the seasonings and cooking at home then ordering a steak in a restaurant.
ReplyDeleteI personally think they should let customers know the reason to as why the price is rising. Then it is the customer's choice to decide if they still want to eat it or not. Atleast it would be an honest thing to do and would inform the guests.
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