| Value Menu |
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A value menu is a group of items on a Fast Food restaurant menu that are usually priced at two dollars or less. The value menu is unique in that the items are usually priced lower than most of the other items on the menu. The portion size or number of included items with the food are usually but not always related to the price. The consumer ultimately decides what to get based on what the menu offers and consumer preference, and the value menu appeals sometimes to those that desire a quick meal without other products such as beverages and other side items that are included in full meals that necessarily increase the overall price. Wendy's is generally credited with being the first fast food chain to offer a value menu in October 1989, with every item priced at $0.99 The move to adoption of value menus can be considered as a response to the changing preferences of consumers of fast food and a response to other economic factors such as the prices of other goods like gasoline as well as consumer income. Higher gasoline prices can mean that consumers may spend less at the Drive-through than they otherwise would. Value menus may also be an example of Loss Leader s, items sold at low or no profit in order to convince consumers to patronize the restaurant and, in so doing, also buy more profitable items such as soda pop (sold at very little cost to the restaurant). REFERENCES EXTERNAL LINKS |
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