Introduction

London Marketing Research Company Ltd (LMRCL) is the company that operates Stratford, London Borough of Newham in East London. Commission Restauranteur (a France based Restaurant) has awarded London Marketing Research Company Ltd by a contract. As a result, London Marketing Research Company Ltd (LMRCL) helps Commission Restauranteur to be efficient at the British market. The market in London is favourable for the operating of Commission Restauranteur as Englishmen prefer going to restaurants rather than cooking. The opportunities of Commission Restauranteur include implementation of new products and services, finding customers and collaboration with other British restaurants. However, Commission Restauranteur can face with a high completion as there are a lot of cafes and restaurants of fast food, national and international cuisine there. As a result, Commission Restauranteur should take into consideration customers' preferences and tastes. Moreover, this restaurant should risk being successful and efficient. The situation with Commission Restauranteur demands collecting primary and secondary data, conducting of the questionnaire to determine further perspectives of the restaurant.

Task 1

1.1. Create a plan for the collection of primary and secondary data for a given business problem

Commission Restauranteur is a France based restaurant that wants to operate in Stratford, London Borough of Newham in East London. It means that this company wants to reach the British target market through the introduction of the French cuisine. They have chosen London Marketing Research Company Ltd as it is more competent about the ways of the integration into the UK market. As a result, they collect primary and secondary data to define whether Commission Restauranteur can be competitive at the UK market. They use both qualitative and quantitative data that will be helpful for determining success and efficiency. Questionnaire and surveys of customers are chosen as the best ones. London Marketing Research Company Ltd uses the experience of other restaurants and their ways of the introduction at the new markets. Moreover, one recommends using interviews, customer feedbacks and observations for collecting primary data. The methods will be helpful for analysis of the target market and perspectives in the UK. Secondary data include already existed information about Commission Restauranteur, its customers and products. The aim of the research conducted by London Marketing Research Company Ltd is to understand the perspectives for the development of the restaurant through the questionnaire of the potential customers.

1.2. Present the survey methodology and sampling frame used

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To analyze the commercial opportunities and target market for Commission Restauranteur one should use the survey methodology and sampling frame as they will be helpful for collecting the necessary information and decision making process. Survey methodology is a way for collecting data from the specific directions. Taking into consideration this scenario, one should get data concerning likings and disliking and product value. The survey questions will be short and laconic demanding the straightforward answers from customers about the French Commission Restauranteur.

One also recommends using probability sampling as a way of prediction of future perspectives of the company and making decisions. Probability sampling consists of simple random sampling method, systematic sampling method, cluster sampling and stratified sampling method. Non-probability sampling consists of snowball sample method, quota sampling and judgmental sample method. For this scenario it will be more efficient to apply close ended and open ended questions. Moreover, non-probability sampling technique will help to define the commercial opportunities of the French Commission Restauranteur in the British market.

1.3 Design a questionnaire for a given business problem

This research demands analysis of primary and secondary data for making a right decision. One can collect primary data from the current customers of French Commission Restauranteur and people who are clients of other restaurants. For the sampling frame one will use the customer list. However, it is crucial to provide a complete security of the received information from the customers. There are some people that want to remain anonymous participating in this research; therefore it will be unethical to violate their privacy. The questionnaire will be sent to the customers via their postal address and email address. It might be difficult to reach all customers, but London Marketing Research Company Ltd will appoint an appropriate sample for this reason. It is crucial to post the questionnaire only to those who are lovers of restaurants and French cuisine. One can also send few copies of the questionnaire, and the customer can recommend it to his/her friends. London Marketing Research Company Ltd uses the random sampling technique to select customers for the research.

French Commission Restauranteur Awareness and Customer Satisfaction Evaluation

Dear Customer,

We, French Commission Restauranteur, are always ready to invite you in our restaurant and introduce you the most delicious dishes. We operate in the French market, but we want reach the British customers that are known as gourmets. We will appreciate if you help us to evaluate your level of desire to visit our restaurant; therefore, we would like you to fill this questionnaire. Many thanks in advance for your openness and cooperation. We appreciate your participation, commitment and opinion about our restaurant.

Best Regards,

Managers of French Commission Restauranteur

Name:..............................

Address:...............................

Age:................................

Gender:..............................

1. Would you like to visit French Commission Restauranteur? (Yes, No)

2. If your answer is No, please explain:.....................

3. Are you aware of a French cuisine?

4. Please range the below from 1 5 (Unsatisfied - 1, Good - 2, Very Good - 3, Satisfied - 4, Exceed expectation - 5)

Overall quality of the product

Overall satisfaction with the product

Service in French Commission Restauranteur

The quality of catering

Comparison with other restaurants

5. Are the prices in the restaurant reasonable?

6. If your answer is no, please explain why?...........................................

7. Can you recommend French Commission Restauranteur to other people?

Task 2

2.1 Create information for decision making by summarising data using representative values

The conducted questionnaire has showed the following results:

Total Response is 300.

A preference of new restaurant according to the gender: male 130, female 170.

Happy to visit French Commission Restauranteur: Yes (290) No (10).

Awareness of a new restaurant: Yes (250) No (50).

Overall quality of the menu: 1-(5) 2-(25) 3-(45) 4-(200) 5-(25).

Service in French Commission Restauranteur: 1-(0) 2-(50) 3-(100) 4-(100) 5-(50).

The quality of catering: 1-(10) 2-(40) 3-(100) 4-(100) 5-(50).

Comparison with other restaurants: 1-(0) 2-(20) 3-(140) 4-(110) 5-(30).

Price is reasonable: Yes (235) No (65).

Restaurant recommendations: Yes (280) No (20).

2.2. Analyse the results to draw valid conclusions in a business context

Total Response is 300.

A preference of new restaurant according to the gender: male 130, female 170.

Male 43.3%, female 65.7%.

Happy to visit French Commission Restauranteur: Yes (290) No (10).

Yes 97%, No 3%.

Awareness of a new restaurant: Yes (250) No (50).

Yes 83.3%, No 16.4%.

Overall quality of the menu: 1-(5) 2% 2-(25) 8.3% 3-(45) 15% 4-(200) 67% 5-(25) 8.3%.

Service in French Commission Restauranteur: 1-(0) 0% 2-(50) 16.7% 3-(100) 33.3% 4-(100) 33.3% 5-(50) 16.7%.

The quality of catering: 1-(10) 3.3% 2-(40) 13.3% 3-(100) 33.3% 4-(100) 33.3% 5-(50) 16.7%.

Comparison with other restaurants: 1-(0) 0% 2-(20) 6.7% 3-(140) 46.7% 4-(110) 36.7% 5-(30) 10%.

Price is reasonable: Yes (235) 78.3% No (65) 21.7%.

Restaurant recommendations: Yes (280) 93.3% No (20) 6.7%.

The customer base consists of 43.3% of male and 65.7% of female. As a result, French Commission Restauranteur should provoke interests of males. 97% of people are happy to deal with the restaurant. 83.3% of customers are aware of a new restaurant. 95% of customers are satisfied with the menu quality. 100% of respondents are happy about the services in French Commission Restauranteur. The results of this questionnaire prove that French Commission Restauranteur provokes interest and attracts customers.

2.3 Analyse data using measures of dispersions to inform a given business scenario

To measure dispersion of the analyzed data one can use the range method. Range dispersion presupposes setting data from the lowest value to the highest one from 1 to 5 (1-Unsatisfied, 2-Good, 3-Very Good, 4-Satisfied, 5-Exceed expectation).

Overall quality of the menu

5 2%

25 - 8.3%

45 15%

200 67%

25 8.3%

Service in French Commission Restauranteur

0 0%

50 16.7%

100 33.3%

100 33.3%

50 16.7%

The quality of catering

10 3.3%

40 13.3%

100 33.3%

100 33.3%

50 16.7%

Comparison with other restaurants

0 0%

20 6.7%

140 46.7%

110 36.7%

30 10%.

2.4 Explain how quartiles, percentiles, and the correlation coefficient are used to draw useful conclusions in a business context

Quartile is a method that separates data in two quarters. Percentiles are used to show whether the data are similar or larger than percentile figure. Moreover, both quartiles and percentiles are used for comparison of data. The correlation coefficient is used to interpret the relationship between two variables. The use of percentiles and quartiles is a major tool of data analysis used for the research of French Commission Restauranteur. The advantages of using the percentiles and quartiles include the fact that the two methods of data analysis are easy to implement and understand and, secondly, they provide a snap view of data findings.

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1

2

3

4

5

Overall quality of the menu

5

25

45

200

25

Service in French Commission Restauranteur

50

100

100

50

The quality of catering

10

40

100

100

50

Comparison with other restaurants

0

20

140

110

30

Task 3

3.1 Produce graphs using spreadsheets and draw valid conclusions based on the information derived

A market research may yield good and credible findings and even lead to credibly evidence-backed research decision, but when it comes to the making of the management decision, the presentation of information and the findings become more important. It is at this level that the researcher moves to convince the management about the appropriateness of the application of research findings in the organization and in case of miscommunication or misrepresentation of the information, the management may come up with the wrong management decision often leading to great financial impact of the business entity. That is why the rule of the thumb in information presentation demands that the presentation ought to be kept short, simple, and straightforward. The chart 1 demonstrates the levels of quality of the product and service satisfaction.

Chart 1

Based on the data analysis and the findings, this market research found that majority of the consumers would gladly welcome a new French restaurant. Despite deviating slightly from its core competencies, the customers strongly believe that French Commission Restauranteur has the capacity to integrate into the UK market.

3.2 Create trend lines in spreadsheet graphs to assist in forecasting for specified business information

Graph 2. Quartile Forecast

As we can see, the customers are satisfied about the quality of the products and services of French Commission Restauranteur. However, this restaurant should not stand still and should improve product satisfaction through the introducing of new products, increasing of quality and offering a flexibly system of reductions. The key idea in this recommendation is that French Commission Restauranteur must put into consideration the fact that its aim is to win sustainable competitive advantage. To do that, the restaurant has to appeal to the customer needs and emotional connection with their anytime cup of coffee as per the current market trends. However, the management must also consider the supply market and the costs required for its production.

3.3 Prepare a business presentation using suitable software and techniques to disseminate information effectively

The management decision ends not with the overwhelming positive consumer attitude to French Commission Restauranteur, but with the ability to decide on the product strategy that would be most appealing to the consumers. This decision takes the studying of consumer behavior with regard to the visiting of the restaurant. To fulfill this, the market research addressed the question about preferences by asking the consumers. One recommends using Business Intelligence and Management Scorecard as the suitable software and techniques for disseminating information effectively. The results of the questionnaire should be used for producing a forma business report.

3.4 Produce a formal business report

Subject: The level of customer satisfaction and French Commission Restauranteur awareness survey

To: The Management Team

From: The Market Research Management Team

Date: 4th January 2015

This report is devoted to the satisfaction and awareness survey about the services and products of French Commission Restauranteur. To verify the necessity of a new restaurant, the management team has conducted a questionnaire survey to receive the required data. We have got 300 feedback forms from customers. It has been proved that females use the products of French Commission Restauranteur greater than males. In general, the customers are satisfied with our services. 250 customers out of 300 were aware about French Commission Restauranteur and its new product. 97% of customers are happy to deal with French Commission Restauranteur and satisfied with the product prices. It means that the company has a good reputation and brand image. As a result, French Commission Restauranteur has promotion via 97% of satisfied customers.

Task 4 4.1 Use appropriate information processing tools

There are various approaches to the business analysis and the analysis of financial viability. The most common tools include the use of the net present value and the payback period methods. The net present value discounts the projects periodic cash flows by subtracting the discounted outflows from the discounted cash inflows and the project should only be undertaken if the NPV gives a positive value. The NPV is the most preferable method of project analysis in that it considers all cash flows from the project.

Where time is of more importance, the management can assess the financial feasibility of the project by using the payback period method. The payback period method measures the amount of time that elapses before the business can recoup the capital invested from the projects cash inflows. Depending on the economic stability, the management can either use the discounted or non-discounted payback period where the discounted PBP considers the time value of money and the non-discounted PBP uses the raw cash flows figures (Saris & Gallhofer 2007).

4.2 Prepare a project plan for an activity and determine the critical path

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The project requires the allocation of resources to the purchase of all plant and equipment required for the production of French Commission Restauranteur. The projected cost of the equipment should be based on the current market price of the equipment considering the size of the equipment required, which again depends on the planned output. Where the company may require using existing plant and equipment in the development of the new product, the company can use the current value of such resources as part of its initial cost (Chromy, Abeysasekara 2003).

The resource allocation process may run parallel to the product development and design process. The product development resource allocation will depend on the firms desired packaging design and product quality considering also the customer needs. After the product is successfully designed, samples must be produced and provided to customers for tasting and sampling. The process is meant to guarantee that the customer helps the company in ensuring that the product sent to the market is of appealing quality. The comments from the sampling customers must then be taken into consideration and incorporated in the product before the company moves to large-scale production, and process that will run parallel to introductory marketing and price setting for the end product. The marketing department of the company must therefore start designing the appropriate product promotion and distribution mechanisms to ensure that the product is successfully introduced to the market (Al-Zhrani 2010).

4.3 Use financial tools for decision making

Business Intelligence (BI) is a process of an organizations data assets creation. Business organizations should have well-developed Business Intelligence system. Moreover, it is a financial tool for decision making. Controlling their data, companies achieve a competitive advantage that concerns decreasing costs, increasing revenue, and reducing risks. There are many applications that can be used in BI system. However, French Commission Restauranteur should adapt them according to their demands and needs. Business Intelligence system brings a lot of benefits to the organization. It lowers total costs as it gives a full analysis of all organization's data. It empowers employees to make better business decisions as they should not spend much time on collecting, storing, and analyzing data. Business Intelligence system improves organizational effectiveness and quick access to data (Jahangir 2005).

To evaluate this project one should use such financial tools as decision making techniques: NPV (net present value) and IRR (internal rate of return). Using of NPV can shorten or surplus the cash flow. IRR calculation can help to analyze the discount rate as it may be changing from time to time. As a result the IRR depends on the discount rate (Jawadekar 2006).

In conclusion, the market research helped in identifying the consumer attitudes and preferences with regard to the restaurant introduction to the market. The research also helped in identifying the consumer attitude towards French Commission Restauranteur. The results have showed that French Commission Restauranteur has also opportunities to operate in Stratford, London Borough of Newham in East London. This location is attractive for the tourists; therefore, they can become the clients of French Commission Restauranteur. Moreover, the questionnaire helped to understand that British consumers were lovers of French cuisine. London Marketing Research Company Ltd took into consideration all factors crucial for the restaurant; therefore, it can integrate The British market with the minimal risks. Financial tools will help to avoid economic issues. A project plan will determine the mission and objectives as the steps for the further development and growth. The key idea in this recommendation is that French Commission Restauranteur must put into consideration the fact that its aim is to win sustainable competitive advantage, the restaurant has to appeal to the customer needs and emotional connection with their brand.

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