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MARKET RESEARCH ANALYSIS



     Troy Lawrence
      Troy’s Buffet
    November 8, 2011
TABLE OF CONTENTS


Graph #1                 Graph#8
Graph #2                 Graph#9
Graph #3                Graph #10
 Graph #4                Purpose
Graph #5                Questions
Graph #6                Conclusion
             Graph #7
PURPOSE


The Purpose of this analysis is find out what people expect from my business and look forward to. I want to provide excellent
    customer care to all my customers. I want them to have the best experience of their life when they come to eat at my
                                           buffet, and be as comfortable as possible.
QUESTIONS


                How often do you go out to eat?
             What type of restaurants do you eat at?
            What do you like most about a restaurant?
                 How do you like your chicken?
                  Do you enjoy eating a Buffet?
Would you consider returning if the food is good but prices are high?
                How much are you willing to pay?
GRAPH #1


                  Age
                        0%

13-14         15-16      17-18    Over 18




        21%
                                 25%




                54%
GRAPH #2

      Gender
      Male   Female




46%


                      54%
GRAPH #3

      Annual House hold income
            0    400   600   700+




                7%

       7%




17%




                                    69%
GRAPH #4



                        A n a l y ze                                                    Graph#4

                         Highest Result
            The highest result would be 2 days at 49%                   How often do you go out to eat?
                          Lowest Result
     The lowest result is a tie with everyday and none at 3%.                       0    1     2     3   Everyday

           What Is the advantage of the highest result?                                      3% 3%
 The advantage of the highest result is to know how many of my
customers eat out, thus I will know how many people may return.               19%
                                                                                                            26%
          What is the disadvantage of the lowest result?
The disadvantage of the lowest result is of course the people that
       don’t go out to eat won’t come to my restaurant.
        How will this information benefit your business?
This information will benefit my business by knowing a percentage
of people that will eat out a lot and know who my customers are.
            And how can you meet customers needs?                                       49%
    I can meet customer needs by trying different things in my
   restaurant to see if it attracts more people at my restaurant.
                      Summarize the graph
This graph just shows the different amount of people that eat out
 or don’t. 19% eat our 3 days a week, 49% for 2 days, 26% for 1
            day, and 3% both for Everyday and none.
GRAPH #5



                                 A n a l y ze
                                                                                                                 Graph #5
                                     Highest Result
          The highest result for the type of restaurants people eat are Buffet’s.
                                                                                             2%
                                     Lowest Result
                                                                                                  What type of restaurants do you
                       The Lowest Result would be Extravagant.
                      What Is the advantage of the highest result?                                            eat at?
The advantage of the highest result is really good because the type of restaurant that I'm
                                  running is a buffet.                                            Buffet   Fast Food   Casual    Extravegant   None
                     What is the disadvantage of the lowest result?
 There really is no disadvantage to the lowest result because the high end came out with
                        Buffet. Which is exactly what I'm running.                                         14%
                   How will this information benefit your business?                                                              29%
This information will benefit my business by knowing that a lot of people like to eat at
                                      buffet’s.
                       And how can you meet customers needs?
I can meet customer needs by giving them the best buffet experience they ever had, by
             providing a variety of different foods at a reasonable price.
                                  Summarize the graph                                                27%
 This graph just shows the different type of restaurants people eat at. There is 28% for
   Fast Food, 27% for Casual, 29% Buffet, 14% for Extravagant, and 2% for None.
                                  What can be offered
  The things that can be offered at my restaurant is a good buffet and plenty of good                                      28%
                           food for the customer to enjoy.
GRAPH #6



                          A n a l y ze                                                     Graph#6
                           Highest Result
                  The highest result would be food.
                            Lowest Result                                   What do you like most about a
                     The lowest result is Scenery.
             What Is the advantage of the highest result?
                                                                                    restaurant?
  The advantage of the highest result would be that If our restaurant        Hospitality     Food    Location   Scenery
   prepares good food people will return and not judge us on our
                              building.
            What is the disadvantage of the lowest result?
                                                                                              5%
 The disadvantage of the lowest result is that people care more about                               13%
our food then how things look around it. So we have to be on top of                    14%
                our food so that customers return.
          How will this information benefit your business?
  This information will benefit my business by using these things so
remember what people come to our buffet for which is to eat and have
   a good time. So we have to make sure that our food is top noch.
              And how can you meet customers needs?
                                                                                                    68%
              We can meet customers needs by making
                        Summarize the graph
      In this graph 68% chose food, 14% for location, 13% for
                     hospitality, 5% for Scenery
                         What can be offered
                    The things that can be offered
GRAPH #7



                                A n a l y ze                                                                Graph #7

                                     Highest Result
                    The highest result for this graph is fried chicken.                      How do you like your chicken?
                                     Lowest Result
                       The lowest result for this graph is broiled.                         Baked   Fried    Stuffed        Broiled     Don't eat chicken
                      What Is the advantage of the highest result?
 The advantage of the highest result is now I know what type of chicken I will need to                                 0%
                            make more of for my buffet.
                                                                                                                  6%
                     What is the disadvantage of the lowest result?
                                                                                                            8%
                                There is no disadvantage.
                                                                                                                                  28%
                   How will this information benefit your business?
 This information will benefit my business by knowing what people expect at my buffet
                                      food wise.
                       And how can you meet customers needs?
  I can meet customer needs by giving them what they want and make customers happy
                                  Summarize the graph
  In this graph there was 58% for chicken, 28% Don’t eat chicken, 8% Stuffed and 6%
                                       Broiled.                                                             58%
                                  What can be offered
We will offer a lot of fried chicken based on our votes and a lower amount of stuffed and
                           broiled because it will not be necessary
GRAPH #8



                              A n a l y ze                                                      Graph#8

                                 Highest Result
                           The highest result is Yes.
                                                                                      Do you enjoy eating at a Buffet?
                                 Lowest Result                                                        Yes   No
                            The lowest result is No.
                 What Is the advantage of the highest result?
    The advantage of the highest result is that a lot of people like to eat at
               buffets, so I know that there is a lot of people
                                                                                                17%
                What is the disadvantage of the lowest result?
The disadvantage of the lowest result is that not everyone would like to eat at
                                  buffets.
               How will this information benefit your business?
This information will benefit my business by letting me know just how much
people enjoy eating at buffet’s and know that food has to be always be out and
                              in the proper place.
                   And how can you meet customers needs?
   I can meet customer needs by providing coupons or deals for returning
                                                                                                             83%
                                customers.
                             Summarize the graph
                        83% said yes, and 17% said no.
GRAPH #9



                                 A n a l y ze                                                           Graph#9

                                    Highest Result
                           The Highest result is 71% for yes.
                                     Lowest Result                                          Would you consider returning if the food is good
                                 The Lowest result No                                                    but prices are high?
                      What Is the advantage of the highest result?                                               Yes   No
The advantage of the highest result is knowing that my customers are willing to pay for
quality food, and not too concerned about the price if their getting what they pay for.
                     What is the disadvantage of the lowest result?                                       29%
The disadvantage of my lowest result is that many people will not return if my prices are
                             high and food is not good.
                   How will this information benefit your business?
This information will benefit my business by letting me know how to set my prices and                                   71%
                                 not go to overboard.
                       And how can you meet customers needs?
    I can meet customer needs by providing excellent prices, food and services..
                                 Summarize the graph
         In this graph there were 71% that voted yes and 29% that voted No.
GRAPH #10



                              A n a l y ze                                                 Graph#10

                                 Highest Result
                          The highest result is $60+.                               How much are you willing to
                                 Lowest Result                                                pay?
                            The lowest result is $20.
                                                                                            1     2    3     4    5     6
                 What Is the advantage of the highest result?
The advantage of the highest result is that people are willing to pay over 60$ if                      0%
                       the food is what they expected.
                                                                                                            10%
                 What is the disadvantage of the lowest result?
 The disadvantage of the lowest result Is that some people are not willing to              30%
      spend a certain amount of money out at restaurant or a buffet.                                                  15%

               How will this information benefit your business?
  This information well benefits my business by helping me price my food.
                   And how can you meet customers needs?
                                                                                                                  20%

I can meet customer needs by providing reasonable prices for people to eat at                    25%
                                my buffet.
                             Summarize the graph
   30% chose $60, 25% chose 5, 20% chose 4, 15% chose 3, 10% chose 2.
                              What can be offered
                  A gift that I can offer is a 10% off coupon.
CUSTOMER PROFILE


          My customer ages range from 15-16
       My customers annual income was 0 a year.
         Gender that voted the most was male.
Out of the week most people eat out 2 days of the week.
CONCLUSION


   This analysis allowed us to find our target market in order to become a
successful restaurant/buffet. The results showed what people look for when
 coming to my buffet. The analysis also showed that people look forward to
      the food that you provide rather than how the restuarant looks.

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Market Research analysis

  • 1. MARKET RESEARCH ANALYSIS Troy Lawrence Troy’s Buffet November 8, 2011
  • 2. TABLE OF CONTENTS Graph #1 Graph#8 Graph #2 Graph#9 Graph #3 Graph #10 Graph #4 Purpose Graph #5 Questions Graph #6 Conclusion Graph #7
  • 3. PURPOSE The Purpose of this analysis is find out what people expect from my business and look forward to. I want to provide excellent customer care to all my customers. I want them to have the best experience of their life when they come to eat at my buffet, and be as comfortable as possible.
  • 4. QUESTIONS How often do you go out to eat? What type of restaurants do you eat at? What do you like most about a restaurant? How do you like your chicken? Do you enjoy eating a Buffet? Would you consider returning if the food is good but prices are high? How much are you willing to pay?
  • 5. GRAPH #1 Age 0% 13-14 15-16 17-18 Over 18 21% 25% 54%
  • 6. GRAPH #2 Gender Male Female 46% 54%
  • 7. GRAPH #3 Annual House hold income 0 400 600 700+ 7% 7% 17% 69%
  • 8. GRAPH #4 A n a l y ze Graph#4 Highest Result The highest result would be 2 days at 49% How often do you go out to eat? Lowest Result The lowest result is a tie with everyday and none at 3%. 0 1 2 3 Everyday What Is the advantage of the highest result? 3% 3% The advantage of the highest result is to know how many of my customers eat out, thus I will know how many people may return. 19% 26% What is the disadvantage of the lowest result? The disadvantage of the lowest result is of course the people that don’t go out to eat won’t come to my restaurant. How will this information benefit your business? This information will benefit my business by knowing a percentage of people that will eat out a lot and know who my customers are. And how can you meet customers needs? 49% I can meet customer needs by trying different things in my restaurant to see if it attracts more people at my restaurant. Summarize the graph This graph just shows the different amount of people that eat out or don’t. 19% eat our 3 days a week, 49% for 2 days, 26% for 1 day, and 3% both for Everyday and none.
  • 9. GRAPH #5 A n a l y ze Graph #5 Highest Result The highest result for the type of restaurants people eat are Buffet’s. 2% Lowest Result What type of restaurants do you The Lowest Result would be Extravagant. What Is the advantage of the highest result? eat at? The advantage of the highest result is really good because the type of restaurant that I'm running is a buffet. Buffet Fast Food Casual Extravegant None What is the disadvantage of the lowest result? There really is no disadvantage to the lowest result because the high end came out with Buffet. Which is exactly what I'm running. 14% How will this information benefit your business? 29% This information will benefit my business by knowing that a lot of people like to eat at buffet’s. And how can you meet customers needs? I can meet customer needs by giving them the best buffet experience they ever had, by providing a variety of different foods at a reasonable price. Summarize the graph 27% This graph just shows the different type of restaurants people eat at. There is 28% for Fast Food, 27% for Casual, 29% Buffet, 14% for Extravagant, and 2% for None. What can be offered The things that can be offered at my restaurant is a good buffet and plenty of good 28% food for the customer to enjoy.
  • 10. GRAPH #6 A n a l y ze Graph#6 Highest Result The highest result would be food. Lowest Result What do you like most about a The lowest result is Scenery. What Is the advantage of the highest result? restaurant? The advantage of the highest result would be that If our restaurant Hospitality Food Location Scenery prepares good food people will return and not judge us on our building. What is the disadvantage of the lowest result? 5% The disadvantage of the lowest result is that people care more about 13% our food then how things look around it. So we have to be on top of 14% our food so that customers return. How will this information benefit your business? This information will benefit my business by using these things so remember what people come to our buffet for which is to eat and have a good time. So we have to make sure that our food is top noch. And how can you meet customers needs? 68% We can meet customers needs by making Summarize the graph In this graph 68% chose food, 14% for location, 13% for hospitality, 5% for Scenery What can be offered The things that can be offered
  • 11. GRAPH #7 A n a l y ze Graph #7 Highest Result The highest result for this graph is fried chicken. How do you like your chicken? Lowest Result The lowest result for this graph is broiled. Baked Fried Stuffed Broiled Don't eat chicken What Is the advantage of the highest result? The advantage of the highest result is now I know what type of chicken I will need to 0% make more of for my buffet. 6% What is the disadvantage of the lowest result? 8% There is no disadvantage. 28% How will this information benefit your business? This information will benefit my business by knowing what people expect at my buffet food wise. And how can you meet customers needs? I can meet customer needs by giving them what they want and make customers happy Summarize the graph In this graph there was 58% for chicken, 28% Don’t eat chicken, 8% Stuffed and 6% Broiled. 58% What can be offered We will offer a lot of fried chicken based on our votes and a lower amount of stuffed and broiled because it will not be necessary
  • 12. GRAPH #8 A n a l y ze Graph#8 Highest Result The highest result is Yes. Do you enjoy eating at a Buffet? Lowest Result Yes No The lowest result is No. What Is the advantage of the highest result? The advantage of the highest result is that a lot of people like to eat at buffets, so I know that there is a lot of people 17% What is the disadvantage of the lowest result? The disadvantage of the lowest result is that not everyone would like to eat at buffets. How will this information benefit your business? This information will benefit my business by letting me know just how much people enjoy eating at buffet’s and know that food has to be always be out and in the proper place. And how can you meet customers needs? I can meet customer needs by providing coupons or deals for returning 83% customers. Summarize the graph 83% said yes, and 17% said no.
  • 13. GRAPH #9 A n a l y ze Graph#9 Highest Result The Highest result is 71% for yes. Lowest Result Would you consider returning if the food is good The Lowest result No but prices are high? What Is the advantage of the highest result? Yes No The advantage of the highest result is knowing that my customers are willing to pay for quality food, and not too concerned about the price if their getting what they pay for. What is the disadvantage of the lowest result? 29% The disadvantage of my lowest result is that many people will not return if my prices are high and food is not good. How will this information benefit your business? This information will benefit my business by letting me know how to set my prices and 71% not go to overboard. And how can you meet customers needs? I can meet customer needs by providing excellent prices, food and services.. Summarize the graph In this graph there were 71% that voted yes and 29% that voted No.
  • 14. GRAPH #10 A n a l y ze Graph#10 Highest Result The highest result is $60+. How much are you willing to Lowest Result pay? The lowest result is $20. 1 2 3 4 5 6 What Is the advantage of the highest result? The advantage of the highest result is that people are willing to pay over 60$ if 0% the food is what they expected. 10% What is the disadvantage of the lowest result? The disadvantage of the lowest result Is that some people are not willing to 30% spend a certain amount of money out at restaurant or a buffet. 15% How will this information benefit your business? This information well benefits my business by helping me price my food. And how can you meet customers needs? 20% I can meet customer needs by providing reasonable prices for people to eat at 25% my buffet. Summarize the graph 30% chose $60, 25% chose 5, 20% chose 4, 15% chose 3, 10% chose 2. What can be offered A gift that I can offer is a 10% off coupon.
  • 15. CUSTOMER PROFILE My customer ages range from 15-16 My customers annual income was 0 a year. Gender that voted the most was male. Out of the week most people eat out 2 days of the week.
  • 16. CONCLUSION This analysis allowed us to find our target market in order to become a successful restaurant/buffet. The results showed what people look for when coming to my buffet. The analysis also showed that people look forward to the food that you provide rather than how the restuarant looks.