Consumer Insights Analysis_Bamboo Tori


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Client: Bamboo Tori
Project: Customer Insights Analysis

Published in: Business, Technology
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Consumer Insights Analysis_Bamboo Tori

  1. 1. CUSTOMER INSIGHTS Panos Anadiotis | Lauren Baxter | Victor A. Paredes | Priya Singhal | Esther Tranle
  2. 2. PROBLEM SOLVING APPROACH Background Business Problem Secondary Research Primary Research Findings | General and Test Recommendations
  3. 3. BUSINESS BACKROUND •  Opened in October 2012 •  Located on University Place •  Specialty is Yakitori •  Wants to bring Yakitori to the US •  Prospect of second location in Midtown
  4. 4. BUSINESS PROBLEM Is location an important factor for the unaware to eat at BT or for the aware to eat more frequently at BT? Aside from location, what other factors such as eating habits or take out habits or cuisine preferences are important for unaware to eat at BT or for the aware to eat more frequently at BT”?
  5. 5. SECONDARY ANALYSIS ANALYSIS PESTLE FRAMEWORK Macro-environmental PORTER’S 5 FORCES Industry analysis and business strategy SWOT Structure of planning BCG Business Unit Analysis Competition is high and there is the possibility by relocating to dry up current resources but capitalising on social and environmental trends in alignment to current strengths like food quality and superior service provide plenty of room for growth
  6. 6. PRIMARY RESEARCH 1. General Eating Habits Questions 2. Yakitori 3. Bamboo Tori 1. Has Eaten at Bamboo Tori Segments 2. Does not know about Bamboo Tori 3. Knows about Bamboo Tori but has not eaten there
  7. 7. DEMOGRAPHIC     Findings: Respondent portfolio PSYCHOGRAPHICS     Males : 44.6% Females: 55.4% •  Familiarity with Yakitori: 53.9% •  89.2% of our respondents fall in the age group of 18-34 with 56.8% in 25-34 years Familiarity with Bamboo tori: 42.1% •  Eating Habits: 44.7% eat lunch out 3-5 times a week 42.1 % eat dinner out 1-3 times per week Lunch is mostly Take- out •  Influencing factors: online reviews, word of mouth and location. •  ‘location’ factor for take-out? 81.6% would travel anywhere between 0-5 blocks for a take–out •  Point of contact with Take-out places: In-Person GEOGRAPHICS     39.2  %  are  white  and  43.2%   are  Asian    
  8. 8. ACCORD MODEL PERCEPTIONS ACCORD Model Aware Relative Advantage Current positioning: natural products with no hormones not a factor for choosing bamboo tori Are not interested in knowing how/ where ingredients are grown Simple concept Vending machine at Midtown may elevate complexity Convenience compatibility Looking for online compatibility Miscommunication: Observed benefit is price vs. real benefit is cuisine in take –out Not looking for Yakitori in specific No risk currently N/A positive correlation between visiting bamboo tori and recommending it to others. Most significant factor in causing visits to any restaurant: Online reviews (WOM Campaigns, Yelp, Seamless) Complexity Compatibility Communication Risk Divisibility Unaware
  9. 9. 1 RECOMMENDATIONS Ø  Educate population about Yakitori. Currently, only Asian and White populations are the only ones consuming Yakitori at Bamboo Tori. Ø  Offer promotions for dinner time to increase number of dinner customers to increase awareness. Ø  Increase awareness of Bamboo Tori through search engine optimization, advertising and couponing and free samples in the NYU community and more importantly in the Union Square area. Ø  Referral and loyalty program at the restaurant with a stamp card and online (Facebook, Twitter and Instagram) Ø  Increase presence on Seamless Ø  Free delivery. Most of customers prefer buying online.
  10. 10. FURTHER RESEARCH 1 Validity Questions around Price sensitivity to determine if price increase is an option for revenue maximization. 2 3 Reliability Representativeness Increase reliability of the questionnaire in terms of revealing the factors that inhibit visits. Respondents were either aware or unaware, however more aware but not visited Bamboo Tori respondents should be surveyed to enhance accuracy of responses. Conduct pre and post visits surveys to forecast demand and cash flow projections with average dollar transaction; and, improvement of product mix by performing a basket analysis. Carry out observation exercises as more accurate information can be interpreted when the consumer does not want to reveal the right answer.
  11. 11. thank you