Steak House Final Report.ppt
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The document summarizes a report about conducting market research for new steak house restaurants. It found that [1] customers want variety beyond just steak, a child-free section after 9pm, and high-quality ingredients. [2] Customers can be segmented into those seeking social experiences, focused on food, and desiring elegant ambiance. [3] Successful steak houses will identify their target customer segment and cater to what matters most to that group.
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Steak House Final Report.ppt
- 1. Math 110 Brought to life with Addressable Minds FINAL REPORT – DECEMBER 2011 STEAK HOUSE Project Team Samantha Brand Jason La Sala Phillip Tarantini
- 2. 2
- 3. Our Business Issue • An increased number of new Steak Houses are opening these days • But….there are even more Steak Houses closing • The Restaurateurs who are opening these Steak Houses are unsure of what the consumer of 21st century wants when it comes to a dining experience. • What can we do to change this? 3
- 4. As whole our survey produced these results… *Most people enjoy a child free section after 9pm *Customers want variety when they go to a steak house…not just steak! *Customers also want top notch ingredients to be used 4
- 5. But people are different so we broke our results up into 3 segments Different Customers– Different Approach Ambiance Socialites 41% Food Enthusiasts 19% 40% Messaging for one isn’t necessary going to appeal to the other…and could actually hurt 5
- 6. Socialites These customers want to : •Enjoy a drink •Have lots of options in what they drink •Listen to live music and mingle with others They are not interested in •The ambiance of the restaurant •Portion sizes 6
- 7. Food Enthusiasts What’s important • They enjoy food that have won awards and recognition. • The food must be made with fresh material. • Big portion sizes are preferable. What’s not important •A large selection of alcohol •The location does not matter 7
- 8. Ambiance Seekers/ Couples These customers enjoy: •Lightly colored rooms •Floral arrangements on tables •Candles are a must too Not interested in: •Live entertainment •Watching sports while enjoying their meal 8
- 9. To Conclude…….. • Not every Steak House will please every potential customer • A new Restaurateur needs to find out what kind of Steak house consumers they want to come to their restaurant • He or She should do all that they can to please a certain group to achieve success 9
- 10. 10