A restaurant chain plans to open its second restaurant in London. To ensure this is a viable move, the shareholders are keen to understand the market. Therefore you are asked to carry out a planned data collection and data analysis to help the board of directors in understanding the customer pricing preferences.(e.g. income &price, age &price)
Task 1 (LO 1: 1.1, 1.2, 1.3 and LO 2:2.1, 2.2, 2.3) (M1, D 1,D2)
Report on Data Collection and Analysis, In this report:
Create a plan for primary and secondary data collection with presenting the survey methodology & sampling frame used
Design a questionnaire to collect data and provide a justification for its design
Collect data and summarise the collected data using representative values
Analyse the collected data using measures of dispersion. You must be able to use the analysis of the pricing preferences to inform and support decision making.
Carry out suitable calculations to draw useful and realistic conclusions and provide valid recommendations. Your calculations must include quartile, percentiles and the correlation coefficient. Explain how these calculations helped you to draw useful conclusions.
To achieve M1, have effective judgements and approach in using variety of sources for the collection of data and range of techniques to analyse data effectively To achieve D1, justify conclusions through synthesis of ideas and propose realistic improvements for the collection of data and range of techniques to analyse data effectively To achieve D2, properly manage activities in using variety of sources for the collection of data and range of techniques to analyse data effectively
Task 2 (LO 3: 3.1, 3.2, 3.3, 3.4 and LO 4: 4.1, 4.2, 4.3)(M2,M3,D3)
Prepare a Business Presentation and a formal Business Report to disseminate information effectively which include;
the findings which should be used to draw valid conclusions .You must use spreadsheet software for all calculations and incorporate graphs and charts(line,pie,bar chart,histogram,scatter ) to clearly and effectively present the findings.
trend lines in graphs to assist in forecasting for specified business information. For example, this may include people’s eating behaviours overtime and preferences against seasonal changes.
a business presentation to disseminate information effectively
Prepare a formal Business Report to be presented to the board of directors
Use appropriate information processing tools to analyse the information
Plan for the project, identifying relevant CRITICAL PATH, PERT, GANNT Chart, to implement a business process and the recommendations you are suggesting from your findings. For example, a business process to serve customers (It is essential to use appropriate project management software)
different financial tools such as discounted cash flow, net present value and IRR functions to evaluate the financial viability of the proposed recommendations