The objective of this assignment is to develop an environment analysis research designed to identify preferred location, potential target markets, competitors’ analysis, and its feasibility and success of “Beautiful Stranger” fast food restaurant.
2. Business Characteristics and Operations
Eating out is a wonderful experience, something one can enjoy with family and friends. However, eating healthily at restaurants on a regular basis may pose a few challenges. Being unfamiliar with the cuisine, cooking style or serving portions, one may wind up eating larger portions or indulging in a lot more fat, sugar and salt than normally would be consumed at home.
“Beautiful Stranger”, a new concept fast food restaurant which offers a wide range of “healthier choice” set meals. This restaurant encourages customers to have a well balance diet, whereby each meal comes with a choice of carbohydrate, meat or seafood, vegetable and soup with complimentary fruit of the day.
2.2 Mission Statement
To give every customer an outstanding quality, healthy and value for money set meal on each visit of the restaurant.
3. Market Research
A simple survey of dining habits and preferences was conduction on 21st March 2010 at Orchard Mass Rapid Transit (MRT) station between 12 to 6pm. 300 persons were randomly approached to ask to fill up the questionnaire. A sample of the survey form is shown in Appendix 3a.
The data were tabulated and analyzed.
Table 3b Demographic of Age Group
|Age Group | 65 |
|% |10 |38 |42 |7 |2 |1 |0 |
Table 3c Breakdown of Demographics
|Frequency of Eating |Daily |Twice a week |Three a week |Once every month |Once every 3 month | |out | | | | | | |% |96 |1 |2 |0.8 |0.2 | |Travel Distance |Neighborhood |Heartland Area |Other heartland |Town Area |Outbound Area | | | | |Area | | | |% |12 |25 |29 |31 |3 | |Price willing to pay |$3-4.00 |$4.50-5.50 |$6-7.00 |$7.50-8.50 |>$10.00 | |% |8 |18 |54 |16 |4 |
Table 3b shows the breakdown of the demographic of age group. Table 3c shows the breakdown of other demographics. 96% of the participants eat out daily. Majority of these people are willing to travel to other heartland and even town area to have their meals. Many participants felt that S$6 – 7.00 is a reasonable price for a proper set meal.
Most of the people felt that quality of food is their main concern when selecting a restaurant. Value for money is equally important. Menu variety is their third interest. Diner also felt that the services provided by the waiter and waitress plays a major part as well.
4. Location Choice
Ang Mo Kio Central is a desired location. Being a heartland new town located in north central Singapore, it contains many of the common features of the island nation's neighborhoods, like HDB housing blocks, schools, wet markets and other shop houses. AMK Hub shopping mall is located in this area, whereby it will helps to bring in crowds as there is a hyper-mart and Cineplex.
This town is well served by a multi-modal public transport system. Two MRT stations serve the town. Ang Mo Kio MRT Station at the centre of town and Yio...