Market Research Proposal
UNDER THE SUPERVISION OF
DR. CODY PARIS
The success of any given business organization depends on its ability to formulate the best strategy and be able to overcome competition within the market. Yoko Sizzlers, a leading chain of restaurants in UAE specializes in the class of cuisine served to the customers. However, off late due to new entrants in the sizzler industry, competition has become cut throat resulting in erosion of market share for Yoko Sizzlers. Therefore this is a proposal for a study that seeks to understand the nature of the food industry in particular sizzlers category which will help in devising the appropriate internal & external strategy that will allow Yoko Sizzlers to recapture some of its lost market share which is our research question in this proposal. A performance analysis approach will project the performance and business position of Yoko Sizzlers. Most of the companies fail because of their inability to address the issues. The objectives of this is study is to increase sales, add more menu options, reducing prices to beat competition. The Research method will be explorative, descriptive as well as qualitative methods such as Dephi & Grassroots to help over the management decision problems currently faced by Yoko Sizzlers. This study will take around 12 weeks to complete.
The success of any given business organization depends on its ability to formulate the best strategy and be able to overcome competition within the market. Yoko Sizzlers is one of the leading food chains of fine dining restaurants based in United Arab Emirates (UAE) serving continental cuisines since last 16 years. The name ‘Yoko’ is derived from the Japanese city of Yokohama. It’s tag line ‘When you’re tired of eating out, come home to Yoko Sizzlers’ attempts to make its patrons sense at home no sooner than they arrive within the dining area. At present, there are couple of outlets in Al Karama & Al Nahda respectively, whereas outside UAE, Yoko Sizzlers has its presence in over 12 cities with as many as 23 outlets. The organisation has nearly 60 employees in UAE. Since sizzler’s are classified as niche dining, the company’s target audience are not every man’s jack but a mature audience who are not only well informed of the product but also belong to the high income earners category. Yoko’s had a higher market share than its competitor’s Kobe Sizzlers and the American entrant ‘Sizzler’. However, lately due to cut throat competition amongst these genre of restaurants, Yoko has started to lose some of its share which can be factually proved due to decreasing sales and also the ever increasing outlets of its competitors. Therefore, we can say that our study is based on recapturing the lost market share from its competitors through new strategies after conducting a thorough market research.
The problem of marketing management has been a major issue affecting the performance of many companies in the UAE. That being the case, there has been need to consider some of the best approaches and strategies to ensure the organization realizes its goals and objectives. This calls for a study to examine some of the best approaches through which the company can be on the right path towards excellence. The research question for this study is as follows:
1) How can a company of the extent and capacity of Yoko Sizzlers recapture its market share and compete against rival fine dining restaurants such as Kobe’s and Sizzler?
2) What sort of internal & external strategies could be implemented to ensure that Yoko Sizzlers can capitalize and grow its customer base of the already diminutive sizzler industry?
The use of study objectives is always necessary to ensure a business is on the right path towards...
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