Market analysis 3

MARKET ANALYSIS RESEARCH

Saveurs De Caraibes

Christian Laroche

6th periodEntrepreneurial

VenturesMrs. Davis

TABLE OF CONTENTS• PURPOSE

• QUESTIONS

• GRAPH #1

• GRAPH #2

• GRAPH #3

• GRAPH #4

• GRAPH #5

• GRAPH #6

• GRAPH #7

• GRAPH #8

• CONCLUSION &

CUSTOMER PROFILE

PURPOSE OF MY SURVEY

The purpose of this analysis is to see what kind of foods our potential

customers will enjoy eating. These graphs helped to show us what are the

most popular foods that we will sell and what our customers favorites our.

Knowing what our customers want gives us a great advantage of being successful and an advantage on our competition. They help us see which products they want to see and which

ones they don’t.

QUESTIONS• Graph 1: How many times do you go out to eat a week?

• Graph 2: Where do you go out to eat to?

• Graph 3: When you go out to eat, what is the normal price range you choose?

• Graph 4:What is your favorite Caribbean dish that you would order when going out

• Graph 5: Which Caribbean island type restaurant do you usually go to?

• Graph 6: Do you normally pick Caribbean food when you go out to eat?

• Graph 7: Is Caribbean your favorite food?

• Graph 8: How much are you willing to pay when you go out to eat?

• Highest Result: Other & Chinese

• Lowest Result: Caribbean

• Advantage of Highest Result: There truly is not an advantage to my highest result because it shows that the type of food I would serve is not the highest favored but it does show my competition.

• Disadvantage of Lowest Result: The disadvantage is the type of food my restaurant is serving was the least picked in this survey

• Benefit of this question: The benefit of this question is that I see that the food my restaurant serves is the least favored to go eat at but it also shows that I will have a certain group of customers coming and hopefully they can become regulars'. It also gives me a better sight on who my competition is.

GRAPH #1

• Highest Result: Eat out one to two times a week

• Lowest Result: There was a three way time between 5 and 6 times a week, 7 times and over, and not going out to eat at all during the week

• Advantage of Highest Result: The advantage of this highest result is that I know the majority of people go out to eat at least once or twice a week, which means there is a very good chance for business everyday.

• Disadvantage of Lowest Result: The disadvantage for this question is that people don’t usually go out to eat more than 5 times a week, which would decreases my chance of getting business, but I also see that only 5% of people never eat out which means 95% of people eat out at least once a week.

• Benefit of this Question: This question helps me see how much business I can expect and possibly get to come eat at my resteraunt.

GRAPH #2

• Highest Result: price range between $16-$20

• Lowest Result: price range between $0-$5

• Advantage of Highest Result: The advantage of this question is that the majority of people are willing to spend at least $20 when they go out to eat.

• Disadvantage of Lowest Result: There is not much of a disadvantage in this situation it shows me that when people go out to eat they are willing to spend money

• Benefit of this Question: The benefit of this question is that it helps me decide the prices of my dish’s and gives me a sense of what people are willing to pay for food.

GRAPH #3

• Highest Result: Curry Chicken

• Lowest Result: Red Snapper

• Advantage of Highest Result: The advantage is that the majority of people enjoy Curry Chicken more than any other Caribbean dish.

• Disadvantage of Lowest Result: The disadvantage is that most people wouldn’t order Red Snapper so might have to consider taking that off the menu

• Benefit of this Question: This question helps me to see what my customers favorite dish’s are and can help me plan the menu to their taste.

GRAPH #4

• Highest Result: The majority of people do not choose Caribbean food when they go out to eat.

• Lowest Result: The minority of people do choose Caribbean food when they go out to eat.

• Advantage of Highest Result: This shows me that my type of restaurant isn't the most favored but lets me know that I will have a select group of customers that will come to my restaurant.

• Disadvantage of Lowest Result: That my restaurant is not the most favored restaurant when people choose where to eat.

• Benefit of this Question: This question lets me know that I will have a specific group of customers, and a lot of competition so I might need to advertise and get my restaurant’s name out there

GRAPH #5

• Highest Result: In this survey Caribbean food is not their favorite food.

• Lowest Result: Lowest result is that Caribbean food is the surveyors' favorite food

• Advantage of Highest Result: Not much of an advantage to this except, it shows that people might try Caribbean food to try something new.

• Disadvantage of Lowest Result: That Caribbean food is not the surveyor’s favorite food.

• Benefit of this Question: Shows me that some people do favor Caribbean food and that some people might want to try something new and I could bring in more business.

GRAPH #6

• Highest Result: People are willing to spend $25 and over when going to eat.

• Lowest Result: $1-$5• Advantage of Highest

Result: Shows me that people are willing to spend over 25 dollars when going out to eat, so I can have some higher priced items on my menu.

• Disadvantage of Lowest Result: Not much of a disadvantage because it shows I can have higher priced dishes on my menu

• Benefit of this Question: Lets me know that my customers are willing to pay a little extra for better quality food.

GRAPH #7

• Highest Result: Jamaican food

• Lowest Result: Bahamian food

• Advantage of Highest Result: This result helps me know that my customers prefer Jamaican food so I can have more of those options on my menu.

• Disadvantage of the Lowest Result: The disadvantage is that I would probably not put any Bahamian food on my menu, even though I love their food!

• Benefit of this Questions: Because my restaurant is called flavors of the Caribbean I am including different Caribbean countries foods on my menu, this helps me narrow down which countries I will include and which ones I will have to eliminate.

GRAPH #8

CONCLUSIONI LEARNED A LOT FROM DOING THIS SURVEY. IT HELPED ME LEARN A TON OF HELPFUL INFORMATION FOR MY BUSINESS AND SHOWED ME THE THINGS I NEED TO CHANGE. IT LET ME KNOW WHAT MY CUSTOMERS WOULD LIKE MOST AND GAVE ME A VIEW OF THE TYPE OF CUSTOMERS I WOULD HAVE. IT ALSO HELPED ME FIND OUT WHAT TYPES OF FOOD TO INCLUDE ON MY MENU, AND WHAT CARIBBEAN COUNTRIES I NEED TO PULL FROM. THIS SURVEY ULTIMATELY, HELPED ME BETTER MY BUSINESS FOR MYSELF AND FOR MY CUSTOMERS.

CUSTOMER PROFILE

• QUESTION 1: AGE: 15- 16• QUESTION 2: GENDER: MALE & FEMALE (EVEN)• QUESTION 3: MONTHLY INCOME: $0• GRAPH 1: MAJORITY ATE ONCE OR TWICE A WEEK• GRAPH 2: MAJORITY PREFFERED CHINESE FOOD AND

OTHER• GRAPH 3: NORMAL PRICE RANGE $16-$20• GRAPH 4: MAJORITY PREFFERED CURRY CHICKEN• GRAPH 5: MAJORITY DID NOT PICK CARIBBEAN FOOD

WHEN GOING OUT TO EAT• GRAPH 6: CARIBBEAN FOOD WAS NOT THE FAVORITE

FOOD• GRAPH 7: MAJORITY WAS WILLING TO PAY $25 OR

OVER• GRAPH 8: MAJORITY PREFFERED JAMAICAN FOOD

Highest Results: