George IBM 4032 – Assignment Research

Assignment:
Research
The purpose of this assignment is to
identify and conduct key research that needs to be conducted to understand each
aspect of the business and its environment using the Five Forces Model.

Industry Name: Restaurant
Country: Toronto, Canada
1. Researching Customers

1.1
What is the geographic scope of
the market you intend to serve and why?
1.2
What customer needs will your
product or service satisfy?
1.3
List and describe the main
different types of customer for your product/service.
1.4
Which of these market segments
will you concentrate on and why?
1.5
Match the features of your
product/service to the real or perceived benefits to the customer in each of
the market segments.
1.6
Which companies are the
“innovators” in each of the market segments?
1.7
What factors are important in
the customer’s decision to buy or not to buy your product/service?
1.8
Is your target market(s)
segment(s) expanding/stable/contracting?

2. Researching Competitors

2.1
List your competitors in your
industry segment and describe their characteristics
2.2
Analyze their size,
profitability, operating methods, and strategy.
2.3
What are their relative
strengths and weaknesses compared both with each other and with your business?
2.4
Based on this competitor
analysis, what do you believe are the critical factors for success in your
business sector?
2.5
What is unique about your
business proposition that makes your product/service stand out from the
competition?

3. Plan for Market Research

3.1
What information do you
currently have on customers, competitors, markets?
3.2
What information do you still
need to find and why is this important?
3.3
What secondary research do you
need to conduct at this time and what are the best sources to check?
3.4
What primary research do you
need to undertake before you can proceed with your business idea?
3.5
How much time and money will be
needed to carry out this primary market research?
3.6
Who in your company will be
responsible for overseeing each element of the research and why?