Is It Profitable to Start a Restaurant/fast Food Store in Rohtak Immediately After the Agitation
Autor: Vivek Parashar • October 31, 2016 • Term Paper • 1,535 Words (7 Pages) • 823 Views
INDIAN INSTITUTE OF MANAGEMENT ROHTAK |
MARKETING RESEARCH |
IS IT PROFITABLE TO START A RESTAURANT/FAST FOOD STORE IN ROHTAK IMMEDIATELY AFTER THE AGITATION |
Alfin (006) , Bhuvan (017) ,Nikhil (034) , Vishnu (056) , Vivek (057) |
3/10/2016 |
This document contains the initial steps of our food industry market research of the current situation of Rohtak, to determine if it is profitable and sustainable to start a restaurant in Rohtak City after the unfortunate JAT agitation. |
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Problem Statement:
Will starting a restaurant cum fast food joint prove profitable and sustainable in Rohtak City after it was hit by the unfortunate incidence of the JAT agitation?
Symptoms:
Many restaurants/hotels were burnt down or destroyed during the agitation. It is the perfect business opportunity to establish a new brand and capture the market as the competition is at its lowest. Major casualty during agitation includes McDonald which had large number of customers.
MANAGEMENT DECISION PROBLEM:
To determine the profitability of a new restaurant cum fast food joint in the current situation of Rohtak City.
MARKETING RESEARCH PROBLEM:
To define the Marketing Research Problem, we need two inputs. The first task will be to determine all the factors which determine the profitability of a restaurant cum fast food joint in Rohtak city in the current scenario and the second task will be to obtain all that information via primary and secondary research.
FACTORS AFFECTING PROFITABILITY IN THE CURRENT SITUATION :
- Price of products
- Segment that we cater to
- Current Lack of competition
- Current Price of real estate/rent
- Untapped Market in Rohtak City
- Current prices of raw material
- Over abundance of labor/chefs/waiters
We have decided to represent our Research objective as a statement and not a hypothesis, as to build a hypothesis, we need more information and data on a topic, and the data that we need for research will have a major chunk of primary data. We will be conducting surveys and focus interviews with the owners and employees of the restaurants or fast food chains still operational in Rohtak City for the next step of our research. A subway has opened in Rohtak City immediately after the agitation, and the lack of competition is going to play a major role in its success, as the major competitor of Subway in other markets all over the world, MCDonalds was destroyed during the agitation. To start a similar venture with a differentiation factor, we need data to back our assumption, once we have the data, we can come to an alternate hypothesis and confirm it by analysing the data.
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