The Restaurant Business - Entrepreneurship, is worth it?

Suitable Types of Research Programs

As noted by Hair et al (2006 , there are various ways in which a business can gather market information . They note that information can be gathered through observations , survey of respondents , and experiments . However , in the case of Santa Fe , survey of respondents is the most appropriate type of survey . In this type of survey , the owners can be able to sample respondents who are relevant to their purpose . The owners have posed specific questions that they seek to answer . This form of research will enable them

to focus their research on the issues of interest

Hair et al (2006 ) note that under survey of respondents there are options such as person-administered , telephone-administered self-administered , and computer-assisted surveys . The two entrepreneurs can combine several methods in to maximize the outcome of the exercise . A combination of the four methods can be able to gather the relevant information to answer the questions posed by the owners

Additional Questions

The questions proposed by the owners are Are the customers satisfied or not ? Why are the customers not satisfied ? Are there problems with the food , the atmosphere , or some other aspect of restaurant operations (e .g . employees or service ? Is the target market correctly defined , or do they need to focus on a different niche ? What are the common characteristics of the satisfied customers

In addition to these questions , the owners should add questions that will enable them to identify and expand their market share . Such questions could be What share of the population does the restaurant serve ? What is the market share of each of the competitors ? What are the competitors doing different ? What are we doing that is different from the competitors ? What are some of the changes that the customers would like to see

The addition...