The paper 'Michael Jenkins Restaurant" is a good example of a management case study. As a business orientation pulls all the capital resources at disposal towards the motivation to invest, the restaurant is one of the best businesses in modern society. As Michael Jenkins aims are concerned, the most important factor is having perfect knowledge about the market. The purpose of this report is to come up with reliable information on the likelihood to patronize Jenkins’ s restaurant, the average amount that can be spent in that restaurant per month, and the average price that can be paid by each customer.
In this way, the feasibility analysis, as well as the break-even analysis for the restaurant, would be more reliable and accurate. It would also be important in determining the possibility of having adequate demand for the restaurant according to Jenkins’ s plans. Objectives The main objectives of the project include, Determination of the average monthly income of most of the potential customers. Determination of the population among different areas using postcodes Analyze the feasibility of the customer preferences and tastes Come up with a reliable report about the market's demand, demographics and social lives. Research questions The following research questions guided the analysis and provided a clear focus for the study; How much are potential patrons willing to pay for entrees?
Is the $18 amount from the forecasting model correct? Can Michael expect all patrons to spend an average of $200 a month on food? Which postcode area(s) provide the best location for the restaurant? Does the likelihood of attending the new restaurant different between codes? Does the expected average monthly spending differ between potential patrons with different incomes? Should there be waterfront views, or will patrons-only drive less than 30 minutes to the restaurant? Would it be more important to patrons if the restaurant had unusual desserts, unusual entrees or both? Which section of the newspaper should Michael select for advertising?
Which section do most probable patrons like to read? Is there a relationship between monthly spending and age, family size and gender? Does the family size differ between probable or non-probable patrons? Is there a relationship between marital status and the probability of being a patron?
Work citedCooper, D. R., & Schindler, P. S. (2008). Business research methods (6th ed.). Boston: Irwin/McGraw-Hill