logo

The Role of Market Research In Expanding The Catering Business: A Study on Delhi Orchid Restaurant, London ACKNOWLEDGMENT

   

Added on  2019-12-03

46 Pages13820 Words321 Views
Role Of Market Research In Expanding TheCatering Business: A study on DelhiOrchid Restaurant, London

ACKNOWLEDGMENTI am thankful to all those individuals who have supported me by providing motivationalong with proper guidance in completion the dissertation with an appropriate manner. Firstly, Iowe my thanks to tutor who provided me a significant opportunity to undertake this dissertationon an interesting topic. Furthermore, I am also grateful to my team members, participants alongwith family who provided appropriate support in all possible accords in completion ofdissertation and generation of reliable outcomes.

ABSTRACTThere has been significant changes identified in growth and development of cateringbusiness. Due to increase in competition among catering firms, role of market research hassignificantly increased for attainment of greater returns as per the current market trends. In orderto analysis importance of market research within catering business, the present study isscheduled To assess the role of market research in expanding the catering business: A study onDelhi Orchid Restaurant. By considering the outcomes and findings of present assessment, themanagement of Delhi Orchid Restaurant is able to apply distinct tools of market research as perthe distinct business requirement. This investigation also increases understanding of differentelements of market research. Therefore, different objectives are developed that includeassessment of importance of market investigation, identification of factors which are consideredby catering firm in business expansion process and role of market research in growth anddevelopment of Delhi Orchid Restaurant. As per the objectives of investigation, this research has selected an appropriate researchmethodology that has direct impact on outcomes of invesitigation. As per the qualitative natureof study, different tactics such as qualitative method, descriptive research design, interpretivismphilosophy and deductive research approach have been selected by investigator. Researcher hasapplied both primary and secondary sources for collection of wide range of data. A sample of 10managers who are working in Delhi Orchid Restaurant has been taken by using non-probabilisticsampling. Thematic analysis is carried out to examine views of manager in the context of marketresearch. As per the finding of primary and secondary assessment, it has found that marketresearch facilitates wide range of data associated with consumer needs, number of rivals, currenttrends in food production, creative services, culture and traditions along with effectiveness ofdifferent marketing tools through which management is able to develop appropriate businessstrategies as per the distinct needs of catering business. Use of social media and blogs along withbusiness dynamic statistics have been suggested by researcher as appropriate tools for marketresearch.

TABLE OF CONTENTSCHAPTER 1: INTRODUCTION....................................................................................................61.1 Background of the study........................................................................................................61.2 Rationale for the study...........................................................................................................71.3 Research aim..........................................................................................................................91.4 Research objectives................................................................................................................91.5 Research questions.................................................................................................................91.6 Chapter structure..................................................................................................................10CHAPTER 2: LITERATURE REVIEW ......................................................................................122.1 Introduction..........................................................................................................................122.2 Definitions...........................................................................................................................122.3 Importance of market research in catering business expansion ..........................................132.4 Important factors considered by company while expanding and marketing its cateringbusiness......................................................................................................................................152.5 Identifying the impact of market research on growth and development of catering business...................................................................................................................................................182.6 Conclusion...........................................................................................................................20CHAPTER 3: RESEARCH METHODOLOGY.............................................................................13.1 Research type.........................................................................................................................13.2 Research design ....................................................................................................................23.3 Research philosophy..............................................................................................................23.4 Research approach.................................................................................................................33.5 Data collection.......................................................................................................................33.6 Sampling technique................................................................................................................43.7 Data analysis..........................................................................................................................43.8 Validity and reliability of data...............................................................................................43.9 Ethical consideration..............................................................................................................53.10 Limitation of research ........................................................................................................5CHAPTER 4: DATA ANALYSIS AND FINDINGS ....................................................................64.1 Introduction............................................................................................................................64.2 Results and analysis...............................................................................................................64.3 Conclusion...........................................................................................................................16

CHAPTER 5: CONCLUSIONS AND RECOMMENDATION...................................................175.1 Conclusion...........................................................................................................................175.2 Recommendation.................................................................................................................18REFERENCE ................................................................................................................................20APPENDIX....................................................................................................................................24

CHAPTER 1: INTRODUCTION1.1 Background of the studyHospitality industry has gained tremendous growth due to change and interest as well aslifestyle of consumers. In addition to that globalization has led positive impact on overseasbusiness expansion to manage market competition. In this context, catering businesses have alsomaintained significant growth as per the positive trends of hospitality business (Brace, 2008).The catering is termed as business in which an organization or an individual vendor providesdifferent kinds of food products and food related services on different sites such as hotels,restaurants, houses, etc. The importance of catering has been grown significantly due to increasepublic and business occasions or events including business meetings, conferences, exhibitions,special events, weddings, and other social occasions. In addition to food services, severalcaterers also provide other services like decoration, music and other activities of events. Thiselement has influenced occurrence of various small, medium and big catering organization(Witell, Kristensson, Gustafsson and Löfgren, 2011). The emergence of new companies andcatering or event firms is played significant role to increase competition level among differentorganization. This market situation is considered as most important element that influences firmto expand business in new market. In this regard, the present research is carried out to assess the role of market research inexpanding the catering business by focusing different business operations and strategies of DelhiOrchid Restaurant, Richmond, and London. As per the outcomes of present investigation,researcher is able to assess role and application of different market research tactics for cateringbusiness as per the long term and shot term business goals (Gustafsson, Herrmann and Huber,2013). It also assists management of a catering organization to assess competitive edge overother companies. This investigation also examines different factors of business expansionprocess through which business entity is able generate appropriate returns by expanding businessin new markets and fields. By considering several elements of market research, cateringorganization can generate appropriate returns through increased growth rate. Background of companyFor completion of several tasks of investigation, Delhi Orchid Restaurant, Richmond,London has been taken as an organization by researcher. It is one of the most popular Indianrestaurant in Richmond, London associated with catering business and offering wide range of6

Indian food services, clearing and other supportive services. It is a new venture of to Richmaondthat serves wide range of authentic Indian cuisine with modern twist. This restaurant is payingmajor attention on the North Indian food (Delhi Orchid, 2015). For managing taste and quality offood, Delhi Orchid has some senior chefs who have experience of several years in Indian cuisineand other food products. Restaurant is having some signatures dishes that provide it competitiveedge over other companies or Indian restaurants such as Orchid Murg Masala, Orchid Mix Non-veg Platter etc. All these Indian foods have managed distinct image of organization in cateringbusiness.Delhi Orchid is located at Patersham Road in Richmond near the River Thames. Thisrestaurant is fully licensed, air-conditioned with efficient workers and having capacity to handleevents within restaurant up to 50 people. It provides a variety of catering services for variousevents. Apart from that growth hospitality sector and increase in demand of catering serviceshave been played important role in emergence of various other organizations associated withfoodservice. This thing has increased competition among companies and other food chains(Delhi Orchid, 2015). Therefore, Delhi Orchid has paid extra attention on Quality and taste ofIndian food. In order to reduce the impact of growing competition, business entity is tried toexpand business new emerging markets with new products and services (Patino, Pitta andQuinones, 2012). In this context, the present investigation is tried to assess role of marketresearch that is considered as a most important segment of business expansion.1.2 Rationale for the studyWhat is the research issue?The research has carried out for examining the role of market research in expanding thecatering business with reference to management practices of Delhi Orchid Restaurant. Thepresent research is tired to assess different elements of market research that assist organization inbusiness expansion in order to handle market competition. This research has paid extra attentionfor application of different tactics of market assessment through which organization associatedwith catering business is able take appropriate strategic business decision related to businessexpansion. Why is it an issue?7

There has been significant changes identified in lifestyle and interest of people in pastfew decades. It has greatly influenced requirement of hospitality services along with role ofcatering business in facilitation of food related to other services (Aaker, Kumar and Day, 2008).In this regard, the present investigation is mainly focused on Indian Cuisine and Indian restaurantTherefore, market research is considered as a great tool to assess needs of consumers and severalfigures associated with present market conditions. It also influences success of cateringorganization along with expansion decisions of management. Therefore, the present investigationis going to analysis importance market research in the process of expansion of catering business.Why is it an issue now?It includes major issue that has been assessed by evaluating the current business practicesof Delhi Orchid Restaurant. On the basis of this, present research has identified that the DelhiOrchid Restaurant is facing tough competition with various new emerging organizations incratering business. In order to handle market competition, business entity wants to expandbusiness in new emerging markets to grow revenue and profit of company. In this process,organization tires to assess wide range of information such as interest of consumers, number ofcompetitors, demand of food services, etc. by conducting detail market research (Teece, 2010).Therefore, the present provides significant information about importance of market assessment toget success in expansion decisions of catering firm. What could this research shed light on?The research has examined different aspects of market research through whichmanagement of Delhi Orchid Restaurant is able to apply different concepts of market research totake strategic decisions for business expansion with an appropriate manner. This investigationalso provides understanding several factors which are required to consider to expand cateringbusiness of Delhi Orchid in new market. This investigation has highlighted the role of marketresearch in growth and development of catering business such as increase profit, revenue,satisfaction of consumers, increase in market share etc.1.3 Research aimThe primary motive of investigation is “To assess the role of market research inexpanding the catering business: A study on Delhi Orchid Restaurant” that assists researcherin scheduling of various activities and objectives of research. 8

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Effect of Employee Motivation on Organizational Performance
|49
|13381
|268

DISSERTATION ACKNOWLEDGEMENT
|60
|18948
|475

Effectiveness of Online Advertising Assignment
|70
|18366
|36

Relevance of Location Based Service for Restaurant Business: A Study on UK
|47
|13542
|1

Impact of Social Media Marketing on Customer Satisfaction in UK Retail Sector: A Study on Morrison Plc
|47
|13638
|438

Challenges Faced by an Entrepreneur on Opening a New Indian Restaurant in UK
|60
|18234
|43