Analyzing Consumer Preferences in Fusion Cuisine Restaurants

The objective of this research is to assess consumer experiences and preferences in fusion cuisine restaurants, specifically focusing on a case study involving a Filipino-themed eatery. Through structured survey questions, the study seeks to understand various aspects including food quality, any missing elements in the menu, customer opinions on cultural culinary integration, typical spending patterns for beverages and meals, preferred payment methods, and additional suggestions or feedback from patrons. This analysis will provide valuable insights into consumer behavior and satisfaction levels, offering potential strategies for enhancing dining experiences and business operations within the fusion cuisine market.

Business development

Contents
Topic-: A business development proposal to set up a Philippine restaurant in Dhaka, Bangladesh...................................................................................5
Chapter -01..........................................................................................................................................................................................................................5
1.0 Introduction/Executive Summary..............................................................................................................................................................................5
1.1 Terms of reference.....................................................................................................................................................................................................5
1.2 Talk about the industry..............................................................................................................................................................................................5
1.3 Explaining the benefits of opening a new restaurant in Bangladesh.........................................................................................................................6
1.4 Concept and models which will be use......................................................................................................................................................................6
1.5 Research questions.....................................................................................................................................................................................................7
1.6 Research Objectives...................................................................................................................................................................................................7
1.7 Assumption................................................................................................................................................................................................................8
1.8 Time scales................................................................................................................................................................................................................8
Literature Review................................................................................................................................................................................................................9
2.1 Overview of the Business..........................................................................................................................................................................................9
2.2 The concept statement...............................................................................................................................................................................................9
2.2.1 The Product/Service..........................................................................................................................................................................................10
2.2.2 The Segmentation, Target Market and Positioning..........................................................................................................................................11
2.2.3 Value Added Features.......................................................................................................................................................................................12
2.2.4 Perceptual Mapping..........................................................................................................................................................................................13
2.2.5 Marketing Mix..................................................................................................................................................................................................13

2.2.6 Those Involved.................................................................................................................................................................................................15
2.2.7 The Window of Opportunity............................................................................................................................................................................16
3. Research Methodology..................................................................................................................................................................................................30
3.1 Research Philosophy................................................................................................................................................................................................30
3.2 The research approach.............................................................................................................................................................................................30
3.3 The research strategy...............................................................................................................................................................................................32
3.4 The research methods..............................................................................................................................................................................................32
4. Data Analysis and the business model...........................................................................................................................................................................35
4.1 Market attractiveness using survey questionnaires..................................................................................................................................................35
4.2 Strategic analysis.....................................................................................................................................................................................................35
4.2.1 SWOT...............................................................................................................................................................................................................37
4.2.2 ANSOFF...........................................................................................................................................................................................................38
4.2.3 Value Chain Analysis.......................................................................................................................................................................................38
4.2.4 Porter’s five force model..................................................................................................................................................................................39
4.2.5 VRIO Analysis..................................................................................................................................................................................................40
4.2.6 BCG Matrix......................................................................................................................................................................................................41
4.2.7 Balanced Scorecard..........................................................................................................................................................................................42
4.3 Business canvas model............................................................................................................................................................................................43
5. The business plan for a new business............................................................................................................................................................................45
5.1 Explain about the industry you choose....................................................................................................................................................................45

5.2 Population base........................................................................................................................................................................................................45
5.3 Break even analysis.................................................................................................................................................................................................45
5.4 VMO (Create new logo)..........................................................................................................................................................................................46
5.4.1 VMO.................................................................................................................................................................................................................46
5.4.2 Logo..................................................................................................................................................................................................................47
5.4.3 Slogan...............................................................................................................................................................................................................47
5.4.4 Marketing budget..............................................................................................................................................................................................47
5.4.5 More business objectives..................................................................................................................................................................................48
5.5 Operational plan.......................................................................................................................................................................................................48
5.6 Development plan for 3yrs......................................................................................................................................................................................49
5.7 Risk assessment.......................................................................................................................................................................................................49
5.8 Business sustainability (Critical success factors)....................................................................................................................................................49
5.9 Implementation plan................................................................................................................................................................................................50
5.10 Performance management – KPI...........................................................................................................................................................................50
5.11 Financial analysis...................................................................................................................................................................................................51
References..........................................................................................................................................................................................................................53
Appendix............................................................................................................................................................................................................................57

Topic-: A business development proposal to set up a Philippine restaurant in Dhaka, Bangladesh
Chapter -01
1.0 Introduction/Executive Summary
It is a research proposal of business development developed for the establishment of a new venture as a business entrepreneur. The new business
venture requires developing a business research proposal plan. The business proposal can be understand as a preapproved expression of the overall
vision of the entrepreneurial activity in context with the strategies and operations of the proposed business venture. The purpose of developing a
detailed business development plan is to offset the various costs and expenditures. The business plan helps the top executives and the management
for enabling the organisation to thing and consider about the business in an in-depth manner for the aim of communicating the business objectives
and have a strong base for decision making as well as to have smooth business functioning. For having an effective execution and implementation of
the business development plan there is a need to have a correct business proposal. The main objective of this proposal is to highlight the key concepts
and aspects in context with the opening of a multi-cuisine Philippine restaurant in Uttara, Dhaka, Bangladesh. It is a new business venture which will
completely be based upon an entire unique concept for Bangladesh.
1.1 Terms of reference
The key idea behind developing a business development plan and business proposal is to tapped by the proficiency and advice of the accountants,
marketing managers, consultants and professionals so that there can be successful execution and there can be gained successful results of the new
business venture. The key idea behind opening a new venture or a Philippines restaurant in Bangladesh is that it is booming as one of the recognized
tourist destinations in past few years due to its continuously rising historical and geographical significance.
1.2 Talk about the industry
The one of the industries which has gained enormous success, growth and boom is the hospitality industry. There has been a significant rise in the
number of restaurants, hotels and other hospitality services in last few decades. The one key reason behind the growth of this industry is the
increasing rate of tourism as well as changing needs and preferences of the masses (Kandampully, Zhang and Bilgihan, 2015). In last few decades,

people have been more connected with outside food on various occasions as well as on various bother days instead of preferring food at home.
Therefore, the increasing purchasing power and changing preferences of the individuals have resulted in the growth of hospitality industry and so the
business opportunities for the entrepreneurs.
1.3 Explaining the benefits of opening a new restaurant in Bangladesh
There are several benefits of opening a new restaurant in Bangladesh such as continuously growing hospitality industry, increased demand for good
restaurants and changing tastes and preferences of the masses. The one key benefits of opening a new restaurant in the nation is the increasing rate of
tourism in nations but majorly for the purpose of business meeting and there are growing efforts of the Government to develop the place as one of the
major tourist destinations with its decorated and heritage views comprising forts, palaces, mosques, tombs and gardens (Latif, et al., 2015). And there
is a growing opportunity for the various entrepreneurs to have new business venture of hotels and restaurants serving the needs of the masses as well
as the tourists with delicious Philippines food comprising of a number of sea food. The location Uttara in Dhaka, Bangladesh is considered as one of
the best place to open a restaurant. The restaurant will serve high quality of Philippines food and famous dishes as well as separate area for family
dining as well as business meetings. The menu will comprises of Mechado, Lumpia, Lechon, Kaldereta, Adobo, Kare-kare and many more other
famous dishes of Philippines. It is beneficial for opening the restaurant and serving all such dishes as people are fond of sea food and there is a higher
probability of success by fetching the attention of the customers (Arif, Noor-E-Jannat and Anwar, 2016).
1.4 Concept and models which will be use
In the business development and the research there will be used a number of models and concepts which will help in effective research analysis and
successful execution of the business plan. There will be used of the following models and concepts:
 SWOT Analysis
The first model that will be used is SWOT analysis. The reason behind taking use of this model is to analyse the internal strengths and
weaknesses of the new venture and the external opportunities and threats in the new market place. This will provide an overview to the
company to have appropriate strategies to take use of strengths to get benefitted from the opportunities as well as to overcome the weaknesses
and save the venture from external threats.
 Marketing mix

The second concept that will be used is the marketing mix technique. The reason behind taking sue of this model is to have a proper
understanding of the 7Ps of marketing as it is one of the key aspect in any new business venture so that there can be framed appropriate
strategies in respect with all the 7Ps and have a successful marketing of the new venture (Hollensen, 2015).
 STP
The third key concept that will be used is the STP approach. The reason behind the selection for this concept is to have proper market
segmentation on the basis of various dimensions such as demographic, geographic, behavioural etc. The STP helps in effective targeting of
the key target market and to have sound positioning in the selected market for gaining a strong market share and increased customer base.
 Ansoff Matrix
The fourth model or the concept is the Ansoff Matrix. The key reason behind taking use of this model in the research is to have appropriate
and sound strategies for market development, diversification, market penetration and product development. There is an essential need to have
an improved understanding of all these aspects to have increased customer base through continuous development in the products and the
strategies. This will help the new venture to attain future growth and success through implementation of effective strategies (Baker, 2014).
1.5 Research questions
 What are the challenges for opening this type of business?
 What are the key opportunities for success of a new restaurant in Bangladesh?
 Will a Philippines restaurant will be successful in gathering the attention of the masses?
 What are the opportunities of success and growth in Bangladesh for hospitality sector?
1.6 Research Objectives
The main aim and objective of the study is to have a successful business venture of a new restaurant in Bangladesh. The following are the various
research objectives of the study:
 To have a better satisfaction of the needs of the customers by serving them with quality food
 To have increased revenues and significant global expansion
 To have lowered cost of labour with minimum expenses
 To have increased revenues and profits in the next three years

 To have strong market share and customer base
 To attract the domestic masses as well as the tourist with some unique kind of experiences of food and visit.
1.7 Assumption
There are number of expectations from the new business venture which are basically the assumptions of the business plan. the first and the key
assumption is to serve the masses with a different type of food i.e. the Philippines dishes as the people will like the dishes as they are more in a habit
of having sea food and the Philippines food is basically sea food and the taste and flavours are usually more to have a positive influence over the
customers. The other expectation or assumption is to fetch the attention of the tourists so that they can have their business meeting and visit at the
restaurant for having a unique and satisfactory experience. It is also assumed that the venture will be one of the successful business ventures as it will
not only quality food but will also have a strong customer base in the coming time as it will have more innovative technologies and services to be
offered to the customers for fetching their attention. The next assumption is to increase the revenues and profits with a fast pace in next 2 to 3 years
of the establishment of the venture.
1.8 Time scales
The business plan will be conducted for the first 3 years. There is a time scale for three years as there is a need of adequate time for market research,
services and product development, advertisements and promotions as well as to have a sustainable future in the country. Therefore, a time period of
three years is considered to be sufficient for having good results in terms of customers and profits as well as stability in the markets of Dhaka,
Bangladesh.

Literature Review
2.1 Overview of the Business
The new venture is in respect with the new established Philippines restaurant in Dhaka, Bangladesh. The venture or the business is of huge
significance as it is based on a mixture of culture and cuisine of two diverse nations. The food of Bangladesh and Philippines is somewhat similar as
both of them have a major common factor i.e. love for sea food. This is one of the key reasons behind the opening of a Philippines restaurant in
Bangladesh. There are various other factors which are also major aspects behind the establishment of the venture i.e. in present time, there are
number of development taking place in Bangladesh and primarily in Dhaka from the tourism perspective which is increasing the number of foreign
tourists. Thus, to attract those customers and gain huge recognition, the venture is planned and will be established.
2.2 The concept statement
The concept statement of the business outlines the key purpose and aim of the business and what particularly the business will perform in order to
offer high value to the customers. It will give a base for all the further activities to be conducted for the business and is considered as a vital artifact
for the business plan. The concept statement will highlight the business idea, vision and mission statement of the business plan.
Business Idea
The business proposal is regarding the establishment of a new Philippines restaurant in Bangladesh.
Mission
The mission of the restaurant is to provide delicious and appetizing food and beverages to the domestic people as well as the tourists which came
from different regions of the world. The mission is that the food and the beverages must meet the standards of the original Philippines food, the
quality, taste and the freshness and must be offered with a level of creativity and uniqueness. It aims at providing the customers with the remarkable
services by the means of high level of professionalism, acquaintance, effectiveness, civility and warmth. It is also one of the aims of the restaurant to
offer a cooperative and rewarding environment to the employees so that they can be retained for a longer time period and support the growth of the
restaurant.

Vision
The vision of the restaurant is to have a successful establishment in Bangladesh and became of the first choice of the customers including the
domestic as well as the tourists for quality Philippines food and beverages.
2.2.1 The Product/Service
The restaurant is a Philippines restaurant which will be offering a number of Philippines dishes, food varieties and beverages and also providing a
strong cultural ambience similar to Philippines restaurants. The menu will have a number of most popular food items of Philippines including
Mechado, Lumpia, Lechon, Kaldereta, Adobo, Kare-kare and many more other famous dishes of Philippines. There will also be a number of seafood
dishes as it is holds huge importance in the Bengali cuisine (DENMARK, 2015). There will be dishes such as squab, chicken, vension, etc. but with a
Philippians’ taste and customary cooking. The huge menu will also need good chefs so there will be recruitment of chefs who specially have a deep
understanding of the Philippines food as well as also have a knowledge of the taste of the people of Bangladesh so that there can be used ingredients
as per the cuisine and the customers may feel satisfied. All the food products will be of premium quality as well as fresh and will also prepare with
utmost care and compassion (Besa and Dorotan, 2014).
There will also be available wine and other various drinks along with the multiple food options. All the drinks will be modest and will be especially
from Philippines only. There will also be offered a moderate international selection of beer to attract the foreign customers or the tourists. The quite
place with good lit features of the bar in the restaurant will be a complete assortment of the luxury and finest. There will also be available homemade
Philippians’ digestives and aperitifs and scotches. In the summer season, the customers will be offered with a choice to have outside sitting as well as
garden sitting arrangements so that the customers can enjoy the seasons, special menus and drinks. At the terrace area, there will be also performed a
number of cultural activities of Philippines at evening and night time for offering a complete sense of Philippians culture as well as to attract the
tourists (Dhaugoda and Dang, 2015).
The restaurant will remain open be seven days a week. The interior and the ambience of the restaurant will be based on Philippians culture and
theme. When the customers will come at the restaurant there will be a welcome through a piece of Philippians music comprising of various genres
and styles such as glass and rock music as well as with a mixture of indigenous, American, Spanish and Asian influences (Kim, 2014). In different to
many other restaurants, the new restaurant will have excellent menu as well as ambience to attract both the domestic as well as the foreign customers.

The services which will be offering at the restaurant will have high standards, quick with affability and warmth hospitality ( Yanagida, 2016). The
customers will be overwhelmed with ambience, hospitality and value which will be offering to them. For developing a sense of satisfaction and
assurance in regards with value there will be a level of consistency which will be maintained in the quality of the products and the services. There
will also be offered customized and special services to the customers if they will be booking a party in the evening or some event requiring tailored
services. All such products and services are the key ingredients or factors which will help the restaurant gaining an increased number of reliable
customers which will prefer visiting the restaurant again and again (Vu, 2013).
2.2.2 The Segmentation, Target Market and Positioning
Segmentation
The total customer of the newly established restaurant has been divided in two different segments i.e. demographic and behavioural segmentation.
Demographic Segmentation: As per the population of Bangladesh, there are high income diversities among the individuals. The age group i.e. 25 to
39 are the biggest group or the main age group that have highest purchasing power. Moreover, there are low income levels of the domestic people
from the overall analysis. So the primary segmentation will be of the basis of age factor and considering the potential customer group of the age 25-
39. There will also be consider the segmentation on the basis of income level as the restaurant primarily serves the cuisine which is of a bit high
range and people who have good purchasing power can afford it. From the perspective of tourist customers, the location selected is also one of the
best locations of Dhaka so that more tourist groups can be attracted to become the potential customers (Bowie, et al., 2016).
Behavioural Segmentation: The customers are also segmented on the basis of behavioural segmentation which comprises of a number of factors such
as the key behavioural aspect is that the customers who prefer new taste and different flavours other than the regular food. These are the most
potential customers as the restaurant will offer Philippians cuisine. The customers are also segmented on the loyalty aspect of behavioural
segmentation as there are customers who are loyal and remain reliable to a place or a service by visiting a similar restaurant. Thus, there will be
offering food in aspect with having potential and loyal customers (Rogers and Davidson, 2015).
Targeting
The target customers of the restaurant comprises of secondary and primary.

Primary target: The primary target is in context with demographic segmentation. There will be both women and men as the target customers which
will be of age group 25 to 39 as it is largest percentage of the individuals which have a good spending power. As well as, the individuals under this
age group also comprises of the upper class employees so they are also the target customers of the newly established restaurant (Andaleeb, 2016).
The new restaurant also focuses on the customers who are married as well as single as there are special arrangements and preparation done for dinner
dates as well as for celebrating some special events. And owing to the employees of these age group, these people are more willing to spend money
over good ambience, meal and quality experience with great value. The new restaurant will offer services by perceiving the requirements of the
customers so that there can be improvement in the services (Canha, 2015).
Secondary target: the secondary target is in context with the behavioral segmentation. The secondary target customers are those who are walk-in
customers that means out of them the maximum are the first time user only or those who rarely visit the restaurant. Such type of customers visits the
place by walking nearby and wish to visit the restaurant by analyzing that how much busy the restaurant is or how many customers are there at that
point of time. (Qi, 2015). As well as the second point of attraction is the Philippians decoration which is a fascinating point for the customers to have
a different or foreign cuisine. The new restaurant is aware of this opportunity that all such customers can be the reliable and loyal customers of the
restaurant in the coming future so there will be slight changes which will be taking place in the restaurant occasionally (Schlegelmilch, 2016).
Positioning
The new restaurant is positioned in the medium to high range segment in the hospitality market which is based on the average of the prices of the
main course dishes. But from the quality perspective, the restaurant is position as the premium quality serving restaurant (Wirtz and Lovelock, 2016).
There are a number of restaurants which already exists and have a recognized presence but there is a competitive advantage with the new restaurant is
it offers a different taste and something innovative to the customers i.e. Philippians food and cuisine which is the key aspect for attracting the
customers (Hair, 2015).
2.2.3 Value Added Features
The value added features of the new restaurant which will not only help in fetching the attention of the customers but also add value and recognition
to the restaurant comprises of few features such as there will be a special kid playing zone where the kids can enjoy so that the couples and the
families can have a better experience. The other value added features is that there will be separate areas for meetings and conferences so that the