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Retail Management Report - Essay Example

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Retail Management Report [Insert Name] [Insert Course Name] [Insert Institution] [Insert Professor Name] [Insert Date] [Author Note If Any] Introduction A retail business is started primarily to generate profits of course with the risk of running a loss; the objectives of the business can be achieved best by carrying out a retail audit to establish the best way to position the business and utilize available resources for maximum returns say Birn (2004)…
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Retail Management Report

Download file to see previous pages... The growing interest in Chinese and oriental culture including food has spawned a new era of Chinese/ oriental restaurants. China China is a restaurant that wants to offer Chinese cuisine to customers and therefore needs information about the sub industry on a variety of retail aspects. This retail audit will use collected data from a survey on Mandarin restaurant to propose effective marketing methods for China China Chinese restaurant based on the gathered social information. The recommendations will entail decisions on segmentation, location, product ranges, pricing, ambience at the restaurant, customer service, employees, and the necessary work force, a budget, and how the business is sustainable. The recommendations will also cover communications; and thereafter draw a conclusion based on the survey Company background China China is a restaurant business with the intention of establishing in the city of………. The company is entering into a fast growing retail industry of Oriental and Chinese cuisine, which is becoming very popular. The owner of the business is a local with an eye for restaurant investments and no prior experience in Chinese restaurant cuisine. ...
Objectives of the research The aims of this research is to establish the demographic trends for oriental Chinese cuisine customers, the nationalities frequenting these restaurants, the foods these customers prefer, what they spend on an average meal at a Chinese restaurant, frequency of visit to these restaurants, other Chinese restaurants they prefer and their overall satisfaction levels in terms of convenience, location and service. This information will be used to review the strengths of the sector, inherent weaknesses and threats, and how the market is segmented. This information will then be used to make recommendations and conclusions as regards pricing, advertising and promotion, merchandising, customer service, product offering, the sustainability if the business, where it should be located and the best regime for pricing. It will also recommend on what customer segments to target as customers; with justifications based on the research Research methodology The research was approached by utilizing a pragmatic research approach using both quantitative and qualitative techniques. A survey questionnaire was prepared taking into consideration the research objectives and sample size was decided by randomly selecting respondents. Random sampling was used because it gives every potential respondent a chance to be selected and ensures the data collected is not biased and therefore provides information that is fully representative of the population, contends Bradley (2007) The retail audit Market A market is the group of organizations or consumers that are interested in a product, are allowed by law or regulations to acquire the product, and are able to afford the product or ...Download file to see next pagesRead More
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