Statistics Executive Summary - Essay Example

Consequently, the small and medium entrepreneurs have to make hard struggle to increase the popularity of their products. The same is applied with the management of the restaurant under study, which aims to launch a comprehensive market research, in the light of which it could devise its strategic plan and implement it in urban and suburban areas. Though the research conducted for the market plan of the restaurant is limited one and discusses only few aspects, yet the given data draws out few aspects of the business plan of the restaurant, which have been analyzed as under: Data Analysis: The given sheet reveals the very fact that the data has been gathered from urban and suburban areas, where the administration aims to improve its already launched food services for the customers.

Column A of the given data shows that one hundred and one locations have been selected for marketing purposes, out of which fifty one locations have been taken from urban areas, while the remaining fifty locations have been preserved for suburban areas for the restaurant under study. Column B shows mixed response from both the given locations regarding the food being offered by the restaurant. According to the given data the food is preferred by the visitors with the mean 19.33 in urban category, while the mean for the suburban category is 20.54. It proves the very reality that food of the restaurant is comparatively more popular among suburban population than the urban population.

Since the main purpose of the people for visiting the restaurants is to get some food in order to satisfy their hunger, they want to go to such a place where there is peace, calm and tranquility as well as the services offered to them are satisfactory ones. The companies, organizations and entrepreneurs have to introduce new and novel services in a situation of perfect competition