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(solution) I need help with #6. I simply have no idea how to do it and its


I need help with #6. I simply have no idea how to do it and its part of a group project.


Case 18
  1. 6)  Theorize/formulate predictive models with the variable ?likely? as the dependent variable to address the following questions and issues. Test the models using multiple regression analysis and interpret your findings.
    1. a)  Whatisthedemographictargetmarketdefinitionforthenewrestaurant?
    2. b)  Whatistherestaurantspendingbehaviortargetmarketdefinitionforthenew restaurant?
    3. c)  Nowuserestaurantfeaturepreferencesfortargetmarketdefinitionforthenew restaurant. Provide a ranking of the features from the best predictor to the least. In other words, tell Jane which feature is most important, second most important etc.


Final Exam Project (Group Project 3)

 

Your client, Ms. Jane Garland, needs your help and guidance on the following issues

 

and questions. Your job is to submit a professionally prepared management report

 

that addresses all of the questions and issues raised below. The report should contain

 

results of appropriate analyses, proper interpretations and recommendations.

 

Remember: you are using sample data and your job is to make inferences and

 

generalizations about the population (Caution: it is okay teams helping other teams

 

for learning purposes, but make sure the work is your team?s own and it is not

 

plagiarized from another source or team. Honesty is vitally important):

 

1) Is preference for simple décor or elegant décor related to age? Explain and

 

provide useful insights on this matter.

 

2) Is preference for waterview related to preferences for menu, décor, and

 

atmosphere related factors? If so, what is the nature of the relationship? What

 

are the implications for your client?

 

3) Is there a significant difference between males and females regarding what they

 

would expect an average evening meal entree item to be priced ? Explain.

 

4) With respect to the restaurant?s décor, is a elegant décor preferred over simple

 

décor? What are the implications? Explain.

 

5) It has been speculated that the potential customers living in different geographic

 

areas identified by zip codes would have different reactions to the prospect of

 

patronizing (as measured by variable ?likely?) a new upscale restaurant. Are these

 

anticipated differences substantiated by the survey? Perform the proper analysis,

 

interpret your findings, and make proper recommendations regarding zip code areas

 

to target for promoting the new restaurant. Which zip code area has the most

 

promising potential customers? Why?

 

6) Theorize/formulate predictive models with the variable ?likely? as the dependent

 

variable to address the following questions and issues. Test the models using

 

multiple regression analysis and interpret your findings.

 

a) What is the demographic target market definition for the new restaurant?

 

b) What is the restaurant spending behavior target market definition for the new

 

restaurant?

 

c) Now use restaurant feature preferences for target market definition for the new

 

restaurant. Provide a ranking of the features from the best predictor to the least.

 

In other words, tell Jane which feature is most important, second most important

 

etc.

 

(Caution: some of these independent variables may not be appropriate or

 

suitable for regression analysis!).

 

1 7) You will notice that in the data file there is a new variable called ?VLpatron?. This

 

categorical scale variable was created by recoding the metric scale variable ?likely?

 

to distinguish ?Probable patrons? for the restaurant (likely to patronize the

 

prospective new restaurant =4 or =5) from ?Not probable patrons? (likely to patronize

 

the prospective new restaurant =1, =2, or =3). If the ?Probable patrons?, who are

 

coded as 1s in VLpatron, constitute the prospective new restaurant?s target market,

 

what is the demographic makeup of this target market? Use the demographics of

 

household income, education level, and gender. This is important information for

 

your client, Jane, so provide clear and concise information she can put to use.

 

8) Is City Magazine a viable advertising medium to use if Jane moves ahead with this

 

restaurant idea? (Hint: Use the variable ?VLpatron? for examining its relations to

 

various potential promotion media). Are there other viable promotion vehicles that

 

Jane should know about? For instance, which section of the newspaper or which

 

newscast she should choose to advertise this new restaurant if it becomes a reality?

 

Conduct appropriate analyses, interpret results and make recommendations.

 

Support your arguments with evidence based on proper analyses.

 

IMPORTANT: For this assignment, the winner projects under ?MARKETING

 

RESEARCH REPORTS: Best Projects Display? module on the course website should

 

be useful in terms of organizing your report and effective presentation. Review Chapter

 

15 for report preparation, but keep in mind this is not a complete research project from

 

A to Z. it is a partial report that addresses some important questions. Make sure to

 

provide all relevant analytical results and outputs (either as technical appendix or

 

within the body of the report). 2

 


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