RESEARCH METHODOLOGY Case study : Small cafe

SUMMARY

Business ideas can be transformed into viable business idea which can be sold to interested investors, firms and interested parties according to management contract .If business ideas is introduces at right time it can be profitable business. Business ideas are available through different resource and its application can help in failure and success.

Rabin and Ronald have decided to open a small café because, they think that their experience of hospitality will help to succeed. Ronald is keen to start up the business straight away and has already found what he thinks is a good location .Rabin is not sure and wants to spend more time on research. Robin wants to see benefits before investing time.

QUESTION FOR DISCUSSION

 1. EXPLAIN WHY YOU THINK ROBIN AND RONALD SHOULD CONDUCT MARKET RESEARCH BEFORE STARTING UP THEIR BUSINESS. WHAT COULD THEY FIND OUT BY RESEARCHING THEIR MARKET?

Why should they conduct research

 1. EXPLAIN WHY YOU THINK ROBIN AND RONALD SHOULD CONDUCT MARKET RESEARCH BEFORE STARTING UP THEIR BUSINESS. WHAT COULD THEY FIND OUT BY RESEARCHING THEIR MARKET?

With the help of market research they can get information about their customer’s

needs, wants and demand.

The data give them information about the potential customers, such as if they

would purchase their product or service how much they willing to pay for it.

Proper business location for their café by doing market research.

Current market trend and information about competitors.

2. DESCRIBE SOME METHODS THAT RABIN AND RONALD COULD USE TO LEARN MORE ABOUT THEIR POTENTIAL CUSTOMERS, COMPETITOR AND BUSINESS LOCATION.

As Rabin and Ronald starting a new business they should go for exploratory research.

Two type of data sources available for exploratory research.

Primary methods.

Secondary methods.

Primary method :

In primary method they can use observation method and survey method.

Observation Method:

In observation method they can observe customers who visit other café.

Survey Method:

In survey method they do survey of customer with the help of questionnaire which is fill by customers.

2. DESCRIBE SOME METHODS THAT RABIN AND RONALD COULD USE TO LEARN MORE ABOUT THEIR POTENTIAL CUSTOMERS, COMPETITOR AND BUSINESS LOCATION.

In secondary method they use data which is already collected by other research.

Book periodic & other published Material:

With the help of magazine & published material they get information about their

competitors as well as about their industry.

Report and publication from government:

Government source also provide a rules and regulation related to industry. So with

the help of report and publication from government they get idea about their rules and

regulation.

CONCLUSION

THANK YOU