Market Research Plan- Resurgence of XYZ Restaurant (Vague)

Research Problem:

In 7 months, XYZ Restaurant (Vague) has lost over 50% of its customers and 70% of its revenue due to
the COVID-19 pandemic. To remain in business, the restaurant will need to repurpose its business
operations, which requires immediate business research.

Research Objectives:

§ Identify a solution to help restaurants increase revenue by at least 70% by analyzing the impact of the
pandemic on customer buying behavior.

Identify and gather information regarding competitors. Develop marketing strategies for attracting lost
and new customers during the COVID pandemic.

To determine whether it would be feasible and what kind of influence it may have on the restaurant.

Research Questions:

In relation to online shopping and delivery services, how have consumer tastes and behaviours altered
since the pandemic's outbreak?

The impact of changing business models on restaurants？

How to boost revenue and attract new clients?

Significance of the Research to the Restaurant:

In addition to providing insights into current market trends and needs in the food industry, the study will
also analyze competitors' business models. This information is critical to identifying potential changes to
XYZ Restaurant's business model that will increase customer engagement and acceptance. Restaurants
may also adjust their menus and price changes based on market information.

Research Team:

Market Research leader, Data Analyst, Business analyst, business consultant.

Data Collection Process:

Primary Data Collection

- Surveys, Interviews with customers

Secondary Data Collection

Collecting data from online sources, the government publishes industry reports, articles.

Analytical Tools:

Microsoft Excel ,Google Analytics,Tableau,SQL

Timeline of the Research Project:

3 weeks for the Research Project

Additional Resources:

https://www.atlassian.com/blog/productivity/how-to-write-smart-goals