business decision making

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Table of Contents TASK 1 Scenario: 3 TASK 2 8 TASK 3 12 TASK 4 19 References 23 TASK 1 Scenario: You have been approached by London Marketing Research Company Ltd (LMRCL), to conduct a research to open up a new restaurant chain by Commission Restaurateur (CR) the Restaurants and eateries belonging to this group. You have been approached to conduct a thorough research and finally present the details to the group itself. 1.1 Create a plan for the collection of primary and secondary data for a given business decision. They are two types of sources that can be used when conducting a research: Primary and Secondary. Primary sources give first-hand results that are provided by a research or study directed specifically for the case in…show more content…
Out of 200 questions, 100 were unanswered, mostly the e-mail and post questionnaires. This may be because of wrong e-mail addresses, wrong postal addresses. Most of the people did not respond because of time consuming. Out of these 28%, 72 % of questionnaires were fully answered by all the people. Majority of participants were male. 65 male and 35 females participated, 75% were between 18-35 age groups and the rest were between 35-55 age groups. This study shows that mostly males are interested in the eating from takeaways and restaurants. TASK 2 2.1 Draw valid conclusions using representative values (e.g. descriptive statistics) a) As mentioned before, London Marketing Research Company Ltd (LMRCL) has 150 customers. After conducting the survey, the Human Resources Management decided to study the results in a specific way. They are going to separate the results based on the functions: Managers, Executives, and Assistants/other based on their income and spending nature or behaviour. Questions (refer above) Managers Executives Assistance/other Q2 - 80% said 3 years or more 70% said 1 year or less 60% said 2 to 3 years Q3- 90% said Well 60% said NOT Well 70% said EXTREMELY well Q4 - 70% said Good 80% said Unsatisfactory 60% said Best Q5 - 90% said High 80% said Extremely High 70% said Low Q6 - 70 % said Satisfactory 90% said Unsatisfactory 60% said Extremely Unsatisfactory Q7 - 80% said Appreciated
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