Statement of the Problem
Pittsburg wishes to carry out the business expansion, and they have targeted Ted’s Hot Dog Restaurant as one of the investments. Currently, the company is the market leader in New York, and Ted’s Hot Dog Restaurant is a restaurant in and around the Buffalo area of New York. Being a market leader in New York, Pittsburg has targeted Ted’s Hot Dog Restaurant as one of their investment opportunities. They have been growing market-wise in the recent past. Therefore, at the moment, the problem is whether they can be able to support financially and structurally the Hot Dog Market.
Methods of inquiry
Depending on the philosophy of the research, one uses the method that is likely to be perceived to be essential and which is easier for a leader to have knowledge of the subject in question. The method taken to carry out this research will be appropriate because there is no research that will have taken place on the same subject there before. Therefore the method will help leaders believe that there is a reality in the research carried out. The positivistic view is appropriate because it will achieve the objectives of the research, whether impartial or not impartial.
In this research, quantitative and qualitative methods of inquiry will be used to determine the outcome of this research. The intention of this research is to identify whether Pittsburg has the capacity to support Ted’s Hot Dog Restaurant. Therefore, perspective in terms of this research will be important as it will clarify the direction the research will take. Therefore, the problem at hand is how the research problem will take for its interpretation and findings in reality. This shows that there is a connection between research methods and the purpose of the research, and this influences the outcome of the research.
The two methods of research that will be adopted in this research are quantitative techniques and qualitative techniques. Quantitative is concerned with the collecting of data and facts for analysis, while the qualitative method is concerned with opinion, perceptions, and attitudes. Qualitative methods consider interviews, observations while quantitative are concerned with collecting data statistically.
Data needed
In order to carry out successive research on the subject, a number of data is needed, and this data is located in the company’s premises as well as the company’s website. The data utilized in this case will include annual sales and operational expenses for the company. This will be available in the annual reports of the company. There will also be data collected specifically to determine the number of customers visiting the hotel.
As stated, the data will be located in the company’s premises, and some of it will be collected from competing restaurants in the same area to determine how the hot dog is doing in their restaurants. This will give the market share for a restaurant operating in the area. We shall also need to know the population targeted around the New York area and those who like taking the hot dog. The research also will consider the purchasing power of the New York people.
Another issue that will come into force is the purchasing power of the residents of New York. This information will be obtained from the weekly journal, by weekly magazines, financial journal, the government census documents, wall street journal, purchasing index, and the performance of the economy of the United States.
Research design and data collection method
The research and design method used in this case will be the use of a case study which is appropriate in such a case.
Research questions
The following questions will guide the researcher throughout the study.
- What was hot dogs’ growth in the New York market area between 2005 and 2007?
- What was the hot dogs’ sales volume in New York in the same period under study?
- What was the net profit for companies dealing with companies for hot dogs in New York:
- What were the advantages of operating a hot dog restaurant in the buffalo area?
- What are the strategies used by companies operating in the New York area?
- What product differentiation and cost leadership strategies are adopted by companies operating in New York?
- What can be said about the present, past, and future market situations of Ted’s hot dog restaurant in terms of growth and market share?
Research hypothesis
The following assumptions will guide my research:
Ted’s hot dog restaurant does not have enough financial resources that will enable them to continue with her operations in the New York area.
Pittsburg has enough financial resources that will enable them to enter the market and improve Ted’s restaurant with product differentiation.
Ted’s hot dog restaurant products are of high standards and quality.
Interview
This will be one of the qualitative methods used, and random sampling will be carried out for the sample of this research. The people who will be interviewed in this case will include customers (patrons) – they will be sampled and interviewed randomly as they patronize the restaurant. A questionnaire will be prepared for some customers, while for others, an observation method will be used. The survey method of a questionnaire will be used in some customers as not all will wish to fill a questionnaire. employees – there will be a questionnaire made for the employees of an organization, their questionnaire will target on the type of service they offer to their customers and at the same time how the service will be improved, the other questionnaire will target the management of the company. Ted’s hot dog restaurant will target them to determine what will be done to improve the services of the company.
The sampled customers will be contacted through observations and the filing of a questionnaire. Employees and the management interview will be a face-to-face interview, and some of them will be required to fill a questionnaire.
Data analysis
Once the research has been carried out, data analysis will be necessary through the use of qualitative and quantitative analysis. A cost-benefit analysis will be carried out to determine how successful a planned action will be. CBA is a relatively simple and widely used technique for deciding whether to make a change. This analysis is adding up the value of the benefits of a course of action and subtracting the costs associated with it. For financial analysis, ratio analysis will be carried out to determine the profitability of the restaurant.
Communication of the research
Once the research has been completed, it will be compiled into a paper stating the purpose of the research, and the purpose of the research is to help Pittsburgh know whether they are able to support Ted’s hot dog restaurant in the New York area. This will be possible after identifying and understanding the New York environment and customer’s needs which requires the continuity of Ted’s hot dog restaurant. The research paper will provide a detailed analysis of other successive hot dogs restaurants in the New York area, their strategies that have made them stable and succeed in the market.
Methodology
Introduction
This chapter includes the procedure to be used by the researcher in collecting data throughout the work to the final stage. These include analyzing data and compiling it. The researcher shows what her particular research will use and how to go about the research until data is ready to be used.
The research design
The researcher involves a survey method that is widely recommended for research projects for educational researches.
Target population
The target population, in this case, will be residents of New York, and the majority of the target population will be customers, employees, and the management of the company. These are the people who have direct contact with the company.
Study Location
The study will be carried out in Ted’s hot dog restaurant situated in the New York buffalo area. New York is the largest city in the world.
Sample and sampling procedures
A preliminary study will be carried out so as to formulate a sampling frame from where a sample will be selected. This will consist of the number of customers who visit the restaurant, the books of account, the website of other restaurants, the reasons why the restaurant is not performing very well. Systematic random sampling will be used to select the sample which will give at least 80% of the population.
Data collection methods
A questionnaire and observation will be used to collect data from respondents. Closed-ended questions, open-ended questions, and matrix questions will be used in data collection.
Data analysis methods
All the data from the research will be analyzed using both qualitative and quantitative methods. The variables under investigation include the number of patrons who patronize the restaurant, and the method of advertisement used by the management will be analyzed using measures of central tendency while the patron’s preferences in the choice of restaurants and their perception will be analyzed qualitatively.
Data presentation
The collected and analyzed information will be presented in the form of tables and graphs. A report will also be formulated for the research problem in question.
Timeline
Task Schedule
The Research Budget
References
Mutai, B (2000) – How to write quality research proposal: a complete and simplified recipe. Thelley Publications.
Mugenda O & Mugenda A (1999)- Research methods-Quantitative and Qualitative approaches. African centre and technology Studies (ACTS), Nairobi.
Ngechu, M. –Understanding the Research Process and Methods. Mary Ngechu, University of Nairobi.
Kathari, C.R. (2003) – Research Methodology Methods and Techniques- Wishwa Prakashan, New Delhi.