Market Research Survey

http://www.kwiksurveys.com/?s=OIJENO_104eeada

The purpose of this survery is get information on what people want from my resturant. I will look over this information thouroughly to see what my customers look for at my resturant. I will improve based on this information. So please take my survery and answer accordingly.

The role of market research is to find out who are your customers and what your customers want. When your doing your customers research you can record things that you see or hear from other people. If your running a electronics business you don't want to stock up on what people don't buy at all because they would have no reason to come to your store. Or if you hear people come up to the desk asking if you have a certain product but you don't have it in supply and its at a high demand then maybe you should order more of that item and cut down on some other item that is not selling atlot at that moment. Another example where market research would come in is what times your customers like to shop. You may want to have certain deals on certain days and maybe more customers will come on that particular day. Almost all aspects on what is sold in a store or resturant is based off the companys market research.

Chapter 3 Reflection

What I learned in this chapter is more things about being an entrepreneur. Ive learned that you don't need to start your own business to be an entrepreneur. You can buy franchise's from other company's and run that particular resturant or store. Doing this will be alot easier since the employees are already trained equipment is already there. I've also learned about the different entrepreneurial trends, such as internet, home-based. Some of the other things Ive leraned from this chapter is about Mc Donalds. Ive discovered that Ray Kroc bought Mc Donalds from the McDonalds brothers for $2.7mil. When he bought them out Mc Donalds blew up they had 800+ stores around that time, today their are more than 30,000 resturants serving 50 million people in 119 countries. I also leraned about how people buy the franchises and whats their roles after they buy the franchise.

http://www.bloomberg.com/video/74720473/

The video that we watched in class today discussed buying a franchise. It showed us a variety of companies owners that discuss what they did how and they are very succesfull. They also showed us the people that lend franchise's money so that their business can further on. This leese will have to be repaid in time. Some of the other people in this video is Reginald Heard who is the president and CEO of Bankers capital one.

Find a Franchise

The name of the Franchise is Pizza Hut. The people that launched this business were two brothers Frank and Dan Carley borrowed $600 from their mother bought secondary equipment and a small building, and the first pizza hut opened in 1958. This Business was invented because they had an idea of opening a pizza parlor. The services they provide is food, some of the foods they serve is pizza, pasta, and wings. They those this business because their family and them were inspired to open this pizza parlor. Currently to this day their are 11,213 franchises. Pizza hut today is one of the hottest pizza places out their, alot of people prefere them over other pizza companies some do not.