Research Paper Student`s

Research Paper Student`s

RESEARCH PAPER 1

ResearchPaper:

TableofContents

I. Introduction 2

II. Data collection and observations 2

III. Hypothesis 4

IV. Analysis and conclusion 4

V. Appendices 5

MarketingResearch-Richie’s

  1. Introduction

Richie’sis one of the best places to eat around campus the food is great,and the location is extremely convenient being right on campus.Although the lines are always full, the wait isn’t as bad as itseems because of the amazingly quick staff. Richie’s seems to beone of the most popular places to eat on campus, but there still areopportunities that haven’t been taken advantage of Richie’scustomers seem to be primarily males, on a campus where 52% of thestudents are female, so it is important to find a way to tap intothat large market while retaining the male demographics. Richie’sis also a popular place to eat because of the wide variety of paymentoptions. Richie’s accepts credit/debit cards, diamond dollars, andcash. It seems that majority of customers pay with cash, which slowsdown the fluidity of the line as compared to a debit/credit card ordiamond dollars. Based on what we know so far, we believe that 40% ofRichie’s customers are females and 50% of all customers pay withcash.

  1. Data collection and observations

Todetermine if our predictions were correct, we decided to pick twodifferent days, at two different times, to observe the customers inline at Richies. We wanted to do our first observation on the morningof a regular weekday when Richies was a bit slow, just to get a feelfor the observing environment, and so that we don`t get overwhelmedby the amount of customers. Therefore on Tuesday, September 15th, wearrived at Richie`s around 9 am and began our process by firstintroducing ourselves to Richie, and explaining the details of whatwe will be observing. We then sat at the table directly in front ofRichie’s and began taking note of whether the students in line weremale or female. I was keeping track of the number of males, andZahraa was keeping track of the number of females. Once the customergot to the register, George was standing there to see if thatspecific customer was paying with a credit/debit card, diamonddollars, or cash. We stayed and observed at Richie’s for about 30minutes before we ended the observation and left. The next time weobserved, we wanted to do it on a Friday afternoon so that we couldmaybe gather more data, based on our presumption that there isusually more activity on campus on Fridays. So, September 18th, at 1pm, we again arrived at Richie’s, sat at the same table, andpresumed the same roles as on Tuesday. This time, it was a little bitharder to obtain the results due to the fact that the amount ofpeople at and around Richie`s was much higher than last time, butthat is what we expected. After spending about 45 minutes observing,we ended the observation and finished with much more data, thuscompleting our goal.

# of Customers

% of Customers

Males

24

24/46 = 52%

Females

22

22/46 = 48%

Paid in Cash

23

23/46 = 50%

  1. Hypothesis

Wefound that our hypothesis stating 40% of Richie’s customers werefemale was inaccurate, but instead the percentage we obtained fromour sample size was 48%. However, there is still large room forimprovement in bringing in female customers to bring the ratio closerto even, or even one percent favoring the females. Females arepurchasing products from Richie’s, but the males are still the mainsource of revenue for Richie’s. Altering the menu to cater tofemales a little more may see an increase in female customers. Wewere exact in our hypothesis of payment method, confirming thatapproximately half of the customers pay with cash. This did create aline problem, as Richie did his best to minimize the traffic jam byquickly giving back change. The main concern for Richie’s is to getits food out to the customers quickly, as most customers are inbetween classes or meetings.

  1. Analysis and conclusion

Tocut down on the time Richie’s spends finding and handing backchange, it can unveil one of two suggested promotions. The firstpromotion would be to give a $0.50 discount for those who pay withcredit/debit cards or diamond dollars. Giving up the fifty centswould be a small loss compared to the customers Richie’s would gainwith a shorter line and expected wait time. Another promotionalmethod would be the introduction of the “Richie’s Cash Card”.Customers would be able to load cash onto their “Richie’s Card”online or at Richie’s at selected times throughout the day. Thecash cards will also serve as a rewards program, offering a freebeverage of choice after the card accumulates 40 dollars’ worth ofpurchases from Richie’s. This gives customers an incentive to notonly buy at Richie’s, but also to buy at Richie’s using a methodother than cash. This will allow for Richie’s to minimize theorder-to-wait time, and in turn, bring in anxious customers who havewalked by Richie’s because of the long lines.

  1. Appendices

Appendix1A: Letter of Introduction

Dearrespondent,

Weare students of this university conducting an academic research overthe services at Richie. Our study aims at assessing the impact of thepayment modes to the customer waiting time. The rationale of thisstudy is come up with marketing strategies that will bringimprovement of the services offered at Riche.

Theparticipation is fully voluntary and responses will be confidential.The results will be also reported without compromising the anonymityof respondents. Thestudy involve use filling of a questionnaire which takes two to threeminutes and it will help us to achieve our goal.

Appendix1B: Questionnaire

Pleaserespond to all questions. Indicate your response with a tick (√ )where appropriate

  1. What is your gender? Male[ ]Female [ ]

2. Do youuse Riche service? Yes() No ()

3. Whichmode of payment do you often use?

Credit/debitcards( )Cash( )Diamond dollars ( ) Others ()

4. What isthe average time are you kept waiting in the line?

1-3 Minutes ( ) 4-5 Minutes ( ) 5-6 Minutes ( ) More than 6 minutes ( )

5. How canyou rate the services at Riche?

Overstaffing( ) well-staffed () understaffed ( )

Appendix2: Work plan (Gantt chart)

ACTIVITY

Tuesday 15th

Friday 18th

Satarday

19th

Monday

21st

Tuesday 22nd

Data Collection

Data analysis

Report writing draft

Report writing final