Demand for Restaurants and Determinant Factors
INTRODUCTION
The paper presents an analysis of the different factors influencing the restaurant industry and how these factors increase or decrease the demand for such services. The hypothesis that will be examined is that the performance of restaurants is mostly based on the type of food chosen by customers when they decide to go out for dinner, lunch, breakfast, or simply for a snack. What type of food refers mainly the nationality or concept of the food, (traditional American, Italian, Indian, Latin, or from any other type of culture). This factor is important because when customers go out to for dinner; they decide what to eat before deciding where to eat. That is why this factor is considerably important according to the hypothesis. Depending on the variety of a certain type of restaurant the demand may go up or down.
The restaurant business looks at satisfaction among customers that want to eat food from a very diverse cuisines existing nowadays. A group of factors that will be discussed later on will examine how important these factors are in the business’s demand. Location for example, is very important when the decision of opening a restaurant have come up. Places like a downtown area would be an area of relative importance because of the traffic of customers up and down the streets of a certain city. (http://www.uwex.edu/ces/CCED/downtowns/ltb/lets/0602ltb.html)
Another aspect that might be important is the prediction of the demand for different types of restaurants. Several aspects, for example, should be taken here into consideration when managers and entrepreneurs start working on their annual marketing plans for their restaurants, and how a certain market is for the good performance of these restaurants.
(http://www.globalinsight.com/publicDownload/genericContent/01-27-04_ubs.pdf)
The main source of my research was by giving out a survey to a group of people of different ages and nationalities. In the survey I included several questions that happened
The paper presents an analysis of the different factors influencing the restaurant industry and how these factors increase or decrease the demand for such services. The hypothesis that will be examined is that the performance of restaurants is mostly based on the type of food chosen by customers when they decide to go out for dinner, lunch, breakfast, or simply for a snack. What type of food refers mainly the nationality or concept of the food, (traditional American, Italian, Indian, Latin, or from any other type of culture). This factor is important because when customers go out to for dinner; they decide what to eat before deciding where to eat. That is why this factor is considerably important according to the hypothesis. Depending on the variety of a certain type of restaurant the demand may go up or down.
The restaurant business looks at satisfaction among customers that want to eat food from a very diverse cuisines existing nowadays. A group of factors that will be discussed later on will examine how important these factors are in the business’s demand. Location for example, is very important when the decision of opening a restaurant have come up. Places like a downtown area would be an area of relative importance because of the traffic of customers up and down the streets of a certain city. (http://www.uwex.edu/ces/CCED/downtowns/ltb/lets/0602ltb.html)
Another aspect that might be important is the prediction of the demand for different types of restaurants. Several aspects, for example, should be taken here into consideration when managers and entrepreneurs start working on their annual marketing plans for their restaurants, and how a certain market is for the good performance of these restaurants.
(http://www.globalinsight.com/publicDownload/genericContent/01-27-04_ubs.pdf)
The main source of my research was by giving out a survey to a group of people of different ages and nationalities. In the survey I included several questions that happened
References: Bill Ryan, (June 2000) Evaluating Downtown Restaurant Opportunities. Center for Community Economic Development, University of Wisconsin. Retrieved November 1, 2007 from http://www.uwex.edu/ces/CCED/downtowns/ltb/lets/0602ltb.html David Palmer and David Hackmey, (December 10, 2003). UBS investment Research. Predicting Restaurant Demand. Retrieved November 1, 2007 from http://www.globalinsight.com/publicDownload/genericContent/01-27-04_ubs.pdf Creating a Survey. Customesight. Retrieved on November 6, 2007 from http://www.custominsight.com/tutorial/creating-surveys.asp Julia Hollister, (September 4, 2005). Quality Service Restaurant is Standard Fare for Skilled Servers. Retrieved December 4, 2007 from http://www.jobjournal.com/article_full_text.asp?artid=1511