Case Background

Note, this background is the same as the last two assignments.

Background

A local chef with significant industry experience and a business partner with a background in finance and real estate decide to partner to open a new, local restaurant named The Parthenon. They would like to determine the attractiveness of this possible restaurant. The concept is "a fusion Greek restaurant; that is$,$ Greek with a twist." They plan to provide a fresh, fine dining experience that spans across cultures and generations, while giving guests a taste of big city atmosphere all while on the Front Range of Colorado. Their planned entrees include steaks, lamb chops, seafood, a few select pasta dishes, and Greek salads, gyro plates, Greek dips with pita chips, and raw oysters for appetizers. These soon$-$to$-$be restaurant owners would like to know if this restaurant concept will be successful and how the restaurant should be designed and priced. Based on your conversation with these two, your research team develops the following problem statement and research questions.

Research problem and research questions

Problem: Understand whether or not the restaurant will be successful in Colorado and how the restaurant $/$ menu should be designed and promoted

$1.$ Will a sufficient number of people find the restaurant appealing, and will this be associated with them frequenting the restaurant?

$2.$ What should the average price of the entrees, including steaks, lamb chops, and fish, pasta dishes, and appetizers be$?$

$3.$ What is the profile of the target market?

$4.$ What are the best media to use for promotional efforts for the target market?

In Assignment $2,$ you developed a questionnaire for the client. Based on the surveys developed from groups in the class, the following questionnaire was finalized: Restaurant Concept Survey.docxOpen this document with ReadSpeaker docReader Download Restaurant Concept Survey.docxOpen this document with ReadSpeaker docReader. After the questionnaire was finalized, your research team collected data from an online convenience sample of Colorado residents via CloudResearch $($CloudResearch was discussed in class$).$ These data were collected in April $2023,$ and respondents were incentivized to participate with an $$0\mathrm{.}80$ payment. This study resulted in the following dataset: Restaurant Concept.sav Download Restaurant Concept.savOpen this document with ReadSpeaker docReader. In Assignment $3,$ you analyzed these data to address several research questions. Your task is now to answer the remaining third research question $($highlighted above$).$

Instructions and Evaluation

Using SPPS and the dataset for this questionnaire provided on Canvas, answer the following questions.

$1.$ To address this research question, use difference tests to compare differences across demographic variables for intentions to visit. In other words, use either ANOVA or an independent samples t$-$test $($as appropriate$)$ to examine differences in intentions to visit $($use summated score$)$ and appeal across $($a$)$ income, $($b$)$ gender, $($c$)$ education, $($d$)$ vegetarian, and $($e$)$ vegan.

a$.$ First, for each of the grouping variables $($e$.$g$.,$ income, gender$),$ specify the appropriate difference test$--$either independent samples t$-$test or ANOVA. $(1$ point each$).$

b$.$ For each, draft one sentence for intentions and one for appeal $($e$.$g$.,$ To determine the profile of the target market, we examined differences in market segment's intentions to visit...$),$ specifying the statistical test used, means of each group, whether or not the result is statistically significant, and the p$-$value and$/$or t$-$statistic. If ANOVA was needed, include the analyses of the post hoc tests if the ANOVA was significant. $(5$ points each$)$

$2.$ Because age and dining frequency are ratio scales, examine the Pearson correlation between $($a$)$ age and intentions and $($b$)$ dining frequency and intentions. For each, draft one sentence, specifying the statistical test used, the statistical significance of the correlation, and the direction and strength $($only if significant$).(5$ points each$)$

$3.$ Provide a brief $($one paragraph$)$ discussion of these findings, specifying to your client who you believe the target market to be and why. In your discussion, be sure to directly answer the research question using the statistics reported above. For example, see who has the highest intentions to visit and appeal; discuss this. Also, be sure to point out any nonsignificant results. $(10$ points$)$