The Hobbit's Choice Restaurant Survey Predictive Analysis
Aspiring restaurant owner Jeff Dean was pleased to learn that his dream of opening The Hobbit's Choice could be a reality. Through the research conducted under Cory Rogers's expert supervision and Christine Yu's SPSS analysis, Jeff had a good idea of what features were desired, where it should be located, and even what advertising media to use to promote the new restaurant. He believed he had all the information he needed to obtain the financing necessary to design and build The Hobbit's Choice Restaurant.
Jeff called Cory on Friday morning and said, "Cory, I am very excited about everything your work has found about the good prospects of The Hobbit's Choice Restaurant. I want to set up a meeting with my banker next week to pitch it to him for the funding.
Can you get me the final report by then?" Cory was silent for a moment. Then he said, "Christine is doing the final figures and dressing up the tables so we can paste them into the report document. But I think you have forgotten about the last research objective. We still need to address the target market definition with a final set of analyses. I know Christine just finished some exams at school, and she has been asking if there is any work she can do over the weekend. I'll give her this task. Why don't you plan on coming over at 11 a.m. on Monday?
Christine and I will show you what we have found, and then we can take Christine to lunch for giving up her weekend." Your task in this case is to take Christine's role, use The Hobbit's Choice Restaurant SPSS data set, and perform the proper analysis. You will also need to interpret the findings.
1. What is the demographic target market definition for The Hobbit's Choice Restaurant?
2. What is the restaurant spending behavior target market definition for The Hobbit's Choice Restaurant?
3. Develop a general conceptual model of market segmentation for The Hobbit's Choice Restaurant. Test it using multiple regression analysis and interpret your findings for Jeff Dean.