Market Analysis for O'Connell's Irish Bar : A Scenario Approach
Rouvinen, Jenni (2013)
Rouvinen, Jenni
Tampereen ammattikorkeakoulu
2013
All rights reserved
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-201305087234
https://urn.fi/URN:NBN:fi:amk-201305087234
Tiivistelmä
This thesis was commissioned by O’Connell’s Irish bar in Tampere. The aim of the paper was to study the present customers and their preferences in regards to O’Connell’s services and the interior of the bar as well as their attitudes towards sports fans. The theoretical framework of the thesis is based on services marketing and it relies on David A. Aaker’s strategic market management, and more precisely, its external analysis part. This part of Aaker’s theory focuses on the customer, competitor, market and environmental analyses. From the results of the study two future scenarios were drawn up.
The study was conducted as a customer survey using a questionnaire. The data was collected during December 2012 at O’Connell’s and it was analysed using Microsoft Excel. The customers were asked a series of questions regarding the service offering of O’Connell’s as well as their attitudes towards the bar and sports’ fans. Furthermore, the respondents were asked to list other places they would be besides O’Connell’s. From the customer responses, competitor analysis was drawn. Data analysis utilises quantitative and qualitative methods as well as observational methods for the competitor analysis.
From the data, the customers were divided into four segments using a customer value formula: [(frequency of going out x amount of money spent per time) x customer loyalty multiplier], in order to find out the most profitable customer segments to O’Connell’s. The survey data was then analysed generally and segment by segment. More emphasis was given to the opinions of the most valuable customer segments.
The results and discussion of the findings were presented as scenarios. This approach was chosen because the changes in the operating environment of the business are not certain. There are plans to build an ice-hockey and event arena with office space and a hotel on top of the railroad tracks right next door from O’Connell’s, but due to the present financial situation, the funding for the project is still uncertain. However, should the arena be build, the effects to restaurants on its vicinity are drastic. This is why scenarios are used in this paper. They allow different options to be discussed and mental preparations to be made before any actions are taken.
The study was conducted as a customer survey using a questionnaire. The data was collected during December 2012 at O’Connell’s and it was analysed using Microsoft Excel. The customers were asked a series of questions regarding the service offering of O’Connell’s as well as their attitudes towards the bar and sports’ fans. Furthermore, the respondents were asked to list other places they would be besides O’Connell’s. From the customer responses, competitor analysis was drawn. Data analysis utilises quantitative and qualitative methods as well as observational methods for the competitor analysis.
From the data, the customers were divided into four segments using a customer value formula: [(frequency of going out x amount of money spent per time) x customer loyalty multiplier], in order to find out the most profitable customer segments to O’Connell’s. The survey data was then analysed generally and segment by segment. More emphasis was given to the opinions of the most valuable customer segments.
The results and discussion of the findings were presented as scenarios. This approach was chosen because the changes in the operating environment of the business are not certain. There are plans to build an ice-hockey and event arena with office space and a hotel on top of the railroad tracks right next door from O’Connell’s, but due to the present financial situation, the funding for the project is still uncertain. However, should the arena be build, the effects to restaurants on its vicinity are drastic. This is why scenarios are used in this paper. They allow different options to be discussed and mental preparations to be made before any actions are taken.