5 Aug 2022

190

Recommendations to Help Achieve New Revenue Opportunity

Format: MLA

Academic level: University

Paper type: Critical Thinking

Words: 513

Pages: 2

Downloads: 0

Current Demands Pattern 

According to the dataset provided, New York City made the highest total Week 4 sales worth $652,262, followed by Washington, DC, Boston, Los Angeles, Philadelphia, and San Francisco with sales worth $221,965, $208,947, $151,253, $67,606, and $61,334 respectively – all amounting to $1,363,367. The high revenue for New York City set it out as the largest market to expand the business and also a point of reference to achieving higher revenues for the other six states. There is undeniably much to learn from the state, given that some cities’ sales have been dwindling. San Francisco’s diminishing returns indicate a vastly untapped market for restaurants and suppliers, both of which must work together to meet the markets’ expectations. Generally, the total demand seems to be increasing from $1,443,925, $1,331,232, and $738,535 in Week 2, Week 3, and Week 4, respectively.

Existing Capacity to Serve New Demand 

The count of the number of times customers attempt to make orders without success indicates that New York City is a crucial hotspot to establish the new demand prospects. The area has the highest number of customer attempts showing 212 for Week 4 and 126 for Week 1. San Francisco, on the other hand, is the city with the least demand; 2 times hitting the set capacity for Week 1 and 27 in Week 4. This data is conclusive that restaurants should concentrate on penetrating the New York City market by investing more human and capital resources in the region. Also, operators should focus on implementing sales promotion measures in regions such as San Francisco to increase sales revenue.

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Customer Feedback 

Overall, New York City received the highest number of complaints from customers: 126, 116, 159, and 137 in Week 1, Week 2, Week 3, and Week 4, respectively. It follows, therefore, that an action plan is needed in this region to see to it that clients are satisfied. Such a plan will include applying measures that will ensure customers’ needs are sufficiently met by looking into the feedback received. It could be argued that such complaints result primarily from the restaurants’ inability to meet the demand in the city, as indicated by the hitting times' data discussed above. There exists a potential increase in the customer base in New York since the 28 stores are still not enough to meet the orders in the region. As the sector’s largest market, the region requires significant attention to ensure that the restaurants maintain the existing customer base.

Market Specific Analysis 

The dataset portrays some notable market characteristics worth elucidating for the betterment of restaurants. Essentially, New York City stands out as a peculiar region among the seven selected cities in the survey. Not only is it the city receiving the highest complaints from customers (total of 538), but also the region generating the highest revenue due to its indisputable demand. Thus, it is advisable to venture more into the 28 stores in the city, while putting in place measures to ensure customer satisfaction is maximized. Even though the city produces the highest number of salad in peak hours, such production can hardly meet the demand sufficiently.

Further, some cities like San Francisco are generating a considerably low revenue, which is potentially resulting from the few numbers of stores in the area. Thus, operators should institute more stores in the area, and the restaurants should ensure that they maintain excellent quality standards. Chicago is no exception as only four stores exist, although the region has an impeccable complains record averaging to 16.02. There is a necessity to establish more stores in such regions.

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Reference

StudyBounty. (2023, September 16). Recommendations to Help Achieve New Revenue Opportunity.
https://studybounty.com/recommendations-to-help-achieve-new-revenue-opportunity-critical-thinking

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