Factors influencing success of a business: A Business Plan of an Indian Restaurant in Prague

Rikesh Lalubhai Shah

Diplomová práce

Abstract:

The current study aims at determining the viability of specialty restaurants especially Indian restaurants in Prague. The study also attempts to critically analyze behavior of consumers by identifying intrinsic and extrinsic factors which affect their purchase behavior towards restaurants. The current market for operational and upcoming Indian Restaurants is also scrutinized. The study uses descriptive research method where in a combination of qualitative and quantitative research approaches is used. The quantitative research has been conducted by surveying 120 customers of Indian restaurants in Prague using close-ended structured questionnaire. The qualitative research has been conducted by interviewing two restaurateurs operating Indian restaurants in Prague using an open-ended questionnaire. The study found that there are four extrinsic factors impacting customer purchase decisions in restaurants, social, cultural, personal and restaurant specific. Also, there are three intrinsic factors affecting their purchase decisions, namely, perception, motivation and attitude. The study also found that there are various challenges faced by restaurateurs in making their restaurants successful. They employ strategies like use of new and innovative recipes, enhanced flexibility and adaptivity.The study recommends that restaurants should keep improving their food presentation, food and service quality, ambience and environment in the restaurant. Also, the restaurants should aim at providing their customers with an overall pleasant and fun experience wherein they are able to enjoy their time with friends and family with the right combination of privacy and staff friendliness. It is also recommended that customer perceptions regarding organic food, different cuisines, new innovative recipes and food presentation are taken into due consideration before implementing any new strategies in the restaurant.Finally, also demographic and spatial factors are analyzed in the thesis so that potential customers are stratified according to their income, gender, education and spatial distribution of currently; in Prague operating restaurants, is provided.

Keywords

Indian, food, Prague

Jazyk práce: angličtina

Datum vytvoření / odevzdání či podání práce: 8. 4. 2016

Obhajoba závěrečné práce

• Vedoucí: Ing. Petr Procházka, MSc Ph.D.

Česká zemědělská univerzita v Praze

Provozně ekonomická fakulta

Magisterský studijní program / obor:
Economics Policy and Administration / Business Administration