Buddy's Smokin' Bar-B-Que Restaurant Opened in 2014 and Struggled to Build

question 146

Multiple Choice

Buddy's Smokin' Bar-B-Que restaurant opened in 2014 and struggled to build a customer base for lunch, dinner, or event catering options. When the owners were planning the restaurant, they had projected they would sell 60 to 80 lunches daily with an average lunch price of $8.00. They believed that dinner business would be higher and that they would also benefit from their approved liquor license, which could generate between 100 and 120 plates per day at $12 per customer. However, the actual daily lunch and dinner totals were much less and the owners were barely breaking even. They wondered if they should close the business. However, Buddy's restaurant began an aggressive marketing effort, offered lunch and dinner specials, and promoted the restaurant as a family-friendly place where everyone could enjoy fresh, smoked bar-b-que meats. As a result of their marketing efforts, the restaurant is selling out of its product almost daily and has built a takeout business as well. They are selling 100 lunches daily with an average price of $10 and approximately 200 dinner plates at $15. The restaurant is pleased with the revenue stream they're generating from the restaurant and are considering opening a second location or adding space to accommodate more customers at the existing location. Using the data regarding number of plates sold and the average order amount generated, what kind of analysis can the owners of the restaurant perform to assist them in understanding their business opportunities?

• A) sales analysis
• B) cost analysis
• C) advertising analysis
• D) engagement analysis

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Definitions:

Media Today

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Scientific Sources

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Cro-Magnon

An early modern human of the Upper Paleolithic period in Europe, known for their robust physical appearance and for creating significant advancements in tools and art.