Management

Please answer all the questions……Lisa inherits a restaurants, “Thai Chili” from her father after he passed away 3 month ago. She had help her father in the restaurant before but never actually manage the restaurant as an owner. Now that she is the sole owner of the restaurant, she is not sure what need to be done. Thai Chili location is one of the main strength to serve people in the Siam Square area closed to BTS station. Other than many office buildings in the area, there are also many condominium buildings as well. The restaurant has high scores from many reviews on taste and service. So far she relies on the existing staff (e.g., manager, chefs, waitstaff, etc.) that had been with the restaurant for a long time. Many of the kitchen staff are considered talented employees that other restaurants do not have. The other strength of the restaurant is its organic ingredients supplier network that her father’s had built. This network provides high quality seasonal authentic ingredients for Thai Chili. Lisa graduated with the degree in Food Science and hoping that her expertise in the sciences of food can help her come up with new menu and cooking techniques for many menu items that can be kept for longer period of time and still taste good. Thai Chili is a restaurant serving authentic Thai foods with some homemade bakery desserts items and gourmet coffee using organic ingredients from different parts of Thailand.Before COVID pandemic, the main groups of customers are foreign tourists and office workers in that area. Because of COVID, the restaurant has been operating with loss for about half a year now. She understands that she need to revise the strategies for her restaurant but not sure what to do. The income from selling food through the delivery service is still not enough to cover the monthly expenses. Looking at the restaurant’s bank accounts, Lisa thinks that she will run out of money to operate the restaurant within 3-6 months.She is seriously considering adjusting her focus to serve more than the office workers in this area, but do not know which of group(s) of customers she should focus on. Her friend who is a consultant recommends that she should do some research and get information about the market to do some analysis before she revise her restaurant‘s strategies.
Assuming you are Lisa’s consultant friend, please help her with the following tasks: 1. Perform three levels of marketing research (including PEST analysis, industry analysis, SWOT and TOWS, product/service analysis, etc.) for Thai Chili to analyze (1) the market in general, (2) the restaurant industry, and (3) the Thai Chili current condition. Explain the types of data that are needed and how to get them.