I need help with this business question please
Sokol restaurant Sokol is a well-established traditional restaurant in a village in Slovenia. Sokol has a new owner, Andrej Marini. Andrej conducted some market research in order to analyze Sokol's business environment and reached the following conclusions: 0 Sokol has a good market share: last year, it served 12 000 out of the 60 000 meals served in total by all the restaurants in the village 0 Sokol has two target markets: (i) young locals who want to eat out with friends, (ii) tourists who want traditional Slovenian dishes. Andrej has constructed a position map using the two axes of price (cheap or expensive) and styles of food (traditional or modern). The research showed that Sokol is perceived as cheap and traditional. Sokol's three main competitors have the following characteristics: 0 Restaurant A: very expensive and very modern u Restaurant B: cheap and traditional c Restaurant C: cheap and modern. The position map helps Andrej identify a new business opportunity: keeping the same traditional style but changing to a more expensive, exclusive, up-market image. Sokol would target two new market segments: (i) locals for special occasions such as family celebrations, (ii) tourists who are prepared to pay higher-than-average prices. Andrej has three options: 1. To set up a joint venture with a five-star hotel that is to open in the nearby village. 2. To set up a strategic alliance with Restaurant A. The manager of Restaurant A is keen to collaborate in events such as the annual village festival. 3. To merge with Restaurant B, as they are the only two restaurants serving traditional Slovenian dishes. This merger, however, would result in redundancy (lay-off) for some employees, which would create negative publicity in the village. (3) Define the term strategic alliance. [2 marks] (b) Calculate Sokol's market share for the last year. [1 mark] (c) Construct the position map of Sokol before Andrej made any changes to his restaurant. [5 marks] (d) Analyze the usefulness of market segmentation and targeting specific markets for Sokol. [5 marks] (e) Advise Andrej about the most suitable option for Sokol. [7 marks] (f) Identify two examples of secondary research that Sokol might use and to what end. [4 marks]