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Identify and gather data on at least two additional variables that you think would be important for Ruths Chris to consider in making an international
- Identify and gather data on at least two additional variables that you think would be important for Ruths Chris to consider in making an international market selection. To determine the best additional variables to consider, please consider the suggestions in the case, information from the Hult and Ghemawat articles, and the research resources explored last class.
- All variables will be on widely different scales and in need of normalization. Design a method to normalize all variables to allow for further analysis.
- Weight your variables based on their level of importance to you as a marketing manager. (The Cavusgil et al. article provides useful insights into variable normalization and weighting).
- By integrating all of your variables, develop an overall market attractiveness score for each of the cities considered by Ruths Chris.
- Sort your table in rank order and transfer the Excel table into Word.
- Spend considerable time making sure that your table is presented in a professional and easy to understand manner. Excel is a great analysis tool, but not a naturally great presentation tool.
- Write a one-page memo to support your recommendation and analysis. Please read the guidelines for writing a memo and writing effectively writing guide to help you write a persuasive memo. The memo should include:
- Highlight recommendation for best cities for Ruths Chris to enter. This exercise is a screening tool to get from many to few, not to select a "winner." Thus, your recommendation should be limited to identifying 2-4 markets that you think Ruth's Chris should investigate further.
- Explain the process of developing your market attractiveness index (assume that Ruth's Chris management are not familiar with this process):
- Why did you select your chosen variables (all variables should be justified)?
- Why did you weight the variables the way you did?
- How did you calculate the market attractiveness index?
F G z GDPCapital MktAttract A E Metro City GDP Meat 1 City Country Population per Capil ConsumpzPop 1,145,000 2 Abu Dhabi UAE 000 $ 155,721 54.00 3 Almaty Kazakhstan 2,460,400 $ 25,852 13.67 4 Bangkok Thailand 15,931,300 $ 19,258 28.90 5 Berlin Germany 5,871,022 $ 48,927 38.67 6 Bogot Colombia 9,800,000 $ 16,316 35.73 7 Bucharest Romania 2,272,163 $ 31,864 67.67 8 Budapest Hungary 2,927,944 $ 33,471 56.40 9 Buenos Aires Argentina 14,122,000 $ 22,369 77.50 10 Cape Town South Africa 3,740,026 $ 15,749 52.20 11 Caracas Venezuela 2.923,959 $ 17,716 51.13 12 Chongqing China 8,165,500 $ 38,650 47.93 13 Delhi India 21,753,486 $ 13,497 5.77 | 14 | Ho Chi Minh City, Vietnam 8,426,100 $ 8,438 43.03 15 Istanbul Turkey 13,520,000 $ 25,791 24.73 16 Kuala Lumpur Malaysia 7,200,000 $ 27,730 47.40 17 Lima Peru 10,750,000 $ 16,419 41.23 18 London United Kingdom 13,879,757 $ 60,210 33.83 19 Madrid Spain 6,378,297 $ 41,124 44.97 20 Manila Philippines 12,877,253 $ 14, 196 29.30 21 Mexico City Mexico 20,999,000 $ 19,347 48.37 22 Montevideo Uruguay 1,947,604 $ 22,592 58.17 23 Moscow Russia 16,170,000 $ 34,218 50.53 24 Nagoya Japan 9,107,414 $ 41,495 30.67 25 Paris France 12,405,426 $ 57,644 51.07 26 Phnom Penh Cambodia 2,234,566 $ 8,364 17.60 27 Prague Czech Republic 1,324,000 $ 67,372 65.30 28 Riyadh Saudi Arabia 5,676,621 $ 54,050 45.30 29 Rome Italy 4,353,775 $ 37,485 43.53 30 Santiago Chile 6,683,852 $ 25,644 63.10 31 So Paulo Brazil 21,090,791 $ 20,412 95.33 32 Seoul South Korea 12,700,000 $ 66,606 48.67 33 Sofia Bulgaria 1,682,340 $ 26,035 64.50 34 Sydney Australia 5,029,768 $ 49,616 79.47 12 532 000 $ 35 Tehran Iran 18.804 39.20 36 Tianjin China 15,469,500 $ 24,047 47.93 37 Vienna Austria 2,600,000 $ 70,654 49.37 38 Warsaw Poland 3,100,844 $ 45,504 68.97 Average 8,655,452 35,762 48 Standard Deviatio 6,088,219.93 26,601.88 18.29 Weight (1.23) (1.02) 1.20 (0.46) 0.19 (1.05) (0.94) 0.90 (0.81) (0.94) (0.08) 2.15 (0.04) 0.80 (0.24) 0.34 0.86 (0.37) 0.69 2.03 (1.10) 123 0.07 0.62 (1.05) (120) (0.49) (0.71) (0.32) 2.04 0.66 (1.15) (0.60) 0.80 1.12 (0.99) (0.91) 4.51 (0.37) (0.62) 0.49 (0.73) (0.15) (0.09) (0.50) (0.75) (0.68) 0.11 (0.84) (1.03) (0.37) (0.30) (0.73) 0.92 0.20 (0.81) (0.62) (0.50) (0.06) 0.22 0.82 (1.03) 1.19 0.69 0.06 (0.38) (0.58) 1.16 (0.37) 0.52 (0.64) (0.44) 131 0.37 0.20 (0.86) 0.74 (0.22) (0.04) (0.82) (0.73) 0.55 (0.79) (0.88) (0.03) 1.40 (0.29) 0.51 (0.25) 0.08 0.87 (0.23) 0.32 1.37 (0.95) 0.91 0.11 0.67 (1.05) (0.61) (0.20) (0.51) (0.34) 1.39 0.79 (0.95) (0.32) 0.44 0.73 (0.42) (0.59) 1.00 0.75 1.00 0.25 F G z GDPCapital MktAttract A E Metro City GDP Meat 1 City Country Population per Capil ConsumpzPop 1,145,000 2 Abu Dhabi UAE 000 $ 155,721 54.00 3 Almaty Kazakhstan 2,460,400 $ 25,852 13.67 4 Bangkok Thailand 15,931,300 $ 19,258 28.90 5 Berlin Germany 5,871,022 $ 48,927 38.67 6 Bogot Colombia 9,800,000 $ 16,316 35.73 7 Bucharest Romania 2,272,163 $ 31,864 67.67 8 Budapest Hungary 2,927,944 $ 33,471 56.40 9 Buenos Aires Argentina 14,122,000 $ 22,369 77.50 10 Cape Town South Africa 3,740,026 $ 15,749 52.20 11 Caracas Venezuela 2.923,959 $ 17,716 51.13 12 Chongqing China 8,165,500 $ 38,650 47.93 13 Delhi India 21,753,486 $ 13,497 5.77 | 14 | Ho Chi Minh City, Vietnam 8,426,100 $ 8,438 43.03 15 Istanbul Turkey 13,520,000 $ 25,791 24.73 16 Kuala Lumpur Malaysia 7,200,000 $ 27,730 47.40 17 Lima Peru 10,750,000 $ 16,419 41.23 18 London United Kingdom 13,879,757 $ 60,210 33.83 19 Madrid Spain 6,378,297 $ 41,124 44.97 20 Manila Philippines 12,877,253 $ 14, 196 29.30 21 Mexico City Mexico 20,999,000 $ 19,347 48.37 22 Montevideo Uruguay 1,947,604 $ 22,592 58.17 23 Moscow Russia 16,170,000 $ 34,218 50.53 24 Nagoya Japan 9,107,414 $ 41,495 30.67 25 Paris France 12,405,426 $ 57,644 51.07 26 Phnom Penh Cambodia 2,234,566 $ 8,364 17.60 27 Prague Czech Republic 1,324,000 $ 67,372 65.30 28 Riyadh Saudi Arabia 5,676,621 $ 54,050 45.30 29 Rome Italy 4,353,775 $ 37,485 43.53 30 Santiago Chile 6,683,852 $ 25,644 63.10 31 So Paulo Brazil 21,090,791 $ 20,412 95.33 32 Seoul South Korea 12,700,000 $ 66,606 48.67 33 Sofia Bulgaria 1,682,340 $ 26,035 64.50 34 Sydney Australia 5,029,768 $ 49,616 79.47 12 532 000 $ 35 Tehran Iran 18.804 39.20 36 Tianjin China 15,469,500 $ 24,047 47.93 37 Vienna Austria 2,600,000 $ 70,654 49.37 38 Warsaw Poland 3,100,844 $ 45,504 68.97 Average 8,655,452 35,762 48 Standard Deviatio 6,088,219.93 26,601.88 18.29 Weight (1.23) (1.02) 1.20 (0.46) 0.19 (1.05) (0.94) 0.90 (0.81) (0.94) (0.08) 2.15 (0.04) 0.80 (0.24) 0.34 0.86 (0.37) 0.69 2.03 (1.10) 123 0.07 0.62 (1.05) (120) (0.49) (0.71) (0.32) 2.04 0.66 (1.15) (0.60) 0.80 1.12 (0.99) (0.91) 4.51 (0.37) (0.62) 0.49 (0.73) (0.15) (0.09) (0.50) (0.75) (0.68) 0.11 (0.84) (1.03) (0.37) (0.30) (0.73) 0.92 0.20 (0.81) (0.62) (0.50) (0.06) 0.22 0.82 (1.03) 1.19 0.69 0.06 (0.38) (0.58) 1.16 (0.37) 0.52 (0.64) (0.44) 131 0.37 0.20 (0.86) 0.74 (0.22) (0.04) (0.82) (0.73) 0.55 (0.79) (0.88) (0.03) 1.40 (0.29) 0.51 (0.25) 0.08 0.87 (0.23) 0.32 1.37 (0.95) 0.91 0.11 0.67 (1.05) (0.61) (0.20) (0.51) (0.34) 1.39 0.79 (0.95) (0.32) 0.44 0.73 (0.42) (0.59) 1.00 0.75 1.00 0.25
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