What is the Business Concept of MR MIKES Steakhouse Casual? Describe a business concept statement.

2. What is the branding strategy?
4. How are the product lines and services used for differentiation and positioning?
6. What is their franchising strategy? How do they ensure Quality and Standardization, the key elements for successful franchising?
8. What the geographic market penetration of the company in Canada?
10. Describe the target market and typical customer profile.
12. Who are the key competitors in Canada and neighboring US states?
14. What are the key challenges or barriers to entry?
16. What is the company's advertising strategy?
18. Which cities in Canada's bordering US states you may consider? Why that market? What market research information support your proposal?
20. Do you have a specific location in mind in the city of your choice? Present the location and recommend why you have chosen that location. Have you considered other locations in this city?
22. What is your investment proposal to the potential investors?
24. Outline the start-up cost for the project.
26. Outline the financial projections for at least 2 years in terms of a projected income statement indicating profit/loss.
28. In your Final Report for MR MIKES, explain the following or help the company to gain insight and understanding to the following:

• Establish the main goal for your project.
• To identify potential markets and marketing opportunities and formulate appropriate business strategy for international market expansion to the United States
• a low-risk method for exploring new market opportunities for their existing products and services,
• understanding customer segments and gaining insights into consumer behavior and buyer decision criteria,
• required standards of customer service,
• knowing your competition and their product portfolio in the foreign market,
• obtain fully costed market research for new foreign market opportunities,
• identify if there is a need for product adaptation for the local market and the associated strategies,
• get ideas on product, process, and service innovation to develop your marketing mix for the foreign market,
• compare various modes of market entry,
• understand the supply chain flow from upstream to downstream with proposed key players for new market entry.

1. Your project can include but is not limited to:

• Innovating an existing product or product line to reach a new international target market.
• Target market screening.
• Outlining a clear and unique value proposition to the target market.
• Developing the customer persona using customer zoom tools, problem and solution zoom tools, and empathy interview techniques to gain deeper insights into consumer behavior.
• Identifying which international market to enter (including a market entry strategy)
• Outlining how to enter an international market (including identification of key risks, estimated costs, and launch strategies).
• Providing tactical or operational recommendations for a defined market entry/expansion strategy (i.e., networking management strategies, cultural norms, and laws/regulations).
• Identifying potential international partners for international expansion, 1and providing a brief strategic overview.
• Preparation of a business model canvas or lean canvas for proposed market entry and presentation plan for investors.
• Detailed analysis of start-up cost or project cost.
• Preparation of key financial projections with their associated statements.