1. To: Ruth’s Chris
From: Benjamin Blalock Inc.
Subject: Potential Markets
Date: 3/21/2016
A Good Problem
Ruth’s Chris is facing a problem. A problem that many businesses in many industries
hope to one day have, but a problem, none the less. They are wanting to expand but have so
many options to choose from. We are here to help Ruth’s Chris narrow down, and choose, which
three of these options fit them best. We believe that we have the solution to their problem, and
can help their business thrive in a new market.
Markets
Ruth’s Chris has over thirty countries to decide where they would like to open three new
locations. They have decided to choose which countries by measuring four criteria. These criteria
are Beef Consumption, GDP per Capita, Population, and Urbanization. Obviously, there is not
one ideal country that excels in every one of these categories, so what we have decided to do is
use a weighted system, that we feel, matches Ruth’s Chris’ goals. We chose three ideal markets
based off of numerical analysis and quantitative data.
The Weight System
Our weight system is on a 100% scale. Out of the four criteria, we gave each one a set
percentage that reflects how important they are to Ruth’s Chris’ goals. Beef Consumption, GDP
per Capita, Population, and Urbanization are weighted as 50%, 30%, 15%, and 5%, respectively.
We weighted Beef Consumption so highly because how valuable it is when deciding where to
move a steak house. Having high GDP and population means nothing of import if that country
doesn’t eat much beef. GDP is in a close second because, while population is important, how
much money a population has to spend is more important. Population was next, due to the
importance of the number of potential customers. Urbanization is worth the least because we feel
that most of these countries, especially the ideal countries, are developed enough to hold and
maintain Ruth’s Chris’ needs.
The Method
How we weighted each of these categories started on Table 1. First we found the
benchmark, or highest value, in the respective categories for the various countries. Then we used

2. that as a way to compare the other countries and multiplied the percentage by the category’s
value of importance (As shown in Table 3). For example;
In the Beef Consumed (kg) category, we took America (124.8) as our benchmark.
Then we took Argentina (97.6) and divided it by our benchmark
(97.6/124.8=0.78). We then multiplied the result by the category’s value of
importance (0.78*50=39.10). Each country in the Beef Consumed (kg) category
received a score between zero and fifty.
We obtained the scores from every category for every country and added them up (Table 2). This
way each country has a final score (0-100), or total percentage of choice, that reflects the ideal
markets that Ruth’s Chris should enter. Our system found three countries that Ruth’s Chris
would thrive in.
 Ireland-73.98
 Spain-69.45
 Bahamas-67.94
Their scores being the highest three, after the U.S., show that they are the ideal countries that
would help Ruth’s Chris have a profitable venture into new markets.

3. Tables
Table 1
Beef Per Capita Population Urbanization
Country Consumption (kg)(PPP in US$) (1,000s) Rate (%)
Argentina 97.6 $13,100 39,921 90%
Bahamas 123.6 $20,200 303 89%
Belgium 86.1 $31,400 10,379 97%
Brazil 82.4 $8,400 188,078 83%
Chile 66.4 $11,300 16,134 87%
China 52.4 $6,800 1,313,973 39%
Costa Rica 40.4 $11,100 4,075 61%
Czech Rep 77.3 $19,500 10,235 74%
France 101.1 $29,900 60,876 76%
Germany 82.1 $30,400 82,422 88%
Greece 78.7 $22,200 10,688 61%
Hungary 100.7 $16,300 9,981 65%
Ireland 106.3 $41,000 4,062 60%
Israel 97.1 $24,600 6,352 92%
Italy 90.4 $29,200 58,133 67%
Japan 43.9 $31,500 127,463 65%
Kuwait 60.2 $19,200 2,418 96%
Malaysia 50.9 $12,100 24,385 64%
Netherlands 89.3 $30,500 16,491 66%
Panama 54.5 $7,200 3,191 57%
Poland 78.1 $13,300 38,536 62%
Portugal 91.1 $19,300 10,605 55%
Russia 51 $11,100 142,893 73%
Singapore 71.1 $28,100 4,492 100%
South Africa 39 $12,000 44,187 57%
South Korea 48 $20,400 48,846 80%
Spain 118.6 $25,500 40,397 77%
Switzerland 72.9 $32,300 7,523 68%
Turkey 19.3 $8,200 70,413 66%
UAE/Dubai 74.4 $43,400 2,602 85%
U.K. 79.6 $30,300 60,609 89%
United States 124.8 $41,800 298,444 80%
Vietnam 28.6 $2,800 84,402 26%

4. Table 2
Table 3
Beef Per Capita Population Urbanization Total Percentage
Consumption (kg) Out of 50 (PPP in US$) Out of 30 (1,000s) Out of 15 Rate (%) Out of 5 of Choice
Country
Argentina 39.10 9.06 0.46 4.50 53.11
Bahamas 49.52 13.96 0.00 4.45 67.94
Belgium 34.50 21.71 0.12 4.85 61.17
Brazil 33.01 5.81 2.15 4.15 45.12
Chile 26.60 7.81 0.18 4.35 38.95
China 20.99 4.70 15.00 1.95 42.64
Costa Rica 16.19 7.67 0.05 3.05 26.96
Czech Rep 30.97 13.48 0.12 3.70 48.27
France 40.50 20.67 0.69 3.80 65.67
Germany 32.89 21.01 0.94 4.40 59.25
Greece 31.53 15.35 0.12 3.05 50.05
Hungary 40.34 11.27 0.11 3.25 54.98
Ireland 42.59 28.34 0.05 3.00 73.98
Israel 38.90 17.00 0.07 4.60 60.58
Italy 36.22 20.18 0.66 3.35 60.42
Japan 17.59 21.77 1.46 3.25 44.07
Kuwait 24.12 13.27 0.03 4.80 42.22
Malaysia 20.39 8.36 0.28 3.20 32.24
Netherlands 35.78 21.08 0.19 3.30 60.35
Panama 21.83 4.98 0.04 2.85 29.70
Poland 31.29 9.19 0.44 3.10 44.02
Portugal 36.50 13.34 0.12 2.75 52.71
Russia 20.43 7.67 1.63 3.65 33.39
Singapore 28.49 19.42 0.05 5.00 52.96
South Africa 15.63 8.29 0.50 2.85 27.27
South Korea 19.23 14.10 0.56 4.00 37.89
Spain 47.52 17.63 0.46 3.85 69.45
Switzerland 29.21 22.33 0.09 3.40 55.02
Turkey 7.73 5.67 0.80 3.30 17.50
UAE/Dubai 29.81 30.00 0.03 4.25 64.09
U.K. 31.89 20.94 0.69 4.45 57.98
United States 50.00 28.89 3.41 4.00 86.30
Vietnam 11.46 1.94 0.96 1.30 15.66
Beef Per Capita Population Urbanization
Consumption (kg) (PPP in US$) (1,000s) Rate (%)
Value of Importance 50 30 15 5

5. Post assignment notes:
 Noticed that population was skewed heavily, tainting data. Potential solutions to this
problem would be to not include population and adjust urbanization accordingly (giving
it a value of importance of 20%, seen in table 4), valuing the remaining 3 categories
33.33% for an even distribution (table 5), or valuing each category as 25% (table 6)
 Numbers regarding tourism would have been nice, as research shows that Ruth’s Chris
actually went to the Bahamas due to the tourist market.

6. Table 4
Beef Per Capita Urbanization Total Percentage
Consumption (kg) Out of 50 (PPP in US$) Out of 30 Rate (%) Out of 20 of Choice
Country
Argentina 39.10 9.06 18 66.16
Bahamas 49.52 13.96 17.8 81.28
Belgium 34.50 21.71 19.4 75.60
Brazil 33.01 5.81 16.6 55.42
Chile 26.60 7.81 17.4 51.81
China 20.99 4.70 7.8 33.49
Costa Rica 16.19 7.67 12.2 36.06
Czech Rep 30.97 13.48 14.8 59.25
France 40.50 20.67 15.2 76.37
Germany 32.89 21.01 17.6 71.51
Greece 31.53 15.35 12.2 59.08
Hungary 40.34 11.27 13 64.61
Ireland 42.59 28.34 12 82.93
Israel 38.90 17.00 18.4 74.31
Italy 36.22 20.18 13.4 69.80
Japan 17.59 21.77 13 52.36
Kuwait 24.12 13.27 19.2 56.59
Malaysia 20.39 8.36 12.8 41.56
Netherlands 35.78 21.08 13.2 70.06
Panama 21.83 4.98 11.4 38.21
Poland 31.29 9.19 12.4 52.88
Portugal 36.50 13.34 11 60.84
Russia 20.43 7.67 14.6 42.71
Singapore 28.49 19.42 20 67.91
South Africa 15.63 8.29 11.4 35.32
South Korea 19.23 14.10 16 49.33
Spain 47.52 17.63 15.4 80.54
Switzerland 29.21 22.33 13.6 65.13
Turkey 7.73 5.67 13.2 26.60
UAE/Dubai 29.81 30.00 17 76.81
U.K. 31.89 20.94 17.8 70.64
United States 50.00 28.89 16 94.89
Vietnam 11.46 1.94 5.2 18.59

7. Table 5
Beef Per Capita Urbanization Total Percentage
Consumption (kg) Out of33.33 (PPP in US$) Out of 33.33 Rate (%) Out of 33.33 of Choice
Country
Argentina 26.07 10.06 29.997 66.12
Bahamas 33.01 15.51 17.8 66.32
Belgium 22.99 24.11 19.4 66.51
Brazil 22.01 6.45 16.6 45.06
Chile 17.73 8.68 17.4 43.81
China 13.99 5.22 7.8 27.02
Costa Rica 10.79 8.52 12.2 31.51
Czech Rep 20.64 14.98 14.8 50.42
France 27.00 22.96 15.2 65.16
Germany 21.93 23.35 17.6 62.87
Greece 21.02 17.05 12.2 50.27
Hungary 26.89 12.52 13 52.41
Ireland 28.39 31.49 12 71.88
Israel 25.93 18.89 18.4 63.22
Italy 24.14 22.42 13.4 59.97
Japan 11.72 24.19 13 48.92
Kuwait 16.08 14.75 19.2 50.02
Malaysia 13.59 9.29 12.8 35.69
Netherlands 23.85 23.42 13.2 60.47
Panama 14.56 5.53 11.4 31.48
Poland 20.86 10.21 12.4 43.47
Portugal 24.33 14.82 11 50.15
Russia 13.62 8.52 14.6 36.74
Singapore 18.99 21.58 20 60.57
South Africa 10.42 9.22 11.4 31.03
South Korea 12.82 15.67 16 44.49
Spain 31.67 19.58 15.4 66.66
Switzerland 19.47 24.81 13.6 57.87
Turkey 5.15 6.30 13.2 24.65
UAE/Dubai 19.87 33.33 17 70.20
U.K. 21.26 23.27 17.8 62.33
United States 33.33 32.10 16 81.43
Vietnam 7.64 2.15 5.2 14.99

8. Table 6
Beef Per Capita Population Urbanization Total Percentage
Consumption (kg) Out of 25 (PPP in US$) Out of 25 (1,000s) Out of 25 Rate (%) Out of 25 of Choice
Country
Argentina 19.55 7.55 0.76 22.5 50.36
Bahamas 24.76 11.64 0.01 22.25 58.65
Belgium 17.25 18.09 0.20 24.25 59.78
Brazil 16.51 4.84 3.58 20.75 45.67
Chile 13.30 6.51 0.31 21.75 41.87
China 10.50 3.92 25.00 9.75 49.16
Costa Rica 8.09 6.39 0.08 15.25 29.81
Czech Rep 15.48 11.23 0.19 18.5 45.41
France 20.25 17.22 1.16 19 57.63
Germany 16.45 17.51 1.57 22 57.53
Greece 15.77 12.79 0.20 15.25 44.01
Hungary 20.17 9.39 0.19 16.25 46.00
Ireland 21.29 23.62 0.08 15 59.99
Israel 19.45 14.17 0.12 23 56.74
Italy 18.11 16.82 1.11 16.75 52.79
Japan 8.79 18.15 2.43 16.25 45.61
Kuwait 12.06 11.06 0.05 24 47.17
Malaysia 10.20 6.97 0.46 16 33.63
Netherlands 17.89 17.57 0.31 16.5 52.27
Panama 10.92 4.15 0.06 14.25 29.38
Poland 15.65 7.66 0.73 15.5 39.54
Portugal 18.25 11.12 0.20 13.75 43.32
Russia 10.22 6.39 2.72 18.25 37.58
Singapore 14.24 16.19 0.09 25 55.51
South Africa 7.81 6.91 0.84 14.25 29.82
South Korea 9.62 11.75 0.93 20 42.30
Spain 23.76 14.69 0.77 19.25 58.47
Switzerland 14.60 18.61 0.14 17 50.35
Turkey 3.87 4.72 1.34 16.5 26.43
UAE/Dubai 14.90 25.00 0.05 21.25 61.20
U.K. 15.95 17.45 1.15 22.25 56.80
United States 25.00 24.08 5.68 20 74.76
Vietnam 5.73 1.61 1.61 6.5 15.45