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The Market Research Problem ( Mrp ) Essay

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1. Definition of the research problem
(a). Define the market research problem (MRP)

“To better understand consumer preferences in fast food products and the services provided by Wendy’s and the industry as a whole’”
Components:
1- To understand customer satisfaction with Wendy’s food across different demographic and psychographic segments.
2- To understand to what degree health consciousness has an impact on the fast food market
3- To understand the impact that brand devotion (salience) to any brand has on the fast food industry
(b). Provide a brief justification for your MRP

By analyzing consumer preferences and satisfaction across different areas of fast food and especially those of Wendy’s fast food stores and those in the macro fast food environment and employing proper analysis to gain an in-depth understanding into these trends, will allow for the understanding of trends in the market and to then be able to target weaker areas where Wendy’s might be lacking. The successful application of strategy to this areas could potentially lead to a number of results or a combination of, including an increase in profitability, market share and/or customer satisfaction, among others.
2. Research approach and hypotheses
Research Question 1- Customer Satisfaction & Customer Demographics & Psychographics
RQ Measured by Component Hypotheses Proposed Test
X1- Does gender affect customer satisfaction with Wendy’s services? Independent S2- gender & dependent Q9_39 restaurant rating 1

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