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
What do you typically order when dining at McDonald’s or Wendy’s? When I am having a meal from either place, my favorite choice is a fried chicken sandwich with lettuce, tomato, bacon and extra mayo. Sometimes, I may make it a combo and enjoy the greasy, salty french fries and an ice cold soft drink. Most of their customers often purchase the unhealthiest options because they feel as if that is what fast food is all about, right? Fortunately, it does not have to be that way. Fast food can be convenient and nutritious. Wendy’s and McDonald’s are both fast food restaurants, so they are alike in many
Expanding a business into Canada is a big step for most companies. Whether this is your first expansion or one of several you’ve completed, you need to conduct extensive market research before you set up shop in the Great White North.
Unlimited, endless, fast food choices, and yet there are two that stand out above the rest. McDonald’s and Burger King are the two biggest burger fast food chains in the world. So let me ask you this, who has a better menu? Who’s Cheaper? And which one is healthier? This debate will once and for all come to an end, once all of these points have been met throughout my paper. McDonald’s vs. Burger King has been a long running argument. You will finally come to realize that McDonald’s is the better choice for you.
The discussion of “ How Major Restaurant Chains Plans Their Menus” describes and offered readers with restaurant chains priorities when it come to planning the menu. The report presents the three major priorities of most fast food restaurants: sales, profitability, and preparation ease; moreover, it explains the view of fast food corporations on the subject of healthy food. The fast food outlets are not willing to replace the more profitable products for less profitable products despite the consumer’s demands and health. In addition, the report demonstrates the parallel relationship between profits and the type of food being served. The source is dependable considering there are multiple authors, whose are experts in the subject, whose wrote
There are a variety of universal lessons that the reader can master. Predominantly, Fast food has changed our nation, in a way that we want convenient, cheap, fast, and appetizing food without caring about the fat aspect. According to the author, "In 1970, Americans spent about $6 billion on fast food; in 2000, they spent more than $110 billion. Americans now spend more money on fast food than on higher education, personal computers, computer software, or new cars. They spend more on fast food than on movies, books, magazines, newspapers, videos, and recorded music—combined." This is an indication that our nation has developed into an inconsiderate nation that doesn't show apprehension towards all the health issues that consumers consider a minor part in our daily lives. Another lesson that is acquired is, "It's not how much you eat, it's what you eat." The author points out that, "At the moment, the nation’s roughly 200,000 fast food restaurants are not subject to any oversight by federal health
This continuous study is a descriptive one, though it encompasses characteristics of the exploratory research. The study will be descriptive to the extent that it creates data structures that describe the existing characteristics of the marketing situation at McDonalds. It will collect data about customer attitudes, purchasing behavior, customer satisfaction, competition and other marketing issues that will allow the decision maker to understand consumer behavior and identify trends that might suggest changes needed in the marketing strategies.
In this assignment I will continue working alongside the local entrepreneur to discovering whether or not there is a market available in order for them to open up an internet cafe. I will be creating a research plan which sets out to investigate whether or not the entrepreneur should set up the business. The research plan will have to consist of objectives and these objectives must be S.M.A.R.T, the research objectives will also have to be based on what I would like to focus on. I must also state the methods which I would chose such as qualitative or quantitative data and so forth. Lastly I must be able to justify as to why I picked my chosen research methods as opposed to other research methods, so I
Use of market research concerning the Yankees organizations’ proposed increase in ticket, concession, and merchandise prices to enable the organization financially to obtain a Major League Baseball (MLB) championship team. An online secondary research resource is selected and applied to the marketing research implementation plan. Additionally, two of the four market research tools previously analyzed will be selected to develop two survey instruments. Recommendations of sampling procedures for implementing the survey instruments are also discussed.
Fast food restaurants have always been extremely successful and are experiencing an increase in popularity in America. The ongoing question all consumers have is which one is the best. Everyone has their opinion on which one they like best, but what about the actual quality and health of the foods served? When one is choosing to eat at one of these restaurants, they may just simply choose one without evaluating things such as food quality, prices, and service experience. Two of these major food chains are Burger King and Wendy’s with Wendy’s placing third out of the most popular food chains in the world behind MacDonald’s and Burger King.
Competitors in the hamburger segment of the fast-food industry employed a number of strategies to prepare for the anticipated decline in hamburger demand. Most diversified their offerings with breakfast and developed new concepts such as drive-through-only units and home delivery. In addition to the anticipated decline in hamburger
According to research, in 2005, Chick-fil-A reported sales of more than $1.975 billion. It is documented that the company had 38 years of consecutive sales increase. The award winning company has been selected 11 times for the “Choice in Chains” Customer Satisfaction award. How Mr. Cathy accomplished this great feat is the task this paper is charged to unveil. Chick fil-A is already doing what it does best, “maintaining a quality product and consistently looking for ways to improve its current menu.” However, working on menu items that are more health friendly would increase sales significantly, now that Americans are becoming more health cautious. By combing great taste with healthy food, Chick fil-A is sure to increase its
and let them relax. The others tended to look for hotels that would let them
and tested by a small part of the total market. The aim of this is
Issue: KidSport Ontario is always exploring new opportunities to raise funds and increase the number of under-resourced children and youth who are able to participate in sport and recreation. The organization has identified the College sector (students, faculty and alumni) as a potential partner to raise additional funds.
When competitors offer a lower price, it will enhance the possibility of the customer changing the purchase behavior (Wathne et al., 2001), and also undermine the consumer’s consumption inertia for the original company. The study found that there are three issues existing in the studies of customer purchasing behavior in the fast food industry: (1) Why can consumers rapidly return in such a short period of time after a fast food industry negative news outbreak, or even not be impacted at all. Therefore, regarding the factors that impact customer loyalty in the fast food industry, in addition to customer satisfaction, are there any other important impact factors? (2) The fast food industry is different from the general food retailer. It has the characteristics of being rapid, convenient, and having a low price; however, the commonly seen customer satisfaction model (e.g. American Customer Satisfaction Index; European Customer