Below are examples of secondary research:
- News reports- newspapers produce country and industry reports on a regular basis as well as having articles about products, markets and consumer trends.
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Trade journals- These are magazines which are aimed at certain industry sectors, such as marketing week. They can contain useful industry information in terms of buying trends and new technical development.
- Government statistics- These are principally supplied by national statistics, Euro stat (the statistical office of European Union) and the OECD (organisation for economic co-operation and development).
Marketing Research For McDonalds: The approach which McDonalds chooses for their marketing research that I have chosen which links with McDonalds are-
- Observations
- Experimentation
- Surveys
Observations: McDonalds release new types of meals and aim to figure out if the product is selling, if so then they will consider putting it on their menu.
Experimentation: McDonalds have experimented on their “fillet ‘O’ fish” burgers which usually sell for around £2.30p for one. Since they have released the three burgers for £3.00 it has been selling more.
Surveys: In some McDonalds they put a questionnaire in the food tray to fill out after you have eaten the meal. This questionnaire asks about the customer service, cleanliness and food hygiene in the restaurant. This can be used for future improvements of the restaurants.
Marketing Information Gained From Marketing Research: The information that’s gained from marketing research will inform them about their competitors. Information gained such as planning strategies, pricing strategies and economy.
The customers
The information from McDonalds when marketing research carried out shows:
Competitors: Carrying this type of research McDonalds the financial state of their customers.
New Products: McDonalds can trial out new products on their customers considering if they are happy with these new products.
Pricing Strategies: McDonalds can survey their customers regarding their pricing if they are too high or just right.
Promotions: McDonalds can consider whether their happy meals have the suitable and fun toys or are they lacking in child enjoyment.
How Marketing Information is used in McDonalds: In this global economy crisis they must avoid expanding their businesses, shut down stores lacking in making profit and avoid spending excess funds. Marketing information obtained through research is used by McDonald to help them identify how to move businesses forward with better planning and strategies that suits their business, it helps them to come up with a fast solution if products need to be improved, redesigned and quality checked. As a fast food retailer McDonald produce most of it’s food unhealthy which leads young generation to obesity so therefore they will be thinking of producing healthy food, for example ‘Pasta Hut’ which generally known as ‘Pizza Hut’. This promotes healthy eating as pasta is a healthy dish.
On of the most important thing that marketing will help is by identifying anything that is lacking in McDonald’s, for most people it is customer conveniences because McDonald don’t do home delivery, as some customers prefer home delivery so therefore they will be thinking of home delivery.
Marketing research will help them decide what sort of price suits their customers which will help them to decide the suitable price and also competitors could be used by to revise their pricing strategies which will give them clear idea of taking next step forward. Through marketing research they will decide if there is any necessary product that needs to be launched if their competitors have launched new product. This will give them information if the competitors’ products have been successful or not if they have then they must launch new products.
Marketing research will help them analyse consumer’s lifestyle for example if consumers are moving towards healthy life style, then obviously they would not prefer fast food which leads to obesity, instead they would prefer place like ‘Pasta Hut’ which will cause loss to their income.
Marketing research will inform them about the current dark economic forecast for example ‘Recession’ and ‘credit crunch’ which is the cause of bankrupting Business like ‘Woolworth’ and many other stores so therefore marketing research can be used to decide if some restaurant needs to be closed if satisfactory profit is not gained and to avoid unnecessary Business expansion that will cause long term financial difficulties.
Conclusion: From this assignment I have learned about the marketing research and how organisations use this as a means develop their strategies and products. I have done this to the best of my ability and knowledge.
