Question: You are aware that understanding consumer behaviour is important for any business and apparently even more crucial in the highly competitive food market. Fast food

You are aware that understanding consumer
You are aware that understanding consumer behaviour is important for any business and apparently even more crucial in the highly competitive food market. Fast food restaurants like KFC, McDonald's, Pizza Hut, Domino's pizza, or your favourite fast-food joint have tight operating margins and compete with specialty restaurants like Japanese Ramen @ Menya Miyabi Hokkaido Ramen, Indonesian Cuisine @ Ole-Ole Bali or Hana Dining & Sake Bar. Competition is tough and even a few more customers each day can mean the difference between to stay open or close for many of these businesses. Assumed you are the marketing manager of the 'Sunway Pyramid' exclusive shopping mall in KL where food courts offer a range of fast-food restaurants like the ones mentioned above and specialty restaurants located all throughout the shopping mall. Unfortunately, owners of both types of restaurants are worried about their ability to stay in business. You also want both types of business to stay open and be successful. In response to their concerns, you embark in a marketing research project to understand the business and their problems, consumer behaviour patterns and identify a few products to promote. Question 1) According to what you have learnt in this semester answer the following questions regarding either Meaningful Marketing Metrics and or Marketing Research. Total value of this section is 10 points. a) Name what sort of problems you anticipate finding in each business and explain why you have chosen those problems. In relation to this question, you are requested to name and explain 2 common problems that fast food and specialty restaurants share in this tight economy and name 2 problems that are very distinctive for fast food restaurants and 2 problems for specialty restaurants. b) The data obtained from marketing metrics is always useful before starting a research process. Metrics also help to focus the real problem that exist in a business. In this question you are requested to describe three marketing metrics that fast food restaurants and another three for specialty restaurants can use to measure their business. It is important to mention what problem you are trying to resolve and with what metric

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