Marketing Managment
A Case Study of Wendy’s: History and life After Dave Thomas
Executive Summary
Purpose – Wendy’s is looking to increase its market share, possibly to supersede Burger King’s and McDonald’s shares. Targeting this vision the company has to know its customers preferences and the way these affects their buying from a fast-food restaurant (Wendy’s). This report aims to explore how Wendy’s can utilizes marketing research to improve its service & strengthen its brand image ultimately to increase its market share.
Design – The research will capitalize on the strengths of both qualitative research and quantitative research, to examine the effect of: Price, Friendliness of Personnel, Variety of menu, Service speed, calorie content, Business hours, convenience, Delivery service, and Cleanliness on the perceived ”Service quality” and “Brand Image”.
Syndicated data will be used to form the foundation of the questionnaire and support/contrast the hypothesis put in Step: 2 of the research design. While Qualitative research is the form of “Observational Study“ will be conducted to get insight about customers’ reaction toward the factors mentioned earlier. Finally, Quantitative research is the form of “Self-administered Survey” in a “Mall-intercept” context.
Findings & Recommendation – The fast food industry is booming despite the current economic downturn, Wendy’s shouldn’t miss such opportunity by expanding its presence in the market; and perhaps to new market; as well as by introducing new offerings to satisfy it customer/acquire new ones. On the other hand, Wendy’s shall continue to strengthen its brand image and emphasis on the customer’s preferences to form a favorable image that support its business. It is also important to grasp the apparatuses through which brand image impacts consumer buying intention of fast food.
Limitations – Limited number of questions can be asked allowing little for the researched to know about their audience which can be enhanced through
Executive Summary
Purpose – Wendy’s is looking to increase its market share, possibly to supersede Burger King’s and McDonald’s shares. Targeting this vision the company has to know its customers preferences and the way these affects their buying from a fast-food restaurant (Wendy’s). This report aims to explore how Wendy’s can utilizes marketing research to improve its service & strengthen its brand image ultimately to increase its market share.
Design – The research will capitalize on the strengths of both qualitative research and quantitative research, to examine the effect of: Price, Friendliness of Personnel, Variety of menu, Service speed, calorie content, Business hours, convenience, Delivery service, and Cleanliness on the perceived ”Service quality” and “Brand Image”.
Syndicated data will be used to form the foundation of the questionnaire and support/contrast the hypothesis put in Step: 2 of the research design. While Qualitative research is the form of “Observational Study“ will be conducted to get insight about customers’ reaction toward the factors mentioned earlier. Finally, Quantitative research is the form of “Self-administered Survey” in a “Mall-intercept” context.
Findings & Recommendation – The fast food industry is booming despite the current economic downturn, Wendy’s shouldn’t miss such opportunity by expanding its presence in the market; and perhaps to new market; as well as by introducing new offerings to satisfy it customer/acquire new ones. On the other hand, Wendy’s shall continue to strengthen its brand image and emphasis on the customer’s preferences to form a favorable image that support its business. It is also important to grasp the apparatuses through which brand image impacts consumer buying intention of fast food.
Limitations – Limited number of questions can be asked allowing little for the researched to know about their audience which can be enhanced through
References: Allan, C., Bamber, G. J., & Timo, N. (2006). Fast-food work: are McJobs satisfying? Employee Relations, Vol. 28(No. 5), pp. 402-420. Arumugam, N. (2011, September 30). http://www.forbes.com/sites/nadiaarumugam. (Forbes.com) Retrieved October 4, 2011, from Forbes.com: http://www.forbes.com/sites/nadiaarumugam/2011/09/30/americas-best-chain-restaurants-2/ Baek, T Brown, J., Easingwood, C., & Murphy, J. (2001). Using qualitative research to refine service quality models. Qualitative Market Research;, Vol. 4(Iss: 4), p.p: 217. Brown, J., Easingwood, C., & Murphy, J. (2001). Using qualitative research to refine service quality models. Qualitative Market Research;, 4(4), 217. Carrigan, M., & Kirkup, M. (2000). Video surveillance research in retailing: ethical issues. International Journal of Retail & Distribution Management, Vol. 28(Iss:11), p.p: 470-480. Chiu, Y.-C., & Liaw, Y.-C. (2009). Organizational slack: is more or less better? Journal of Organizational Change, Vol. 22(No. 3), pp. 321-342. Corkindale, D., & Wills, G. (1977). Setting Advertising Budgets. Managerial Finance, Vol. 3(Iss: 1), p.p: 53-70. Kara, A., Kaynak, E., & Kucukemiroglu, O. (1997). Marketing strategies for fast-food restaurants: a customer view. British Food Journal, Vol. 99(Iss: 9), p.p: 318-324. Kara, A., Kaynak, E., & Kucukemiroglu, O. (1997). Marketing strategies for fast-food restaurants: a customer view. British Food Journal, 99(9), 318-324. Lionel A., M. (1979). Common Approaches to Budgeting for Advertising. Management Decision, Vol. 17(Iss: 5), p.p: 357-403. M.Ulgado, M. L. (1997). Consumer evaluationof fast-food services: a cross-national comparison. The Journal of Services Marketing, 11(1), 39-52. Malhotra, N. K. (2010). Marketing Reserch - An Applied Orientation (Sixth Edition ed.). New Jersey: Pearson Education, Inc. Malhotra, N. K. (2010). Marketing Reserch - An Applied Orientation (Sixth Edition ed.). New Jersey: Pearson Education, Inc. Malhotra, N. K., & Peterson, M. (2001). Marketing research in the new millennium: Emerging issues and trends. Marketing Intelligence & Planning, Vol. 19(Iss: 4), p.p: 216-235. McDevitt, P., & C. Carlson, D. (1985). Budgeting Promotional Expenditures: Theory and Practice. Managerial Finance, Vol. 11(Iss: 1), p.p:1 - 4. Pope, J. A., & Lowen, A. M. (2009). Marketing implications of privacy concerns in the US and Canada. Direct Marketing: An International Journal, Vol. 3( No. 4), pp. 301-326. Researchandmarkets.com. (2011, Jan). China Research & Intelligence. Researchandmarkets.com. Researchandmarkets.com. (2011, Jan). China Research & Intelligence. Researchandmarkets.com. Sipahi, S. (2010, June). Expanding Operations in Fast-Food Industry under Uncertain Market Conditions. International Journal of Trade, Economics and Finance, Vol. 1(No. 1), p.p: 74-79. Sipahi, S. (2010, June). Expanding Operations in Fast-Food Industry under Uncertain Market Conditions. International Journal of Trade, Economics and Finance, Vol. 1(No. 1), 74-79. Soriano, D. R. (2002). Consumers ' expectations factors in restaurants : the situation in Spain. International Journal of Quality& Reliability Management, 19(8/9), 1055-1067. Thompson, J. (2009, Nov 29). Britain 's Growing Appetite for Fast Food. Retrieved 11 25, 2011, from Businessweek.com: http://www.businessweek.com/globalbiz/content/nov2009/gb20091125_320774.htm?campaign_id=rss_topStories Wendy’s/Arby’s Group, Inc Wendy’s/Arby’s Group, Inc. (2011). Wendy’s/Arby’s Group, Inc. 2010 Annual Report. Annual Report, Atlanta. Wikinvest.com. (2010). http://www.wikinvest.com/stock/Burger_King_Holdings_(BKC). Retrieved November 4, 2011, from wikinvest.com: http://www.wikinvest.com/stock/Burger_King_Holdings_(BKC)#Competition WILLS, G