Market research in fast food restaurant sector
Shamim, Khalida (2019)
Shamim, Khalida
2019
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2019121125960
https://urn.fi/URN:NBN:fi:amk-2019121125960
Tiivistelmä
This is a research based thesis which focuses on market research in fast food restaurants. The main purpose of this research is to understand customer’s expectations in terms of services, menu items, and related ethical aspects. Another objective of this thesis is to evaluate the challenges for a startup restaurant based on market analysis of existing fast food market in capital region of Finland.
The detailed study of different market research methods was performed to develop the market research methodology suitable for the fast food restaurant business. After thoroughly studying different market research methods, the research was divided into two levels: micro and macro. The micro level market research focused on the factors which can be controlled by the entrepreneur, while the macro level market research focused on the factors which cannot be controlled by the entrepreneur.
For micro level market research, qualitative research approach was used to understand the factors which can help to attract the customers in fast food business. The non-participant observation method was employed to rate and record customer satisfaction for this purpose. This observation was performed in international fast food chain located in capital region of Finland. For macro level market research, quantitative and qualitative research approaches were used to understand the challenges for a startup restaurant. The PESTEL and Porter’s Five Forces analysis tools were used in this case.
Market research results are quite encouraging for restaurant business in Finland during the past few years. The analysis of these results confirms that opening a fast food restaurant in the capital of Finland has good chance of success. The author recommends to include hamburgers in the menu and allow the customers to see the preparation process and customize the ingredients according personal choices.
The detailed study of different market research methods was performed to develop the market research methodology suitable for the fast food restaurant business. After thoroughly studying different market research methods, the research was divided into two levels: micro and macro. The micro level market research focused on the factors which can be controlled by the entrepreneur, while the macro level market research focused on the factors which cannot be controlled by the entrepreneur.
For micro level market research, qualitative research approach was used to understand the factors which can help to attract the customers in fast food business. The non-participant observation method was employed to rate and record customer satisfaction for this purpose. This observation was performed in international fast food chain located in capital region of Finland. For macro level market research, quantitative and qualitative research approaches were used to understand the challenges for a startup restaurant. The PESTEL and Porter’s Five Forces analysis tools were used in this case.
Market research results are quite encouraging for restaurant business in Finland during the past few years. The analysis of these results confirms that opening a fast food restaurant in the capital of Finland has good chance of success. The author recommends to include hamburgers in the menu and allow the customers to see the preparation process and customize the ingredients according personal choices.