10.2 : Applications of Market Research

Marketing research helps businesses understand market trends, customer behaviors, and competitors, allowing them to make better decisions regarding products, pricing, and promotions.

Let's consider McDonald's, which has stayed ahead in fast food by using marketing research to match changing customer tastes for healthier options like Oatmeal and apple slices.

McDonald's employs segmentation research to tailor its offerings to specific customer groups, including health-conscious consumers.

Product research helped the company introduce apple slices, fruit & maple oatmeal and diversify the menu to cater to health-conscious customers.

By conducting price sensitivity analysis, McDonald's optimizes the pricing of new, healthy options to attract health-conscious customers while retaining existing ones.

The company successfully advertises healthier menu choices to health-conscious customers and engages them through suitable channels.

By utilizing distribution research, the company enhances accessibility by arranging logistics for fresh ingredients and maintaining quality standards.

Lastly, by conducting brand research, McDonald's boosts its brand image globally by researching healthier menu options, convenience, and taste, additionally tailoring menus to suit diverse regions and cultures.