“Life In The Fast Lane: Fast Food Chains Race To Be Number One”
MARKETING INFORMATION NEED FOR THE FAST FOOD INDUSTRY
To begin with, for the fast food industry around the world, the leading fast food chains; marketing information is wrapped around from convenience location, changing preference, quality of food, pricing of fast food, potential customers, age of the customers, menu selection and diversification and last of all ' superior service.
From marketing perspective, LOCATION for the fast food service to the potential customers is most important according to Maritz Marketing Research. The recent study showed the location has to be convenient. The analysis said that adults under the age of 65 prefer convenient location for their fast food. They need their service to be in “an arm distanced”, which means the convenient location helps customers save their time, traveling cost. For the fast food chain companies, locating the branches to reach customer becomes a positioning strategy.
CHANGING PREFRECE depended vastly on the fast food manus. For example we can mention about SALAD. Now salad was never considered as a part of fast food menu. But with the change of taste and preference, fast food chains like Windy, Taco Bell, and McDonald have introduced SALAD into their menus. This preference is not stopping only with salads. In 2002, McDonald’s introduced great tasting new products including premium salads, n salads plus menu; Chicken McNuggets made with white meat; Fish McDippers; Chicken Selects; and new breakfast offerings like the McGriddle sandwiches. Here as a fast food chain, McDonald did not have to introduce new dishes in their menus but with the impression and image in the market analysis, of increasing demand and changing preference in tastes and dishes has made them bringing the changes.
QUALITY OF FAST FOOD itself is most important to customers. These days, customers look forward for a superior quality. As a matter of fact ' PRICING also becomes a very significant factor along with quality. Fast food chains are now highlighting on the VALUE MEALS. This value meal is a combined package of different items within a very suitable pricing range, which can be afforded by mass customers. The low pricing strategies or value meals have become one of the benchmarks of competitive advantages among the fast food chains.
Along with above-mentioned factors for the marketing information, we have few findings from the given case - fast food industry must know about customers’ need and want. The demand of customer is always something new, so the marketers must have knowledge about new menu and verities of food in the offerings. Different customer like different taste, but nobody likes to compromise with their tastes. Fast food industry must know about the place, which is preferable to the customers. Convenience location should be a major focusing point for the marketing in fast food chains.
ROLE PLAYING OF MARKETING RESEARCH
Role of marketing research in fast food industry has an enormous impact. The emphasis in marketing is one the identification and satisfaction of customer needs. In order to determine customer needs and implementing marketing strategies and programs aimed at satisfying those needs, there is no other option than research.
Marketing research plays a vital role for gathering information about customers, competitors, and other important forces in the market place. To begin with, without market research a fast food company like Burger King cannot identify a potential target market both in domestic and international market. It helps to point out the scopes for the expansion and also bringing the extra value adds. Information about customers can only is gathering through market research. Now in recent time, customers have become more sophisticated. Without knowing their taste and preference, Burger King or McDonald’s cannot forecast...