Question

3. Topic 1

Market research is one of the most critical steps to successful marketing. This Discussion will focus on different types of marketing research to make more sound decisions.

Topic 1

Suppose McDonald’s® was considering bringing a new kind of hamburger to its stores.

What kind of research would it need to do in order to have some confidence that the new product would sell well, not just in the United States, but in its locations all over the world?

Answer 1

To launch a new hamburger, McDonald’s must first conduct a market analysis to understand the demand pattern and consumer liking in that region. This will help in increasing the acceptability of the new product in the market. Consumer surveys can be conducted to gauge the consumer liking and preference. Also, blind tasting or sample tasting events can be conducted to understand the perspective of the consumers about the new product. The studies need to be analyzed, both qualitatively and quantitatively to gauge the market inclination. Based on the result of the analysis, modifications and improvements can be done on the product, before its launch in the market.