wendy's report
TRANSCRIPT
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CONTENT1. INTRODUCTION .. 022. OBJECTIVE .. 023. DATA PLAN ANALYSIS .. 034. DATA ANALYSIS .. 04
- METHODOLOGY- PLAN OF DATA ANALYSIS
5. RESULTS FROM DATA ANALYSIS 066. MARKET ANALYSIS 127. SWOT ANALYSIS .138. FINAL OBJECTIVE RESULTS ..179. LIMITATION AND RISK .. 2010.CONCLUSIONS AND RECOMMENDATION . 24
- CONCLUSIONS- RECOMMENDATION FOR FUTURE STUDY
11.REFERENCES 26
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INTRODUCTION
Wendys is a restaurant chain that is immersed in the Fast Food Restaurant Industry where we
can find companies that compete in different segments, such as Burger, Sandwich,
Snacks/Drinks, Chickens as well as Pizza are important. Each restaurant is in high competition
with other fast food service operations within some Specific area. These quick and fast food
service restaurants are high in competitiveness and include well established competitors.
Product Quality, variety of Products, convenience Stores/Restaurants, price of food and value
of food products offered, locations, quality and speed of service are the competitive key
advantages.
By system wide sales, Wendys Company is the number 4 in the America; behind McDonalds,
Subway and Burger King. For the year 2010, it has almost 6.000 restaurants (owns or franchises)
and approximately $ 8, 3 billion in sales.
Wendys is recognized as a traditional brand with quality food and service, great taste, with
focus on fresh never frozen ground beefs that offers burgers and fries as well as alternative
items such as baked potatoes , chili and salad, they have a standard menu featuring hamburgers
and chicken breast sandwiches.
Objective
Our key Objective for the market research is to find out the following:
The perception of Toronto Downtown area public and University students towards
Wendys Fast Food Restaurant.
Position of Wendys Fast Food Restaurant in the minds of target market.
What percent of market captured by Wendys in Toronto Downtown area?
Data plan analysis
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For analyzing the results, a data preparation process will be used. This includes the checking of
Questionnaires, editing and reviewing the questionnaire, response codding, transcribing the
obtained data, data cleaning for the consistency checks and checking of various missing
responses of respondent, statistical adjustment of various data and selection of various data
analysis strategy. For following stage we are going to use a wide range of statistical techniques
as: Frequency Distribution as well as Cross Tabulation and Hypothesis Testing. The election
will be related with the variables include, percentages, mean, statistical relevance or high level
of correlation between variables.
Data Analysis and interpretation
The data that we are going for the statistical analysis comes from the survey conducted by us
(Humber students). We are going to use several statistical techniques for the approaches.
a. Methodology
The elements of the Target Population are adult males and females as Elements, the Sampling
units are households, the extent is the Toronto Downtown Wendys restaurant Locations as well
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as college/University locations and the time is the year 2013. To cover this entire area, we used
non-probability sampling technique under which we choose for convenience sampling and
Quota Sampling. The sample size was in the typical ranges between 80 to 100. For this case we
will point a size of 100.
As, our objective of the market research was to find of the perception of the Toronto public and
university students towards Wendys fast food restaurant. So, to find out the results, we will be
using various statistical techniques such as Frequency Distribution to analyze percentages and
relative rankings as well as positions, Cross Tabulations to study relation between variables,
amounts, percentages and significance of the relations, and, finally Hypothesis Testing to prove
our hypothesis.
b. - Plan of Data Analysis
As we mention in the data analysis methodology, the plan was to analyze the 5 Components of
the Marketing Research Problem and test their related Hypothesis with different statistical
technique; we will record the results in several schematics sheets (see appendix C) each of the
applied statics including: number of the marketing research problem component, method of the
selected technique, assumptions, input parameters, sequence of commands, produce outputs,
summary of the results, change or the adjustments needed and comments.
Results from the Data Analysis
1: When you want to have a meal in a fast food restaurant, will Wendys come to your mind as
the first choice?
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According to the survey response for this question, the first restaurant comes to their mind is
Mc Donalds and Subway, Other than, Wendys, KFC, Burger King and others.
2. Which fast food restaurant(s) do you visit most frequently?
0
0.5
1
1.5
2
2.5
3
3.5
4
4.5
Mc
Donalds
Wendy's Subway Pizza Hut KFC Burger
King
Others
Series 1
Series 1
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According to the survey, mostly people prefer to go Mc Donalds as well as Subway and only 30
percent of population prefer to go Wendys.
3. What type of the promotion you think is using by Wendys to increase the rate of profit?
According to the respondent response, Wendys is best in Happy meals as compare to Lunch,
Deserts and Breakfast.
4. What time of the day do you prefer to eat at Wendys Restaurant?*
0
10
20
30
40
favourate
favourate
0
10
20
30
40
50
Lunch Breakfast Happy Meal Desserts
Series 1
Series 1
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According to the survey, around 40 percent of the target population prefer to have Wendys
burgers during Lunch time.
5. Which type of Wendys promotional advertising catch your eye?*
According to the survey, 70 percent of the respondent like the television advertisement of the
Wendys other than Internet, Billboards and etc.
6. Does the Wendys advertising influence you?
0
10
20
30
40
Breakfast Lunch Dinner Desserts Snacks
Series 1
Series 1
0
10
20
30
40
50
60
70
Internet Newspaper Billboards Posters Magazines TV
Media
Media
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According to the survey, the respondents are actually influenced by the Wendys
advertisement.
7. What do you think about healthy eating at Wendys Restaurant?
Around 60 percent of the target population think that healthy eating at Wendys is a good idea.
YES
NO
GOOD IDEA
BAD IDEA
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8. What is your opinion about introducing low fat, baked and highly nutritious food at Wendys
Restaurant?
9. What is the main reason(s) for you to patronize Wendys? *
10. How much do you usually spend on a meal at Wendys?*
Yes
No
0
5
10
15
Series 1
Series 1
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11.If you chose Wendys, which aspect attracts you the most?*
12.What is your evaluation for Wendys?
Dollars
$0-$10
$10-$20
$20-$40
Above $40
0
2
4
6
8
10
12
14
16
Advertising taste enviornment speed food
Series 1
Series 1
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13.The unlimited re-fill of drinks, Delivery and Drive through service in Wendys is easyand advantages as compare to the other similar fast food restaurants?
0
2
4
6
8
10
12
14
16
Packaging Advertising consumer
Preference
speed Quality
Series 1
Series 1
Yes
No
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14.Thinking about your most recent visit to Wendys, to what level of satisfaction do yourank that visit?*
16. Gender?
Very Poor
Poor
Good
Very GoodExcellent
Male
Female
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17. Age?
18. Monthly income/ allowance.
Below 18
18-25
25-30
Above 30
0-$1000
$1000-2000
$2000-4000
Above $4000
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20. Occupation*
MARKET ANALYSIS:
In the past 5 years, the Fast Food Restaurant industry has grown more than 3.2 percent average
per year. The Companies that had the higher rates of growth were Dunkin Donuts with a 7.8
Students
Executive
Public Sector Worker
Self employed
House Wife
others
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percent, Subway - 7.5 percent and Starbucks - 7.5 percent and McDonalds - 3.9 percent. Except
McDonalds, the other companies are related with Sandwiches, Hot-dogs, Snacks and Drinks.
The chain Subway has focused in the niche of fast food in a healthy way; they become the
default for healthy and fast service meal. Health information is described on their packingmaterial.
Although Dunkin Donuts and Starbucks are in the fast food restaurants, they are not directly
competing in the main meal segment, they are in the beverage and snacks market, but still they
can be considered in the competition. For example Dunkin Donuts has lunch main dishes and
both of them have the completion in the breakfast or in-between meals opportunities. These two
companies are not considered to be the junk and fast food suppliers.
Finally McDonalds is the largest fast food restaurant chain in the US and Canada, with the 23
percent of the market share. They have grown almost 4 percent, and their main strategy is
focused on reinvent product innovation, like real fruit smoothies, new drinks and beverages.
The success in McDonalds sales is related in creating a more attractive menu and environment
in its stores and consumers seeking less expensive food options.
By the other hand, we have the other group of 6 restaurant chains that have grown less that the
average. We can count in this group of worst ones the chains KFC, Burger King and Pizza Hut.
All these brands are related with the traditional fast food industry such as burgers, finger fries,
chickens and various pizzas. More or less they have had administration and management
problems, very less product innovation and do not have any healthy food menus.
Swot analysis
Strength:
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Strong management Atmosphere
GLOBAL BRAND
OPPORTUNITY:
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GLOBAL OPPORTUNITY RECESSION
HEALTHY MENU
WEAKNESS:
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BREAKFAST MENU PROBLEM MANAGEMENT
THREAT:
INCREASING BEEF PRICE
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INTERNAL FACTOR EXTERNAL FACTOR
FAVOURABLE FACTOR
STRENGTH
1. EXPERTMANAGEMENT
2. GLOBAL BRAND3. ATMOSPHERE ADDS
VALUE
OPPORTUNITY
1. INTERNATIONALMARKET
2. ADVANCE INTECHNOLOGY
3. RECESSION
UNFAVOURABLE FACTOR
WEAKNESSES
1. BREAKFAST MENU2. MANAGEMENT
CHANGES
THREATS
1. INCREASE IN BEEFPRICE
FINAL OBJECTIVE RESULT
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Our key Objective for the market research is to find out the following:
The perception of Toronto Downtown area public and University students
towards Wendys Fast Food Restaurant.
Position of Wendys Fast Food Restaurant in the minds of target market.What percent of market captured by Wendys in Toronto Downtown area?
Based on the Reponses received from the survey as well as analysis of the entire data;
Following results are generated for the Final Objective of our Market Survey. We will be
discussing each objective one by one in detail:
RESULT 1: Based on the research, we found that though there are number of fast food
chains are available for customers to have their meal on the go, but still number of
public of downtown area as well as students of various universities and colleges has a
good perception toward the Wendys, as most of them like Wendys for their authentic
taste and Fresh Hams Burger.
The below chart will support our Hypothesis for this objective:
The above chart shows that, around half percent of total population still prefer to have
Wendy food other than Mc Donalds, Burger King, and KFC etc.
0
2
4
6
Wendys Other food chains
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RESULT 2:The survey results show that the Wendys is positioned in the minds of the
consumer in Bad ways and in Good way. Not all population think that Wendys is good
as compared to other fast food restaurant chains. The below chart will show the
positioning of Wendys in the minds of target market:
This Chart is the result of our Hypothesis for the objective: Positioning of Wendys in the
minds of Target market. In overall target population, we found out that 65 percent of the
people have good positioning of Wendys in their mind. Other than this, there are still 35
percent of the population still have the bad positioning in their mind with regards to
Wendys.
0
10
20
30
40
50
60
70
BAD POSITION GOOD POSITION
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RESULT 3: Our third and the last objective were to find out the percent of market
captured by Wendys in Toronto Downtown area? With our survey, we found out the
very interesting survey results of the market. Following pie chart will support our
hypothesis:
The above result shows the result that around 40 percent i.e., the major market is
captured by the Mc Donalds itself because of its less price food and drinks as well as
fast service and convenience store. Besides this, Wendys holds the second position as
compare to burger king, Dominos, KFC, taco Bell with capturing 20 percent of the
market of Toronto Downtown area; Whereas, the other fast food chains holds only with
10, 8, 7 percentage of market. Therefore, this shows that Mc Donalds is one of thefavourite fast food chains of Students as well as Downtown public.
Sales
Mc Donald
Wendys
Burger King
Dominos
KFC
Taco bell
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Limitation and Risks
Although this study has kept all the procedures and process of an optimal marketing research
project there are some limitations that can come from potential sources of error like random
sampling errors, that occurs because the particular sample is an imperfect representation of the
population of interest, and non-sampling errors that can be attributed to sources other than
sampling (random or non-random), like errors in the problem definition, approach, scales,
questionnaire design, interviewing methods, and data preparation and analysis
In this particular case, the survey was designed and developed for investigating a wide range of
concerns that Wendys has about their competitors, customers patronage preferences,
customers demographic profiles but not precisely and specifically answer the marketing
research problem defined in this study. Thats why the conclusions have that limitation;
however they continue to be statistically valid.
CONCLUSION
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Wendys is unique when compared to other fast food chains. It is well known for its
quality products since they dont use frozen beef or mass producing food. Wendys use s
high quality New Zealand beef with no preservatives or fillers. Most of the consumers
prefer Wendys because they consider it to be much healthier than the other fast food
chains. Wendys offer more choices when compared to others. They use social media in
order to stay connected with the customers. It is the first fast food chain to launch online
orders. They are planning to remodel their stores which involve lounge seating with
fireplaces so that customers can stay longer. It's the first to offer a Salad Bar, Hot-Stuffed
Baked Potatoes and sugar free iced tea. Wendy's also offers convenience packed freshly
made salads to go. It's the first to offer a 24-hour food service with an on-call 24-hour
delivery service. Its the first fast food chain to sign a Memorandum of Agreement with
DOH in support of DOHs Healthy Lifestyle Campaign.
FUTURE recommendation
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Wendys although being a successful fast food chain need to take adequate steps in
order to face the future challenges. The reformulation of their signature sandwich may
create some problems which should be dealt with new and better products. They should
introduce new offers and variety of products in order to deal with the competition from
its rivals. Wendys should create some health awareness programs and events in order
to get closer with the public instead of completely focusing upon social media
marketing. They could also launch some products which are of lesser price thus
attracting more consumers. Wendys also need to concentrate on new types of salad and
other healthy products which are focused on women and people who is concerned
about health. They need to launch new mobile applications, in order to keep track of
customer feedbacks, to order food, locate stores and quick access to the menu and price.
Wendys should improvise the total ambience and features of the store so that customers
spend more time in their stores.
REFERENCES
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www.aboutwendys.com www.burgerbusiness.com
www.nrn.com
www.wikipedia.org www.dailyfinance.com
http://www.aboutwendys.com/http://www.aboutwendys.com/http://www.burgerbusiness.com/http://www.burgerbusiness.com/http://www.nrn.com/http://www.nrn.com/http://www.wikipedia.org/http://www.wikipedia.org/http://www.wikipedia.org/http://www.nrn.com/http://www.burgerbusiness.com/http://www.aboutwendys.com/