Reference no: EM132634563

Although it is a successful brand, McDonald's have to continue researching to ensure that their marketing mix reflects changing buying patterns which evolve as a result of changing economic and social attitudes. They need to know which products are well received what prices customers will pay, which advertising media are most likely to be used by these customers and which locations are most successful. It needs to know whether the target market is increasing or shrinking and likely buying habits in the future. To McDonald's, understanding how customers feel about the product is as important as the product itself as these psychological factors affect the buying decision. Market research has enabled McDonald's to identify particular groups of customers and the particular reason each goes to McDonald's. This allows them to tailor their marketing mix to these particular groups.

What research methods would you implement to obtain the relevant data from target groups? How would you process this data?