ipl-logo

The Meaning Of Market Research Of Hi Meals

3681 Words15 Pages

PEARSON BTEC INTERNATIONAL LEVEL 3 YEAR 2 EXTENDED DIPLOMA IN BUSINESS
UNIT 4: RESEARCH AND PLAN MARKETING CAMPAIN
NAMES: MUNYENTWARI JULES
ASSESSOR: MUYOMBA FRANCISCO
DATE: 19TH/01/2023
DUE: 2ND/02/2023
CENTER: KING DAVID ACADEMY
REG: 01213

Introduction
In this report consist of the meaning of market research of HI meals, the purpose of market research of HiMeals, the two types of market research, features of market research and the analysis of the market. Market research is a systematic attempt to learn as much as possible about target markets and consumers, starting with who they are. So this means that HiMeals carry out market research to describe the goals they have …show more content…

External factors that may have an impact on HI Meals include the economy, political regulations, technology developments, and changes in consumer behavior. By recognizing and controlling outside pressures, Hi Meals can preserve its position as a leader in the market and respond to changes. Hi Meals can identify potential risks and opportunities by keeping track of outside factors, such as changing economic conditions that may have an impact on consumer spending on meal delivery services or new regulations that may have an effect on the company's operations. They might also help Hi Meals identify novel concepts or technological advancements that could be advantageous to the company and develop plans to capitalize on them. External factors can also affect the market; for example, a recession may decrease demand for pricey meal delivery services and boost consumer preference for less priced ones. In order to remain competitive in this market, Hi Meals may need to alter its pricing strategy or offer more economical solutions. Competitors may be impacted by external circumstances, such as a new regulation forcing food delivery businesses to show calories on their menus. Hi Meals may need to modify their menus and packaging in this case in order to comply with the legislation and remain

Show More
Related

  • Rhetorical Analysis Of 'Fast Food: Four Big Names Lose'

    1237 Words  | 5 Pages

    The article, “Fast Food: Four Big Names Lose” employs the readers of such article to listen to an explanation of what other customers all around America value and do not value in the fast food chains that exist today. Written by Consumer Reports Magazine in August of 2011, a magazine dedicated to testing and surveying products and services themselves and to support groups and reporting the results of those tests to the consumers of America so that they may make more informed choices in their futures. Major fast food companies constantly brag and commercialize their success and the greatness of their product, however whether they actually compare to the product they so grandly promote is a different story. Consumer Reports Magazine delivers

    Read More

  • Malcolm Gladwell External World

    676 Words  | 3 Pages

    As consumers, we might feel disappointed and angry after reading Moss’s essay. Most of the food companies don’t care about consumers’ health. For them, following the market strategy and earning profit are the most important things. Food companies even change the nutritional profile to make those food products look healthier. Consider that, before food companies employees going to work in the food company, they might not know about all these secrets about food

    Read More

  • Hi-Value: The Everyday Low Pricing Strategy

    762 Words  | 4 Pages

    This option allows the grocery chain to focus on important determinants of store choice: Grocery and Produce. This option will increase Hi-Value’s competitiveness in the market, especially against chains that are less convenient and more expensive. Customer price perception is category specific so it will be a high impact. Management believes a price war with competitors is unwise and that it is not a viable option to engage in deep discounting across the board like Harrison’s, Grand American, and Missouri Mart. I think it is crucial to reassess pricing strategy on a quarterly basis per store to determine effectiveness.

    Read More

  • Chick Fil A Essay

    2058 Words  | 9 Pages

    Several new fast-food companies have emerged in recent years, appealing to younger customers with their creative menu offerings. Traditional fast-food companies like McDonald's and Burger King have lost market share to these chains, such as Chick-Fil-A, ShakeShack, and Five Guys. We can see the losses of other companies because when you go near any of these places that are competing the line tends to always be longer at Chick-Fil-A. The only thing is that there are so many more locations of say Mcdonald's or Burger

    Read More

  • External Factors Of Chick-Fil-A

    1130 Words  | 5 Pages

    Just like any other organization, chick-fil-A is greatly affected by the external environment of the business. Often, the external environment is made up of all outside factors and influences that affect the way an organization conducts its daily operation. It is worth noting that an organization has no influence over its external factors and thus, it has to re-engineer and redefine its process, products and services to work under the influence of the external environment. Below are some of the external factors that affect Chick-fil-A. Consumer income Consumer income is in the wider field of economic factors that affect the sales level of the enterprise. Consumers with high income are likely to possess the power and the ability to purchase products from the company in large quantities.

    Read More

  • Why Has Loblaw's Strategy Been Successful?

    790 Words  | 4 Pages

    The price of raw materials is high with low consumer switching cost. However, the increasing demand for healthy and organic food is creating openings for smaller competitors to enter and hide from the pricing

    Read More

  • Hi Meals Marketing Campaign

    1252 Words  | 6 Pages

    It can also help Hi Meals to identify gaps in the market and capitalize on them to gain market share. Market share In the context of Hi Meals, market share would refer to the percentage of the meal delivery market that the company controls. It will also help Hi Bake to identify areas where they can improve their performance, such as increasing their customer base or increasing the average order value. Additionally, it will help Hi Meals to set realistic and specific goals for growth, such as increasing market share by a certain percentage within a certain

    Read More

  • Dick Smith Essay

    536 Words  | 3 Pages

    However it doesn’t have a large impact on the food industry as such as consumers need to purchase food in order to survive. Although they may decrease quantity of foods they choose to buy, they are still willing to purchase basic foods that will sustain their health. Consumers are more likely during an economic downfall to spend their money on foods they require rather than want. The company as a result obtains an advantage from its competitors as they produce long lasting food options, which allows consumer’s to save during tough times. This highlights an opportunity for the company as they produce healthier and simple food varieties which many customers desire.

    Read More

  • Prince Sports Continue To Hold A Large Market

    430 Words  | 2 Pages

    To understand the market they need to do extensive research on economic trends, competition, technology, cost per customer acquisition, and customer

    Read More

  • Hcs 589 Strategic Plan Part 1 Organizational Structure Paper

    1780 Words  | 8 Pages

    Market research is used when a new product is being introduced into the market through a company. According to Valoris, R. F., & Kammermann, S. K. (1991). , “At the present time, the health care system is the second-largest industry in the United States. Growth of the health care industry has been continuous and significant.

    Read More

  • How Did Tootsie Roll Encounter Three Of The Five Forces That Drive Industry

    229 Words  | 1 Pages

    The five forces that drive industry competition and profitability are: rivalry among existing competitors, bargaining power of suppliers, bargaining power of buyers, threat of new entrants, and threat of substitute products or services. Tootsie Roll encountered three of the five forces in the Tootsie Roll Case Study: rivalry among existing competitors, bargaining power of suppliers, and bargaining power of buyers. The first force that Tootsie Roll encountered was competition among other snack food manufacturers, which include Hershey, M & M Mars, Nestle, Brach, Huhtulmac, Storck, and RJR Nabisco. Yet, the trend of increasing health conscientiousness provided Tootsie Roll with a competitive advantage because their candy has zero cholesterol

    Read More

  • P3 Unit 22

    1185 Words  | 5 Pages

    The purpose of market research is to understand customer behaviour this can be done by getting a specialist team to conduct a series of investigations this leads to fulfilling the needs of the customer. Businesses will choose to undertake market research, will have to look for the specific reasons for the use of the products For example Ferrari will go out and do a series of investigations to see what type of people buy their

    Read More

  • Sysco Porter's Five Forces

    773 Words  | 4 Pages

    Another company is Sysco, a food-service distributor in the U.S. Porter demonstrates that “It led the move to introduce private-label distributor brands with specifications tailored to the food-service market, moderating supplier power. Sysco emphasized value-added services to buyers such as credit, menu planting, and inventory management to shift” (Porter, 2008, p. 90). Like Paccar, Sysco knows how to make them different from their competitors in the high competitive industry. In food industry, customers is very sensitive with price because they have many options for substitute, so companies must have a competitive prices. However, Sysco decides that they should add values to their products and improve connection with their suppliers.

    Read More

  • Ethical Issues In Fast Food

    982 Words  | 4 Pages

    Throughout the last few decades, fast food companies have started popping out everywhere. With the

    Read More

  • Case Analysis: Case Study: Kraft Heinz Company

    1823 Words  | 8 Pages

    Kraft Heinz Case Study Executive Summary Problem Statement The focal problem that Kraft Heinz Company (KHC) faces is the decrease in demand of packaged-foods, while trying to increase revenue. Analysis This analysis studies Kraft Heinz Company’s strategy, competitive position in the market, problems being faced, and the company’s financials.

    Read More

More about The Meaning Of Market Research Of Hi Meals

Open Document