In competitive markets many organisations are increasingly turning to market research to support their decision making processes, such as, opening new stores or expanding internationally.
Burger King has announced that it is planning to open its first restaurant in South Africa early next year. Decisions like this need to be informed and market research helps to support this process, significantly reducing the level of financial risk attached with investment decisions.
Jose Cil, the president of Burger King’s operations in Europe, the Middle East and Africa, said the company had studied the region closely and “now is the time to develop the brand in South Africa”. (BBC, 8th November 2012)
JD (part of JD Sports Fashion PLC), the UK’s leading retailer of fashionable sports and leisure wear, uses market research to support and develop its business. As a business-to-consumer (B2C) retailer, JD’s performance depends on providing the most desirable brands and products at the right price and in the right locations to meet with the demands of the consumer. Market research enables JD to assess more accurately the level of demand for its products.