Understanding Purchase Intent and Consumers’ Perception: A Brand Health Assessment for a Fast Food Industry Client
Fast Food Industry Trends
Today, the restaurant business is witnessing remarkable growth and it applies to the fast food industry as well. Despite the weakening global economy and increasing awareness of health risks, the fast food industry has managed to flourish in recent years. The rise of globalization and urbanization has greatly impacted the lifestyle of the consumers as they are heavily reliant on fast food restaurants to grab quick and easy meal options.
However, it is estimated that fast food restaurants will face a slew of challenges as consumers prefer to order and consume food within the comfort of their homes. Factors such as weather conditions, transit problems, shortage of time, and longer working hours will give an impulse to alternative options such as meal delivery services and convenience foods like ready to eat meals and ready to cook products. Fast food restaurants also face very low customer loyalty due to increasing competition and lack of innovation.
Why is Brand Health Assessment Important for Companies in the Fast Food Industry?
In today’s increasingly competitive marketplace, customers have a lot of options when it comes to choosing a brand. Never before has there been such a diversity and array of brands. Brand health assessment uncovers new areas for market exploration by providing insights into consumers’ underlying passions, preferences, behaviors, and expectations. Moreover, it helps companies to understand their brand’s health and the customer experiences that have the most profound effect on consumers’ decisions.
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