The Marketing Mix of McDonald’s consists of the various elements in the marketing mix, which forms the core of the company’s marketing system, and hence helps achieve marketing objectives. The 4 P’s which are followed by McDonald’s are as follows:
1. PRODUCT
McDonald's places extensive accentuation on building up a menu which clients need. Statistical surveying sets up precisely what this is. Be that as it may, clients' necessities change after some time. With a specific end goal to meet these progressions, McDonald's has presented new items and eliminated old ones, and will keep on doing as such. Consideration is taken not to unfavorably influence the offers of one decision by presenting another decision, which will strip down deals from
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PLACE
Place, as a component of the Marketing Mix, is not just about the physical area or circulation focuses for items. It envelops the administration of a scope of procedures included in conveying items to the end purchaser. McDonald's outlets are uniformly spread all through the urban communities making them easily available. Drive in and drive through alternatives make McDonald's products further helpful to the purchasers.
4. PROMOTION
The promotional activities adopted by McDonalds helps to communicate efficiently with the target customers. The diagram gives an idea about the promotion strategy of McDonalds. Application of the above mentioned Communication Mix describes the cost that is feasible as per the consumers. Some of the most famous marketing campaigns of McDonalds are:
(a) “You deserve a break today, so get up and get away- To McDonalds”
(b) “Aap ke Zamane mein, baap ke zamane ke daam”
(c) “Food, Folks, and Fun”
(d) “I’m Loving It”
McDonalds corporate used these various techniques to become the world’s largest leading Burger Empire.
Due to the distinct features of advertising, McDonalds also hold the hand of advertising. There are 3 main objectives of advertising for McDonald’s, which are to make people aware of the item, feel positive about it and remember
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The 4 Ps of the marketing mix are: Product, Promotion, Price, and Place. The marketing mix puts the right products, at the right price point, in the right place, at the right time. The following examines how Claire’s Chocolates optimizes its marketing mix (Yoo, Donthu, & Lee, 2000, 195-196).
In 1940, McDonalds was not the multi-million dollar industry that people recognize today. In fact, it started out as a small drive-in style BBQ restaurant, owned by Dick and Mac McDonald, in San Bernadino, California. However in 1948, the entire workings of the restaurant were altered, making it the dawn of the McDonald’s empire. This new drive-in, like other drive-in restaurants of its time, struggled to make a large amount of profit, due to selling low-priced food using traditional methods, which were often labor intensive and expensive. But the McDonald brothers fixed this problem by reducing their menu 25 items to nine items: hamburgers, cheeseburgers, soft drinks, milk, coffee, potato chips, and a slice of pie. Their staple item, the 30 cent hamburger, accounted for 80 percent of their total sales. Later, the brothers altered the production to that of the Fordist assembly line in order to make the whole operation fast and efficient, halving the price of their items, including their prized hamburger. (http://www.aboutmcdonalds.com/mcd/our_company/mcdonalds_history_timeline.html?DCSext.destination=http://www.aboutmcdonalds.com/mcd/our_company/mcd_history.html).
Marketing Mix is a very essential concept for the progression of the business. Products and services of a business organization get effective strategic positions in the market with the help of using marketing mix. According to Belz (2011), through appropriate attentiveness of the marketing mix, an organization can have proper explicated marketing tactics and strategies through which the company’s marketing objectives can be achieved at the required level. Marketing mix is not merely a single term but it is an assembly of different elements of marketing.
MacDonald’s campaigns have branded its values through good food products in MacDonald’s marketing. An example is MacDonald’s have strategically produced their public relation in China to improve recognition of Mc China Wrap burger using unique brand names (Shah, 2008). The campaign has captured new clients and spread to new provinces by positioning itself as efficient compared to its competitors.
The topic also seeks to identify the marketing and promotional strategies that is most appealing to the people. The focus will be directed towards the American fast food companies that is Mc Donald`s, Burger King and KFC. In this view, the topic establishes the strongest advertisement among the three companies. Advertisements is a tool under promotion in marketing that is sells the products as well as the company to the customers. A good advertisement creates an added advantage to a company in terms of
The McDonald’s Corporation case study take a comprehensive look into the competitive market of the fast food industry. Particularly, McDonald’s and some of it greatest fast food competitors. In this analysis I will be revealing the marketing strategies of McDonald’s and other fast food companies. Identifying the trending tastes of consumers in this market, tactics used by McDonald’s competitors such as Wendy’s and Burger King to one up the marketing strategies of McDonald’s. I’ll also be assessing the strength, weaknesses, opportunities and threats of McDonald’s in this market segment. Evaluating the consumer purchase decision process and purchase type in the food industry. Lastly, I’ll explore which growth strategies I believe would make the
The title of the campaign alone gave the company a theme. Solely having the time to answer every question possible to the audience was a great idea. Millennials want to be heard. Key messages that were essential to McDonald’s was as they express, “… our move to ensure we engage people in a two- way dialogue about our food and answer the questions and address their comments.” (Kevin Newell, chief brand officer for McDonald’s USA). This was a two- way communication between the consumer and the producer of the fast food. To help people know directly and not from any other news
Marketing is a process of determining a consumer’s needs, devising a product or service to satisfy those needs, and trying to focus customers on the goods and services you are offering. Marketing is extremely important, and a fundamental building block for business growth. A marketing team is given the task of creating customer awareness through a variety of different marketing techniques. If a business does not pay close attention to their consumer demographic and needs, they will eventually fail over time. Two important aspects of marketing include acquiring new customers, and the preservation and growth of relationships with current customers. Marketing has always been viewed as a creative outlet, which encompassed advertising, distribution, and the selling of goods and services. Marketing staff will also try to anticipate what customers will want in the future, often being accomplished with market research. In summation, a good marketing plan should be able to create a favorable proposition or series of benefits that a customer can value through goods or services. The marketing mix is normally described as the strategic positioning of a product or service in the marketplace, using the specification of the four Ps. During the early 1960’s, Professor E. Jerome McCarthy of Harvard Business School stated that a marketing mix contains four elements. The four key points are product, pricing, promotion, and placement. It is recognized that all these aspects must be present to ensure a successful business model within a given industry. We will now take a thorough look at the four marketing mix points.
In order to improve their business portfolio analysis, McDonald’s needs to play off their strengths and resolve their weaknesses in order to remain one of the top performers in the industry. The reasons why they remain in the cash cow stage include strong branding, customer loyalty, and good community relations. McDonald’s is not without its downfalls, as we see with their variable levels of quality, lack of healthy options and high turnover.
McDonald’s is such an iconic fast food restaurant that almost every American and a good part of world relates the golden arch with McDonald’s. In its journey to be the most recognized brand, McDonald’s had its humble beginning and many turbulent fights of survival. McDonald’s marketing journey is a noteworthy one for anyone studying the marketing.
McDonalds also uses diversification in its global marketing. McDonalds recognizes that different countries have different values, customs, and tastes. Therefore, McDonalds satisfies these diverse global tastes by diversifying the menu according to each country’s unique preferences. This added diversification tactic, allows McDonalds to stay competitive in a global market. Examples of McDonalds globally diversified menu would be that McDonalds offers an exclusive beefless menu to its customers who live in India. This is because eating beef in India is sacrilegious. To meet the tastes of customers in India, McDonalds created new offerings such as the “Pizza McPuff” and the “McVeggie.” McDonalds considers the cultural tastes in every country it opens its doors
Advertising appeals to consumers through common images; the logo used is well-designed and there is a clear separation of art from commerce. Advertisers use these iconic images to appeal to consumers since they symbolize or stand directly for something. The image for MacDonald’s symbolizes its non-conventionality. Hence advertisers use these images to communicate much more than words, since they seem to convey the message without too much effort. According to McDonald’s website, their mission statement is “to be our customers' favorite place and way to eat. Our worldwide operations have been aligned around a global strategy called the Plan to win centering on the five basics of an exceptional customer experience – People, Products, Place, Price and Promotion. We are committed to improving our operations and enhancing our customers' experience. (http://www.aboutmcdonalds.com/mcd)
McDonald's is the world’s leading food service retailer with more than 30,000 local restaurants in 121 countries serving 45 million customers each day.
In today’s market, McDonalds faces numerous challenges such as fierce competition, a more health conscious customer, and the continual need for improved customer satisfaction and menu. McDonalds needs to go through some changes in order to remain ahead in the fast-food industry.