Mcdonalds Case Study

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Recommended: Importance of marketing mix

Learning outcome 2a
2.1 assess the importance of components of the marketing mix to the industry
The marketing mix is a tool which is used by the organisations to develop and implement efficient and effective marketing strategies in the workplace. The marketing mix consists of a number of factors which are related to the organisation, its business model and its products. In this section of the report we will discuss the importance of the marketing mix in the marketing strategy implemented by McDonalds. Along with the significance of the marketing mix in the marketing strategy of McDonalds, we will also discuss a number of constituent factors of the marketing mix deployed by McDonalds (Bal, 2015).
As discussed earlier, the aim of the organisation …show more content…

The price factor allows the management of McDonalds to have suitable price tag for various products, which attracts more customers and leads to better sales.

Product
This factor of the marketing mix of McDonalds defines the products for which the marketing strategy is developed and implemented in the workplace of the organisation. This factor of the marketing mix of the organisation defines the various features of the products which are sold to both the existing and potential customers in the corresponding market (Bradley, 2013). Promotion
This factor defines the activities in which the management of McDonalds creates a buzz across the entire market for a particular range or individual products. The promotion factor of the marketing mix allows the management of McDonalds to define the various promotional activities to be carried out across the market. …show more content…

The pricing policy of McDonalds is to attract more customers by having a wide range of products in every price range, which allows the customers from every market segment to be attracted. This allows the management of McDonalds to have pricing strategy based on the quality and demand of the various products sold to the customers of the organisation.
There are various factors that affect price decisions (inflation, suppliers, competition, demand, and quality of the product or sensitivity).
Value Pricing is applied when external factors as inflation, recession or competition force the company to offer value products to maintain the sales. Many of the McDonald’s meals offer great value for the money. The price that the customer pays make the customer feels that he is getting a lot of product. McDonald’s has started to use value pricing strategies long time ago; for example, McDonald’s has introduced Big Mac Value Pack in 1985 for only 2.99$
The Value Pricing strategy is used by McDonald’s on large scale and is the main price strategy used by the fast food

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