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Brief history of mcdonalds
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The content of this document begin by introducing McDonalds’ and also explains the company’s dollar menu. The document also contains a description of my selected product; ‘the dollar menu’ in terms of the four utilities of customer value, mainly possession, time, place and form. The document also identifies the product’s target market in the US as well as in China, the competition of the product category in both home and foreign markets, it contains an explanation of how I would apply the segmentation, targeting, and positioning (STP) approach to market the product in the foreign market; it discusses the major environmental facts and trends in the foreign markets that might affect sales of the product, it explains how I would develop, execute and measure a campaign for the product considering the four p’s (product, price, promotion, and place) and lastly, it discuss the U.S. and international ethical marketing considerations.
McDonald’s Dollar Menu
McDonald's is the world's largest chain of hamburger fast food restaurants. The restaurant has locations in over 119 countries worldwide. The company began in 1940 and primarily sells hamburgers, cheeseburgers, breakfast items, soft drinks, chicken, french fries milkshakes, and desserts. The company also sells salads, fish, smoothies, wraps, and fruit. In response to changing economic trends and consumer incomes as well as spending habits, the company has expanded its menu to include the ‘dollar menu’ (Malcolm M. & Hugh W 2011).
The dollar menu is a group of menu items at McDonalds that are designed to be the least expensive items that are available for sale at McDonalds. The items are usually priced between $0.99 and $1.49. The dollar menu was designed by the...
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...markets that might affect sales of the product, it explained how I would develop, execute and measure a campaign for the product considering the four p’s (product, price, promotion, and place) and lastly, it discussed the U.S. and international ethical marketing considerations.
References
Donald L. Brady (2010) Essentials of International Marketing M.E. Sharpe
Kate Gillespie, H. David Hennessey (2010) Global Marketing Cengage Learning
Malcolm McDonald, Hugh Wilson (2011) Marketing Plans: How to Prepare Them, How to Use Them John Wiley & Sons
Shaoming Zou, Huifen Fu (2011) International Marketing: Emerging Markets Emerald Group Publishing
Vern Terpstra, James Foley, Ravi Sarathy (2012) International Marketing Naper Press
White, S. (2012). Principles of Marketing (1st ed.). San Diego, CA: Bridgepoint Education, Inc.
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).
Individually, each of the sections are factors that contribute to influencing a consumer to purchase a product and collectively they are called the Four P’s of Marketing. Some product features and benefits that we have would be our consumer friendly packaging. All of our packaged meats, including sausages are sealed in vacuum sealed plastics, which not only prevents meats from spoiling but it also preserves freshness and in addition to this, many of our sausages are pre-seasoned meaning that it reduces the amount of work needed by the consumer. The price of our product is very fair as well, as a vast majority of our livestock is supplied through our own agribusiness side. This not only makes it cheaper for us to make the product due to lower labor and supply costs, but it also makes the product more cheaper and affordable for the consumer. Our promotion is currently done mainly through online advertisements or on the TV as these are the types of promotion that reach the most consumers, and we currently market our products to retailers and wholesalers with transportation mainly done through land travel in domestic
McDonalds promotes the construct of “healthiness” as a justification as to why a consumer should purchase their food. This article introduces an interesting viewpoint that despite these claims of “healthiness” or even the inclusion of low calorie options does not ensure that the consumer will not overconsume their food. I will use this source to expand the findings in "Nutritional Quality at Eight U.S. Fast-Food Chains 14-Year Trends” which argues that despite the addition of “healthy” options at fast food restaurants, the overall nutritional quality of the menu remained poor. An analysis of these two sources will be used to help answer my research questions: what consists of healthy food in the McDonalds “Questions” campaign and what are the implications of this definition of healthy food? I will use these sources to support the significance of my claim. Specifically, I will use Downs as evidence for my claim that despite marketing campaigns aimed at redefining McDonald’s as a healthy option, the definition of healthy food that these commercials promote is too limited and ultimately attempts to conform to new definitions of healthy food without actually changing their
Firstly, one of the most important focuses would be given to the target customer as we will need to know more about their taste and preferences. What it is they need and or want. Particular topics covering this area will be, the need for ‘Market segmentation’, identifying a competitive position in the market about to enter in the market and studying consumer behaviour, will all be discussed.
Identification: Three aspects of McDonald’s overarching strategy are that they have focused heavily on emerging markets, began offering a wider variety of food to attract more sectors, and that they have not been afraid to take on new competitors. These three aspects are related in that when McDonald’s expands to different regions and markets, they are forced to battle new competitors to maintain dominance. Although McDonald’s already seems massively widespread, they still have not fully immersed the world entirely. Over the last several years, McDonald’s has made extensive effort towards developing in emerging markets. They have expanded throughout China and India, and also more unexpected areas such as certain African nations. In 2012, sales
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
The menu at McDonald's typically consists of hamburgers, chicken sandwiches, salads, drinks, shakes, and a recent influx of healthier alternatives. McDonald's also is widely known for their breakfast menu, which consists of sandwiches, pancakes, French toast, hash browns, and breakfast drinks. Since McDonald's appeals to such a wide audience, it must constantly re-evaluate its menu depending on feedback and market research. McDonald's expends considerable resources to update its menu and introduce new products in order to be more in tune with its target audience (The Times 100).
Etzel, Michael J., Stanton, Bruce J., Stanton, William J. (2004). Marketing. (13th ed.). Boston: McGraw-Hill.
A franchisee, an affiliate, or the corporation operates a McDonald’s restaurant. Thus, McDonald's Corporation revenues come from the rent, royalties, and fees paid by the franchisees or sales in company-operated restaurants. According to Yahoo Finance report, McDonald's Corporation had annual revenues of $27.5 billion, and profits of $5.5 billion (McDonald’s 2014). McDonald’s primarily sells hamburgers, cheeseburgers, chicken snacks, french fries, breakfast items, soft drinks, milkshakes, and desserts. In response to changing consumer tastes, the company has expanded its menu to include salads, fish, wraps, smoothies, and fruit. Their food caters to all age groups, and they have a special menu known as “happy meal” that is targeting children.
"Studying McDonald's ABroad: Overseas Branches Merge Regional Preferences, Corporate Directives." Editorial. Nations Restaurant News 11 Nov. 2005: n. pag. MasterFILE Premier. Web. 5 Mar. 2013.
The literature survey starts with second data collection. Online articles in English and Chinese words that talk about the KFC and McDonald’s operating conditions in China will be collected respectively. And theory will be integrated with practical information. The reason for choosing these resources is they can help me understand the two brands from the perspectives of the enterprise interior and exterior, and also the Chinese and Westerners’ views.
Product is fairly similar to competitors – the McDonalds menu is quite similar to many of its competitors such as Burger King and Wendy’s. This forces McDonald 's to have to lower its prices in order to continue to be competitive.
McDonald’s is known to satisfy your taste buds without breaking your bank account. Since 1930 when the first drive thru fast food place was opened the workers actually cared about how they were preparing their food. Now with the demand of people wanting to get a full meal but for very cheap, McDonald’s would be the best place for that. When approaching McDonald’s, you may think you are getting a cheeseburger for a great price, but really we have no idea what we are eating. It is a known fact that you can leave a cheeseburger and an order of French fries out for years, and nothing will look old or mold, just cold. McDonald’s food is so pumped with fillers and products that we should not be eating. This study was done on several occasions that the food does not age at all. You sometimes question when you visit a fast food restaurant how they make any money and stay in business with employees. But the reality is the food you are eating is not what you think it is. If we knew what boneless meats were made of we wouldn’t eat any of them. I can’t even imagine what the chicken nuggets are really made of, and why the meat in them really is “dark”. Even the burgers look like patties, not the ground up ground beef burgers. The dollar menu is designed for a cheap dinner and smaller portions. But the truth behind the dollar menu is that there is too many calories vs. income for the employees. That food that they are
But with the change of taste and preference, fast food chains like Windy, Taco Bell, and McDonald's have introduced SALAD into their menus. This preference is not stopping with salads. In 2002, McDonald’s introduced great tasting new products including premium salads, n salads plus menu; Chicken McNuggets made with white meat; Fish McDippers; Chicken Selects; and new breakfast offerings like the McGriddle sandwiches. Here as a fast food chain, McDonald did not have to introduce new dishes in their menus but with the impression and image in the market analysis, of increasing demand and changing preference in tastes and dishes has made them bring the changes.... ...
With further consumer behavior studies, McDonald’s marketers can understand the factors that control the customer 's sensitivity to changes in price. McDonald’s cost of food is the most important element of their business. If the price of the restaurants meals were to increase then the price sensitive customers would no longer gravitate to purchase McDonalds’ products. The restaurants inexpensive prices allow the company to beat out the competition. In the year 2013, a Big Mac would cost $3.60, whereas, a Baconator from Wendy’s would be $6.29 (Fast Food Menu Prices 2013). With the small price, there is a concern about how much quality and care goes into preparing McDonald’s food when compared to other restaurants; however, McDonalds’ remains beloved by the fast food