Epiphany Washington
American Intercontinental University
Unit 5 Individual Project
MKTG 205 – Principles of Marketing
August 21, 2016
Abstract
This paper defines the 4 Ps of the marketing mix, Product, Price, Promotion and Place. A brief look at McDonald’s marketing strategies will give examples of how a global business utilizes these 4 Ps to conduct a successful billion-dollar company.
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Introduction
A Marketing Strategy takes an important role in operating a successful business. It is basically the outline in which a company will manage the 4 Ps of the Marketing Mix. These include Product, Place, Promotion and Pricing. McDonalds is a great example of a business that has reached customers globally by implementing a successful marketing strategy.
McDonald’s Main Line of Business
McDonald’s is one of the most well-known fast food restaurants worldwide. The brand was first established in 1940 by Richard and Maurice McDonald in San Bernardino, California, and was originally called McDonald’s Hamburger offering burgers, fries and drinks with quality and quick service. In 1955 Ray Kroc founded McDonald’s System Inc. and then later bought all rights to the McDonald’s brand. Since then he has brought it up to be a very successful, global business.
Countries in which the McDonalds Operates
McDonald’s is currently operating in over 100 countries with over 30,000 restaurants. The first countries outside of the US to have a McDonalds was Canada and Puerto
McDonald a re-known restaurant chain originated in 1954 in California, USA. Its franchisees operate McDonald restaurant which offers variety of services including coffee, soft drink, beverages and other food. In accordance to conducted survey 31st Dec 2009, company operates or runs 32,489 restaurants in 118 countries.
McDonalds is one of the biggest fast food companies in the market share today. It has been running in over 119 countries, as well as they have acquired over 31,000 restaurants in the world now. McDonald’s brand mission is to be customers’ favourite place and way to eat, they are aligned around a global strategy called the ‘Plan to Win’, they also committed to continuously improving their operations and enhancing their customers’ experience. As we all know that McDonald’s had successfully achieved their goal through out the years. (aboutmcdonald’s, 2012) Apart from this, as McDonald’s is a worldwide company, they also had the social responsibility to return the community; therefore, the ‘Ronald McDonald House Charities’ was
The global segment of the general environment is that McDonald’s has Internationally and successfully expanded into foreign markets around the world. The first country that McDonald’s expanded to was Canada. Today, McDonald’s successfully operates in more than 100 countries and has over 34,400 locations. According to the McSpotlight.org, “on average, McDonald’s opens a new restaurant every three hours”. The world recognizes McDonald’s as a truly successful American company with tasty and affordable food items.
McDonald's is a multi-national fast food restraunt chain. McDonald’s was founded as a barbeque restraunt in 1940 by Richard and Maurice McDonald. McDonald’s was converted into a fast food restraunt in 1948. Today, McDonald’s has over 36,000 locations in 119 countries and serves approximately 68 million people every day. The menu consists of hamburgers, chicken, french fries, soft drinks, desserts, and breakfast items. McDonald’s restaurants are primarily owned and operated by independent business men/women. Finally, as of 2012, McDonald’s was the second largest private employer behind
to the customer’s tastes, value systems, lifestyle, language and perception. Globally McDonald’s was known for its hamburgers, beef and pork burgers. Most Indians are barred by religion not to consume beef or pork. To survive, the company had to be responsive to the Indian sensitivities. So McDonald’s came up with chicken, lamb and fish burgers to suite the Indian palate.
The McDonalds chain expanded both internationally and domestically, reaching a total of 10 000 restaurants by 1988. 35 000 outlets are operating in more than 100 countries. McDonald’s growth was so quick that it was said a new McDonald’s outlet opened every five hours somewhere around the world. McDonald’s became a popular family restaurant selling affordable food that appealed to both adults and
McDonald's is an Americal fast food restaurant chain which has 76years of history. It was founded as a barbecue restaurant at first in 1940. They reorganized their business as a hamburger restaurant and using production line principles in 1948. Today,Mcdonald's is the world's largest restaurant chain, serving 68 million customers in 119 countries daily. McDonald's operates 36,525 restaurants all around the world and employing more than 420,000 people. There are also a total of 6,444 company-owned locations and 30,081 franchised locations.
The foundation of McDonald’s, a well-known brand name in fast food industry, dates back to 1940 when the McDonald brothers, Dick and Mac, opened a drive-in restaurant in San Bernardino, California. They came up with an idea of using an assembly line process to serve more customers in the same amount of time. In 1948, that idea turned out to be a success as the potato chips were replaced with the world famous French fries of McDonald’s. The real person behind the company’s history, however, is Ray Kroc (picture) (Fast Food Restaurant 2015).
Restaurants McDonald’s is the world’s largest network of hamburger fast-food restaurants, it served over 68 million customers every day in 119 countries and has 36 000 outlets (Yahoo Finance, January 2012). Established at United States in 1940, this company started operating as a barbecue restaurant inspired by Richard and Maurice McDonald, located at 1398 North E Street at West 14th Street in San Bernardino, California. Their introduction of the “Speeded Service System” in 1948 furthered the principles of the modern fast-food restaurant that the White Castle hamburger chain had already put into practice more than two decades earlier. The first McDonald’s with the arches opened in Phoenix during March 1953. The original mascot
McDonald's is one of the famous brands that have existed over the last 52 years. The company started in 1955 by Roy Croc and the first restaurant was opened in Des Plaines, US. This restaurant is no longer running and has been turned into a museum. The company is committed to improving their
operates more than 24,000 restaurants in 111 countries worldwide. In the United States, it has 12,450 US outlets, most of them in stand-alone locations that generate a 42% share of the nation's fast-food hamburger business. Corporate communications states that a new McDonald's restaurant opens every 8 hours (McDonald's 1999).
There are now more than 28,000 McDonald’s Restaurants in over 120 countries. In 2000, they
Offering more products or offering more complex products makes operations management more difficult in multiple ways. One way an operations manager’s job gets more difficult with complex product offerings is inventory becomes more difficult to manage. The more items you offer in your product line, the more suppliers you will need to supply you with the materials to produce the offerings. For example, the operations manager for McDonald’s currently might deal with a fish supplier for their fish-filet sandwich, but after the menu changes they might decide to cut out the fish-filet sandwich from their menu, due its lack of appeal to their customers. In this case, McDonald’s would have less inventory to manage because they would not need to keep fish, and most likely tartar sauce, in their inventory supply. The management of the supply chain becomes more difficult to manage as a company offers more complex products. With a diverse product offering, there is bound to many suppliers involved in order to supply a company with the products they need for production. For example, McDonald’s deals with a plentiful amount of suppliers for their large amount of products they offer to their customers. McDonald’s might get their beef from one supplier, but get their vegetables from a different suppler, and so on. As the number of product offerings increases, the number of supplier is bound to increase putting more pressure on the operations manager to deal with a complex supply chain.
Since the day that McDonald’s Corporation was founded, the company has devoted to provide the high quality food and best service to customers. However, the truth is there is no delivery services in the UK’s McDonald’s system. In order to satisfy customer’s needs and wants, and for those customers who are not convenient to go outside, McDonald’s is planning to develop the food delivery system in the UK. On one hand, this move might increase the number of consumers, so that more profit could be made. On the other hand, more employees are required for the company, then more job opportunities are created, it has positive influence to the society.
A marketing strategy is essential for the development, growth and sustenance of a business as well as ensuring that the business maintains its competitive advantage.