Mcdonald 's, Burger King And Wendy 's I Started

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Individual Assignment #1 Comparing McDonald’s, Burger King and Wendy’s I started to see some interesting aspects to their marketing strategies. First by focusing on their main economic characteristics, secondly looking more in depth at the competition and driving forces, and lastly their key success factors. They have been striving to make changes to increase market shares as well as trying to dominate a global fast food industry by competing in the products, places, prices, and promotions they offer and geographic markets as well. These competitors mature at different life cycles whether it be from growing in the existing market opportunities, developing new diversification into related business striking for sustainable growth, or…show more content…
They also use personal selling to communicate with customers and encourage them to buy more, such as deserts or different sides. Sales promotions are usually short-termed but all business go through it, offering special offers and discounts on certain items. Responding to the community they are based in sponsoring community events and helping out the community as a whole to promote public relations. In global aspects exiting of the industry creates mergers. By merging companies or becoming partners the industries are trying to capture interests that stand out. For example, McDonald’s attained Boston Market restaurant chain and Wendy’s came together with Tim Horton so they could attract a breakfast market and take away those from McDonald’s and Burger King. Allowing these companies to grow into other national markets helps them operate in numerous of countries. McDonald’s, Burger King and Wendy’s are labor intense markets. Being big companies means they have to have economies of scale in purchasing, manufacturing, transportation and advertising. Technology has become an essential in today’s working environment developing and innovating automated inventory ordering and fast ordering taking systems along with just in time operations as to produce efficient operations, reduce costs and increase marginal profits. The three fast food industries have to modernize to keep up with the demands of consumers by transforming the
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