1. Outline the reasons why McDonald's have been so successful throughout the world. (Use both the information in the case and your own knowledge.) 2. Which ones are the more important reasons? 3. Which of the reasons that you have identified would be considered to be part of the 'marketing function"? 4. Therefore, in your opinion, to what extent have marketing related activities contributed to their global success?
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
Student Task
In this activity, we will use a quick overview of McDonald’s in order to try and identify the reasons for their success throughout the world and the contribution of marketing (if any) to their overall performance. This will help in gaining a good sense of the scope of marketing in a large firm.
ACTIVITY/TASK
Let’s face it – pretty well everyone we know has eaten at McDonald’s at some time or other. But why is McDonald’s so successful? Particularly as many people would agree that their food is only just OK. Therefore, if it’s not their core product offering driving their success, then what is?
To find out, let’s go back to the beginning of their success story. It was in the 1950’s when Ray Kroc, a milkshake machine salesman, got a big order from the McDonald’s brother’s hamburger store. They bought six machines that had the capacity to make 48 milkshakes at one time!
Ray was fascinated to find out why a local hamburger store would want to make so many milkshakes. He found out that they had very efficient processes and systems that enabled them to make many hamburgers in a short period and serve many customers quickly. Obviously, Ray saw significant potential in this local hamburger store and eventually worked with the McDonald’s brothers to expand store numbers.
Since then, McDonald’s has streamlined, fine-tuned and systematized their food production process even further. This allows them to provide great speed and consistency of product. This gives their customers the reassurance of knowing exactly what they are going to get, no matter which McDonald’s store they visit.
Today, McDonald’s is a major owner of real estate and has stores in thousands of key locations throughout the world. This obviously provides great convenience to customers. And to make their offering even more convenient, McDonald’s have added drive-thru options and extended trading hours at many of their stores.
They also provide a good range of facilities including easy parking, comfortable seating, playgrounds, restrooms, and sometimes even free newspapers – all within clean and modern surroundings.
Despite their success, in recent years McDonald’s has tried to adapt to the changing needs of the market with their broader and healthier menu. And to support this change, they have heavily promoted their new menu in order to keep their strong brand relevant with today’s consumers.
STUDENT QUESTIONS
Outline the reasons why McDonald’s have been so successful throughout the world. (Use both the information in the case and your own knowledge.)
Which ones are the more important reasons?
Which of the reasons that you have identified would be considered to be part of the ‘
Therefore, in your opinion, to what extent have marketing related activities contributed to their global success?
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