* McDonalds is one of the best known brands worldwide. It is world’s leading food service provider with 31,000 restaurants serving in 119 countries serving 68 million customers each day.
* Headquartered in the United States, the company began in 1940 as a barbecue restaurant operated by Richard and Maurice McDonald.
* McDonald’s outstanding brand recognition, experienced management, high quality food, advanced operational systems and unique global infrastructure ensure position that enables them to capitalize on global opportunities.
B. McDonalds Marketing Mix (5 P’s):
After segmenting the market, finding the target segment and positioning itself, each company needs to come up with an offer. The 5 P’s used by McDonalds are:
* The product, service or program includes both tangible and intangible elements.
* The tangible, of course, are those things that the customer can see, touch, feel, taste, or smell.
* The intangible include such things as the image of the offering… which includes the image of the organization making the offering, the psychological aspects of pricing (high pricing to many customers is equated with high quality and vice versa).
* This pricing strategy was founded to attract middle class and lower class people and the affect can clearly be seen in the consumer base that McDonalds has now.
* McDonalds has certain value pricing to offer their product much cheaper rate as compared to its competitors like KFC etc.
* Beside that, McDonalds also use bundling strategies such as Happy meal, combo meal, family meal, happy price menu etc to increase overall sales of the product
* McDonald has been 120 countries in the world include 29000 stores.
* In US, nearly 50% of outlets are situated within the distance of 3 minutes. They think...