McDonald’s: Build your own burger – social co-creation as recipe for success McDonald’s in the Netherlands was being threatened by the increase of similar fast-food restaurants along with low emotionally involved consumers that were affecting their overall brand image. The consumer decision-making process is very complex; there are a number of various ‘factors affecting each and every purchase decision’ as stated by Nayeem and Casidy (Nayeem & Casidy, 2015). This report will explain how McDonald’s strategy has improved brand closeness with their current consumers whilst simultaneously generating sales. Question 1 Different people have different perceptions and value towards products; involvement theory looks into the level of personal relevance between a product and the consumer, understanding what influences their purchase decision and the amount of resources they are willing to dedicate during the process. Jaeger and Macfie (Jaeger & MacFie, 2010) states, ‘if a product is personally relevant to consumers, they are more likely to become involved in gathering information about the product and with the product itself’, this level of involvement is measured as high or low.
kudlerKudler Fine Foods Brian Terry MKT 421 October 24, 2011 David Rubenstein Kudler Fine Foods For an organization to be successful in the 21st century, organizations know the importance of marketing research. Marketing research is defined as “a process of defining a market problem and opportunity, systematically collecting and analyzing information and recommend actions” (Armstrong & Kotler,p. 199, 2009). The goal of marketing research is to reduce risk and uncertainty. Organizations use the five- step marketing research approach to recommend to the organization what is needed, what will sell what the consumer wants, and knowing competitive intelligence.
The company’s core philosophy of growth is to drive growth through innovation. | Kellogg has a strong focus on strengthening its brands through advertising and consumer promotion. | 5. SWOT analysis (Kellogg Company, 2012) Strengths | Weaknesses | “Strong brand portfolio aided by appropriate investments on brand building” | “Frequent product recalls could hamper brand image” | “Focus on product innovation helps to retain customers and improves the product mix” | “Geographic and customer concentrationcould impact sales during tough economicconditions” | Opportunities | Threats | “Acquisition of Pringles to offer platform forproduct and geographic expansion” | “Increasing private label penetration could impact the company’s volume sales during economic uncertainties” | “Emerging health consciousness would drivethe demand of the company's products” | “Intense competition and changing global retail scenario” | “Local focus to drive sales in developing and emerging markets” | “Declining world cereal production could tighten raw material supplies”
The company has dedicated itself to the preservation of resources as well as conducting business worldwide using the highest ethical standards. The company makes a difference within communities around the globe due to its understanding of the cultural differences that exist in the various markets. McDonalds is dedicated to the long-term business goals of the company including such measures that will better serve the community. This paper will examine the dedication McDonalds has made to establishing themselves amongst the leaders as being Corporate Responsible in its business ventures worldwide. As mentioned in the Jacobs text, working together with natural principles of development, expansion, sustainability, and correction, people can create more prosperous economies that are more environmentally sensitive than before.
I have a background in construction and land development and whenever we are looking at starting a project there is always someone asking “Where are we going to put the McDonald’s”. You know they are imbedded in our culture when you find two restaurants with blocks of one another on the same street. I believe the momentum started by the introduction of the Big Mac in 1968 has catapulted McDonald’s into a standard for our ever evolving pop culture. Item 2: Item 3: I would pose the question, “Are McDonald’s and the other fast food restaurants in the industry responsible for the obesity problem that is happening in America right now?” Could a court of law find them legally responsible in such a left winged society? Living in such a vain and commercial society affects every aspect of life in America, even our diet.
Environmental is the examination of the external factors that could sway an organization on their strategic management planning process with their internal factors. The environmental scanning process can help an organization find the latest styles that will help the organization grow. Our team is comfortable with understanding the environmental scanning process because we understand that this process helps an organization analyze their strength, weakness, opportunities, and threats to help make every effort to improve (Wheelen & Hunger, 2014). A business strategy is a strategy that emphasis on helping an organization with their competitive position within its industry. The important business competitive strategies are lower cost strategy and differentiation strategy.
In order to reach its goal of regaining the competitiveness in the industry, a restaurant management system must be implemented. Abate Restaurant Manager is an engagement, analytics, and tableside ordering platform that brings Saleforce.com, world class customer focus, infrastructure to the restaurant industry. This system offers lots of features like inventory management, manager monitor, point of sale table management, etc. which will all boost competitiveness and productivity of the
The role of promotion within the marketing mix for a selected product/service of McDonald’s An effective Marketing Mix including all 7 is a way of identifying a business’s achievements of marketing objectives, meeting customer needs, is balanced and consistent, creates a good advantage and matches business resources. It is known as a ‘mix’ because each ingredient affects the other and the mix must overall be suitable to the target customer. The 7 p’s including: product, price, place, packaging, people, process and promotion. -> Product: This is first considered in the marketing mix as it all depends on it. This can be a physical product or a service that the business is offering to the people.
Their array of menu options continue to evolve and change to meet the diversity of consumers. It is clear that the one primary difference between the two restaurant philosophies is specialization vs. broad range appeal. McDonalds, with its deft of product offerings has embraced the idea of producing and selling whatever products the customers wants. Five Guys' seemingly has identified a market niche and continues to serve it with high quality product, providing customer service and support sought after by their clientele. 2.
According to Pearce and Robinson (2011) by thoroughly developing and exploiting its expertise in a narrowly defined competitive arena, the company achieves superiority over competitors that try to master a greater number of product and market combinations. As stated in their Declaration of Interdependence: “Whole Foods Market is a dynamic leader in the quality food business. We are a mission-driven company that aims to set the standards of excellence for food retailers. We continually experiment and innovate in order to raise our retail standards”(Whole Foods Market, 2012). Through identified niche markets, WFM can leverage some of their customary strong points by recognizing innovated uses for current goods using market penetration.