Let me begin by asking the question “which company has the tagline, “I am lovin it” you guessed it right its Mcdonalds, the worlds fastest growing fast food company with more than 32,000 restaurants spread across the globe serving more than 58 million customers daily was started in the year 1940 by Dick and Mac Mcdonalds. According to 2012 BBC report Mcdonalds Corporations is the second largest private employer behind walmart giving work to more than 1.9 million employees.
source: google images
So how did Macdonalds managed to make it so big?
The answer is Mcdonald Marketing research strategy marketing research gives a clear and crtical idea about its cutomers and competitors which is pretty much essential for a successful venture, it also answers several key questions like…will the customers like my product?…what should be my target audience and so on..this will help to determine and plan new stargies for achieving spell bound results. The following image depicts the importance of having marketing research.
souce : google Image
Moreover every day Mcdonald comes up with new and innovative techniques with a primary aim to fullfill the customer objective such techniques which not only attracts the customers but also forces them to try their new innovation, this food chain is well known for its chiken nuggets,Big mac and Mcafes or Maccas which help the cutomers to have a nice ice cold beverage or an ice-creame, Adding to that giving fancy toys to the children for every meal is an another inconspicuos way of marketing by introducing such techniques upgraded the fast food restaurant to grow into good food fast. (Gupta.S 2009)
Previously when Mcdonald started their was no chicken nuggets or a Mcafe to serve the people it was primarly based on hamburgers, but due to changing demands of the cutomers Mcdonald had root its innovation to various other eataries. But however, as we all know every book has another side various reports and research have again and again drawed us to the same conclusion i.e. is the food worth enough?. buying a fast food from Mcdonald do not shoots up a hole in the pocket but the point is it worth it?… Behind the closed door of such restauarnts there is a unimaginable story one can think of, the toys they give to childrens is like a chain in the dog neck which forces the children to be a life long customers.(Chatterjee.C 2014).
The price of burgers,fries and nuggets sounds cheap but one has to pay a really big price in the coming future. In order to prepare the food fast lot of processed oil is used in the making along with lot of sugar and salt which just adds up from junk food to junkier. According to a recent survey one out of every three person is obese in U.S. (Chatterjee.C 2014).
Check the video below by Bryan Marcel a food expert who gives his review about the food of Mcdonald.
Lets talk about its optimistic side, inspite of having all these irregularities how and why is Mcdonald growing so big, the following are the six ingredients of Mcdonalds success
- Franchising : 80% of McDonald’s eateries are franchised; in Australia, this extent is 66%. Franchising empowers McDonald’s to saddle singular ability and exertion, while as yet holding control of its image, menu and pricing.
- International expansion : Mcdonalds is huge it is spread over 118 countries and has been in the business for more than five decades helped to earn goodwill across the globe.
- Worldwide but local : It is basically a multicultural giant adapting the menu to suite the local markets For e.g some Mcdonalds provide beer to the customers while in India where Hindus dont eat beef Indian menu has vegetarian as well as non-beef options.
- Low prices : Even though the food of the Mcdonalds is considered unhygienic by several experts its low prices pulls millions of cutomers to its doorway everyday.
- Free wifi : Several of Mcdonald store provide free wifi to its cutomers, wifi not working back home where else can a person go in other than Mcdonald it is not unusual to see people using laptop or tablets for doing their daily office works with a cup of coffee beside them.
- Tie up with media and sponsorship : Mcdonald have been a active partner with media giants like Disney and woolies and also has firm interests in sponsoring several stage shows which attracts a whole lot of youngsters.(Philips. S 2012).
This provides another example about how an efficient market strategy can overcome all the hindrance in the business and continue to achieve its success and glory.
References :
(Chatterjee.C 2014). Behind the closed door of such restauarnts there is a unimaginable story one can think of, the toys they give to childrens is like a chain in the dog neck which forces the children to be a life long customers.
(Chatterjee.C 2014). In order to prepare the food fast lot of processed oil is used in the making along with lot of sugar and salt which just adds up from junk food to junkier. According to a recent survey one out of every three person is obese in U.S.
(Gupta.S 2009). Adding to that giving fancy toys to the children for every meal is an another inconspicuos way of marketing by introducing such techniques upgraded the fast food restaurant to grow into good food fast.
(http://www.slideshare.net/gsaklani/a-market-research-on-mc-donald-restaurent) According to 2012 BBC report Mcdonalds Corporations is the second largest private employer behind walmart giving work to more than 1.9 million employees.
(Philips. S 2012). The six ingredients of Mcdonalds success
(https://www.outsource2india.com/kpo/articles/market-research-importance.asp) Importance of marketing research.
Justin Jacob
username : jjacob003
Student Id: 216034001
T2 2016 MPK732 MARKETING MANAGEMENT (CLUSTER B) 