Marketing mix of McDonald’s
Marketing mix and consists of various elements in the following way, which form the backbone of the company, the economic system and thus contributes to the achievement of marketing objectives. Marketing mix of services for McDonald's is as below
McDonald places a strong emphasis on developing a menu that customers want. Market research defines exactly what it is. However, customer requirements change over time. In order to meet these changes, McDonald's has introduced new products and phased out the old, and will continue to do so. McDonald knows that the menu item depends on its popularity. Their ability to generate profits will vary at different points in the cycle. The McDonald's India has a diversified range of products focusing more on vegetarian products, like the majority of consumers in India are primarily vegetarian. Happy Meal for kids is a great seller among others.
The customer’s perception of value is an important determinant of the price charged. Customers draw their own mental picture of what a product is worth. A product is more than a physical item; it also has psychological connotations for the customer. The danger of using low price as a marketing tool is that the customer may feel that quality is being compromised. It is important when deciding on price to be fully aware of the brand and its integrity.
The promotions aspect of the marketing mix covers all types of marketing communications One of the methods employed is advertising, Advertising is conducted on TV, radio, in cinema, online, using poster sites and in the press for example in newspapers and magazines. Other promotional methods include sales promotions, point of sale display, merchandising, direct mail, loyalty schemes, door drops, etc. The skill in marketing communications is to develop a campaign which uses several of these methods in a way that provides the most effective results. For example, TV advertising makes people aware of a food item and press advertising provides more detail. This may be supported by in-store promotions to get people to try the product and a collectable promotional device to encourage them to keep on buying the item. At McDonalds the prime focus is on targeting children. In happy meals too which are targeted at children small toys are given along with the meal. Apart from this, various schemes for winning prices by way of lucky draws and also scratch cards are given when an order is placed on the various mean combos.
- Place, as part of the marketing mix, not just the physical location or distribution points. It includes a number of management processes in bringing products to the final consumer. McDonald points are very evenly throughout the city makes it very accessible. Drive and drive through the options to make McDonald's more convenient products to consumers.
