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The Golden Arches

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Introduction

The Golden Arches With operations in more than forty countries, an advertising budget unmatched by any other single brand, and more retail outlets than any other merchant, McDonald's is perhaps the most recognized trademark in the world. Defined as a world cultural icon by many, McDonald's has revolutionized the world, bringing about a whole new concept of fast food eating about enjoying the whole eating process with fine dining. With the successful expansion of McDonald's into many international markets, the company has become a symbol of globalization and the spread of the American way of life. McDonald's, the world's largest restaurant chain, has more than 30 000 restaurants over 120 countries. Its annual global sales are fast exceeding US$100 billion and it has been doing very well financially. The world is very supportive of this corporate giant, a global icon that many love. Its recognizable visual images are the Golden Arches and the happy clown dressed in yellow, Ronald McDonald. ...read more.

Middle

McDonald's proved to be a leader in using differentiation strategies. When the kids say they want a hamburger, french fries, and Coke - parents make the buying decision as to where to go to fulfill their request, most likely based on price. Therefore, McDonald's marketing executives placed a $0.50 toy in with the hamburger, French fries, and coke, and called it the Happy Meal, then marketed it to the kids. "There's only one place you can buy a Happy Meal. And that's at McDonald's." Said Warren Greshes, one of the world's most motivational keynote speaker. Greshes sees this as a very successful way of differentiating McDonald's from other fast food competitiors. "They've taken competing on price right out of the picture," says Greshes. "They bring you quality, convenience, service, and value - and they make you feel like you are getting a break in your hectic day." Having a global orientation in its strategy, McDonald's has been able to sell its halal products very successfully to the Muslim consumers in Malaysia and Indonesia. ...read more.

Conclusion

Today, companies engaged in delivering pizzas, processing insurance claims, or selling toys benefit from the kinds of systems that Ray Kroc pioneered. Making McDonald's Corporation a franchising company which relies on franchising as a predominant way of doing business has managed to play a big role on its success as a whole. By enforcing rigid standards of quality, service and cleanliness among his franchisees and suppliers, Kroc revolutionized the food service industry in the United States. But by also giving his franchisees enormous freedom in marketing, he kept McDonald's fresh - and at the same time created a franchising model that scores of other chains now emulate. McDonald's is indeed a global icon; distinctive, or rather, representative of the Western fast food culture. Though some may argue that it is only a western cultural icon, but one has to admit that McDonald's has indeed made a great impact on our lifestyle, the world in general. Its creation, has brought fast-food onto a whole new level, making it part of our lifestyle. The Golden Arches is certainly a golden icon. ...read more.

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