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McDonalds Marketing

Extracts from this document...

Introduction

HAUTE ECOLE ICHEC- ISC SAINT LOUIS- ISFSC CATEGORIE ECONOMIQUE HORAIRE DECALE DEUXIEME ANNEE DU BACCALAUREAT COURS DE MARKETING MANAGEMENT : TRAVAUX PRATIQUES McDonald's Pallar�s Garc�a, Juan Ferrer Villacampa, Clara SPANISH ERASMUS STUDENTS ANNEE ACADEMIQUE 2010-2011 Contents Index: 1) Introduction: 1.1) Business model 1.2) Suppliers 1.3) History 1.3.1) Advertising themes 1.3.2) General advertising 1.4) Customers perception and expectation 1.4.1) Meeting the needs of the key Audience 2) SWOT Analysis: 2.1) Strengths 2.2) Weaknesses 2.3) Threats 2.4) Opportunities 3) Competitive advantages 4) Market research and Marketing mix 5) 4 P'S Marketing mix + People 5.1) Product 5.2) Price 5.3) Place 5.4) Promotion 5.5) People 6) Identification of marketing strategies 7) Conclusion and recommendations 8) Bibliography references 1) Introduction: McDonalds is one of the best known brands worldwide. This project shows how McDonald's continually works to build its brand by listening to its customers and it also determines the various stages of its marketing process. Branding creates a personality for an organization, product or service. It represents how consumers regard the organization and it only works when an organization behaves and presents itself in a consistent or unchanging way. Marketing communication methods, such as advertising and promotions, are used to develop the colours, designs and images which provide the brand its recognizable face. At McDonald's this is represented by its familiar logo: the Golden Arches. In all its markets, McDonald's faces competition from other businesses. Additionally, economic, legal and technological changes, social factors, the retail environment and many other elements affect McDonald's success in the market. Marketing involves identifying customer needs and requirements and meeting them in a better way than competitors. In this way a company creates loyal customers. The starting point is to find out who the potential customers are because not everyone will want what McDonald's has to offer. The people McDonald's identifies as likely customers are known as key audiences, which will be analyzed later. ...read more.

Middle

-Technological, structural and financial assets of a company are excellent market position which helps in the Competitive Advantage. In this aspect, we have to point out that McDonalds do not have problems with structure, technology and finance, so it has helped it to increase their benefits and to improve the general level of the company. After 2003 the company has really started to concentrate on its greatest advantages. -Most of all the greatest advantage is the vision or the dream with which the company was started. Maintaining this dream over the years is a really important advantage at any company. Usually the brand is really important to achieve this dream and it is also a great competitive advantage. As for McDonalds, it was created with the idea of helping people who had very little time to cook or was too busy to get into a proper restaurant. The objective was to provide quick service, cheap products and quality satisfaction. To sum it all up Competitive Advantage means implementing the best strategies of the company by using all the advantages which make a company unique and that cannot be copied by other competitors. McDonalds is an example of a company with competitive advantage. In the fast food business, McDonalds it is well known all over the world due to its brand.. It is a successful company because they have great advertising and they are consistent. They are innovators in their industry by creating revolutionary ideas such as the $1 menu and introducing healthier lines of food such as salads and wraps to appeal to the changing tastes of consumers. They recently came out with a new premium coffee line that is taking business from Starbucks because it is much cheaper. It is a powerful company that consumers have come to know and trust and they have the power to change as tastes change. This keeps their competitive advantage alive. ...read more.

Conclusion

In the case of McDonald's, we strongly recommend the company to keep on innovating and developing new strategies which enables them to continue being the fast food market leader. These innovative strategies should not just be focused on new hamburgers but it is important that they position themselves in new market segments to attract new clients. This last point can be achieved by continue introducing the new concept of McCaf� restaurants where customers are offered with a huge variety of coffees and cakes to enjoy in their comfortable sofas and quite atmosphere so that they can relax themselves or even use its free Wi-Fi internet connection service. This is a great change, as customers do not only have their meal quickly and leave but instead they can rest and enjoy other kind of products afterwards. Another example of moving into new segments can also be in the form of meeting the needs of vegetarian people. Actually, they have already introduced vegetarian menus in some countries but it is a trend which is being lately demanded by more and more people and that in our opinion should be brought to more restaurants by previously checking with fast surveys for example. At the same time, they should also continue innovating to present new products at their restaurants, such as: ice creams, milkshakes, salads, kebabs, fruits, new chips and drinks etc. In this way, they will attract an increasingly number of potential customers who will value the huge product variety. We additionally and finally suggest that they strengthen publicity or advertising to keep showing their image through the mass media in order to revive the huge potential. We also think that the home delivery service is a key point which franchises should develop to get closer to its clients. This service could perfectly allow McDonalds to know much more their customers by the introduction of opinion surveys for example. As a consequence, their needs can be pursued and fulfilled in a much more precise way. ...read more.

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