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The purpose of the project is to create a marketing plan by determining marketing objectives and strategies analysing market place opportunities and applying marketing principles to add measurable...

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The purpose of the project is to create a marketing plan by determining marketing objectives and strategies analysing market place opportunities and applying marketing principles to add measurable valuable exchange outcomes for customers and the enterprise
Answered Same Day May 09, 2020

Solution

Anju Lata answered on May 22 2020
146 Votes
Running Head: Marketing Plan of Fast Food Services by McDonalds
Marketing Plan of Fast Food Services by McDonalds 10
    
ASSIGNMENT
MARKETING MANAGEMENT
FAST FOOD SERVICES BY MCDONALDS
FAST FOOD SERVICES BY MCDONALDS
INTRODUCTION
The McDonalds is the biggest network of fast food outlets across the world, with stores in greater than 119 countries. The company serves more than 68 million customers on daily basis (Sneha,2014). Started in 1940, the Company operates through the franchise, affiliates and the company’s own stores. McDonalds sells cheeseburgers, Hamburgers, French Fries, chicken, Cold Drinks, Desserts, Milkshakes and other
eakfast items.
The marketing strategy of a company is extremely important in boosting its sale. The restaurant companies invest around 3% of their annual income in marketing (Brewer,2012). Among various different channels of marketing, TV, radio, and newspapers are the most common. Many companies make effective use of social media to elevate their marketing. For example, McDonald’s company sponsored the event of Olympic Games in 2012 as a part of marketing strategy.
Figure Showing Marketing expenditure of Restaurants in 2013; Source: (Jones, 2014)
The marketing expenditure by leading fast-food companies as shown in above diagram shows the McDonalds and Yum! Brands spent relevant amount of revenue on the marketing. The advertisements and
and promotions maintain the image and name of the Company consistently in the minds of customers, increasing awareness about the services of the company.
In every country, the Company has a different marketing strategy identifying and focusing the target population of children, youth and others. In US, the company targets the children in advertisements while in Australia, it focuses children and the adult population (Brewer,2012). McDonalds also uses direct marketing, loyalty schemes, merchandising and door delivery as its means of promotion. The Company plans its strategies by analyzing the preferences of the customers. The company builds loyal consumers by consistently identifying their requirements and addressing them in a better way than the rivals.
MARKETING STRATEGIES & OBJECTIVES
McDonalds outlets are highly decorated to attract the consumer’s attention. The promotions like Happy meals, Lunch McValue, and Set Meal increase the customer's rate to visit the stores (McDonalds,2006). In addition, the Company also delivers its products on demand through online purchasing. The company offers free Wi-Fi at its outlets, which attracts the youth mainly. Continuously there are huge attractive discounts to offer pocket-friendly meal options. Among the unique selling prepositions, the discounts and offers are the most lucrative feature to increase customers’ satisfaction.
The basic strategies implemented by the McDonalds include extensive market research, customers feedback, innovative ideas, estimating the demand of the public, organizing strategies and planning (Sneha,2014).
Business Strategy of McDonalds can be summarized in three attributes: Franchise Model, Consistency in products and the motto of “working like a retailer with the vision of a
and”.
According to franchise model the company owns just 15% of its stores worldwide, all the remaining outlets being operated by the franchise (McDonalds,2006). The company offers efficient training to the franchises and also monitors their operations to provide cleanliness, quality and value services to the consumers. Through a vast network of suppliers and distributors, the company has provided regular upgraded taste and quality in its meals across different countries. In addition to delivering the meals efficiently, the company also focuses on building strong loyal long-term relationships with the customers.
McDonalds launched several “Fast and Convenient” expeditions to re-ignite the sale of company to meet the emerging food industry aptitude and to renew his restaurants and make them
anded, updated and more natural. The aptitude that propelled the growth of company is the inclusion of more calories and cholesterol in the products for the teenagers and offering healthier and natural features like added salad, fruits ca
ot sticks in the menu.
The company changed its name, to re-systematize the value proportion and improve its existing image before the customers (McDonalds,2006). The company hired the services of successful restaurant chains like Noodle and Potbelly by paying a premium over the cu
ent market evaluation. McDonalds created two separate units –one which caters to low calories and low cholesterol consumers and another which caters to local and semi-global portion of world economy. In wake of growing health consciousness, McDonalds is going to introduce new burgers in the menu to
ing some innovativeness. New burgers will be made of wheat flour and organic vegetables will be named as “Veggie in” and it will target to health conscious people.
The market objectives of  McDonalds company is based on Marketing Mix...
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