FUNDAMENTALS OF MARKETING

Fundamentals of Marketing



Fundamentals of Marketing

Introduction

McDonald's is the world leader in food service restaurants with more than 30,000 fast local serving nearly 50 million people in 119 countries each day. Today the company is celebrating its first 50 years operating in this industry with a global presence and maintaining its leadership among competitors. It is one of the most recognized and valuable brands and holds a leader in the casual dining market in each of the countries where they have business. In addition to the McDonald's brand, the company also operates other restaurant chains under the names of the Boston Market and Chipotle Mexican Grill. The success of McDonald's is built on a structure of staff working with professional integrity. Hundreds of millions of people throughout the world rely on Mc Donald's. The confidence of people make every day by serving safe food, respecting customers and employees, as well as providing quality, service, cleanliness and value in daily operation.

Marketing Goals and Objectives

In recent years, McDonald's has found success in market sales and traffic growth. This strategy will continue for the future objective of McDonald's. McDonald's brand mission is to "Be our customers' favorite place and the way to eat. In order to meet the demands of their mission statement McDonalds offers many items on their menus. Their products are designed and altered to fit the needs of their customers in that particular area. For example, in in Asia McDonalds offers the Ebi-Filet-O and in India they offer the Chicken Maraja Mac because they don't eat beef. Each restaurant cooks their food in regards to freshness, quality, and precision cooking. When pricing McDonald's food items, profit isn't the only determinant of the final cost. McDonald's has to make sure that the customers feel that the product is worth what they pay. If they place a price on the item that is too low, customers feel that it is of low quality. If the price is too high McDonald's will likely go to a competitor. Finally McDonald's makes it their goal to understand their customer's needs. When they promote a menu item through media such as radio, TV or print advertisement, they display benefits that customer s want. This creates a need for the product so customers remember the item. The next time they are hungry and searching to eat they will remember their advertisement (Curphy 2008, 151).

Customer Environment

Current and Potential Customers

McDonald's customers consist of people ranging from children to adults. People of all ages enjoy their food daily. With so many locations across the world, it makes McDonald's easily accessible. Many of their customers have small children who influence their parent's decision for eating McDonalds. They attract these types of consumers mostly because of their family friendly environment, which includes play facilities and their kid friendly food options. It's easy for people with large families to afford McDonalds because of their prices and dollar menu. When parents can get a reasonably priced meal and their kids ...