BUSINESS DECISION MAKING

Business Decision Making

Background

McDonald in United Kingdom

One of the leading fast food chains in t he United Kingdom in the year 2004 McDonald acquired a value share of around 18.3% leading clearly over its competitors. The company faced a severe downfall in the year 2003, as they were serving unhealthy, non nutritious and greasy food which was increasing obesity and many other health related issues. However the company revised their meals and started introducing healthier menu. In 2006 the company earned rocket sales which singled out all the British restaurants.

Consumer's Decision Making Process in UK

The decision of the consumer to purchase or not to purchase any product is critical for the marketers. Nowadays due to the awareness the consumer's decision making process is mainly influenced by the health and nutritious values the food stuff has. In the United Kingdom over the past years consumers decision making on food has changed to a greater extent. It was because of the change in the decision making that McDonald's initially suffered a loss and then realizing the change, McDonald revised their menu bring nutritious and healthy food to their menu.

Marketing Mix

Marketing mix are said to be the hub of any organization's marketing system which enables the company to achieve the marketing objectives.. The Marketing Mix comprises of the following four P's:

Marketing Mix of McDonald's

Product

The main focus of McDonalds is to develop a menu that is set according to the desires of their customers. This job is perfectly done by the market research team of McDonald. Since the requirements and demands of the customers change with the passage of time therefore, McDonald phases out the old product and try to change their menu by bringing in variety of products in their menu. A proper check and balance is maintained as the sales might not deflect by the introduction of a new product with that of the old one. McDonald is fully aware that the items on the menu card vary in popularity of that product and it is therefore their sales and profit generation will also vary greatly.

For example:

Launching any new product needs advertising support which can be television as well as other media or advertising support. There are certain products of McDonald's that have reached its maturity stage such as Big Mac. On the other hand there are products that are growing and are still in their popularity stage.

Evaluating Consumer Decision Process

McDonald Evaluating Consumer Decision Process acts as a guide or road map through which the marketers of McDonald drive their marketing, communication and sales strategies along with the product mix.

Need of Recognition

McDonald evaluated the need for recognition with the help of buyer's approval, that the product provided by the company has removed the discrepancy and acquired the desired motivational state.

Search Evaluation Purchase Post

The post consumer evaluation is possible through the customer feedback that McDonald takes after providing their product. Any changes in the product or even launching of a new product are measured through the ...