McDonalds is the leading fast-food business in the international market. McDonalds is spread all over the world with 36000+ restaurants. It is a highly trusted brand among consumers and has very much popularity among children. They do not provide any cultural foods. They provide burgers, shakes, and fries.
McDonalds was started in southern California by two brothers: Dick and Mac. They founded McDonalds in 1940. It was a B.B.Q restaurant. It was a Drive-in type of restaurant. In 1948, they renovated the restaurant and brought a new menu. In 1954, both brothers met a man Ray Kroc and told them that they have interested in opening more franchises of McDonalds. One year later, Ray opened McDonalds in Des Plaines.
In 2019, McDonalds had a 21.4% market share in the fast-food business. The highest numbers of restaurants of McDonalds are in America (13,682), then in China (3787), then in Japan (2923), then in France (1495), then in Canada (1462), and then in Germany (1448). McDonalds has the highest brand value of other fast-food businesses. Its brand value is 129.32B$.
Marketing Strategies of McDonalds
Marketing strategies are a game plan of business that is to turn the consumer into a customer by maintaining the quality of their products. McDonalds have different marketing strategies to attract consumers to their products. They make their menu and products by seeing consumers’ demographics, race, and socioeconomic status. For example, in India, Vegetarian products are more common because of the dominancy of vegan consumers. While in America, hamburgers are famous due to people’s love for this burger. The marketing mix strategies of McDonalds are absolute and successful. That’s why it is the number 1 fast food business in the international market.
4 Ps of McDonalds
Product
A product is always the basis of any business or brand. If a business has a non-demanded product, the business would be a failure. The products of McDonalds are not according to any culture. They are fast food providers. They have a specialty in burgers, fries, and shakes. MacDonald’s is very famous among children. They have special meals, toys, and playing areas for children. The quality of the product is so pure and verified that customers could look at live cooking. McDonalds offers desserts too. They have McCafe for desserts and coffee. Products evolve from time to time according to the needs of people. They try to introduce more new burgers, new shakes, and many, many more things.
Price
The prices of products should be according to people’s range of income. If a business targets only elite or rich people, they can increase their prices according to the quality of a product. Quality should be the priority of any customer. The prices of McDonalds are affordable if the customer is well to do. McDonalds never compromises on the quality of products. That’s why they have slightly high prices. Customers from rural areas cannot afford McDonalds.
Place
McDonalds is located in all the busy places of cities. People from anywhere can reach McDonalds easily. McDonalds also offers food through Drive-Thru. The customer just simply has to come in the car and can take away the food. They also provide food through home delivery. They are also located in shopping malls. They are available in the market as both franchise and company operated. There are 39,198 stores. McDonalds will be located globally at the end of June 2021. The company operated is 2677, and franchise restaurants are 26,521. The U.S. has the most McDonalds in the world.
Promotion
Promotion is very important in marketing strategy. Today, everyone knows about McDonalds due to its promotion. They promoted their products on T.V, on Facebook, on Instagram, and through all other sources of promotion. They also sponsored different things like cricket, football, and many shows. In 2020, McDonalds will spend almost 325.5 million $ on promotions.
Conclusion
McDonalds is the largest fast-food business globally. It has many opportunities to grow more in the market. Their market strategies are great and professional. They are growing day by day. Every person knows about McDonalds by some means. Their quality of food is the key to success. They are located at all places where they should be. They promoted their brand very well. Their prices are above average. McDonalds is a brand that is trusted by millions of people.
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