Accurate research is essential for creating the right marketing mix that would win consumer loyalty and increase sales. Furthermore, they study the eating habits, the social increase or decrease in expenses, competition best sellers and location strategies, as well as technological advancements for food production and packaging. Market research considers everything that affects buying decisions. These buying decisions can often be affected by factors wider than just the product itself. Psychological factors are important, e.g.
The aim of marketing efforts deployed by organization would be to understand consumer demands and fulfill them through development of desired products and services (Blas, 2012). Marketing activities are important in order to understand consumer needs and fulfill them profitably. Below are the steps which are used by the organization such as McDonalds to reveal consumer desire and fulfill them: Analysis of current situation: For McDonalds in order to make expansion in Asian and other potential markets it is important to analyze current situation prevailing in these markets through tools such as 5C’s, SWOT analysis, industry analysis, PESTEL analysis and others. This would help in order to get a fair idea on the market which company is doing to serve (Jobber, 2010). Development of marketing strategy: Understanding market’s present situation would help McDonalds to develop the marketing strategy which can be deployed by the organization in order to attain their marketing objectives.
A. McDonalds: Strength 4. A. I. Global brand McDonald 's has a well-established global brand that appeals to all age groups and customer segments (Brennan, 2007). In 2008, McDonald 's figured at the eighth place in the top 100 global brands ranking of Business Week magazine and Interbrand, a branding consultancy. It valued McDonald 's brand at $31,049 million in 2008 (Datamonitor, 2009).
Costco also makes a point of tailoring each of its stores to the local culture by seeking out local retailers and providing local cuisine (The Costco Craze). Furthermore, Costco learns to tackle socio-cultural issues such as culture, language, attitudes, and values by globalizing (Costco’s Global). This will make their company more successful in the long run because they will have various business models on how to conduct themselves in other countries. They are also able to reduce transaction costs such as product and shipping costs by gaining access to more products and by searching locally for suppliers (The Costco
Whole Foods Market should open stores in those countries and regions and seek future growth and profitability. Furthermore, the company can search for partnership opportunities with restaurants. They can be their supplier of seafood, meat, etc. Finally, Whole Foods Market, being the leader of the natural and organic movement in the United States, should sponsor and fund studies and researches that investigate the long-term health consequences of eating foods that are high in preservatives, hormones and other additives. This can help the company promote its mission, which is to educate people on the benefits of eating healthy and provide them with the highest quality natural
McDonald’s is the largest fast food restaurant chain in the United States and represent the largest restaurant company in the world, both in terms of customer served and revenue generated. In 2014 IBISWorld market research estimated MCD held an 18.6 % of market share of the entire global fast food industry; Burger King in at just 4.6%. Under franchising visionary Ray Kroc, McDonald 's became the world 's premier food brand by selling the rights to operate a McDonald 's store. With this model, MCD keeps overhead costs down and lets local owners deal with individual units, while food costs remain low and service remains fast for a culture increasingly on the go. As a low-cost provider, McDonald’s offers products that are relatively cheaper
For example, McDonalds sell 2.5 million Big Macs a day globally ( major impacts of globalisation to Marketing management). While McDonald’s endeavours to provide comparatively consistent products across all Global markets, Globalisation also impacts marketing management. The company does this by acknowledging that throughout the world there are unique cultural tastes. While McDonald’s provides a standard name, logo, operation processes and most menu items, there are local alterations. In adjusting certain products, McDonald’s is in a better position to meet the needs of its customers in a global market.
The process of segmentation also helps identify new opportunities. McDonald will need to use than one level of segmentation criteria to identify the customer needs and wants. McDonalds built McCafe, McDelivery, McDonald 24 hours and else to offering their best service to their
Next, direct e-mail marketing is a market strategy that will direct send the advertisement to the specific or interetsed users. It is a very different from spam. In this information is sent to only those people who have expressed at one time or other an interest in receiving the message from the advertiser. For example, after a customer purchased the foods from McDonald’s and leave a feedback or comment to McDonald’s by using e-mail, Mcdonald’s will improve their operation based on the comments. But in the same time, McDonald’s will send the online advertising video or promotion letter to that customer’ e-mail in order to create interaction with customer.
Therefore, considering this global trend fast food industry is an important industry. An estimated 52.4% of the overall global fast food market is being dominated by American brands. According to Hamisah (2007) the Malaysian fast food industry is dominated by U.S brand companies such as McDonalds, Burger King, Pizza Hut, and Domino and so on. Fast food outlets have been well developed in most of the industrialized countries all over the world. By the year 2007, fast food restaurants represent one of the largest segments of the food industry with over 200,000 restaurants and $120 billion in sales in the U.S alone (Hoovers, 2007).