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. Company would look at the different segments present in the market, segment which company want to target and positioning which would be used for targeting that segment of
For example, Samsung Smartphone can do some research or survey of what is the currents needs and expectations for the smartphone. Besides, in the customer side, we can by sending email or survey about after buying the Samsung Smartphone is it satisfaction. In conclusion, as a marketing manager, I need to balance about the relationship between the marketers and the customer how they regard about the topic of customer value and satisfaction and
McDonalds Stakeholders McDonalds has many franchises around the world. The first franchise was opened in 1967 in Canada over the years it has spread all around the world and there are now more than 1000 franchises around the globe McDonald’s aims are. McDonald’s aims are to provide a fast, friendly service but they also like to make sure their customers are getting good value for money on the food as well. The Stakeholders. Employee.
This is known as SWOT analysis - strengths, weaknesses, opportunities, and threats. McDonalds provides for these needs for different groups to insure pleasure and customer satisfaction thus maintaining their customer needs. Second of all, McDonalds study their competitors diligently. The study what products they have that are well received and what prices consumers are willing to pay. Accurate research is essential for creating the right marketing mix that would win consumer loyalty and increase sales.
The marketing mix of McDonalds consists of the various elements in the marketing mix which forms the core of the company’s marketing system and hence helps to achieve marketing objectives. The marketing mix of McDonalds shown here discusses the mix as it is delivered in India, but this is very similar to the mix applied in most countries in which McDonalds has a presence. Product McDonald’s places considerable emphasis on developing a menu which customers want. Market research establishes exactly what this is. However, customers’ requirements change over time.
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 implementation of a universal idea made the company become one of the biggest fast-food brands. The strategy of bold business approach employed by Kroc led to the success of the company in the global market (Reiman2013). With globalization as their top concern, the business strategies needed to be altered. Currently, McDonald’s Corporation has established several branches worldwide. Over 121 countries provide the services with an approximate of over 30,000 restaurants running globally (Mirabile 2007).
But their major focus is on advertisement and sales promotion. (MEYER, McDonald’s Marketing Mix (4Ps) Analysis, 2015) McDonalds distributing strategy: McDonald’s restaurants are the most prominent places such as main road, commercial areas, malls, airport, and residential area. McDonald’s sell its products through restaurants, kiosks, website and McDonald’s mobile app. McDonald 's restaurant is operated by a franchisee, an affiliate, or the corporation itself (MEYER, McDonald’s Marketing Mix (4Ps) Analysis,
So, there was an anomaly among customers to buy VW cars. Secondly, the company also grappled with the problem of low brand awareness (a mere 9%) among the consumers. There was a wrong perception in the minds of consumers that the Volkswagen cars were not suitable for Indian conditions. Lastly, there was also a underling issue as to whether the strategies of DDB Mundra was actually successful in differentiating VW from the competitors or not. To cope with the problems of brand awareness, the company can implement an advertising initiative that connects Volkswagen with relevant culture such as endorsing a Bollywood celebrity or by becoming a lead sponsor of a sports tournament.
“Cognition” in the other hand is how consumer thinks, such as their beliefs about that particular product or service. It involves of thinking, understanding, and interpreting stimuli and events. And also it includes the experiences customer has in their memories, remembering past events, forming evaluations and making purchasing decisions ad choices. For example, Samsung often advertised their product to people for having a advance features of the phones to gain consumers’ knowledge and so that the consumer purchase their phones. Next element is “Consumer Behavior”, behavior is the physical action of the consumers that can easily observe and noticed by others.