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Mcdonald's Product Strategy

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Product Strategy
A product is anything that can be offered to the market to satisfy need or want. Our objective is to make ourselves as a great place to eat, where customer can count on mouthwatering food. The strategy will emphasize on the strength of our product. We will position ourselves as aggressive and innovative company that supplies the market with high quality food stuffs. Our main focus will be customer retention for that we are ready to serve customers best from our side. We will establish our kitchen as a trusted contaminant-free space where customers needing gluten free food can dine easily. In product development, a company’s product strategy is based upon its business strategy. Product strategy begins with a calculated vision which points to:
• Where a company wants to go
• How it will get there
• Why it will succeed

Product Strategy relates …show more content…

If in the not-so-distant past a mediocre product could be successful because of smart marketing or an aggressive advertising campaign, today’s situation is altogether different. High quality performance together with exceptional user experience are almost always the necessary conditions for achieving market leadership. Innovative and exceptional products are the result of product strategy adopted by a company during a methodical process, during which product policies are characterized and development directions are defined.
Innovation and inspiration for company products two to four years down the line are generated as an integral part of a company’s business strategy. The process of formulating product strategy can last anywhere from a few weeks to a few months. It involves research, analysis, characterization, and generating innovative concepts for the company’s subsequent products (or a specific category in the company). It also provides insights vis-à-vis existing company products.

Development of

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