Executive summary: o In my research task about fast food franchise I have chosen to do my task on two of the top world leaders in the fast food industry business – Mac Donald’s and Burger king. I am going to discuss and analysis the marketing function by giving theoretical view points on the 7 P’s but going to compare and discuss in full detail the main 4 P’s ( product , place , price and promotion ) between the two franchises I have chosen o Through market research and primary research ( question air on the two franchises and then monitor the responses to make a conclusion) we can see that Mac Donald’s in the world leading fast food franchise across the world and then burger falling under Mac Donald’s as a dangerous competitor. Providing …show more content…
o The very first Mac Donald’s was opened in Des Plaines Illinois in 1955 ( indicated in picture ) o As the franchise started to expand in the local market, in 1967 the Mac Donald’s franchise went international and Japan being their first stop. o In today’s world there is over 32.000 thousands global restaurants available in so many different countries o Vision of Mac Donald’s – ‘’Our overall vision is for McDonald’s to become a modern, progressive burger company delivering a contemporary customer experience’’ and achieving this through providing high quality of food and service and a world class experience to make the customers feel welcomed o Mission of Mac Donald’s –‘’ to become the customers favourite place to come and eat ‘’ o The main objectives of Mac Donald’s is to provide their customers with high quality of food ,quick service and value of money in order to make the customers feel at home o The goal for Mac Donald’s is to get the message out to the public about them implementing healthy food into their menu in order to accommodate certain individuals that prefer that …show more content…
1- Product:
o The product should fit the task that the customers want it for and should operate to make customers to feel content with the purchase. Businesses need to do market research in order to find what product is in demand and take advantage. o A product is an item that is built or produced to satisfy the needs of a certain group of people. The product can be intangible or tangible as it can be in the form of services or goods. o Business need to improve their products on a constant basis in order to stay in line with competitors and make sure sales don’t decline and if they do they need to reinvent in order to gain control again o The product has a certain life cycle with the growth phase , maturity phase and sales decline phase in which the business need to take in account when introducing a product and to know which product is in demand
2- Place:
Businesses need to make sure that their product is available close to target market to make it easy accessible to gain customer loyalty.
They need to position themselves in the correct location in order to maintain sales as customers don’t want to travel far in order to buy the
A huge sum has been invested, so now it is really crucial for the product to succeed. Moreover the current product mix is not sufficient to bring long term profits for the company. As far as short term goals are considered, management wanted a successful launch for the product which will provide the right marketing and target of the new product line. While the long term goals involved adding variety and diversity to the product line to achieve a long term sustainable growth rather than just achieving short term
The Similarities and Differences of McDonald’s and Wendy’s Corporate America has taken a stranglehold on American nutrition and eating habits. McDonald’s food has dominance over the market with its cost effectiveness and availability. In contrast, Wendy’s has superior products with higher prices. While these fast-food giants have a massive place in America, they have their similarities and differences. Wendy’s and McDonald’s demonstrate these traits in cost, diversity, and quality.
Some markets choose to provide the lowest cost possible to their costumers and some of them choose to sell spatialized products to their customers. The SWOT analysis provided useful clues about the future of
KETING STRATEGY A marketing strategy is a process or model to allow a company or organization to focus limited resources on the best opportunities to increase sales and thereby achieve a sustainable competitive advantage. Or it is a process or model to allow a company to focus limited resources on the best opportunities to increase sales and there by achieve sustainable competitive advantages. The marketing strategies of Hilton Garden Inn are as follows. Philip Kotler defines marketing as a social process used by the people, individually or in a group to achieve what they want by the creation or exchanging their product details and their values with others.
Before the product enters the market, there are no sales, as the product is being prepared for the market. There is market research that is being conducted. Introduction stage begins with the launching of the product followed by growth where there is an increase in the market share. When the product reaches maturity stage, the sales are at their peak. At the decline stage, the sales are declining.
1. Supporting point 1: Nowadays we can see these fast food restaurants in almost every shopping mall and there is at least one of these franchised restaurants in each area of the city and still increasing in number because of the high demand. a. Sub-supporting point 1: Although there are lots of choices of food inside a mall, but people often choose fast food as it is affordable and yet it is tasty and filling at the same time. b. Sub-supporting point 2: For example, in the Kuala Lumpur International Airport, there are a lot options of food to choose but the two franchised McDonalds are still always
As people have issues about Mcdonalds’ low food quality toward people’s health. However, there is another important area that we have to consider seriously about is how its system, so-called “Mcdonaldization”has influenced and continuously effecting our society. From the article “McJobs: Mcdonaldization and the Workplace” by George Ritzer, he distributes the idea of how Mcdonaldized system has changed our society into scripted and “programmized” places (Ritzer 1998:140). He has specifically analyzed the McJobs’( job that has been Mcdonaldized) into four elements,which is its efficiency, calculation, prediction and control. As the nature of the world is made of a full of colors, diverse opinions of people naturally exist toward the term
McDonald’s is the world’s largest restaurant chain, serving a total of 69 million people a day at 34,000 restaurants worldwide. While facing a tough competition, McDonald’s has chosen to launch a new product to sustain competitive advantage as well as to attract customers in the ’18 to 32 years old’ range, which they have struggled with up to today. They launched the McWrap on April 1, invented by the 47 years old vice president and executive chef Dan Coudreaut. The McWrap is meant to be a healthier choice than the products McDonald’s are in general known for, as well as to compete with competitors such as Five Guys, Subway and Chipotle. However, people assimilate McDonald’s to junk food unlike the ”Subway buster”.
Stakeholder analysis Stakeholder are entity that will affect the organization actions, objectives and policies. There are two types of stakeholder which is internal stakeholder and external stakeholder. The McDonald’s stakeholders are customers, suppliers, employees, managers, government, local communities and pressure groups. Customers Customers are the external stakeholders of the company, no customer mean zero profit.
KFC uses this research so that to consider being valuable because whenever they want to develop new products and bringing up to the markets, they undergo this research for testing and investigate what their customer’s favourite food and how much they know about KFC Company. Hence, this qualitative research it basically the customer’s opinions. The purpose of qualitative research • To provide specific details to guide or understanding in a particular situation. •
A product is the item that business makes with aim to fulfil the needs and wants of customers. It is also the item that business actually sold to the customers. For our company, our product is the ice cream. (Talloo, 2007, p.154) 6.1.1.1 Product Design- features and quality Our company has designed our products according to the features and quality that all range of customer desires. Our ice cream is made from natural fruits such as
The diagram above shown the CPM of McDonald’s and its competitor, KFC and Burger King; indicates McDonald’s is in a strong strategic position than its competitor. Some of the reasons McDonald’s is successful and has high market is due to it strong brand name recognition, a strong customer loyalty, and its global expansion. Furthermore, McDonald’s is also invested a large sum of money in advertising and very well known toward it charity program through Ronald McDonald’s House. Nevertheless, there are areas in which the organization can improve.
The age factor used by the target market of McDonalds is a family with dual income that does not have the time to prepare their food for their children, the workers who are having lunch and teens. Besides that, according to Schroder and McEachern (2005), global target market fast-food industry account for 79 percent is at age 17-25. The income factor used by McDonald target customers are upper-middle and lower income consumers. The Mac value offered by McDonalds will attract lower class customers to upper-middle customers. McDonald 's lunch meal RM5.95 has improved the product as it is attractive to upper-middle and even lower customers.
Provide good customer service where customers are contacted, when a boat is purchase and a customer care call even having a boat over a period of time. 3. The constant innovation and patenting so customers can get better product each year, because in the marketing industries parts can be copied
Product design can fulfil the demands of the customers and they are willing visit the same company again in the future. Referencing to the words of Vonderembse (n.d.),