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Marketing Strategy of McDonald US

   

Added on  2020-01-23

11 Pages3375 Words49 Views
MARKETING 1
Marketing Strategy of McDonald US_1
TABLE OF CONTENTSTABLE OF CONTENTSINTRODUCTION ..........................................................................................................................3TASK ..............................................................................................................................................31. The new product and service introduced by Mc Donald's ......................................................32. Strategic marketing objectives.................................................................................................43. Marketing strategy for relaunching BBQ Pulled pork.............................................................54. Organizational Marketing Strategies.......................................................................................6Conclusion.......................................................................................................................................8REFERENCES..............................................................................................................................102
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INTRODUCTION Marketing is a type of communication between organization and its customers with theobjective of offering products and services to them. The main aim of marketing process is tocommunicate the worth of brand to widespread customers and induce them to make purchase. Itfurther involve four key variables, product, price, place and promotion which are also refereed as4Ps of marketing. It involve important functions like, advertisement, pricing, packaging selling,distribution, product management etc. The marketing process help company in generatingawareness about its products and maintain strong relationship with them. In this report, variousaspects of marketing will be studied in the context of Mc Donald's. It is leading chain ofhamburgers and fast food products incorporated in US since 1940 (McDonald's to overhaullunch menu and introduce pulled pork. 2016). At present, the brand is providing its services tomore than 68 million customers every day in around 119 countries. In this report, descriptionabout new signature collection introduced by brand will be provided. TASK 1. The new product and service introduced by Mc Donald's Mc Donald's is largest chain of fast food restaurants that is best known for itshamburgers, French fries, chicken, deserts, smoothies etc. The vision of company is to becomeleading fast food chain across the globe. Thereafter, the mission statement of company highlightsthe earnestness of brand to provide best customer experience by ensuring offering of hygienicsurroundings, continuously improved offerings and prompt services. It further enjoy corecompetency in terms of offering service in not more than 1 minute (Jobber and Ellis-Chadwick,2012). To maintain the strong reputation in different markets, Mc Donald's introduce newproducts and services. This further help in meeting the curiosity of customers with products ofbrand. In this respect, Mc Donald's has redeveloped its lunch menu by introducing new itemslike, pulled pork, barbecue, sweet chilli and hot peri peri chicken wrap (McDonald and Wilson,2011). The pulled pork is a new flavoured dish that will be introduced for the first time in marketby the brand. At present, the company is offering a limited range of chicken wraps by extendingits product range, brand will be able to attract more and more customers. In the customer needassessments, company have ascertained the carving of pork dishes among consumers. Therefore,3
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by introducing a pork based breakfast wrap, brand will be able to cater the emerging needs ofindividuals. Further, to encourage the sales of its products, Mc Donald's will improve its tableservices along with it, self service kiosk will be introduced where customer can place their ordersthrough touch screen etc. this will increase the convenience as they will have to wait for thewaiter for placing the order. However, Mc Donald's is likely to face tough competition from itsmajor rival, KFC which is also dealing in same segment, with identical kind of products. KFChas got first mover advantage as pulled pork was introduced by it year 2014 while MCD plannedthe dish in year 2015. Therefore, to ensure the success of product at present, it is important forentity to ensure proper product planning and development. 2. Strategic marketing objectivesMarketing objectives refers to a group of goals which are set by McDonald's whilepromoting its product to its potential customers. McDonald's marketing objective for BBQPulled pork wrap is to increase product awareness among its targeted consumers and providinginformation about features of product (Mcdonald's. 2016). McDonald's is focusing on deliveringthe services on time because customer don't have much time. Objectives of launching Pulledpork wrap are as follows:Providing high standard food to customers: McDonald's aims to provide high standardfood to their customers by offering them a range of product (Lee and Kotler, 2011). This willexcite both new and existing customer by having product of good quality. The company has theaim to provide good quality of food to the customers through which they can feel good whileconsuming the food.Quick services: McDonald is also working for providing fast and good services to theircustomers. As customers doesn't have much time to wait for getting a service. Throughlaunching this product McDonald's wants to offer quick and fast services to its customers. Market growth: Launching new products will always attract customers through whichMcDonald's can raise their market share which will lead in increasing market share. Marketpenetration policy is adopted for increasing market share of McDonald's, which involved inselling new products in the same market (De Mooij, 2010). This will help in attracting newcustomers also. Product differentiation will always gives high market share to company, byrelaunching the wrap McDonald's offers a new range of product to its customers. 4
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