Description
This document is about the McDonald and it describes the Marketing mix of McDonald.
Marketing Mix for McDonald's
Through its carefully thought out and well executed marketing plan, McDonald's has been able to carve out a market for itself, or rather been able to attract customers to the brand McDonald's, typically imprinted in the target audiences mind by the brands familiar logo – the Golden Arches. Here, we are going to have a look at each of the four different parts that constitute McDonald's marketing mix. Product McDonald's is aware of the fact that products a have life-cycle, and they constantly undertake market research to understand what the needs of the target audience are, what is “IN” and what is not. Thats why they have kept introducing new products, and will continue doing so. Also due care is taken to see that a new product introduced does not cannibalize an existing product. Price There are a lot of factors involved in the pricing of a McDonald's product, namely what is the perceived value of the product in the customers mind, how does the customer feel while buying the product, the prices offered by the competition, the economic conditions prevailing at the time, the perceived demand of the product in the market, etc. Promotion Promotion for McDonald's include a mix of traditionally used methods like TV, hoardings, posters, cinema etc, along with sales promotions, point of sale display, merchandising, direct mail, seminars etc. Also target audience is divided into different categories, and care is taken to reach each and every category through different media sections. For example to reach the children its better to go via TV, hoardings and probably some innovative campaign around schools. Place McDonald's has a franchisee based model, and McDonald's outlets are located generally right in the heart of the city to gain maximum visibility. Shopping malls, cinemas, market places, amusement parks are prime places where there is a high probability of finding a McDonald's outlet. Apart from the outlets, McDonald's also provides take-away and home delivery services. So apart from placing a lot of effort in the franchisee outlets, care has to be taken of the home delivery and take-away facilities also as they too impact the McDonald's brand image.
doc_113650499.doc
This document is about the McDonald and it describes the Marketing mix of McDonald.
Marketing Mix for McDonald's
Through its carefully thought out and well executed marketing plan, McDonald's has been able to carve out a market for itself, or rather been able to attract customers to the brand McDonald's, typically imprinted in the target audiences mind by the brands familiar logo – the Golden Arches. Here, we are going to have a look at each of the four different parts that constitute McDonald's marketing mix. Product McDonald's is aware of the fact that products a have life-cycle, and they constantly undertake market research to understand what the needs of the target audience are, what is “IN” and what is not. Thats why they have kept introducing new products, and will continue doing so. Also due care is taken to see that a new product introduced does not cannibalize an existing product. Price There are a lot of factors involved in the pricing of a McDonald's product, namely what is the perceived value of the product in the customers mind, how does the customer feel while buying the product, the prices offered by the competition, the economic conditions prevailing at the time, the perceived demand of the product in the market, etc. Promotion Promotion for McDonald's include a mix of traditionally used methods like TV, hoardings, posters, cinema etc, along with sales promotions, point of sale display, merchandising, direct mail, seminars etc. Also target audience is divided into different categories, and care is taken to reach each and every category through different media sections. For example to reach the children its better to go via TV, hoardings and probably some innovative campaign around schools. Place McDonald's has a franchisee based model, and McDonald's outlets are located generally right in the heart of the city to gain maximum visibility. Shopping malls, cinemas, market places, amusement parks are prime places where there is a high probability of finding a McDonald's outlet. Apart from the outlets, McDonald's also provides take-away and home delivery services. So apart from placing a lot of effort in the franchisee outlets, care has to be taken of the home delivery and take-away facilities also as they too impact the McDonald's brand image.
doc_113650499.doc