McDonald's is the world's leading foodservice retailer with more than 30,000 restaurants serving nearly 46 million people in more than 110 countries each day. In the UK, McDonald's and its franchisees employ 70,000 staff in 1235 restaurants. This is McDonald's 30th year of operating in the UK.'
Those infamous golden arches have come a long way since being established in 1940 by Dick and Mac McDonald. Ray Kroc, credited with the chain's global ambitions, bough the rights in 1955, he developed the brand and created the McDonalds Corporation.
Throughout this study I am going to evaluate the marketing strategies being pursued by McDonalds and identify the market dominance, which has lead to McDonald's being on of the most successful multi-nationals to date.
Effective marketing has enabled McDonalds to create a worldwide demand for fast food.
The aim of marketing is to make selling superfluous. The aim is to know and to understand the customer so well that the product or service fits him/her and sells itself!'
Peter Drucker, Cited in Marketing Concepts & Strategies p6
The underlying principle of marketing is that to be successful, a business needs to satisfy their customers so to increase the likelihood of repeat custom. To ensure this, the business needs to construct an appropriate marketing strategy to fulfil this criterion.
McDonald's has an exceptional understanding of these aspects within there marketplace, as McDonalds do not offer a product for every type of consumer they attempt to identify groups of customers, defined as a market segment', this is a band of people in the case of McDonald's these will be defined demographically for instance...
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...he years has been a success. The constant evolution of the marketing mix has enabled McDonalds to remain a dominant feature throughout the fast food industry. The use of celebrity endorsement is one key factor which has lead to McDonald's marketing strategy being so successful, this helps distinguish themselves from competitors such as Burger King and KFC and remain the market leader in the fast food retail industry.
Dibb, S., Simkin, L., Pride, W.M. & Ferrell, O.C., 2001, Marketing Concepts & Strategies, Houghton Mifflin, Boston, New York
Lines, D, Marcouse, I & Martin, B, 2003, A-Z of Business Studies, GreenGate Publishing Services