Essay on Marketing Strategies Of Mcdonald 's And Fast Food Industry

Essay on Marketing Strategies Of Mcdonald 's And Fast Food Industry

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The McDonald’s Corporation case study take a comprehensive look into the competitive market of the fast food industry. Particularly, McDonald’s and some of it greatest fast food competitors. In this analysis I will be revealing the marketing strategies of McDonald’s and other fast food companies. Identifying the trending tastes of consumers in this market, tactics used by McDonald’s competitors such as Wendy’s and Burger King to one up the marketing strategies of McDonald’s. I’ll also be assessing the strength, weaknesses, opportunities and threats of McDonald’s in this market segment. Evaluating the consumer purchase decision process and purchase type in the food industry. Lastly, I’ll explore which growth strategies I believe would make the biggest profits for McDonald’s and expand their reach in the food industry.
According to the case study a large number of fast food industry market segment customers are exploring other fast food alternatives such as sandwich chains, prepared meals that can be found in supermarkets, gas stations or convenience stores. People also aren’t eating as much fast food as they did in the past. The millennial generation is more health conscious than the generation before and they are choosing restaurants that serve higher quality food. This shift in attitude has led to the rise of what are considered fast casual restaurants. Fast casual restaurants such as Chipotle, Panera and Jimmy John’s offer meals that are served fast but are more upscale than your traditional fast food restaurant. It has been estimated the fast casual segment in the food industry is growing about 20 percent a year. The growth of the traditional fast food sector is only around 2 percent, “people are willing to pay a couple extra...

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.... There are social influences, marketing influences, situational influences that all play a role in the consumer decision making process. Most people who are decide to purchase McDonald’s is doing what is considered routine decision making. People purchase McDonald’s out of familiarity, convenience and because it is inexpensive. The average McDonald’s customer is said to be a single, working class male, in his mid to late 20’s. In my opinion in order for McDonald’s to continue to dominate the market share they are going to have to diversify their brand. I believe they could accomplish this by expanding on the McCafe brand as a separate restaurant chain in the fast casual market. They could serve higher quality food, offer customers a great dining experience with a top notch dining facility and a menu that is competitive with a fast casual chain such as Panera Bread.

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