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Marketing Management in McDonalds

Marketing Management in McDonalds

Discuss Marketing Management in McDonalds within the Marketing Management forums, part of the PUBLISH / UPLOAD PROJECT OR DOWNLOAD REFERENCE PROJECT category; McDonalds McDonalds is the world's largest chain of fast-food restaurants. The business began in 1940, with a restaurant opened by ...

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Marketing Management in McDonalds - September 8th, 2010

McDonalds


McDonalds is the world's largest chain of fast-food restaurants.


The business began in 1940, with a restaurant opened by siblings Dick and Mac McDonald in San Bernardino, California


The present corporation dates its founding to the opening of a franchised restaurant by Ray Kroc, in Des Plaines on April 15, 1955


With the successful expansion of McDonald's into many international markets, the company has become a symbol of globalization and the spread of the American way of life


McDonald’s in India


McDonald's opened its doors in India in October 1996

McDonald’s in India is a 50-50 joint venture partnership between McDonald’s Corporation [USA] and two Indian businessmen Amit Jatia’s company Hardcastle Restaurants Pvt. Ltd. & Connaught Plaza Restaurants Pvt. Ltd headed by Vikram Bakshi


Ever since then their family restaurants exist in various cities Mumbai, Delhi, Pune, Ahmedabad, Vadodara, Ludhiana, Jaipur, Noida Faridabad, Doraha, Manesar and Gurgaon



MARKET SEGMENTATION –


Dividing the market into distinct groups of buyers based on demographic, psychographic and behavioral considerations

Benefits of Segment Marketing


Can create / fine tune product for segment


Product pricing done accordingly


Distribution & communication done accordingly


Clearer idea of competition


Bases for Segmentation


Geographical


Demographic


Based on age, income, family size, family life cycle, gender, occupation etc


Most common


Easier to measure segment



Psychographic


Based on lifestyle (ACTIVITY, INTEREST, OPINION), personality, values, attitude



Behavioural – Benefit-core, emotional


MARKET SEGMENTATION AT McDonald’s


When McDonald’s first came to India, after a study and research, identified their target market here – the urban and semi-urban areas


They studied that the crowd in these regions has potential demand for fast food


On further studying the actual desire of the people of the region they re-formulated some of their products using spices favoured by Indians


Among these are McVeggie™ burger, McAloo Tikki™ burger, Veg. Pizza McPuff™ and Chicken McGrill™ burger



MARKET SEGMENTATION DONE ON SET PARAMETERS


GEOGRAPHIC:

- Urban and semi-urban areas across the country on easily accessible locations


DEMOGRAPHIC:


- Age: they have targeted all possible age groups, ranging from children to old people; but their heavy target segment being children


- Income: have targeted almost all income groups including middle class, lower and higher middle class


PSYCHOGRAPHIC:


- Attractiveness: ambience


- Interest: playful atmosphere, happy meal, Ronald McDonald



BEHAVIORAL:


- Core benefit: it mainly satisfies hunger with high quality food with utmost hygiene facilities


- Emotional benefit: The best quality service popularly known as “fast n friendly service”


-Brand Loyalty: Attractive offers and low price menus



- User status: Lower middle class to high class



- Readiness to Buy: Quick delivery, low price and filling and tasty food



- Occasion: be it for something special or just time pass


EXPLAINING BEHAVIORAL ASPECT (Emotional benefit) IN DEPTH


Why would one choose McDonalds over any other place?


High quality service


Great ambience at affordable price


Personal space



Get quality products, served quickly and with a smile, in a clean and pleasant environment; and all at a fair price



McDonald’s Around The World


POSITIONING STRATEGY


“Positioning is defined as the act of designing the company’s offering and image to occupy a distinctive place in the mind of the target market”



In simple words it means what kind of an image we try to set on the minds of our customer through our promotions



Examples: Nike or Addidas; Dove; Big Bazaar; Lux soap; etc



EFFECTIVENESS OF McDonalds POSITIONING STRATEGY


McDonald’s is one of those fast food industries with the most effective positioning strategy



It is evident from:


- Ads: age, price, variety



This in a very strong way creates a good brand image and also helped in creating brand loyalty


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