McDonald’s Marketing Strategy
McDonald’s is an American fast-food company that was founded in 1940 in the United States. The company was first founded as a restaurant but was later converted into a fast-food company with branches across the world. The organization’s marketing mix is characterized by different strategies and techniques used to run the operations.
McDonald’s Products
As noted earlier, the organization is specialized in fast food and beverage production. Numerous types of output are produced by the above organization that covers the marketing mix. Among these products provided by McDonald’s organization are hamburgers and sandwiches, salads, chicken and fish, snacks and shakes, beverages, breakfasts, and MacAfee. Although the above organization is responsible for providing diverse goods and services, the sale of these products is enhanced by the established brand or the corporate image. Previously, the firm was only known for the production of burgers. However, its business operations have expanded, leading to its product mix. Currently, McDonald’s customers have an opportunity to purchase other types of food products such as fish and chicken and breakfast meals. The introduction and sale of the new products were impacted by its brand or cooperate image.
Place/Distribution
For McDonald’s, restaurants are the main places for product distribution. However, just like many other organizations, the above firm utilizes the 4P strategy in their marketing. The main places for product distribution are restaurants, kiosks, and through websites and applications.
Promotional mix
Many ways are used by different firms to communicate with their customers. Communication is a vital marketing strategy that can attract new customers, provide new information regarding the company, or introduce new products to the consumers. McDonald’s utilizes many tactics in the promotional mix, such as sales promotion, direct marketing, advertising, and public relation.
Prices and pricing strategies
Prices are vital in business organizations as they determine the profit margin generated by the company. McDonald’s utilizes a combination of bundle pricing strategy and psychological pricing strategy. In both approaches, the prices of commodities and the volume of sales impact profit margin.