This is aarticle describe the different marketing
mix element and it's importance for McDonalds.
- Product: Products are the range of goods and
organization sells to their customer so as to help them satisfying their
needs and demands. McDonald’s sells a variety of products to its customers
in UK namely, burgers, sandwiches, drinks, deserts etc.
McDonald’s is an organization that functions in the fast food industry,
now taste, preferences etc. of the customers changes frequently, as
competition is very high in this industry thus there may be competitors selling
food of a different taste than McDonald’s and customers may develop the
taste and thereby sop visiting competitors, thus McDonald’s has to keep
its offerings in the form of product regularly updated and develop it
after heavy research so that customers taste and excitement to go to
McDonald’s continues.
- Price: Price is the consideration that an organization
charges for rendering its products and services to the customer.
McDonald’s as we have discussed later in this assignment undertakes bundle
pricing in combination with premium pricing to sell their products to the
consumers.
Now the importance of pricing for
McDonald’s can be estimated from the point that McDonald’s sell mostly snacks
and food items which have huge connection with leisure and pleasure, thus to
have a customer recall value McDonald’s need to price their goods effectively.
- Promotion: Promotion means how an organization
communicates itself with the customers, in other words how does the
organization attract customers to visit them and buy goods from them. For
example: - Environment McDonald’s uses association and heavy
promotions during football matches and even they have a dedicated football
sponsorship, sponsoring different clubs, as UK’s population love there
football thus McDonald’s markets heavily through it.
- Place: Place is the surrounding or the area from where
an organization operates. McDonald’s generally operates from busy places
like malls, highways, markets etc. The basic reason being the place should
be such that customers should be easily able to visit the place.
Now place is again a very important
aspect of business functionality of McDonald’s as the food giant has to see
that the cost of maintain the place and benefits derived in terms of revue and
customer addition is positive or not, also McDonald’s have to also see whether
the place they have decided matches the brand image which is generally fun and
leisure of not.
- Process: Process is generally the activities undertake
to deliver a service to a client or customer. Now for McDonald’s there
preparation process is the process which we will talk about here.
Importance of process is also very
important for a giant like McDonald’s as they have to maintain homogeneity in
the process of serving, preparation and with all this they have to also manage
the cultural and legal needs of the UK environment, like usage of oils
components, health issue prescribed by UK government agencies etc. Thus
McDonald’s has to have a homogeneous process though with a small addition of
country’s needs.
- People: People are everyone who is involved in any
stage and any way to make the organization function as it does. For
McDonald’s generally the people are employees at store, manager who
manages them etc.
- Physical Evidence: Physical evidence means the store
ambience, appearance etc. With McDonald’s one would relate an ambience
which is comfortable, fun loving, lively etc.
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