Marketing Mix
MKT421
May 8, 2013
Marketing Mix
When two brothers, Maurice, and Richard McDonald founded the company in1937, little did they realize the magnitude their idea would develop into over-time and how it would change dining out. The brothers were innovative and developed the assembly line techniques and food processing in a drive-in restaurant in California. However, Ray Kroc, a milk shake salesman, was the visionary, who saw the potential of the brothers’ idea and vision and jumped on the opportunity to purchase the rights to McDonald’s. McDonald’s Corporations has always come out on top in managing the company when the economy is going through hard times (Vignail, 2006).
Over the years, since its inception, McDonald’s has led the fast food industry changing its products, promotions of its product to fit current customer trends. They secure the best locations, and pricing is competitive within the fast food industry. Currently operating in119 countries and 30,000 restaurants, McDonald’s strategy difference by county, product, pricing, placement of location, and promotion of products all are contingent on market trends and tweaking the company’s marketing mix to stay in the game. It is the most recognizable symbol in the world. McDonald’s is a master at developing its product-line to suite current marketing trends around the world.
The Four P’s are parameters that can be controlled by every company once it learns how this marketing strategy works and McDonald’s and done well at developing its strategy.
Product
The goal of McDonald’s, to provide a product that no matter where it is in the world, if there is a McDonald’s, everyone knows what to expect and what it is going to taste like, though because of cultural differences the menu may carry what is considered standard menu items. In China you can purchase a Mashed-potato burger (two beef patties, mashed potatoes, lettuce, pickles, and onions on sesame seed bun. If you visit...