McDonald's today has become a global phenomenon. The company that was founded in the 1940s is today a leading name in the fast food industry. What started as a small hamburger outlet in the United States has now grown into a multinational franchise.
It took many years of hard work and strategic planning to make the company a world market leader.
Today we tell you the four Ps that the brand has implemented to ensure long-term success.
1. Constant Product Innovation
McDonald's has always prioritized product innovation as its best marketing strategy. The fast food chain not only serves burgers and fries, but offers a variety of options for customers to choose from.
McDonald's offers much more than flavored fries and a wide variety of burgers to cold and hot beverages
In fact, the brand has established itself as a one-stop destination for all age groups and offers something for the entire family.
To make food available to its customers, McDonald's has also ensured that it grows over time adapting to the latest trends and requirements.
Despite having its own delivery app and website, McDonald's has partnered with various online delivery apps like Uber Eats, Zomato, Swiggy, etc.
2. Accessibility and Place
The brand has also launched different food themes in different countries. Today, if you are traveling to Japan, you can enjoy a teriyaki-flavored burger and fries.
Similarly, in India, to cater to vegetarian customers, McDonald's launched a variety of veg burgers, and Mc Aloo Tikki being the all-time favorite.
Diving into cultural diversity around the globe has always been an advantage and priority for the brand. This has always allowed McDonald's to remain a people's favorite even now.
The brand also made sure its customers do not have to look for long to enjoy their favorite meal. According to Statista, McDonald's operated and franchised a total of 39,198 restaurants worldwide in 2020 in more than 119 markets.
3. Promotion & Marketing Strategy
From the time McDonald’s was first launched, the brand has always cashed in the quality of the food it offers. People have always been a fan of burgers and word of mouth was enough to make the brand a sensation in the early days.
However, over time, the company secured the use of different channels for brand marketing. From famous slogans to the mascot everyone knows, McDonald's has always been a leader of marketing.
‘I’m Lovin It’ has become the most legendry tagline ever created.
Ronald McDonald, the fast food chain's main mascot, was introduced in the early 1960s. Since then, he has been the brand's most beloved mascot. The initial television commercials for Ronald McDonald's appeared in a fantasy world where all the children were happy.
It was a dream for every child back then to be a part of that fantasy world.
Also, McDonald's famous golden arches have always been something that makes us smile when we walk down the street and the sign appears. That is how well the brand has marketed itself over the years.
Today, the company has partnered with many international celebrities to place itself globally.
The company generated $19.2 billion in revenue in FY 2020, a 10.1% year-on-year decrease due to the pandemic.
4. Affordable Pricing
McDonald's has long been considered an affordable fast-food chain. Not only in India, McDonald's burgers are very affordable worldwide.
However, the low-cost strategy is not the only strategy the brand is pursuing. When visiting a McDonald's outlet, you may have noticed that the staff advises you to buy a combo instead. They will tell you how you can add a soft drink at a lower price along with your burger and fries.
This is called a package price that the company follows very religiously. The reason for discounted combinations is to increase the number of sales, which only adds to the company’s profit.
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