McDonald’s has today become a global phenomenon. The company that was founded in the 40s today is a leading name in the fast-food industry. What started as a small hamburger outlet in the US has now turned into a multinational franchise.
It took a lot of years of hard work and strategic planning to make the company a leader in the global market.
Today we will tell you about the four Ps that the brand has implemented to ensure success in the long run.
1. Constant Product Innovation
McDonald’s has always prioritized product innovation as its best marketing strategy. The fast-food chain did not limit itself to offering burgers and fries but has introduced a variety of options that the customers can choose from.
From flavored fries, a huge variety of burgers to cold and hot beverages, McDonald’s offers so much more.
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 the food available to its customers, McDonald’s has also ensured that it grows with time adapting to the latest trends and requirements.
Despite having its own delivery app and website, McDonald’s partnered with various online delivery apps like Uber Eats, Zomato, Swiggy, etc.
2. Accessibility and Place
The brand has launched different food themes in different countries as well. Today, if you travel to Japan you can get to enjoy a teriyaki flavored burger and fries.
Similarly, in India, to cater to vegetarian customers, McDonald’s launched a range of veg burgers, Mc Aloo Tikki being the all-time favorite.
Diving into cultural diversity across the globe has always been an advantage and a priority for the brand. This has always enabled McDonald’s to remain people’s favorite to date.
The brand has also ensured that its customers do not have to look for long to enjoy their favorite meal. As per Statista, McDonald’s operated and franchised a total of 39,198 restaurants worldwide in 2020 in over 119 markets.
3. Promotion & Marketing Strategy
From the time McDonald’s was first launched, the brand has always cashed in the quality of food that it offers. People have always been a fan of the burgers and the word of mouth was enough to make the brand a sensation in the initial days.
However, with time, the company has ensured to used various channels to market the brand. From famous taglines to the mascot everyone knows, McDonald’s has always been the leader of marketing.
‘I’m Lovin It’ has become the most legendry tagline ever created.
Ronald McDonald, the primary mascot of the fast-food chain was introduced in the early 60s. Since then, he has been the most loved mascot a brand has ever had. The initial television commercials of McDonald’s featured Ronald in the fantasy world where every child was happy.
It was a dream for every child back then to be a part of that fantasy world.
Moreover, the iconic golden arches of McDonald’s have always been something that brings a smile to our face when we are traveling on the road and the sign appears. That is how well the brand has marketed itself over the years.
https://youtu.be/3Ou8WmrZ0Pw
Today the company has collaborated with many international celebrities to place itself globally.
The company earned a revenue of $ 19.2 bn for FY 2020, which was a decrease of 10.1% YoY due to the pandemic.
4. Affordable Pricing
McDonald’s has always been considered an affordable fast-food chain. Not just in India, McDonald’s burgers come at very affordable prices globally.
However, a low-cost strategy is not the only strategy that the brand follows. When you visit a McD outlet, you might have noticed that the employees would advise you to buy a combo instead. They would tell you how you can add a soft drink at a lower price along with your burger and fries.
This is what is called bundle pricing which the company follows very religiously. The motive behind the discounted combos is to increase the number of sales which only adds to the company’s profit.
