McDonalds Marketing Strategy in the World Assignment

McDonalds Marketing Strategy in the World - Assignment Example It was established in 1955 in Illinois, USA. McDonalds has become one of the most successful restaurant chains and largest hamburger food chain in the world. After successful business in United States, it expanded its operation overseas by opening its first overseas outlet in Canada.† Currently, $6 billion McDonalds serves about 64 million international customers each day with more than 33000 franchises operating in 121 countries. After every three hours, a McDonalds franchise is opened somewhere in the world. The average expansion rate of Mc franchises is 2500 store per year (McDonalds 2011). General Globalization Perspective and Marketing Challenges Going global requires a firm to set certain strategies that earn it success around the world. The firm has to accommodate in its product or services the cultural, religious and social values of the region it operates in. Some firms or industries get more benefit from global markets than operating locally. Globalization provides to the firms the factor cost differences, by exploiting which they can become more profitable. It also encourages businesses to shift towards the low tariff charging countries where the cost of doing business is low and/or demand for certain products is high. And due to societal and cultural benefits, the companies have more chances to bring innovation into their products. The global expansion brings efficiency, flexibility and innovation in a firm’s production system (QuickMba 2010) The firms which go global develop certain strategies to efficiently capture the overseas markets and cope with potential problems they might face operating there. They also develop Marketing Strategies to position in minds of customers the positive, tempting and healthy image of their products. Marketing strategy of a firm intends to correct what the customers feel about the organization. It deals with positioning the unique features of the product in customers’ minds. When the product a com pany offers is not liked by or is against the local, cultural, religious or social values, the marketing of the product becomes a difficult task and most of the times the products are altered up to the desire of the local demand to be accepted easily. So a great care is taken while marketing in different countries. McDonalds Marketing Strategies McDonalds is one of the best known brands worldwide. McDonalds’ dynamic business strategies made it leading global foodservice retailer in international market. Due to sound global expansion strategies and effective management, McDonalds leads the fast food restaurant industry through out the world. McDonalds sales are three times ahead of its top competitors. What earned McDonalds such image is how it has created loyalty in its customers through its marketing strategies throughout the world. With the combination of sound fundamental practices and innovative marketing, McDonalds has created a unique value to customers (McDonald 2008) McDonalds operates in about 121 countries of the world. This expansion includes Europe, Japan, China, India, Russia and other substantial markets. The following discussion will contain the specific strategies McDonalds practiced in its substantial markets. McDonalds marketing strategies in UK UK has been a very significant market for McDonalds since its launch in 1974 there. McDonalds operates in UK with more than 1000 restaurants and has gained substantial fast food market share. McDonalds followed various policies to gain an edge in the market by shaping the brand as British as possible. Marketing the McDonalds, not just the products For McDonalds, primary marketing objective was not marketing the food. Rather it emphasized on