The paper "Market Trends - McDonald's Fast Food Outlets" is an outstanding example of a marketing assignment. The paper will look at the organisation that I work in that is McDonalds Fast Food outlets. The company has been successful in many countries including Australia. The company has its share in the Australian and international markets. Therefore, there is a need to look at the market trends, growth rate and potential new markets. Market Trends McDonald's is one of the most successful fast food outlets in the world and it has a large market share in Australia.
This market share has been reducing in the recent past because of increased competition. Customers have been moving towards fast-casual restaurants which is a great threat to the fast-food business. The fast-food business is becoming popular among youth and teenagers because they don’ t like cooking and they like snacks very much. The company has been stable because of its innovation strategies which have to ensure that the company remains profitable in the fast-food industry. The industry has become so competitive and customer tastes and preferences are changing and, this calls for changes in strategies so as to maintain the customers (Baines, Fill, & Page, 2010). Potential new markets The company needs to venture into new markets as a way of increasing its sales and market share.
The company needs to concentrate more on the young people especially university students and working young people who don’ t like cooking from their own places (Baines, Fill, & Page, 2010). The company also needs to expand to cities where it has no outlets as well as increase outlets in the cities where it has operations.
The company also needs to introduce new products in their menu so as to ensure they cater for their customer needs. These are the new potential markets the company can invest in. Question 2 SWOT Analysis Strengths Good reputation, the company has great strength in that it is an internationally recognised company and, therefore, it is highly trusted by many people. People tend to prefer to have products of a company that is well for its high-quality production. This helps the company to continue attracting customers.
Baines, P., Fill, C., & Page, K., (2010). Marketing. New York: Oxford University Press.
Bilton, C. (2007) Management and Creativity: From Creative Industries to Creative Management. London: WileyBlackwell.