The paper "The Core Marketing Concepts of McDonald's" is a wonderful example of a Marketing Case Study. The marketing concept is a simple and spontaneous philosophy that allows companies to achieve their goal that is based on the need and wants of the consumers and giving satisfaction more than the competitors do. The marketing concept holds that sales does not entirely depend on involving sale force, but mostly on consumer’ s decision to purchase a specific product (Peter and Olson, 2005). Due to this, companies are forced to produce products based on the needs and the preferences of the target market in order to make profits.
There are a number of successful companies that use marketing concepts, one of them being McDonald’ s. We can define a market as a medium that makes it possible for buyers and sellers to interact for the exchange of goods and services to take place. A segment is a component of any organization that results in a generation of profits and revenue. It can be described as an identifiable group of people that share identical needs in a homogenous market.
This essay will evaluate McDonald's in relation to core marketing concepts and other aspects. How McDonald’ s Use Marketing Concepts McDonald’ s is one of the companies that utilize marketing concepts successfully in its operation. The mention of “ fast-food restaurant” brings McDonald’ s in many people’ s minds as it is the largest foodservice company in the world. It has very strong brand equity that enables it to have a competitive advantage. The success of the company is attributed to the way they satisfy their customers. McDonald’ s has over 30000 food outlets serving more than 47 million people every day in 100 countries (Rigga, 2000).
The company has incorporated high standards of quality, hygiene, service, and value. McDonald’ s adapt to consumer preference changes. It realizes that its target markets have differing cultures and values founded on nationality and religion. To cater for all religions and values, the company offer products according to the country’ s preferences and taste. For instance, in Indonesia, halal meat is used and no pork is sold. McDonald’ s is able to assess its product and service quality through constant customer surveys that cut down on cost and increase values to the customers.
In addition, McDonald’ s has similar quality service and standards in all its food outlets (Herberberg and Rieple, 2008). This offers friendly and hasty services to the target market. Understanding the needs, wants and tastes of the customers is a crucial role that builds and maintains customer relationships. This is what McDonald’ s base its business on (Pradhian, 2007). In terms of market, McDonald’ s targets young families with children, business customers, and teenagers. Each customer segment has different reasons for coming to food outlets.
Using the three main customer segments, the company can tailor communications to meet the needs of particular groups. It is the segment needs that determine the location, promotional activities, prices and type of services and goods offered. In doing this, the customers feel appreciated and this has led to the expansion of the target market.
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