McDonald's is the world most popular fast food restaurant which began its operation in the year 1971 as a single restaurant in Australia Yagoona. Today, the fast food business has over 900 McDonald's restaurants across Australia and likewise, it has over 1 million customer base in Australia alone. This report will conduct McDonald's market analysis with regards to its targeted market that is the tourist market.
Table of Contents
1. Introduction
2. Summary of Part B
3. Marketing Mix
3.1.Product Strategy
3.2.Pricing Strategy
3.3.Promotion Mix
3.4.People
3.5.Process
3.6.Physical Evidence
4. Recommendation
Research Objectives and Themes
This report aims to conduct a comprehensive market analysis for McDonald's with a specific focus on the tourist market segment, evaluating how the company can adapt its marketing strategy to achieve success within this group.
- Consumer audit and behavior analysis within the tourist market.
- Application and adaptation of the 7Ps Marketing Mix for the tourist sector.
- Product lifecycle management, branding, and nutritional considerations.
- Service delivery standards and the importance of skilled, multilingual personnel.
Excerpt from the Publication
Branding
It is important to note that, McDonald's offers several different products on its menu that usually do not change, For example, the basic cheeseburger and hamburger, the quarter pounder and the big mac. In order for the business to satisfy the tourist market, they will have to develop new products for the tourist market. Similarly, McDonald's can inherit an adaptation strategy (take a product and enhance or modify it to fit the targeted market). The business can modify or change products names for instance; the Big Mac was modified to Maharaja Mac with no beef to fit the locals in India. This also can be done to the local menu in order to fit the visiting tourists.
Summary of Chapters
1. Introduction: Outlines the history of McDonald's and defines the primary objective of analyzing its potential in the tourist market.
2. Summary of Part B: Discusses the necessity of a consumer audit to understand internal and external influences on tourists, including decision-making and market segmentation.
3. Marketing Mix: Details the application of the 7Ps framework—Product, Price, Promotion, People, Process, and Physical Evidence—specifically tailored for the tourist market.
4. Recommendation: Provides strategic suggestions for McDonald's to expand into the tourist sector through financial investment in training and employee development.
Keywords
McDonald's, Tourist Market, Marketing Mix, Consumer Audit, Product Strategy, Pricing Strategy, Promotion Mix, Market Penetration, Service Delivery, Customer Experience, Brand Adaptation, Nutritional Standards, Employee Training, Market Segmentation, Augmented Services.
Frequently Asked Questions
What is the core focus of this report?
The report examines how McDonald's can effectively enter and capture the tourist market segment in Australia by refining its marketing strategies.
What are the primary thematic areas covered?
The work focuses on consumer behavior, the 7Ps of the marketing mix, product innovation, and the enhancement of service delivery standards.
What is the main goal of the research?
The primary goal is to analyze the tourist market and propose actionable strategies for McDonald's to adapt its menu, services, and operations to meet the specific needs of travelers.
Which scientific framework is utilized in the analysis?
The report utilizes the Marketing Mix model, specifically examining the 7Ps (Product, Price, Promotion, People, Process, and Physical Evidence) in the context of the tourist industry.
What topics are discussed in the main body?
The main body covers consumer audits, product life cycles, branding adaptation, packaging, quality control, pricing strategies, and the importance of professional staff.
Which keywords characterize this work?
Key terms include McDonald's, Tourist Market, Marketing Mix, Consumer Audit, Product Strategy, and Service Delivery.
How does the author suggest McDonald's should handle product branding for tourists?
The author recommends an adaptation strategy, where existing products are modified—similar to the Maharaja Mac—to better align with the cultural preferences and needs of visiting tourists.
Why is the 'People' component critical for McDonald's?
The author emphasizes that service is consumed simultaneously with production; therefore, having trained, multilingual staff is essential to meet international standards and ensure effective communication with international tourists.
What is the significance of the nutritional data provided?
The nutritional table serves as a "wakeup call," highlighting the need for McDonald's to consider offering healthier menu options with lower sugar and calorie levels for health-conscious tourists.
- Arbeit zitieren
- Epic Editors (Autor:in), 2018, Mcdonalds Market Analysis, München, GRIN Verlag, https://www.grin.com/document/432870
