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Mcds

In: Social Issues

Submitted By amyjackss
Words 718
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To make sure customers are satisfied, the McDonald’s Marketing Department by analysing in detail:
1) Which products are well received
2) What prices consumers are willing to pay
3) What TV programmes, newspapers and advertising consumers read and view
4) Which restaurants are visited
McDonalds analyse different changes in order to predict how buying habits may increase or decrease:

McDonald’s takes into consideration of important psychological factors e.g. the image a particular product conveys or how the consumer feels when purchasing it.

McDonald’s believe that these psychological factors are of significant importance to the customer. They can be even more important than the products’ physical benefits. Through marketing, McDonald’s establishes a prominent position in the minds of customers.

Meeting the needs of key audiences

McDonald’s are aware that to build a long-term business, it is essential to retain people once they have become customers. Customers are not all the same. Market research identifies different types of customers. For example:

European sales figures at McDonald’s were sluggish for years in the early 2000′s– and the reasons for this was to do with the companies’ global marketing strategy. The company generates about 30% of its total profits from the European market, with around 1,200 stores operating within Great Britain. In 2005, sales were down 0.7% while the American market grew by 4.7%

Challenges: McDonald’s conducted research in their European markets to find that the fast-food industry was changing in many ways that the company’s stores had not anticipated and were not adapting to. Some of the major problems the company faced were as follows:
Changing consumer taste preferences in the British and European fast-food market
Outdated store designs and facilities
Increased threat from competitors (both new and

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