Many writers considered that there are four Ps of a successful marketing mix strategy. However, with the passage of time people also included another P in this and now as we see it we have five Ps that are related to the marketing mix. These include: Product, Packaging, Pricing, Placement, and last but not the least Promotion. There are a lot of factors involved, if an organization or a big corporation like McDonald’s wants to develop a successful marketing strategy. First of all, the marketers will have to investigate and research the market accordingly, in the context of McDonald’s Corporation products and service they offer. This research will provide an important vehicle to McDonald Corporation in developing appropriate products, good pricing decision, better distributional channel, and then will help them to reach to their target audience by the means of advertising and promotional activities. All the above decision will help McDonald’s in earning optimal return on investment. However, as we see it today, McDonald’s marketing policies have always been spot-on, ever since it was formed and serving a lone hamburger in 1955. After that, when Ray Kroc took a important decision to expand this restaurant and to make it a global entity through advertising, it was probably the wisest decision ever, that contributed in making McDonald Corporation the most valuable global brand.
The greatness of McDonald’s Corporation lies in the fact that it not only produces standard products all over the world, but it also make slight alterations in line with the diverse cultures of the different countries in order to produce a product that is in concert with the religion, culture, values and trends of the home country in which the franchise is operating in. This respect given by McDonald’s to different culture has clearly ...
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(Marketing Assignment Essay Example | Topics and Well Written Essays - 3000 Words - 2)
“Marketing Assignment Essay Example | Topics and Well Written Essays - 3000 Words - 2”, n.d. https://studentshare.net/miscellaneous/391908-marketing-assignment.
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