McDonald's is the global market leader in the fast food industry. Two brothers in San Bernardino, California started the first McDonald's fast food restaurant in 1948; they tailored their drive-in restaurant, as an example of convenience for other restaurants to soon follow. At the beginning, there were only a few items on the menu, which has now substantially evolved to many more options, catering to the appetite of each region's interest of food and health standards. With the modest beginnings of only a few items to choose from on their menu, the McDonald's brothers focused on customer service and hamburgers at a price anyone can afford. Their prices are still reasonably priced for any budget. In 1961, Ray Kroc bought McDonald's with a franchising vision for it to expand, in which he opened a restaurant in Illinois.
Mcdonalds strategy
= Adding 700- 900 restaurants annually
= Using new menu items, low price specials. Extra value meals to promote frequent customer visits
= Being highly selective in granting franchises
= Choosing sites convenient to customers
= Focusing on limited product line and consistent quality
= Careful attention to store efficiency
= Extensive advertising and use of mc prefix
= Hiring courteous personnel, paying an equitable wage, and providing good training
Strategic planning
A strategic planning process delivers a set of defined initiatives (projects) that achieve a desired set of business goals. The planning process involves a definition of these business goals, an assessment of the resources available for meeting these goals, and the definition of specific plans (initiatives) that are designed to achieve the goals. The process usually incorporates a ranking exercise that identifies the highest priority initiatives.
The other strategies that using mcdonalds is through advertising McDonald's has for decades maintained an extensive advertising campaign. In addition to the usual media (television, radio, and newspaper), the company makes significant use of billboards and signage, sponsors sporting events from ranging from Little League to the Olympic Games, and makes coolers of orange drink with their logo available for local events of all kinds. Nonetheless, television has always played a central role in the company's advertising strategy.
The impact of this strategic plan in mcdonald corporation is to protect the security of the customers and to make sure that the customers will satified the services.
References
www.google.com
www.yahoo.com
- ^ McDonald's publication. "Corporate FAQ". McDonald's Corporation. Retrieved on 2007-11-24.
- ^ a b c d Joe Bramhall. "McDonald's Corporation". Hoovers. Retrieved on 2007-11-24.
- ^ McDonald's :: About Us :: FAQ
- ^ MCD 10-K 2007, Item 1, pg. 1
- ^ MCD 10-K 2007, Item 6, pg. 9
- ^ "McDonald's history 1954-1955". www.mcdonalds.com. Retrieved on 2008-06-22.
- ^ "McDonald's history 1965-1973". www.mcdonalds.com. Retrieved on 2008-06-22.
- ^ http://www.mcdonalds.ca/en/aboutus/faq.aspx, retrieved May 08, 2008
- ^ http://www.mcdonalds.ca/en/aboutus/faq.aspx, retrieved May 08, 2008
Created by: Nikki Joy Castaño
Mgt 7 5:15 - 6:15
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