4p's of Marketing
The 4p’s of Marketing
Company of Focus: McDonalds
Abstract
Arguably, it can be acclaimed that the McDonald’s Corporation acts as a proxy, representing the heights and successes of 20th century commerce. In contemporary times its quite clear to assess and sight that McDonalds has ascended and reached a status over the past century that warrants recognition as probably the most successful brand of our time with its ubiquity and prevalence around the world. Currently rated number 1 fast-food restaurant with good measure. This paper seeks to categorize and evaluate the fundamental facets that has made McDonald’s so successful with particular focus on its Marketing strategies (4p’s), feasibly its de facto mechanism that has allowed it to capture the majority of the Fast-Food industry market share. McDonalds acts as an appropriate template for the execution of Neil Borden’s famed 4p’s of marketing conception, given its success around the world with the image of the Golden Arches etched in the minds of people all over the world.
Brief Background
McDonald’s has grown to become the largest fast food chain (emphasis on hamburgers) in the world with a plethora of branches all over the world reaching about 119 countries and averaging a service of around 68 million customers daily (Yahoo Finance, 2012). Dick and McDonald opened their eponymous burger stand in 1948 in San Bernardino, California. Under the guidance of Ray Kroc, a one time milkshake-mixer salesman wowed by the restaurant’s success, McDonalds franchises grew swiftly: by the end of the 1960’s, there were more than 1,000 across the U.S. The first international franchise opened in 1967 in British Columbia, and was followed by another in Costa Rica later that year (R.James, 2009). From there, the chain spread steadily: over a six month period in 1971, Golden Arches popped up on three new continents, as stores launched in Japan, Holland and a suburb in Sydney. Reaching its sixth continent in
Company of Focus: McDonalds
Abstract
Arguably, it can be acclaimed that the McDonald’s Corporation acts as a proxy, representing the heights and successes of 20th century commerce. In contemporary times its quite clear to assess and sight that McDonalds has ascended and reached a status over the past century that warrants recognition as probably the most successful brand of our time with its ubiquity and prevalence around the world. Currently rated number 1 fast-food restaurant with good measure. This paper seeks to categorize and evaluate the fundamental facets that has made McDonald’s so successful with particular focus on its Marketing strategies (4p’s), feasibly its de facto mechanism that has allowed it to capture the majority of the Fast-Food industry market share. McDonalds acts as an appropriate template for the execution of Neil Borden’s famed 4p’s of marketing conception, given its success around the world with the image of the Golden Arches etched in the minds of people all over the world.
Brief Background
McDonald’s has grown to become the largest fast food chain (emphasis on hamburgers) in the world with a plethora of branches all over the world reaching about 119 countries and averaging a service of around 68 million customers daily (Yahoo Finance, 2012). Dick and McDonald opened their eponymous burger stand in 1948 in San Bernardino, California. Under the guidance of Ray Kroc, a one time milkshake-mixer salesman wowed by the restaurant’s success, McDonalds franchises grew swiftly: by the end of the 1960’s, there were more than 1,000 across the U.S. The first international franchise opened in 1967 in British Columbia, and was followed by another in Costa Rica later that year (R.James, 2009). From there, the chain spread steadily: over a six month period in 1971, Golden Arches popped up on three new continents, as stores launched in Japan, Holland and a suburb in Sydney. Reaching its sixth continent in