McDonald’s

“We were determined to grow bigger by adding more restaurants as opposed to satisfying customers’ needs,” said Golden. “At the end of the day, customers’ tastes were changing and we weren’t. We weren’t paying attention.” In 2003, McDonald’s unveiled “Plan to Win,” a new business strategy that put the company’s focus squarely back on consumers. As part of that strategy, the company remodeled restaurants, expanded operating hours, improved the ordering process and introduced of a wide range of new and health-conscious menu items including premium salads, gourmet coffees, wraps, smoothies and oatmeal. “We made a conscious statement that we’re going to grow the business by being better, not just by being bigger,” Golden said. “We quickly got back on track with how customers’ tastes have evolved, and we started to satisfy them in significantly different ways than what we had been doing.” Since implementing Plan to Win, company revenues have grown by $7.9 billion, same store sales have increased for eight straight years and the company’s stock price has jumped more than 450 percent. According to Interbrand, the global branding consultancy, McDonald’s is now the sixth-most-valuable brand in the world.

four key target market segments as part of a brand revitalization strategy:
1. Retaining vulnerable customers
2. Recapturing lost customers
3. Identifying neglected segments
4. Attracting new customers

Feference: http://freemanblog.freeman.tulane.edu/freemanmag/index.php/2011/08/mcdonalds-exec-describes-chains-revitalization/ http://www.customermanagementiq.com/strategy/articles/mcdonald-s-former-chief-marketing-officer-larry-li/

By renovation, we mean the continuous improvement of product and service quality. The choice is clear—continuous improvement or continuous decay. During the years preceding 2002, McDonald’s focused on cost reduction, rather than customer experience improvement. The result was the incremental degradation of