Diversification strategies by McDonald’s in McDonald’s corporation analysis include the incorporation of internationalization. Regarding diversification, McDonald’s has set its sights on Asia, with the hope of adding more than 1,500 new restaurants. Furthermore, the company wants to add more restaurants in China, Hong Kong, and South Korea. Additionally, there are already has more than 2,800 worldwide McDonalds restaurants located in the three markets put together. In its largest market, the U.S., McDonald’s has over14,000 restaurants and generates some 32 percent of its global revenue. The company’s CEO said that the Asian market would accelerate McDonald’s growth and scale faster across diverse markets. In conclusion, diversification strategies by McDonald’s in McDonald’s corporation analysis have had a positive impact on the company.
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MCDONALD’S CORPORATION’S MARKETING MIX IN MCDONALD’S CORPORATION ANALYSIS
McDonalds Corporation’s marketing mix is essential in McDonald’s corporation analysis. The marketing mix defines the strategies and tactics that a company uses to reach target. McDonald’s has corporate standards that its marketing mix applies globally. McDonald’s has a product mix composed mainly of food and beverage products. Worldwide McDonald’s restaurants are where the company generates most of its sales revenues, thus the place mix. The promotional mix defines the tactics that the business uses to communicate with customers. McDonald’s uses a combination of Bundle pricing strategy and Psychological pricing strategy in the price marketing mix. Lastly, the marketing mix in diversification strategies by McDonald’s in McDonald’s corporation analysis has led diversified product lines.
DIVERSIFICATION STRATEGY AND THE WORLDWIDE MCDONALD’S RESTAURANTS
Diversification strategies by McDonald’s trace its roots to businessman Ray Croc. Ray Roc was associated with the rapid growth of the fast-food retail chain in the US and globally in subsequent years. McDonald’s controlled many of its self-operated and franchised restaurants globally, managing all operations, as well as quality control. Analysts felt that the erratic electric power supply would pose a challenge to the functioning of the worldwide McDonald’s restaurants. The challenge was due to the entire information systems relying on the power supply. To solve this problem, McDonald’s developed Information Systems to maintain and leverage the customers’ information across the globe. Finally, diversification strategies by McDonald’s in McDonald’s corporation analysis include the incorporation of information systems.