BusinessMarketing Topic: This was the very first Mcdonalds restaurantwhich all started in San Bernardino, California in when Ray Kroc approached the McDonald brothers with a business proposition to start a new company. Jim Skinner had to clean up a big mess after the slump, and did so by coming up with a strategy to turn everything around.
This case study includes: The corporation franchises, operates and develops a global network of restaurants, that each sells a limited menu of value foods.
Popular menu options include the Quarter Pounder, Big Mac, Happy Meal, Egg McMuffin and Chicken McNuggets, as well as a large range of other menu options including fries, chicken sandwiches, salads and sundaes at reasonable prices that the majority of people can afford. The corporation is well known for its fast service and for its efforts in recent years to diversify its menu range to make their options more appealing to a larger number of customers.
Additionally there are external factors that can affect the company which need to be taken into account. Situational analysis is a very important tool for the investigation of effective marketing strategies in business. As such, SWOT analysis is a commercial strategy and tool used for decision making purposes, which gives a company the necessary depth of analysis with which to fully understand its own internal characteristics, as well as relevant external factors such as market environment, consumers and competitors, to allow the company to enact the most suitable strategies.
The company is able to deliver interesting new products and services, including the McCafe which offers a sit-in and drive-thru cafeteria service.
In Shanghai and Beijing for example there are a number of spicy food options available.
The corporation knows that this industry is very much a service industry, and they appreciate that the relationship between customers and staff is important.
Advertisements are bolstered in China with key endorsements, such as with the Chinese basketball player Yao Ming. Outlets are placed in areas of high footfall, areas that are easily accessible to the consumer and areas that have an optimum demographic.
The country offers a prime opportunity for expansion, and more outlets could be opened with satisfactory market share. The number of Chinese citizens with expendable incomes is increasing, and incomes are rising with a growth in the Chinese middle class.
This adds to the changing lifestyles of people in China, which is changing the peoples eating habits and making them more open to Western cuisine and fast good. Opportunities will increase further as more people embrace Western culture.
This convenience is something that could be capitalized on. China has an ageing population, and this presents opportunities for products such as tea, coffee and confections, and other types of food and drink that are popularly consumed by middle-aged and elderly citizens.
Burger King also has a very strong brand identity, and is likewise known for its innovations and ideas. As such, any fast food company needs to establish competitive advantage to obtain a large market share.
The fast food industry has exploded in presence and popularity in China in recent years. These two corporations have the highest number of outlets, though competition from other fast food companies is increasing, including companies such as Burger King, Pizza Hut, Mos Burgers JapanStarbucks, California Beef Noodle King and Yoshinoya.
Each has their own share of the market and their own way of attracting the customer, and market share is mainly defined by food categories. Most fast food companies offer the usual options such as hamburgers and chicken, while a smaller section of the market offers Pizza, Mexican food and sandwiches.
Regardless of the company or establishment, the current general trend is to serve a large variety of different foods and to cater for the many different preferences of the Chinese consumer base.
Given how tough this industry is, fast food companies must think of ways to differentiate themselves to gain an edge over the competition and be clearly recognized by the market. The aforementioned weaknesses do pose a number of threats.
While the company is popular and readily recognizable, offers high rates of customer service and has high rates of customer satisfaction, owns strategic locations and has an excellent promotional strategy, these strengths will be diminished if the core products of the company are not appealing enough to a wide range of customers.
Its core products are burgers, so the corporation should focus its efforts on improving the quality and taste of these products, before adding new options to the menu.Hence, from colleting all relevant background data, the organization is able to find out its abilities and limitation (Strengths and Weakness) in order to develop and minimize external factors in the market place (Opportunities and Threat).
There are many ways of analyzing a business.
Perhaps one of the best ways to do this is by creating a SWOT – that is, Strengths, Weaknesses, Opportunities, and Threats -- analysis. Chapter 1: This chapter includes the introduction and background or history of McDonalds, strengths and weaknesses of McDonalds and the opportunities and threats faced by the company.
Port Manteaux churns out silly new words when you feed it an idea or two. Enter a word (or two) above and you'll get back a bunch of portmanteaux created by jamming together words that are conceptually related to your inputs..
For example, enter "giraffe" and you'll get back words like "gazellephant" and "gorilldebeest". Identification of Strengths, Weaknesses, Opportunities and Threats of the Community-based Forest This paper concerns identifying the strengths, weaknesses, opportunities and threats of Community-based Forest Management (CBFM) program in Leyte Province, A short presentation of the background of CBFM and definition of SWOT was.
SWOT is an acronym for Strengths, Weaknesses, Opportunities, Threats. Information about the origins and inventors of SWOT analysis is below. The SWOT analysis headings provide a good framework for reviewing strategy, position and direction of a company or business proposition, or any other idea.