Friday, January 31, 2020

MARKETING RESEARCH AND INFORMATION Essay Example | Topics and Well Written Essays - 6000 words

MARKETING RESEARCH AND INFORMATION - Essay Example The first McDonalds restaurant was opened in 1940 established its image as a fast and speedy service provider. To date the restaurant is known for its fast service and convenience. McDonald’s revenue is about $ 22.8 billion with operating profits of $3.9 billion (McDonalds 2008). Today the firm has many rivals and competitors yet it has been able maintain its number one position. However, competition is building up and McDonalds does not seem to have a very bright future. It has not been able to develop a product in a decade that would appeal to the masses. Coupled with that, McDonalds entered some wrong markets where the competition already existed with full force leading the firm to close down its operations in those markets (McDonalds 2008). Also, McDonalds has been blamed for causing obesity amongst children and have been charged with lawsuits also. With the changing needs and requirements of the market, McDonalds has been able to update itself in terms of menu, environment, service and technology. With its growing customers globally, McDonalds developed its website where it interacts with its customers and gives them what they require. McDonalds has maintained a separate website for every country (McDonalds 2008). These websites have been localized in terms of menu, layout and language etc. but the color schemes and logo are the same in all the websites. Several marketing campaigns have been launched via the websites especially the ‘I’m lovin it’ in 2003 with great success. This was an essential move as the target market was moving towards the internet from the TV and promotion was becoming a challenge (Singh 1994). The websites have proved to be a great interacting medium with the customers and has enables the firm to reach their target market especially those in the age bracket of 16-24 years who are avid internet users(Chiem 2000). This interface

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