Mcdonalds The Fast Food Restaurant Business - 1180 Words

McDonald’s Corporation has continued to evolve in the fast-food industry, and introduced a more contemporary look and new menu items, while altering traditional favorites. The changes we see before us today, are all a part of the company’s strategic plan. However, five things still remain a priority in McDonald’s strategy; people, products, place, price, and promotion. The company depends on each of these core drivers to create opportunities for McDonald’s Corporation. During my research I have taken a look at how some of McDonald’s competitors measure up to the company. However, in this paper I will be discussing Burger King’s position compared to McDonald’s by using some of the recent articles I read about the fast-food restaurant business. Additionally, I will be summarizing McDonald’s strategies and performance in 2010, and the effectiveness of the company’s strategies. Lastly, I will discuss some recommendations that I would offer McDonald’s chief executive officer. Burger King is one of many competitors McDonald’s continues to crush year after year. However, all eyes are currently on Burger King with its newly introduced menu item; flame grilled hot dogs. Although it may not be bringing as much revenue as McDonald’s, this could be a smart strategy by Burger King, because hot dogs are not on a lot of fast food menus; especially not McDonald’s. It could assist the company in attracting children and other diners who are looking for something traditional and inexpensiveShow MoreRelatedFast Food Chains And Customer Satisfaction Essay1721 Words   |  7 Pagesare many fast food chains operating around the world today. They are operating in the same competitive environment. Fast food chains have been competing with each other since the 1950s. Competitors in the fast food industry compete with each other on key attributes like price, service quality, access, product select ion, innovation and customer satisfaction. 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Even McDonald has built in America but in recently, to describe McDonald’s restaurant, it is one of the biggest fast food restaurants in the world. Today, McDonald has cover more than 100 countries, more than 30,000 restaurants and serves more thanRead MoreMcdonald s Target Market Analysis Essay1213 Words   |  5 PagesMcDonald’s Target Market Research has shown that McDonald’s target market is very broad. McDonald’s menu includes items that are meant to appeal to people of all ages. McDonald’s offers Happy Meals for children, coffees and breakfasts for people who are too busy to make their own breakfast or coffee in the morning. They also offer healthy options on their menu and alongside all of this they offer the usual burgers, fries and beverages. McDonald’s also offers free Wi-Fi in their restaurants for people