Enhancing Brand Equity Globally Through Promotional Strategy – A Case Study Of McDonald’s
Background of the Study
McDonald’s is one of the top fast food restaurants which has gained its popularity at tremendous rate in the whole world. It is carrying a huge turnover regarding the revenue and also possesses a factor of consumer trust. Some qualities are to be determined when it is about achieving global popularity. In case of McDonald’s, its food quality, promotional & marketing strategies and the customer supports has led the organization to achieve top position among the fast food restaurants. Comparing the growth of the restaurant with earlier stages; one can easily find out the factors retarding the growth of McDonald’s or it can be said that it was not that much easy to reach at this much level. The factors such as market competition, pricing strategies, uncommon food items, lack of knowledge about the rules and regulations of government and the knowledge regarding the business at international level etc. were there to hinder the performance of the restaurant. However, the management team has tried to overcome each hindrance and avoid such limitations to reach its goals. It is the management team and the hardworking of each member that leads to a successful business. To reach maximum number of customers and maintain a level of global expansion of business; organizations need to adopt variety of strategies to attract the customers and maintain a good relationship with their customers. This is what McDonald’s is doing. They are utilizing the promotional strategies to promote their brand and to maintain a relationship of loyalty with their customers while having expansion of business.
Aims and Objectives of the Research
The primary aim of this study is to determine the strategies being adopted and implemented by McDonald’s for the expansion of their business. The objectives of the research work can be distinguished as:
- To study the brand value of McDonald’s.
- To study the promotional strategies adopted by the company to reach at the level of global expansion.
- To detect the limitations of promotional activities implemented by the company to reach at international level.
- To study the strategies adopted by McDonald’s to overcome the limitations while expanding the business at international level.
Research Questions
- How McDonald’s is performing to gain brand value?
- What are the promotional strategies adopted by the company to reach at the level of global expansion?
- What are the limitations of promotional activities implemented by the company to reach at international level?
- What are the strategies adopted by McDonald’s to overcome the limitations while expanding the business at international level?
Literature Review
To reach at the international level, a company needs to be aware of the marketing strategies that can influence and attract the customers as well as can maintain a positive relationship between the company & the customers. To gain positive brand equity the company needs to be loyal towards the quality of the product the need of the consumers. On the other hand, customer satisfaction from the brand and the quality of product is also necessary. Number of motives and benefits of brand equity are there which shows the awareness of a brand but a lot of knowledge is required to gain such a position in the market where a brand remains at the top of the list among the various competitors.
Brand awareness affects the customers to prefer over the particular brand that is also an important factor to indicate the loyalty of customers towards the brand and vice versa. Brand equity focuses on brand image which further helps an organization to know about the customer’s loyalty so that the company can work in the required field to achieve the end goals. Globalization has led the companies to work on their limitations and reduce the instances between the customer and the market. Most of the leading companies are working in a way to expand their business globally and gain some market share, profit, revenue and brand value. However, it is not so simple to gain the exceptional success until the companies invest in the promotional activities and the strategies to reach at the global market.
Methodology
Quantitative methodology was used to fulfill the required research work. This methodology helped in developing relationship between the theoretical and numerical concepts or data regarding the marketing strategies of the restaurant – McDonald’s. The research was assembled using the deductive approach for analyzing the marketing strategies and marketing management theories. Secondary data had been used to collect information for this study. Surveys were conducted with the help of employees of McDonald’s for conducting quantitative data analysis.
Reference List
Mcdonalds.co.uk, (2015). [online] Available at: https://www.mcdonalds.co.uk/content/dam/McDonaldsUK/People/Schools-and-students/mcd_marketing.pdf [Accessed 15 Jul. 2015]
Kotler, P. and Keller, K. (2015). Marketing management. Boston: Prentice Hall
Mcdonalds.com, (2015). Marketing & Advertising :: McDonalds.com. [online] Available at: https://www.mcdonalds.com/us/en/contact_us/marketing_advertising.html [Accessed 15 Jul. 2015]
Nordhielm, C. and Dapena-BaroÌÂn, M. (2015). Marketing management. Hoboken, N.J.: Wiley
Tadajewski, M. (2010). Critical marketing studies: logical empiricism, ‘critical performativity’ and marketing practice. Marketing Theory, 10(2), pp.210-222