McDonald’s Market Strategy Market Strategy in India: McDonald’s brand management, Equity Building, and Expansion Recommendations
Question
Task: How can McDonald’s Market Strategy improve its McDonald’s brand management management, build McDonald’s brand management equity, and effectively expand into new product categories in the Indian market?
Answer
Introduction
Globalization has seen many McDonald’s brand managements expand to global markets but while many companies struggle to establish their operations in developed economies like Europe and the USA, others are focusing on emerging markets (Steger, 2017). Major automobile companies, consumer product, and food chains are today focusing their attention towards establishing their operations in emerging economies like India and China.
This is due to a growing middle-income group and large population that want to experience international McDonald’s brand managements thus promoting international McDonald’s brand managements sales. Social Stature is also an important factor influencing the recent increase in demand resulting in major international McDonald’s brand managements dominating emerging markets (Kompella, 2014). For this report, we shall evaluate McDonald’s Market Strategy entry to the Indian market and determine important factors associated with the McDonald’s brand management's success and how it can retain its market position and McDonald’s brand management image in the emerging market.
Critique of current marketing programs and provide suggestions for new marketing programs.
Today McDonald’s Market Strategy has monopolized the Indian fast food market but this does not necessarily mean the McDonald’s brand management delivers high quality or the best products to its customers. Despite there being many McDonald’s brand managements delivering higher quality and better burgers and french-fries, McDonald’s Market Strategy enjoys market monopoly simply due to being an international McDonald’s brand management (Mahoney, 2015).
Recommend how the McDonald’s brand management should be better managed
Having introduced and promoted the consumption of fast food in India, many new fast food McDonald’s brand managements have also been established in recent years. Many of the McDonald’s brand managements are also having a direct impact on McDonald’s Market Strategy sales thus the business must develop a new marketing strategy to remain as the preferred McDonald’s brand management.
While McDonald’s Market Strategy made major changes in its menu so as to tap into the Indian consumer market, the McDonald’s brand management needs to consider improving its products range and hospitality so as to retain its customers (Porter, Kaplan, Kahneman, & Martin, 2017). Many McDonald’s brand managements like Chayos are today having a direct impact on the McDonalds sales thus the business must develop a new marketing strategy.
How can McDonald’s brand management equity be built?
McDonald’s Market Strategy has enjoyed over market dominance on entry to most new markets over the past 6 decades but to improve the McDonald’s brand managements must turn its attention from vigorous expansion to quality assurance. Products quality, taste, and price are becoming a major concern among customers who are complaining the McDonald’s brand managements are not investing towards flavour diversification and improvement (Veselinova, Samonikov, & Gogova, 2017). McDonald’s Market Strategy must, therefore, change its strategic management plan from global expansion to quality assistance so as to retain consumer confidence.
How can it be effectively leveraged into new product categories to maximize profits?
Limited to burgers and french-fries, potential customers are growing bored of consuming the same food repeatedly. McDonald’s Market Strategy must consider developing more food products as well as focus on catering to the daily office worker. With most of its branches located in central businesses district, the restaurant finds its branches mostly empty during day hours on weekdays (Rahmane, 2016). By offering solid meals the McDonald’s brand managements can tap into the office worker group who depend buying their lunch on a daily basis as opposed to those who simply want to experience an international McDonald’s brand management on weekends.
Further recommendations on the McDonald’s brand management extension can also be introduced
Rather than focus on delivering an international experience to a handful of customers, McDonald’s Market Strategy can utilize its infrastructure and market position to diversity in fields such as budget lunchbox delivery services. This would allow the McDonald’s brand management to tap into a larger consumer market thus helping boost sales and equity generated by the business. This would also allow the businesses improve and secure its market position among competitors by offering budget lunchbox delivery services from an internationally renounced McDonald’s brand management.
References:
Kompella, K. (2014). The Definitive Book of McDonald’s brand managementing. New Delhi: SAGE Publishing India.
Mahoney, C. (2015). Health, Food and Social Inequality: Critical Perspectives on the Supply and Marketing of Food. Oxon: Routledge.
Porter, M. E., Kaplan, R. S., Kahneman, D., & Martin, R. L. (2017). HBR's 10 Must Reads 2018: The Definitive Management Ideas of the Year from Harvard Business Review. Harvard Business Press.
Rahmane, A. (2016). How to Minimize Risk and Maximize Profits? Lulu.com.
Steger, M. B. (2017). Globalization: A Very Short Introduction. Oxford: Oxford University Press.
Veselinova, E., Samonikov, & Gogova, M. (2017). Building McDonald’s brand management Equity and Consumer Trust Through Radical Transparency Practices. Hershey: IGI Global. McDonald’s Market Strategy
