Marketing Strategy: Product, Place, Price and Promotion

Paper Summary:

This paper analyzes the intricate business practices of McDonald's while focusing on the product, place, price and promotion that is used as part of a marketing strategy to generate hundreds of millions of dollars in annual sales. This paper accurately details various marketing techniques and strategies that have given an ordinary product, such as McDonald's burgers and fries an exciting and evolutionary life as well as impressive profits. This paper also cites various research statistics and results relevant to this particular topic.

Table of Contents:
Abstract
A Look at McDonald's
Product Marketing
Place, in Relation to Marketing
Pricing
Promotion
Summary
References

From the Paper:

"If you build a McDonald's in the right area, the people will come, but good pricing surely plays a role in getting them to come back. One of the main elements of McDonald's marketing strategy is effective pricing of their product. Knowing that their target market consists in large part of families, who often need an affordable way to dine out with the children, their menu over the years has been priced in a way that allows virtually anyone to eat at McDonald's and enjoy a quality meal without spending a large amount of money. What it really comes down to is value- people enjoy McDonald's food which is a big part of repeat business; the best pricing in the world will not sell a product if the consumer does not perceive value in what they are purchasing. In fact, McDonald's states this outright in their "Value Menu" offerings of recent years, which provide selected menu items at a bargain price, most times, $1.00 or less."

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