Mcdonalds 4 p's

Price

Price is the most important “P” of marketing mix because it is the only “P” which creates Revenue for the firm. Whenever a customer comes into a fast food outlet like McDonalds in India he always wants value of the product he purchases. He wanted value of their money out of product. McDonalds has kept its prices low in the Indian Market for capturing most of their target groups but it can also affect them. Customer can feel that quality is being compromised. McDonalds has very strong Image on the global Market and it is Important for McDonalds now to charge a little high prices of their new product range because it will increase their market share. Consumers in India are now capable of spending Rs 50-100 for their one time Meal. So McDonalds should capture this opportunity as KFC and subway are utilizing. By introducing new products they can charge a little high so as to cover their profits using this segment. They should price according to appropriate demand supply equation.

Place

McDonalds has a strategy by which they understand the importance of growth within International markets. McDonalds have great interiors off all their outlets and they have reached many metro cities. Serving millions of people there and getting revenues. But there are still a lot of untapped regional markets in India especially in eastern part of India where there is less presence of McDonalds and other fast food brands in the country. McDonalds should concentrate now on opening their stores in smaller cities because according to census of India population, 2010, population of smaller cities is nearly 177 million which is a huge revenue generating market. They should also add some new features in their outlets such as Wi-Fi Internet, television screens, couches so that youngsters can also come there and relax with their friends and can have their products.

Promotion:

Promotion can be done through 5 different ways advertising, sales promotions, events and experiences, direct marketing and public relations. McDonalds uses its promotional strategy according to different markets. Promotion is one of the most important “p” of Marketing because by this only you can position your product into the consumers mind. Promotion is the main part which help a firm to position its products image in consumers mind. Other promotional methods which are being used nowadays are creating awareness using merchandising approach like McDonald do by selling toys with “Happy Meal”. Promotion is done by McDonalds using Ronald’s McDonalds or by using Walt Disney different characters. McDonalds has maintained an extensive advertising campaign in India. They have used all form of ways of Advertising media such as television, Radio, billboards, newspapers, etc. But most of their advertising is done through Television. In India they have used different slogans according to their targeting strategy. For example when they reduced prices they introduced a new slogan called “Aap Ke Zamane Mai Baap Ke Zamane Ke Daam” which means you are getting today’s meal at your father childhood time. So to Target new segment of Adults they have to do there advertisement accordingly. But important thing to emphasis while deciding and making an advert is message should not be confusing, because main aim of doing advertisement is to make the consumers aware of the items and to feel positive about it. With introduction of new products such as Salads, breakfast products, sandwiches, juices, they should also represent the qualities of all of them. Now with the new product and pricing strategy McDonalds will use their advertising strategy by putting adverts on Television, Radio, poster, billboards and Specially on different sites on Internet. Today people spend most of their time using different sites such as Facebook, Orkut, Google, Yahoo, etc. So these Internet sites will be also used as a media of advertising. Television advertisement should be done between different times so that adverts can be seen by most of the people. In India people used at watch Television at Evening so between the times of 6 to 9 adverts of McDonalds should be shown. Advertising should be done in a way that it should change attitudes of those consumer also which consider McDonalds as a unhealthy food provider.