Saturday, October 1, 2011

McDonald’s Marketing Strategy of Innovation and Trendsetting

McDonald’s is known for its innovative market positioning. There is no doubt that McDonald’s rapid growth is based on intelligent and smart business ideas based on the dynamics of business environment and societal changes. The restaurant which was started in 1948 with just one outlet now has its footprints across the globe. It’s global sales in 2010 was recorded at $24 billion with net profit rose to $4.95 billion last year, up 5% compared with 2009.
If we list the most known innovative ideas introduced by McDonalds, first thing that comes to our minds is the concept of Happy Meal – a combo meal for children featuring a free toy that made McDonald’s restaurants most demanded place for meals by kids across the globe. The second most interesting concept that the chain introduced in 1975 was Drive-thru, a brand new feel of comfort for “On the Go” customers to beat their hunger with quick purchase of meal. This idea now accounts for more than half of restaurant system-wide sales!

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