Pricing Startegies for Mcdonald - 2297 Words

PRICING STRATEGIES Global pricing is one of the most critical and complex issues that McDonald’s faces since price is the only marketing mix instruments that create revenues while all other elements entail costs. A multinational company such as McDonald’s also faces the challenges of how to coordinate their pricing across different countries because of the fact that a company’s global pricing policy may make or break its overseas expansion efforts. In this case, McDonald’s is using Value-Pricing Strategy whereby its offer just the right combination of quality and good service at a fair price to their consumers. There are main drivers which affecting the McDonald’s global pricing such as the company goals, the company costs, the customer†¦show more content†¦McDonald’s also encountered other barriers such as for example in India where the citizen worship cows as their God and does not eat them, the advertisement of the McDonald’s product that based on beef is condemned and drew heavy criticism from the Indian society. McDonald’s Television Campaign and Slogan. McDonalds has for decades maintained an extensive advertising campaign. In addition to the usual media (television, radio, and newspaper), the company makes significant use of billboards and signage, sponsors sporting events from ranging from Little League to the Olympic Games, and makes coolers of orange drink with their logo available for local events of all kinds. Nonetheless, television has always played a central role in the companys advertising strategy. Until today, McDonalds has used 23 different slogans in United States advertising, as well as a few other slogans for select countries and regions. There have been many McDonalds advertising campaigns and slogans over the years. The company is one of the most prevalent fast food advertisers. McDonalds Canadas corporate website states that the commercial campaigns have always focused on the overall McDonalds experience, rather than just product. The purpose of the image has always been portraying warmth and a real slice of every day life. Its Television advertisements showing various people engaging in popularShow MoreRelatedMcdonalds Pricing1208 Words   |  5 Pagesenvironment. This is indeed the case with its implementation of its pricing strategy, which is one of localisation rather than globalisation. Table II illustrates the comparative Big Mac prices (flagship brand of McDonald’s) from around the world. It succeeds in highlighting the point that McDonald’s has had to come up with different pricing strategies for different countries. More importantly, rather than just having a different pricing policy for the Big Mac in these listed countries, McDonald’s hasRead MoreMcdonalds Project.Pdf File11266 Words   |  46 Pages ´Marketing strategies of McDonald ¶s ´ ACTUAL FACTS ABOUT MCDONALDS COFFEE CASE 4|P a ge On February 1992 the headlines of news paper hits with a McDonalds coffee case news. The case was about Stella Lie beck of Albuquerque, New Mexico, was in the passenger seat of her grandsons car when she was severely burned by McDonalds coffee in February 1992. Lie beck was 79 at the time, ordered coffee that was served in a Styrofoam cup at the drive through window of a local McDonalds. After receiving the orderRead MoreBusiness Plan Template5269 Words   |  22 Pagesfirm. PRICING Pricing is the process of establishing the maximum price of the product or service at which it can be sold. Pricing strategy is a part of the company’s marketing strategy it involves setting the price of the product/service in such a way that it aids towards the smooth operation of the business. There are several ways of pricing strategy such as market skimming, target pricing, value pricing psychological pricing, contribution pricing, cost-plus pricing, penetration pricing, tenderRead Morepaul hoang answers72561 Words   |  291 Pageshighly flexible and adaptable to change, so if business idea or plan does not work out then Keith and Tonina are quite flexible in making the necessary changes, e.g. it is relatively easy to transfer a small restaurant to a hair salon than for McDonalds to change their operations. Small businesses such as EXP might operate in niche markets and can become highly profitability yet these markets may be untouched by larger businesses that are more concerned with mass market operations. There is