McDonald's is the world most popular fast food restaurant which began its operation in the year 1971 as a single restaurant in Australia Yagoona. Today, the fast food business has over 900 McDonald's restaurants across Australia and likewise, it has over 1 million customer base in Australia alone. This report will conduct McDonald's market analysis with regards to its targeted market that is the tourist market.
Table of Contents
- 1. Introduction
- 2. Summary of Part B
- 3. Marketing Mix
- 3.1. Product Strategy
- Product Life Cycle (PLC)
- Branding
- Packaging
- Labeling
- Quality
- Product Mix/ Depth and Width
- Augmented Services
- 3.2. Pricing Strategy
- 3.3. Promotion Mix
- 3.4. People
- 3.5. Process
- 3.6. Physical Evidence
- 3.1. Product Strategy
- 4. Recommendation
Objectives and Key Themes
The main objective of this report is to conduct a market analysis of McDonald's, focusing on its potential to expand into the tourist market in Australia. The report explores strategies to successfully target tourists, considering their unique needs and behaviors.
- Understanding tourist consumer behavior and decision-making processes.
- Developing a suitable marketing mix for the tourist market.
- Adapting product strategies to appeal to tourist preferences.
- Implementing effective pricing and promotional strategies.
- The importance of employee training and service delivery in attracting tourists.
Chapter Summaries
1. Introduction: This introductory chapter provides background information on McDonald's in Australia, highlighting its extensive presence and customer base. It establishes the focus of the report: a market analysis specifically targeting the tourist market as a potential area for growth and expansion. The chapter succinctly positions the subsequent analysis within the context of McDonald's existing market dominance and future expansion ambitions.
2. Summary of Part B: This chapter outlines the key considerations for successfully entering the tourist market. It emphasizes understanding consumer behavior through a consumer audit, considering both internal (age, personality) and external influences. The importance of understanding the buyer decision-making process (information research, competitive evaluation, purchase, and post-purchase) is highlighted. Market segmentation based on factors like family size, age, and income is also discussed, along with the need for tailored market strategies for different tourist segments. The chapter lays the groundwork for the detailed marketing strategies explored in subsequent chapters.
3. Marketing Mix: This chapter delves into the core marketing strategies for targeting the tourist market. It covers various aspects of the marketing mix, including product strategy (adapting existing products and creating new ones, packaging, labeling, quality control, and augmented services), pricing strategy (market penetration pricing), promotional mix (media advertising and integrated marketing communications), people (employee training and customer service), process (direct customer interaction and value-added services), and physical evidence (website and restaurant image). Each element is examined in detail, offering specific recommendations for McDonald's to effectively cater to the tourist demographic. The chapter integrates various theoretical marketing concepts and applies them to the specific context of McDonald's and the tourist market.
4. Recommendation: This chapter emphasizes the potential for growth and increased revenue by tapping into the tourist market. It underscores the importance of continued investment in employee training and development programs to ensure high-quality service and differentiation from competitors. The chapter acts as a concluding statement, summarizing the overall implications of the preceding analysis and advocating for strategic action based on the proposed marketing plan.
Keywords
McDonald's, market analysis, tourist market, consumer behavior, marketing mix, product strategy, pricing strategy, promotion mix, customer service, employee training, market segmentation, Australia.
McDonald's Market Analysis: Tourist Market in Australia - FAQ
What is the main objective of this report?
The main objective is to conduct a market analysis of McDonald's, focusing on its potential to expand into the tourist market in Australia. The report explores strategies to successfully target tourists, considering their unique needs and behaviors.
What are the key themes explored in the report?
Key themes include understanding tourist consumer behavior and decision-making processes; developing a suitable marketing mix for the tourist market; adapting product strategies to appeal to tourist preferences; implementing effective pricing and promotional strategies; and the importance of employee training and service delivery in attracting tourists.
What does the report cover in terms of marketing strategies?
The report delves into a comprehensive marketing mix strategy. This includes product strategy (adapting existing products, packaging, labeling, quality, augmented services), pricing strategy (market penetration pricing), promotional mix (media advertising and integrated marketing communications), people (employee training and customer service), process (direct customer interaction and value-added services), and physical evidence (website and restaurant image).
How does the report analyze consumer behavior?
The report emphasizes understanding consumer behavior through a consumer audit, considering both internal (age, personality) and external influences. It highlights the importance of understanding the buyer decision-making process (information research, competitive evaluation, purchase, and post-purchase) and market segmentation based on factors like family size, age, and income.
What are the key recommendations of the report?
The report recommends tapping into the tourist market for growth and increased revenue. It underscores the importance of continued investment in employee training and development programs to ensure high-quality service and differentiation from competitors.
What are the key chapters included in the report?
The report includes an introduction providing background on McDonald's in Australia; a summary of key considerations for entering the tourist market; a detailed analysis of the marketing mix for targeting tourists; and a concluding chapter with recommendations.
What is the target audience of this market analysis?
The target audience is the tourist market in Australia.
What are the key aspects of the product strategy discussed?
The product strategy includes adapting existing products and creating new ones, packaging, labeling, quality control, and augmented services.
What pricing strategy is considered?
The report considers a market penetration pricing strategy.
What promotional strategies are suggested?
The report suggests media advertising and integrated marketing communications as part of the promotional mix.
What is the significance of employee training and customer service?
Employee training and high-quality customer service are highlighted as crucial for attracting and retaining tourists and differentiating McDonald's from competitors.
- Quote paper
- Epic Editors (Author), 2018, Mcdonalds Market Analysis, Munich, GRIN Verlag, https://www.grin.com/document/432870
