PROBLEM STATEMENT :
In order for McDonald's to reach its goal of 'par excellence', it must use the full meaning and definition of marketing. Marketing is giving the target market what they want, when and where they want it, at a price they are willing to pay for it.
REFLECTION / OPINION
For McDonald's to achieve its 'par excellence', they must focus on the fact that there is an ever changing market and that the wants and needs of consumers are constantly changing. Since McDonald's has been around for forty-one years, it is safe to say that they are the father of the fast food industry and that they have set an example for others to follow.
When Ray Kroc bought the first McDonald's in 1955, he focused on what people wanted. With this focus came the utilization of Mr. Kroc's theory of QSC ( quality, service, and cleanliness ).
QSC successfully got McDonald's off the ground, but as times changed, the company saw many more market segments and opportunities. In the 1970's and 1980's once again McDonald's lead the way in the fast food industry. The changes we saw included, for example, the fact that women were now a major part of the work force and dual income families were becoming a more common occurrence. McDonald's became a mastermind of marketing toward specific markets by pioneering ideas such as breakfast menus, healthier choices and alternatives, and 'adult' foods. McDonald's has truly evolved into a world power by paying attention to the needs and wants of the changing market and adjusting to these needs.
LINKING THEORY :
Ray Kroc saw early on what needed to be done. He changed what was at one time a product orientation, into a marketing orientation. Back in 1955, this was still a new type...