Marketing Strategies Adopted by McDonald's and Consumer Perception Towards Fast-Food

Summary

Over the past few years the Indian economy has undergone drastic changes- changes that have had the market flooded with multinationals and a variety of products. There has been a sudden upsurge in the Indian industry and exponential growth in specific industries. Today's companies work in a war zone of rapidly changing competitors, technological advances, new laws, managed trade policies and diminishing customer loyalty.

In today's world of cutthroat fierce competition, customer satisfaction is very essential to not only exist but also to excel in the market. Today's market is enormously more complex. Henceforth, to survive in the market, the company not only needs to maximize its profit but also needs to satisfy its customers and should try to build upon from there.

The project title "Marketing strategies and International Business strategies adopted by McDonald's" is the analysis of the service Quality level of fast food industry. This project involves the service level provided by McDonald's and its competitors. The survey was conducted so as to analyze the service quality prevailing in the current industry and the improvement that can be made upon it.

Market research study has been conducted in order to bring out the picture of service quality that exists in this industry and the difference in service quality that exists in the market. Like what are the customer's preferences about the hospitality provided by the fast food industry.

After this a comprehensive and comparative analysis has been made and conclusion has been made keeping in mind the detailed analysis of the findings, which has been collected through the market research.

Research Objective

The primary objective of study was Marketing Strategies adopted by "Mc Donald's". This objective is supported by four secondary objectives, achieving them will lead to the fulfillment of primary objective. They include:
* To understand the marketing strategy of McDonalds with respect to targeting, positioning and Marketing mix.
* To understand consumer perception and to find buyer behavior towards fast food.
* To Compare Service quality of Competitors vis-à-vis McDonalds
* To find out the ways by which McDonald's can improve upon its service quality and bring more satisfaction to customers and thus add value to its bottom line.

Conclusions
* McDonald takes the share on this attribute by providing the customer with fast and friendly services.
* At McDonald we get your order usually within 60-90 seconds from the time it is placed. Providing the customer fast and friendly services is the philosophy of McDonald's. This is the big advantage McDonald's is having over the other restaurants.
* The customer satisfaction levels are better than the other competitors McDonald's is having. If we compare the space management Nirula's is having better space management than McDonald and Pizza Hut.
* The advantage McDonald having over the other restaurant is I) Ambiance ii) Employee behavior iii) Cleanliness and iv) Price.
* There is a price and service quality factor today, which the customer is looking for. It is giving an edge to McDonald's over Nirulas and Pizza Hut.

Limitations of Study

1. Certain limitations were inherent with this project work.
2. 100% response rate was not found from the respondents. Some extent of biasness was found because of Brand loyalty while answering the questions.
3. Potential biases such as reluctance of consumers, executives etc.
4. Lack of interest of the respondent was one of the major problems.
5. The Geographic extent of this study was limited to the Delhi market only.
6. The research only tries to present a bird eye view of the entire gamut of Indian Small appliances Market.

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