The marketing strategies of McDonalds and Starbucks andthe comparison of their current marketing plans - Essay Example

Download file to see previous pages Food industry can be considered as a concurrent or triple point in terms of history, innovative ideas, and taste. This industry is dependent on number of factors like government regulations regarding hygiene standards and suitability, new innovative brands and trends in the market, consumer behavior, and cultural and religious beliefs. Despite of all such factors, the industry is one of the largest industries in the world as it had sale revenue of about $3.2 trillion in 2004. In USA almost 16.5 million people are professionally associated with food industry and Americans spend about $1 trillion annually which is about 10% of Gross Domestic Product (GDP). UK fast food is the largest fast food market in Europe which is double and triple in size than Germany and French markets respectively. The food industry (including fast food) had an estimated gross value added of £73.4 billions in 2007 (http://www.whatmattersweblog.com). It had a contribution of 18.8% of national part-time employment and 8.7% of national full time employment.
Coffee has established a strong standing in hospitality industry in last 10 years. In many countries espresso, cappuccino, and caffe latte has replaced the brewed filter coffee and therefore set a café style coffee. Because of having a major contribution with respect to both the revenue and volume in market, the carbonated beverages are the mainstay of the industry. Australian citizens prefer milk-based coffee as about 90% of coffee cups sold in 2005 contained milk in it. In recent years, cappuccino has come out as the most favorite brand of coffee for Australian people however, people having strong financial assets particularly young ladies have more inclination towards the caffés lattes.es lattes. Espresso and the flat white are generally more demanded by young males and senior citizens respectively. Another significant trend in coffee industry is the cafe preference of customers with respect to either fair trading or sustainable source. A rising trend has been observed by the farmers that they intended to approach the fair trading cafes instead of low pricing cafes (Bacon, 2005). McDonalds are the two leading companies in the industry of fast food and soft drinks respectively. McDonalds is the world’s largest fast food providing organization, presently operating at more than 33,000 locations across the world and serving more than 64 million people around 119 countries on daily basis (http://www.mcdonalds.ca/). Although the company has more than half century experience even then it works through dynamic marketing strategies. McDonalds offers innovative ideas in their operations to keep itself at No.1 position in the fast ...Download file to see next pagesRead More