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Marketing - Research Paper Example

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MARKETING Name: Institution: The limitless growth of the global food industry has been a characteristic growth of the world economy. As more and more people resort to sedentary lifestyles because of work related commitments, the demand for fast foods and beverages is ever growing (Gummesson, 2002)…
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Download file to see previous pages... This shall be at the core of the analysis below. The companies’ approaches shall be evaluated on the basis of the four P’s of marketing (price, product, place and promotion). In addition to that, any differences in their domestic and international operations shall be under study. Domestically Internationally Practice/Example Rationale Practice/Example Rationale PRODUCT McDonald’s A wide array of fast foods and beverages. A one stop shop for all food and beverage needs. Sale of fast foods such as hamburger and pizza. Attract working class to the fast food industry. Starbucks Coffee and accompaniments only. New products, packaging i.e Blonde Roast Creating a niche market and specializing in a single product. Great service, top quality coffee, stylish packaging that lives up to the brands reputation. Developing brand association among consumers and nurturing habits. PLACE McDonald’s In all big cities via franchising. Targeting workers during or after work Big towns in developing countries. Targeting emerging classes in towns Starbucks Big cities, small towns through clustered outlets. Being the “third place” after home and work. Only in large towns in emerging markets Proximity to core consumers, the middle class PRICE McDonald’s Affordable rates. Attracting price sensitive buyers. Low cost coffee and pastries. Luring low and high end buyers. Starbucks Premium rates. Quality has no price. Relatively high prices. Attracting high end consumers. PROMOTION McDonald’s Advertising using mass media, billboards e.g. ‘I’m Lovin It’ ads Establishing a constant presence with loyal and budding customers Advertisements in mass media, billboards etc Creating brand awareness among new customers Starbucks Word of mouth and personalized service Quality self promotes. Unique customer Advertisements in mass media Introducing customers to a novel product. Since the start of the economic crisis, Starbucks has closed several stores at home (Gummesson, 2002). This needs to inform its operations abroad. Lowering prices is the best way to attract international consumers since they are using the product for the first time, and they are not ready to pay dearly for an experience they are unaware of. As regards promotion, both word of mouth promotion and mass media marketing have served Starbucks and Mc Donald’s well at home. However, the international market is totally different (Gummesson, 2002). They can not rely on the customers to spread the word on a product they do not know. Therefore, mass media market should be the first resort. Location or place has been a major determining factor of both companies success. At home, Mc Donald’s and Starbucks have used franchising and clustering to spread their branch footprint respectively. However, abroad franchising is the tried and proven alternative. Franchising allows for local entrepreneurs who know the market well to attend to the unique needs of these consumers. Product is the reason the business exists in the first place. At home, both companies are best known for their coffee and related products. The operations in international markets, however, need to follow a different path (Gummesson, 2002). Several products should be launched at a go. This way, even customers who do not have a coffee drinking culture shall be welcome to the establishments. After all, the prime objective is to build a large customer base. After that has been achieved, maybe the companies can concentrate on their core ...Download file to see next pagesRead More
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