Everyone knows McDonalds. They’re the world’s most popular fast food chain with over 36,000 locations in more than 100 countries, selling on average 75 burgers a second all over the world. Their rise to monopolising the fast food industry was quick having only started in 1954 but having the intelligence to stay at the top is what I find the most interesting. Improving quality whilst expanding are paramount to Mcdonalds.
McDonalds have a clear-cut growth strategy that they work to abide by with every day of service, the key pillars are: retain, regain, convert, digital, delivery and experience of the future. They constantly innovate to keep up with the current times and to stay miles ahead of their competitors. An example of this is their monopoly game they bring out for a month every year, essentially with certain products you can buy you have the chance to collect stickers to win big prizes or stickers that entitle you to a free item on their menu. This simple game draws in consumers because people love the ‘instant gratification’ of winning something. The consumer is given a sense of empowerment and comes back for more, it’s genius. As well as this promotional game they come out with seasonal items that they change every so often so the consumer doesn’t get bored or find it repetitive, the Signature burgers and the Big Tasty are on and off the menu to avoid repetition and keep people interested. Would you go back to a fast food restaurant every time knowing their menu hasn’t changed since you first went? Especially with sufficient alternative restaurants probably just as close by, I doubt you will. Mcdonalds are truly ahead of their time when it comes to dominating the fast food restaurant industry.
EIBM Nic's Blog 