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Product Analysis/Evaluations Assignment Essay Example

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Product Analysis/Evaluations Assignment

In fact, many ideas for new menu items emanate from franchises in response to consumer demand. Before launching a new product, the company conducts extensive market research and work closely with the target group to establish the most favored product by the customers. For instance, the launching of maharaja McBurger marketed in India, was due to the consumer demand and preference in IndiaThe company has strategically positioned its restaurants in convenient and accessible areas (Molch 5). The company has initiated several fast food restaurants in different countries to reach more people. Placement of restaurants in other countries raised the need to include new items in the restaurants’ menu to accommodate the new demand and preference. The company focuses on mass advertisement to win new customers and retain the existing ones. The company is working on localizing marketing communication after the realization that it does not appeal to every country. For instance, the company has realized that advertising on television in china has a negligible positive impact because commercial between programs are usually ignored. Instead the company has opted for newspaper and magazine advertisement.The customer’s discernment of value is a vital determinant of the price charged (Bini 24). For instance, a consumer might take low price of a commodity to mean low quality. McDonald’s aim is to offer quality food to customers at a good value.The company endeavors to differentiate itself from other fast food restaurants in the world by using a dollar menu and free toy with Happy Meals for children. In fact, price is a crucial consideration in the marketing of a product. Before pricing a product it is necessary to research on the consumers’ ability and willingness to buy the product. The McDonald Company begins by creating an expression of bargaining pricing to attract customers. The marketing and finance departments assess the market and determine the profit margin to work with.Promotion is yet another marketing strategy that has facilitated expansion of the menu selection for McDonald Restaurant (McDonald 97). McDonald Company uses many kinds of promotionto keep the restaurants unique in the fast food industry. For instance,use of catch phrases such as ‘you deserve a break today’ is a unique promotion of the restaurants. Additionally, the

Works cited

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Bini, Matilde. Statistical methods for the evaluation of educational services and quality of product. Heidelberg; New York: Physica-Verlag. 2009. Print.

Hoffmann, Stefanie. Are the 4 Ps of international marketing of equal importance to all firms? What factors might cause some to more or less important than others? Ashort article. München GRIN Verlag GmbH .2008. Print.

Krause, Frank and Kreis, Berliner. The future of product development: proceedings of the 17th CIRP Design Conference. Berlin; New York: Springer.2007. Print.

Lamb, Charles; Hair, Joseph and McDaniel, Carl. Essentials of marketing. Mason, Ohio: South-Western Cengage Learning, .2012. Print.

Lamb, Charles; Hair, Joseph and McDaniel, Carl. Marketing. Mason, Ohio: South- Western Cengage Learning .2009. Print.

Martin,Neale.Habit: the 95% of behavior marketers ignore. Upper Saddle River, N.J.: F Press.2008. Print.

McDonald, James. Managing the development of software-intensive systems. Hoboken, N.J.: John Wiley & Sons .2010.Print.

McDonald, Malcolm. Malcolm McDonald on marketing planning: understanding marketing plans and strategy. London; Philadelphia: Kogan Page. 2008. Print.

Molch, David. McDonalds Russia: managing a crisis: case study. [Munich]: GRIN Verlag .2009. Print.

Smith, Paul and Taylor, Jonathan. Marketing communications: an integrated approach. London; Sterling (VA): K. Page, 2004. Print.

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preview essay on Product Analysis/Evaluations Assignment
  • Pages: 6 (1500 words)
  • Document Type: Essay
  • Subject: Marketing
  • Level: Ph.D.
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