Do you know that McDonald's operates in 123 countries across the globe, has more than 30,000 outlets and represents 43% of the U.S. fast food market???
This phenomenon which started as "The Airdrome"in 1937, has taken global precedence over the minds of the people. So much so that it has been scientifically proven that many children can recognize McDonald's even before they even speak.
So what has gone behind making McDonald's one of the most successful brands in the world with an estimated value of the Brand being $ 35.59 billion?
There have been many factors contributing to its success right from being one of the first fast food chains to employ the standardization process for its products to opening up a Hamburger university giving graduates a degree in Hamburgeology (innovative eh?). However, the biggest reason for its success has been the company's skillful marketing and flexible response to customer demands including pricing strategy and new product launches including having Braille and picture menus. McDonald's has also bring strong brand relations through Ronald McDonald (its mascot), the Golden Arches (its symbol), the Big Mac (one of its top selling burgers) amongst others. These along with the brand associations created in the minds of its customers through its marketing programs have made 'quality', 'cleanliness' and 'value' synonymous with the brand. The brand has also become a global symbol of the 'American way of life'.
With new innovations and massive expansion plans (specifically in developing nations), McDonald's looks like driving the growth, popularity and penetration of the organized fast food restaurants.
This phenomenon which started as "The Airdrome"in 1937, has taken global precedence over the minds of the people. So much so that it has been scientifically proven that many children can recognize McDonald's even before they even speak.
So what has gone behind making McDonald's one of the most successful brands in the world with an estimated value of the Brand being $ 35.59 billion?
There have been many factors contributing to its success right from being one of the first fast food chains to employ the standardization process for its products to opening up a Hamburger university giving graduates a degree in Hamburgeology (innovative eh?). However, the biggest reason for its success has been the company's skillful marketing and flexible response to customer demands including pricing strategy and new product launches including having Braille and picture menus. McDonald's has also bring strong brand relations through Ronald McDonald (its mascot), the Golden Arches (its symbol), the Big Mac (one of its top selling burgers) amongst others. These along with the brand associations created in the minds of its customers through its marketing programs have made 'quality', 'cleanliness' and 'value' synonymous with the brand. The brand has also become a global symbol of the 'American way of life'.
With new innovations and massive expansion plans (specifically in developing nations), McDonald's looks like driving the growth, popularity and penetration of the organized fast food restaurants.
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