1. Identify the key elements in McDonald’s global marketing strategy (GMS).
In particular, how does McDonald’s approach the issue of standardization? Does McDonald’s think global and act local? Does it also think local and act global? McDonald’s global marketing strategy is based on combination of global and local marketing mix elements. For the first elements in McDonald’s global marketing strategy (GMS) is a vital elements in McDonald’s business model restaurants system that can be set up virtually anywhere in the world and the restaurants themselves offer the consumers a chance to experience for themselves a fast food legend. McDonald’s business model, depicted by the “three-legged stool” of owner/operators, suppliers, and company employees, is their foundation, and balancing the interests of all three groups. Second elements are McDonald’s offers core menu items like hamburgers, French fries and soft drinks in most countries.
The popularity of American-style hamburgers, fries, and soft drinks is growing around the world, supporting Levitt’s view of the global village. For the price, the average price of Big Mac in the United States is $3.54. Globalization involves developing marketing strategies as though the world is a single entity, marketing standardized products in the same way everywhere. Globalized organizations employ standardized products, promotional campaigns, prices and distribution channels for all markets.
The Term Paper on Cultural Differences and Global Marketing
The conquering of the cultural differences has also introduced us to a new terminology, global economy, which is a global system of production, distribution and consumption. The world has become a singular unit because the pace of economic development has accelerated due to an increase in marketing not only at a local level, but also at a global level. Global marketing has conquered and crossed ...
Brand name, product characteristics, packaging and labeling are the easiest of the marketing mix variables to standardize. One of the aims of McDonald’s is to create a standardized set of items that taste the same whether in India, China or South Africa. McDonald’s seeks to serve its customers with the same quality product and experience, whether that restaurant is located in Moscow, Kiev or Russia. This requires standardized processes and similar quality ingredients. The table below is the examples of effective global marketing of McDonald’s: Marketing Mix Element
