Research about market helps in determination of actual trends which are persist

Research about market helps in determination of

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Research about market helps in determination of actual trends which are persist in market. It is assessed that customer's requirements are changed continuously over the period of time. To meet out the needs of different segment of customers, it is required to introduce new products and phased out old ones. Management of McDonald's knows that popularity of their items in menu will vary over the time. This will impacts their ability to generate profits at different points in their cycle. beverages, milkshakes etc. Burger king provides product in both veg and non veg categories. They also start offering salad and veggies for diet conscious consumers ( Jones, 2011 ). Price : Pricing will help the organization like McDonald's to charge accurate price which satisfy the different needs of customers persist in various segments. For ex., if low price was charged for their products then customers having the perception that quality compromised. It is important for McDonald's while deciding the prices fully aware about value of their brand in market. Differentiation pricing policy is adopted by McDonald's for their different type of offerings to tap middle section of society ( Coombs, 2012 ). Price : The strategy which is followed by Burger king for pricing of their product is market oriented. To effectively compete with McDonald's, they start providing on quality with affordable pricing. Promotion : This aspect covers all type of method which are used by the organisation to communicate with customers. The different type of promotional methods includes advertising, TV, Radio, Online, poster sites etc. Some other are known as sales promotion, merchandising, direct mail and loyalty Promotion : Basically two ways are used by Burger king for marketing of their product includes social media and advertisements through print media. They also take the support of different sponsors to spread out their reach towards customers. Another tactic which is adopted by them includes providence of
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schemes. These methods are used by McDonald's to attain effective results. For ex., TV advertisements help the organisation to aware customers about food items and press advertisements aid in providence of more detail. At present, main emphasis is provided on targeting children. In this regard, small toys are provided along with meal. discount to online orders helps to attract large number of customer's. Place : This will covers the aspect about distribution points for products. In present situation, outlets of McDonald's are spread out in main cities which are easily accessible by end customers. Drive in and Drive out options are also provided by McDonald's for convenience of consumers which enables them to attract in large number ( Cooper and et. al., 2014 ). Place : The supply chain network of Burger King is strong at global platforms. Charge of appointing suppliers has taken over by quality control department of Burger King to ensure best is provided to their customers. Presence of Burger King is higher in western regions.
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