McDonald’s: The Story Of The Fastest Growing Food Industry
McDonald’s: Ray Kroc, the traveling salesman who founded McDonald’s, based his brand vision on a simple and powerful consumer-driven premise.
McDonald’s is unquestionably at the top of the “fast-food chain.” McDonald’s has established its spot in the Fast Food Industry Hall of Fame due to its strong focus on customer service, responsiveness to competition, and early adoption of brilliant marketing strategies.
Ray Kroc, the traveling salesman who founded McDonald’s, based his brand vision on a simple and powerful consumer-driven premise: quality, service, cleanliness, and value. These ideas are still the foundation of the company. McDonald’s has evolved into a reliable brand that places the customer at the heart of its universe.
Various Things to Consider At McDonald’s
· McDonald’s is the world’s largest franchised foodservice corporation, with the greatest Food and Beverage Branding Agencies branding it.
· McDonald’s has already opened its 1000th outlet in the United Kingdom by the year 2000.
· McDonald’s serves food and beverages to roughly 43 million people worldwide every day.
· McDonald’s food is now available in places including a Swiss aircraft, a Swedish ski-thru, and Liverpool’s Anfield football stadium.
How McDonald’s Started Its Journey
McDonald’s story began in 1954 in San Bernadino, California. Ray Kroc, a traveling salesman, was attempting to sell milkshake multi-mixers to a drive-in restaurant owned by two brothers, Mac, and Dick McDonald.
Kroc estimated that the eatery, which served 15-cent hamburgers with fries and a shake every fifteen seconds, sold over 2,000 milkshakes each month. Kroc recognized the enormous potential of the brothers’ booming business and chose to become involved.
On April 15, 1955, Kroc became the McDonald brothers’ first franchisee when he launched his own McDonald’s in Chicago. The economy was thriving. Within its first three years, McDonald’s served over 100 million hamburgers. The 100th McDonald’s restaurant opened in 1959. Kroc paid $2.7 million to buy out the McDonald brothers’ shareholding in 1961.
In 1963, the billionth McDonald’s hamburger was served live on prime time television.
Outside of the United Kingdom and the United States, the brand was equally popular. By the time the famous Golden Arches debuted in the United Kingdom in 1974, McDonald’s had effectively established itself in Canada, Australia, Japan, and Germany. By 1988, global sales had surpassed $16 billion.
McDonald’s is now available on all five continents, from Beijing to the Arctic Circle.
McDonald’s Competitors in Market
When McDonald’s initially entered the UK market in the mid-1970s, the route for fast-food restaurants had previously been blazed by fish and chip restaurant groups.
Since then, the fast-food restaurant business has shown steady dynamic expansion. International companies such as Burger King, KFC, and Pizza Hut have already entered the market, making it extremely competitive.
Despite increased competition, McDonald’s with its distinctive Golden Arches continues to flourish.
McDonald’s Marketing and Branding Strategy
McDonald’s has long recognized the importance of marketing and branding in the brand-building process. McDonald’s and advertising are inextricably linked.
“There’s something as fundamental to our success as the hamburger.” That item is promoting McDonald’s fashion. It dwarfs any individual or product holding the McDonald’s name,” Ray Kroc.
Even now, a certain percentage of profits is invested in advertising and sales promotion in every market where McDonald’s operates.
McDonald’s communication is just unrivaled in terms of core warmth and empathy. However, McDonald’s has built the greatest partnerships in the United Kingdom through the nation’s favorite sport — football. McDonald’s has established a unique relationship between the brand and the sport by sponsoring high-profile professional competitions.
McDonald’s Innovation that Made them the Fastest Growing Food Chain
McDonald’s two most successful ideas have been Extra Value Meals and Happy Meals. The Extra Value Meals provide customers with a hamburger, drink, and fries for a set price. Similarly, McDonald’s Happy Meal Boxes present a simple but enticing idea to parents: a reduced portioned meal presented in a cute box with a toy.
These kinds of developments have helped to build the McDonald’s brand and brand value in the eyes of consumers. McDonald’s has risen to the top of the fast-food restaurant business as a result of these little advances.
