Enhancing Brand Equity Globally Through Promotional Strategy Mcdonalds

Background of the Study

McDonald's is one of the leading fast food restaurants in the world and is responsible for a massive turnover in terms of revenue and a significant amount of loyal customers. These loyal customers have very much relied on McDonald's fast food to beat their hunger. The key to success for achieving such performance is the genuine quality of food items, customer support service, and their winning promotional strategies. Thus, a massive brand like McDonald's is capable of satisfying their customers and generating revenue efficiently.

But the success didn't come to McDonald's with ease. It was challenging for the company to achieve success internationally due to various reasons such as market competition, different pricing strategies, unknown food items, lack of knowledge and experience about the international market and Government rules and regulations. However, the competent management of McDonald's has been dealing with these limitations effectively, and their promotional strategies are helping them to avoid such constraints. Also, their attractive promotional plans have been helping them to promote their brand internationally by showcasing their quality of products. Moreover, the success that they achieved within their domestic market has also been contributing equally to increase McDonald's credibility. They are using promotional activities not only for supporting their sales but also for expanding their brand image to enhance customer loyalty. This is because McDonald's understand the taste of people and is dedicated to providing them with the desired product.

Aims and Objectives of the Research 

The primary objective of the current research is to analyse the promotional strategies implemented by the management of McDonald's. This analysis is necessary to enhance its brand equity internationally and to declare their status globally.

Objectives of the Research 

1. To examine the current brand value of McDonald's globally.

2. To evaluate the steps taken in favour of its promotional strategies implemented by McDonald's for extending their brand equity and their credibility globally.

3. To identify the limitations of the promotional approach implemented by McDonald's for spreading their brand equity globally and the steps taken to overcome it.

4. To recommend various strategies for minimising the boundaries and maximising the success of the promotional plan performed by McDonald's for extending their brand equity globally.

Research Questions

1. How McDonald's is performing globally in terms of brand value?

2. What are the parameters adopted by McDonald's to perform extraordinarily in the global market?

3. What are the promotional strategies implemented by McDonald's for extending their brand equity globally?

4. What are the challenges faced by McDonald's regarding promotional policies implemented by McDonald's for spreading their brand equity globally?

5. What are the recommended strategies for minimising the limitations or overcoming the challenges of the promotional plan implemented by McDonald's for extending their brand equity globally?

Literature Review

There is no brand in today's world without a desire to promote their services or establish equity in the market. There are various motives and benefits of brand equity. It indicates brand awareness and brand preference among the people. It also signifies the familiarity of the brand among the customers. It is imperative for companies to enhance brand awareness among customers by implementing various promotional and marketing strategies. All of this hard work is worth to do to ensure the survival of the companies in the international market.

The significance of brand awareness is very crucial as it influences the customers to prefer that particular brand over the other brands. This also helps to enhance brand loyalty among the customers. Brand equity often helps improving customer loyalty as it concentrates upon strengthening the brand image. To increase a brand image, the company needs to develop a sense of trust among its customers. Also, most of the leading companies are widely using promotional strategies for supporting their international expansion. This strategy is widely used among companies as this is the most sophisticated and cost-effective strategy for enhancing brand equity and revenue in the global market.

Without globalisation, it was not possible for the companies to establish their presence globally. Globalisation has a more significant contribution in reducing the distance between the market and the consumers, especially from a global perspective. Most of the leading companies in the world are significantly contributing to the international expansion for enhancing their exchange. It increases market share, profit, revenue, and brand value. However, it was never easy for companies to earn exceptional success and outcome. This was not possible until they started investing in marketing and promotion, which later changed the entire scenario. It was very challenging for the companies before to achieve outstanding results due to lack of marketing and promotional activities. But with the evolution of promotional activities, it is now possible to get exceptional results while operating within an utterly unknown market. Moreover, it doesn't matter how many potential competitors compete. Also, the leading companies are concentrating on enhancing their brand equity as they often foresee their business at the strategic level from long term perspectives.

Methodology

The research is expected to be carried out using a quantitative research methodology. This is because this methodology enables the study to perform a comparison and analysis by forming a relationship between numerical data and the theories on marketing management and promotional activities. Additionally, the research will also follow a deductive approach for mitigating those theories with the collected statistical data. The deductive approach has its significance as it allows to clarify the statistical data apart from generic data. Thus, to stay on course, the entire investigation will follow original research format. The current study has clear aims and objectives. Positive research approach philosophy is preferred for the current research.

The research will follow a detailed design for communicating with many research participants. Surveys will be conducted with the employees of McDonald's for performing quantitative data analysis. The significance of a study is to attain a better understanding of the working and process of an organisation. On the other hand, qualitative data analysis will be conducted by arranging interviews with the marketing managers of McDonald's. The data obtained for the research will not be used for commercial purposes, and the information of the research participants will not be revealed under any position.

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Reference List

Mcdonalds.co.uk, (2015). [online] Available at: https://www.mcdonalds.co.uk/content/dam/McDonaldsUK/People/Schools-and-students/mcd_marketing.pdf [Accessed 15 Jul. 2015]

Kotler, P. and Keller, K. (2015). Marketing management. Boston: Prentice Hall

Mcdonalds.com, (2015). Marketing & Advertising :: McDonalds.com. [online] Available at: https://www.mcdonalds.com/us/en/contact_us/marketing_advertising.html [Accessed 15 Jul. 2015]

Nordhielm, C. and Dapena-Barón, M. (2015). Marketing management. Hoboken, N.J.: Wiley

Tadajewski, M. (2010). Critical marketing studies: logical empiricism, 'critical performativity', and marketing practice. Marketing Theory, 10(2), pp.210-222