Visit one of your favourite retail store (Myer, David Jones, Coles etc) and pick a product (this could be an iPhone, a laptop, beauty product, or food product i.e. McDonald’s or Coke) and consider your response to the following questions:
The product I’ve chosen is the Big Mac
offered by McDonald’s. I’ve included my response for the questions below.
1.
How does the company
create awareness of its product?
Ø McDonalds is one of the most easily recognized,
well-known brands in the world. They maintain their immense reputation for
stellar recognition and brand awareness through consistent branding,
advertising and being willing to adapt to an ever-changing marketplace. One of
the key techniques employed by this company to create awareness for a product
like Big Mac, which is one of its leading products, is by utilizing various
promotional strategies which include: TV spots (advertisement), billboard ads
and word of mouth due to the popularity of the product.
2.
How does the company
get consumers to try its product?
Ø Consumer Behaviour is important in the marketing industry
as consumer make buying decision on day-to-day basis. McDonalds is already one
of the popular fast-food restaurants in the world. You can find it anywhere. Culture
is one of the main causes of consumers’ wants and behaviour. McDonald’s
carefully standardized food items according to local tradition and culture. McDonald’s
try to localize their food menu by designing new products according to
different cultures and understand their consumer buying behaviour in order to
get them to try new products. By employing powerful ad campaigns, they can find
ways to get consumers to try products like Big Mac in this case. Big Mac being
one of its main sellers already has the reputation behind it, which should be
enough to get consumers on their doorstep.
3.
How does the company
give information about the product to its customer?
Ø The company has information regarding the Big Mac in its
website, mobile apps, flyers and online advertisements. This could be
attributed to what the Big Mac is, and what the main ingredients are. Consumers
can easily locate this information, while there’s also common knowledge amongst
most of them regarding what the Big Mac has to offer.
4.
How does the company
retain loyal customers?
Ø McDonald's runs a very successful series of marketing and
advertising campaigns to make sure all of their customers are aware of their
offers, promotions and good work that McDonald's is involved in. This includes
TV, print, display, radio, and online advertising. Loyal customers are given
the benefit of receiving regular offers and promotions, that keeps them
interested in what the company has to offer.
The company is
working to improve the customer experience and provide more personalized
services to new and loyal customers. The rewards program offered by McDonalds
will increase customer loyalty (as well as retain loyal customers) and repeat
sales, along with providing the company with a direct communication channel
with customers.
5.
How does the company
entice the customer to buy more and use their product frequently?
Ø McDonald’s budget is much larger than that of a smaller
private company. McDonalds uses both informative and persuasive adverts, the
informative ones are about eating healthy and the persuasive ones persuade
people to buy the food sometimes, with TV adverts they show people eating the
food and really enjoying it; which usually enticing customers to buy more of
their products frequently. This is evident by many of McDonalds famous Big Mac
ads, as well as a famous jingle: “Two all-beef patties, special sauce, lettuce,
cheese, pickles, onions, on a sesame-seed bun”, which is enough to entice
customers. I've included a video for the jingle below:
https://www.youtube.com/watch?v=yEBCV0ic6Tc
6.
What promotions does
the company use to identify more customers?
Ø McDonald’s uses Digital and Social Media Marketing, SEO
Content and Tech Marketing, Content Marketing, SMS and Email Marketing,
Referral Marketing, CRM and traditional marketing mechanism such as billboards,
print media, television advertisements, leaflets, celebrity endorsements such
as Elka Whalan, George Calombaris etc. in its Promotions Mix. McDonald’s uses
the slogan “I’m Lovin’ It” to position its products and also uses the Figure of
Ronald McDonald to address and position the market. They reach out and identify
more potential customers by practicing online campaigns which have wide-reaching
effects.
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