The content of this document begin by introducing McDonalds’ and also explains the company’s dollar menu. The document also contains a description of my selected product; ‘the dollar menu’ in terms of the four utilities of customer value, mainly possession, time, place and form. The document also identifies the product’s target market in the US as well as in China, the competition of the product category in both home and foreign markets, it contains an explanation of how I would apply the segmentation, targeting, and positioning (STP) approach to market the product in the foreign market; it discusses the major environmental facts and trends in the foreign markets that might affect sales of the product, it explains how I would develop, execute and measure a campaign for the product considering the four p’s (product, price, promotion, and place) and lastly, it discuss the U.S. and international ethical marketing considerations.
McDonald’s Dollar Menu
McDonald's is the world's largest chain of hamburger fast food restaurants. The restaurant has locations in over 119 countries worldwide. The company began in 1940 and primarily sells hamburgers, cheeseburgers, breakfast items, soft drinks, chicken, french fries milkshakes, and desserts. The company also sells salads, fish, smoothies, wraps, and fruit. In response to changing economic trends and consumer incomes as well as spending habits, the company has expanded its menu to include the ‘dollar menu’ (Malcolm M. & Hugh W 2011).
The dollar menu is a group of menu items at McDonalds that are designed to be the least expensive items that are available for sale at McDonalds. The items are usually priced between $0.99 and $1.49. The dollar menu was designed by the management of McDonalds in 2002, so as to make some of their products affordable and accessible to the public. Examples of products that are categorized under the dollar menu are those whose prices ranges from between $0.99 and $1.49 include; sausage muffins, sausage biscuit, sausage burritos, hash browns, premium roast coffee, side salad, sweet tea e.t.c. (Malcolm M. & Hugh W 2011).
The four utilities of customer value of McDonald’s dollar menu are Time: Here, the company ensures that the one dollar menu is advertised during harsh economic times. The company also makes sure that the product is always available to persons whose incomes are low, though out the year. Place: Here, McDonalds ensures that the product is always available to customers in all its branches countrywide, especially where incomes are perceived to be low or in areas where consumer spending on their products is low. The company also offers free delivery on all its products. Possession: The Company also ensures that the products under the one dollar menu are affordable and that those with low incomes can access some of their products and gets to enjoy their tastes. Form: The products under the one dollar menu come in
McDonalds’ Dollar Menu