Ch. 1 Overview of Marketing (Brief History and Mission Statement)

Brief History of Mc Donald's

McDonald's Corporation (NYSE: MCD) is the world's largest fast food chain, selling primarily hamburgers, cheeseburgers, chicken, french fries, breakfast items, soft drinks, milkshakes and desserts and more recently its menu include salads, fish, wraps, smoothies and fruit.
 

The business was founded in 1940 with a barbecue restaurant opened by siblings Dick and Mac McDonald. It was their introduction of the "Speedee Service System" in 1948 that established the principles of the fast-food restaurant. However, the company today dates its "founding" to the opening of CEO Ray Kroc's first franchised restaurant, the company's ninth, in 1955. The Mc Donald's cooperation was created. He later purchased all rights to the McDonald's concept from the McDonald's brothers for $2.7 million and oversaw its worldwide growth.

In 1970, Mc Donald's restaurant were found in every US states; up to now, McDonald's restaurants are found in 119 countries and territories around the world and serve 68 million customers each day. The company also operates other restaurant brands, such as Aroma Café and Boston Market, and has a minority stake in Pret a Manger.

McDonald basic philosophy includes the good relation with the supplier. because if the relationship with the supplier is not good they can't improve quality and increase value. McDonald has to apply this philosophy in any environment without any discrimination for better performance and provide fresh food to customer. McDonald's has become emblematic of globalization, sometimes referred as the "McDonaldization" of society. The Economist magazine uses the "Big Mac index": the comparison of a Big Mac's cost in various world currencies can be used to informally judge these currencies' purchasing power parity.

 

 

Mc Donald's Mission Statement

 

 

In 1957, Quality, Service, Cleanliness and Value (Q.S.C. & V.) became the company motto. The five key facets of that McDonald's experience are people, products, place, price, and promotion. "McDonald's brand mission is to be our customers' favorite place and way to eat." This statement is more clearly defined that customers can expect when walking into a McDonald's fast food restaurant no matter where it is located... Currently McDonald's is implementing a global strategy that it calls "Play to Win," which is designed to create a consistently excellent customer experience in McDonald's restaurants.