Business Strategy Essay Example | Topics and Well Written Essays - 1750 words - 3

Business Strategy - Essay Example to remain progressive and contemporary with the changing business environment and has always tried to meet the consumer demand (Hitt, Duane and Hoskisson, 2012, pp.76-77). The company carries extensive research on the needs and tastes of the customers and at the same time constantly changes their advertising campaigns. The main aim of the company is to develop their products in the best possible way and give their customers a great place to socialize, eat and have a great experience. McDonald’s has achieved its competitive advantage through charging low price for its products and increasing the volume. McDonald’s attracts the consumers on a regular basis and at the most affordable prices. It aims at regular visits of the customers and hence does not display very high priced products on their menu. The product prices of McDonald’s are not standard for all the countries. It differs according to the location or rather the pricing strategy of McDonald’s depends on the local competition and promotions. McDonald’s has even changed the eating habits of the customers and attracts people at the peak hours by offering very low rates. McDonald’s follows an aggressive pricing strategy. McDonald’s products taste the same whichever country they operate, but they try and indulge some local taste so as to make it more appealing to the local consumers (Jeannet and Hennessey, 2005, pp.213-214). The company expands its operations internationally through franchising. They even aim at being the quick service restaurant and give their customers a good experienc e in terms of product quality, taste and cleanliness. The business strategy of McDonald’s comprises of the franchisee model, product consistency and act like retailer think like a brand strategy. The franchisee model that is adopted by the company helps it to maximize on the returns and minimize the investment. According to this model only 15% of the total number of restaurants of McDonald’s is actually owned by