IM Reply 1

Reply to these two posts with at least 3-4 sentences of constructive feedback and new information/ideas each.

Post #1:

The difference I believe between the plan to win and the 4Ps is that McDonald’s plan to win is satisfying their customer’s needs since their five actors include people, product, place, price, and promotions. For example, in the textbook it mentions because the Hindu religion prohibits eating beef, McDonald’s developed the Chicken Maharaja Mac specifically for India. Despite protests from several Hindu nationalist groups. McDonald’s has worked steadily to prove that it is sensitive to Indian tastes and traditions. Just by that statement McDonald’s tends to do anything and anywhere for their customer’s stratification. The 4Ps include Product, Price, Place, and Promotion. Product focuses on accessories, price is central to the value propositions, place opening more independent store in key U.S cities, and promotion encourages advocacy and sharing via social media and online channels such as Twitter and Instagram.

Green & Keegan. (2018). Global Marketing. Retrieved from Pearson ninth edition.

Post #2:

The McDonald’s “Plan to Win” strategy to revitalize its restaurants and increase brand loyalty has much in common with the “4-Ps of marketing”. The 4 P’s of marketing are also known as the marketing mix, and are used to develop the facets of a marketing strategy. They are product (the goods and/or services being offered), price (how much people are willing to pay for the product, it’s perceived value), place (where to locate the product or service to best convert potential customers into actual ones), and promotion (in which ways can the good or service be best advertised).

McDonald’s developed its “Plan to Win” strategy in response to a decline sales and popularity in the United States market in the 1990s and early 2000s, and the goal of this plan was to make McDonald’s all around better. The components of this plan were five drivers of success: people, products, place, price and promotion. Aside from the obvious alliterative similarities, the plan to win strategy appears to have the exact same components of the 4 Ps of marketing, with the Plan to Win strategy adding in People. For McDonald’s adding a focus on people puts doing more for the customer at the forefront of its strategy.

The Plan to Win strategy is different from the 4 Ps of marketing in that it is not concerned with developing a product and building a strategy around it, considering how to promote, where to place it, and at what price it should be set. Instead, McDonald’s worked backwards, with their 5 P’s shaping internal and external company changes. Specifically, considering people (the customers themselves, their needs and wants), product (how the products are viewed, and what can be added and changed in the menu), price (how to continue to be low cost and create more value), place (the restaurant buildings themselves and their design and atmosphere), and promotion (how advertising is accepted by the consumer, and what works best) as different components of the company. Considering these components have led to changes in the company such as building redesign, healthier and more varied menu options, and menu additions such as coffee drinks and smoothies intended to keep McDonald’s competitive with other fast food restaurants.

References:

Romeo, Peter. 2015. How Jim Skinner Beat the Recession. QSR Magazine. Retrieved from https://www.qsrmagazine.com/reports/how-jim-skinner-beat-recession