Answered: Q.1 Classify the stakeholders that have…

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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Hello there . can you please assist on the following case study below.

Questions

Q.1 Classify the stakeholders that have contributed towards McDonald's success. Substantiate your answer by referring to the case study.

Q.2.Discuss the sources and approaches used by McDonald's in order to stay abreast of the environmental change.

Q.3. Conduct a SWOT analysis for McDonald's.

Transcribed Image Text:Van Schaik Publishers ITIL UKUATNISATIUNAL ENVIRONMENT 3 McDonald's was in a very good position to undertake the market research required to start making the appropriate changes and thus lead the revolution. This ability to move with the times is what made the business successtul to begin with. The business environment is not static. It evolves with time, retlecting changes in the broader social environment. Our lifestyles are very different trom those of our grandparents and even our parents, partly be- COuse technological advances have transformed the workplace and the family home. The of life is increasing, and many families turn to the convenience of takeaway and fast pace foods on a regular basis. However, change is pushing the food-service world in different directions. Advances in health care and preventative medicine have stressed the impor- tance of a healthy diet. Increased access to mass communications, such as television and the internet, has meant that consumers are becoming savvier about health issues, and are demanding better choices in convenience foods. As the business environment changes, so too do the views of stakeholders. Reconciling the interests of stakeholders is crucial for continued business success. Compare it with a three-legged stool. If one leg is weak or not properly aligned, the entire stool is weakened and can topple over. A strong relationship between McDonald's, its customers and its other stakeholders is essential, with all elements working together to meet customer needs. Responding to a changing business environment is easier if the basic structure is strong. Stakeholders are coming to expect more out of businesses in terms of corporate citizenship. Businesses need to be mindful of the effect they have on the broader community, including the health of its youngest members. McDonald's Australia's philosophy is to be continually responsive to market demands and accept that there is always more to learn. Catriona Noble, the chief operating officer of McDonald's, notes that: "Social responsibility challenges are always evolving, and we are focused on learning from experts and adapting our operations to maximise the positive impact we can have on our society". In responding to consumer needs, McDonald's approach has been to listen and learn. Market research is the key to ascertaining the needs of customers. McDonald's undertook a major research project called Project Discovery. The results showed some pleasing con- sumer perceptions, but also revealed areas that needed attention, particularly in the area of health. To supplement this major research project, McDonald's conducts regular tracking studies every quarter that measure the customers' point of view. Customers are asked ques- tions regarding food image, brand image, quality, service, cleanliness and value. Creating the changes order to create the changes, it was first necessary to identify exactly what those changes should be. In 2012, Guy Russo, who was then McDonald's CEO, started attending obesi- y summits and participating in obesity forums. He met with key organisations, including the Obesity Taskforce. In the following year, McDonald's formed a relationship with The Food a group of accredited dieticians, who provide McDonald's with ongoing advice Group, nutrifion. Once expert advice was obtained, it was then a matter of translating these Tessons and the research findingas into concrete menu changes. McDonald's took a two-told 69 upproach - improving existing products and creating new ones. EXisting products were improved by methods that include: | Switching to a canola and sunflower oil blend, which is low in saturated fat and trans fatty acids

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