MANAGEMENT

Detailed explanation-1: -McDonald’s has a wide range of customers because it uses mass marketing and has low prices at fast-food restaurants. Most of the chain’s customers are between 35 and 54. Buyers, both men and women, often have low to average incomes.

Detailed explanation-2: -McDonald’s Products (Product Mix) As a food service business, McDonald’s has a product mix composed mainly of food and beverage products. This element of the marketing mix covers the organizational outputs (goods and services) that the company provides to its target markets.

Detailed explanation-3: -The four Ps are product, price, place, and promotion. They are an example of a “marketing mix, ” or the combined tools and methodologies used by marketers to achieve their marketing objectives.

Detailed explanation-4: -Price Strategy of McDonald’s KFC, Subway, Domino’s, are its major rivals. McDonald’s offers discounts or bundles on particular goods and combinations of different menu items as part of its promotional pricing strategy. Their price approach has also been tweaked to appeal to the lower middle class.