Imagine a hamburger with a delicious meat and hot french fries in your hand, what kind of brand that you imagine right now? Is it McDonald’s?
Well, yes we are going to discuss further McDonald’s. McDonald’s is one of the largest brands that specialize in hamburger which established since 1940. As an entrepreneur or someone that run a business, you must be wondering what’s the secret to maintaining a fast food restaurant. McDonald’s or McD is a fast food restaurant that survives the market competition until now.
Innovation is one of the secrets. Innovation allows McD continued their growth. Some of their innovation is drive-thru in 1975. Drive-thru was invented to solve the problems back then when the soldiers couldn’t park their cars while wearing their uniform. Their first drive-thru was located near the military base in Sierra Vista. Not only that, but McD also invent their menus such as Happy Meal, Big Mac, Hot Apple Pie, etc.
It shows that innovation has a significant role in the development and how to run McDonald’s from time to time. But their innovation does not always work according to their expectation. McDonald’s trying to invent new products by launched premium McWraps in 2013, and they failed. The product called Mighty Wings that cost higher than regular price, turns out it doesn’t fit with customer needs. McD’s customer tends to purchase foods at an economical price. Innovation is necessary, but you need the right brand strategy.
Through brand strategy, you can be able to know how to manage innovation in a right way to increase sales. Brand strategy will be working correctly if you can identify the differences in consumer behavior – how consumers buy and use the products and adjust your branding program based on the brand elements both research.
Click here for more articles about brand and branding.