Customer Retention Strategies At Mcdonald 's Corporations

Many different alternatives exist to face the customer retention problem. One good alternative would be to use and develop a strong customer relation management strategy. With the information collected from the customer loyalty system, the company needs to develop a customer relation service. To improve the perceived value of the brand, the company should create a very developed customer service with a dedicated customer service number and an easy way to order cars. In the airports and main retail places, the company should develop a specific office/desk dedicated to the premium customers and those who have loyalty cards. So that, the consumers don’t lose time and can enjoy of a best quality service.

Customer loyalty plays a very vital role in an organization’s success or not always, is a very interesting debate. It has been suggested at several literature that loyal customer generates ongoing revenue and they also assist in generating profitable business income to any organization. At the same time research also suggests that there are other views available in relation to the concept of loyalty. The important factor to understand is weather those factors lead to long term business profitability or not. In my opinion regardless of other considerations, customer loyalty plays a great input in the business benefits and revenue. Today’s literature review will put some light on both customer loyalty as well as other consideration. It will further emphases the importance of the customer loyalty aspect and its impact on the revenue of the firm by supporting the concept of customer loyalty.

Focus on high performance rather than low cost is an essential principle in the recruitment and selection process at McDonald’s since the level of skills that the workforce possesses is an important determinant of the level of competence and productivity that individuals and the organization achieves in business operations. This level of skills is also an essential determinant of the quality of skills and services that employees at the enterprise deliver to clients, especially because the employees occupy the frontline in contact with customers in the enterprise’s outlets (McDonald’s Corporation, 2008). This means that the levels of skills that the hired employees possess and demonstrate in their positions are essential foundations for the image that McDonald’s portrays in its outlets, and hence its brand image. This is since the experience of customers at the enterprise’s outlets as the employees deliver services to them is

Even with marketing efforts there’s always a level of defection due to a new competitor entering the market or boredom, or simply customers moving away to a new location. The best way to prevent defection and increase retention is to make your customers satisfied, as satisfied customers = Loyal Customer.

Furthermore, the publication suggests that the brand loyalty is correlated with market share. So, the bigger the company is, the more loyalty among its customers. And, this is true because the more people get to know the company, its services, and its products, the more brand identity it will form among current customers. Also, large companies benefit from having more loyal customers because they engage in word-of-mouth activities which can potentially attract more customers. So, there are many ways in which a company can increase their loyalty levels. But, when it comes to increasing market share, a better way could involve the increase in revenues among consumers. This can be done by opening more stores, offering products online, and by offering volume discounts. And, as a result, the company may be able to increase revenues and potentially increase its market share. Eventually, it could lead to an increase in the amount of loyal customers overall. Moreover, it can be said that loyalty programs and other related marketing activities can only make a difference in the long-run because the result are hardly noticeable in the short-run due to the fact that it takes time for a buyer to become an actual loyal customer.

Retention is a reflection of a customer’s willingness to remain with a particular company’s service or products and is useful to measure customer loyalty. The relationship

Every company wants to make money and bring in customers, but what about making loyal customers out of them so they continue to come back? How do you even bring in potential new customers and turn them into loyal customers to begin with? The lifetime value of a customer is a predicted value of net profit credited to the total future relationship of a customer. We want to know the financial value of each customer so that we know how much to spend in marketing when looking for new customers and the potential of profits back from the money in advertising spent. The grocery store chain must start looking at customers and how to make them happy and loyal in the long run, as opposed to how to boost sales right now. From the Marketing Management book, a well-known rule states that 80 percent or more of a firm’s profits come from the top 20 percent of its customers. Thus, we want to focus on brining in new customers with successful marketing and turning them into loyal returning customers.

Marketing is a mix of business activities that work towards a bigger goal of building a brand and creating lasting relationships to capture value from customers. Implementing a marketing strategy is vital as it examines every aspect of a business by identifying customer needs and meeting these in a better way than competitors (Armstrong et al. 2015). McDonald’s and Hungry Jack’s are examples of companies with excellent customer-driven marketing strategies, strategically deciding which customers to serve (segmentation and targeting) and how (positioning & differentiation). Using this as a guideline they’ve incorporated the marketing mix consisting of; product, price, promotion and place to produce the response it wants in the target market.

The aspects of business success that Jones (2012) chooses to study are that of customer retention and employee satisfaction. Being able to minimize the loss of customers correlates to improved financial

| High customer loyalty among repeat customers. The reason for this trend is that within the last couple of years the restaurant offerings have increased, providing customers with new choices. Restaurant patrons no longer need toaccept a limited number of options. With more choices, patrons have become more sophisticated. This trend is intuitive as you can observe a more sophisticated restaurant patron in larger

() describes customer loyalty as ……. Customer loyalty is a combination of relative attitude and repeat patronage. Businesses work to retain customers who have both a high level of repeat patronage and attitude towards the company. Loyal customers translate to be more profitable over time through related purchases, increase referrals, operating cost savings etc. Although Taco Bell dominates the percentage of market share in the Mexican-food segment, parent company Yum! Brands desires to grow their percentage of market share in the overall fast-food industry. This forms the basis of the company’s

It is imperative to satisfy customers and give them an amazing experience at the company. While it cost less to sell to existing customers and companies can increase profit by selling to the same customers; if customers are satisfied, there is more chance they will come back for more services or products. Satisfied customers are a free marketing for the company. However, it is the opposite if customers are dissatisfied. Dissatisfied customer will tell 8 to 10 people about his or her experience (O’Brien, A & Marakas, G. 2004). If by any reason, representatives see that the customer is not satisfy, they should act fast and fix the problem. Furthermore, there is more chance for sale representatives to sell to an existing customer that to a new customer. A good strategy for customer retention is to reward good customers. Companies can easily do

Customers who were giving major share to the competitors were primarily targeted with the Loyalty program where as another programme known as retention programme was designed to attract the customers who were visiting less to Harrah’s

McDonald’s is one of the best known brands worldwide. This report will explain how McDonald’s aims to continually build its brand by listening to its customers, whilst also identifying the various stages in the marketing process. The report will also examine and explain the reason for McDonald 's penetrating the Indian market and the how the opportunity became available. The strategy and rationalised steps undertaken to achieve the best possible outcome based on location, menu, competition, pricing, developing a supply chain, etc, and how the strategy has grown and changed over a period of time. Also covering how this strategy has provided a growing income whilst also resulting in various complications and challenges. The challenges

Business school has taught me that keeping customers is considerably less expenses than finding new ones. Therefore, I want to create a large amount of customer loyalty at Master Marketing. My final objective is to create a strong reputation in the San Antonio area as a quality and efficient marketing firm. Building a reputation as a quality firm is necessary to gaining the optimal amount of clients.