FACULTY OF MANAGEMENT STUDIES
Strategic Brand Management
Saniya Mazhar L1S14MBAM1137
Awais Manzoor L1S14MBAM1142
Hira Banth L1F13MBAM2219
Awais Bajwa L1S14MBAM1139
Muhammad Zaid L1S14MBAM1141
Submitted To: Sir. Khurram Hamid
The McDonald's Corporation is the world's largest chain of hamburger fast food restaurants, serving around 68 million customers daily in 119 countries across 35,000 outlets. Headquartered in the United States, the company began in 1940 as a barbecue restaurant operated by Richard and Maurice McDonald.
Assessing and understanding the current status of a corporate identity is an important step to take and determining how that brand will evolve. Brand Audits including identifying gaps between the vision for the brand and the actual brand, and gaps between audience expectations of the brand and the existing brand.
Brand image is one of the most crucial elements for McDonald’s. Throughout the year’s image of the brand have changed many times. It is not something unexpected, since the world is changing, influencing and causing changes on many fields. Positioning is a process of creating an image in the mind of consumers by which consumers can understand the uniqueness about your product when compared to competitor’s product. Understanding brand equity involves identifying the network of strong, favorable, and unique brand associations in memory. This association network constitutes a brand’s image, identifies the brand’s uniqueness and value to consumers, and suggests ways that the brand’s equity can be leveraged in the marketplace.
Brand Audit is not an easy task. However there are certain models which are helpful and provide good background for assessment of the brand. It cannot be denied, that brand is minor part of doing business. It influences identification, practicality, loyalty and many other operations which create differences between brands. Building a strong brand requires not only strategy, but also tactics of how to implement it. Focusing on thorough evaluation and creation of brand building process leads to success. And success is achieved, when customer’s knowledge of the brand is inconvertible. The concepts presented are about getting consumers or employees more involved with the brand. Proper development and integration of brand elements is necessary to achieve this goal. Brand elements are integral part of brand equity. Only the best companies, like McDonald’s can use them to create the magic moment which will stay with consumers for a long time. The creation of brand equity is a main target of branding.
World is changing, and so is McDonald’s. Future of the Golden Arches may not be easy, but it definitely is promising among other because of careful brand building. We can bring changes in the atmosphere of MacDonald’s like changing in the dining hall, bring changes in color or furniture and can also add…