d) Diversification: new markets and new products.
Today, McDonald is really competitive among fast food restaurants. That’s why they have to consider changing their strategy.
It means business creates new products or services to customer and modifying on existing market. McDonald promotes their product and market. They need to develop their foods. McDonald penetrates their market by introducing low price meal comparing with their rival for example: 99p mayo burger.
It means a business creates new product or service to customer and modifying on existing market. McDonald emphasizes this strategy because they are always trying to develop their products every year. McDonald also makes research for new meals & drinks. Before developing new menu, they always consider race. In the past, they only served soft drink (coca cola), now they can serve milk shakes and hot drink (coffee). Furthermore, they also offer new menu to the customer very often for example, Big tasty , Big Mac etc. McDonald can offer special menu for breakfast
“Geographic expansion” is very important in market development. In McDonald, there is a lot of franchisee around the world. Therefore they target not only local market but also international market.