Question

Find examples of foreign companies' marketing 4P mix strategy use cases on YouTube or website, then briefly introduce the contents and write the link.

Answer 1

Example of foreign company using 4P strategy is as follows:

McDonald's Corporation Marketing Mix includes various approaches that meets business concerns in different fast food restaurants markets around the world.

McDonald's 4P strategy is explained as follows:

1. Product: McDonald's product mix includes variety of foods and beverages. McDonald's products maily includes Hamburgers, snacks and sides, desserts etc. Because of diverse food offered by the corporations, reduces the risk of company's dependence on just one or few market segments.

2. Place: This element of marketing mix explains the venues and locations where products are offered and where customers can access them. The places where McDonald's distributes its products are Restaurants, Metro stations restaurants, Restaurants at railway stations and in different countries.

3. Promotion: This variable focusses on marketing communication with target customers. For example. Company provides new information to persuade consumers to new products. McDonald's used different promotional mix strategies like advertising, public relations, direct marketing etc.

Advertisements are most notable amongst McDonald's promotional tactics.

4. Price: This element of marketing mix specifies price points and price ranges of company's food and beverages products. McDonald's uses a combination of following strategies, a) Bundle pricing strategies b) Psychological pricing strategy. For example. Customers csn purchase happy meal or extra value meal to optimizr cost and product.

Source to be referred: Google ( write there companies using 4P marketing mix strategy )