Ever since McDonald’s opened its first branch in Korea 20 years ago, it popularity and fame have been almost impossible for other similar companies to overlook at and have been opening about 350 stores at different locations all across Korea.
However, since its peak in 2002, the concept “well-being’ and all the incidents about mad-cow disease have affected the firms lowered the sales and forced the company downsizing over the past few years. The first McDonald’s ever launched in Korea in Apgujeong-dong 20 years ago, recently went out of business and is closed now.
Ray Frawley, the President of McDonald’s Korea, says that it’s just another step forward for McDonald’s to jump into a new business in the future. According to the article, McDonald’s is doing its best to serve their customers and at times, “… those aggressive decisions and changes are needed” (BusinessWeek). Also, Frawley states that the number of new opening stores is growing again and their business is having a ‘double-digit’ growth.
In an effort to regain its customers’ loyalty and satisfying them with better services and food, McDonald’s has been implementing some new marketing and business strategies such as introducing “the popular McMorning Breakfast menu, premium coffee, cushioned seats, 24 hour operation, drive-thrus and even delivery services in limited locations.” (BusinessWeek).
I personally don’t like to eat out at the fast-food restaurant, but I can’t deny that sometimes it’s very convenience to just grab a burger and eat on the way. The star product of McDonald’s which is Big Macs is still loved by a lot of people and the demand for fast-food would not be completely disappeared even with people’s concerns about their health. I think one way for those fast food companies to retain their positions in the market would be targeting those people, who have great interests about eating healthy food, by introducing menus using fresh and high-quality ingredients.
Reference;
http://www.koreatimes.co.kr/www/news/biz/2008/04/123_22214.html
20601008 – 5th Entry
However, since its peak in 2002, the concept “well-being’ and all the incidents about mad-cow disease have affected the firms lowered the sales and forced the company downsizing over the past few years. The first McDonald’s ever launched in Korea in Apgujeong-dong 20 years ago, recently went out of business and is closed now.
Ray Frawley, the President of McDonald’s Korea, says that it’s just another step forward for McDonald’s to jump into a new business in the future. According to the article, McDonald’s is doing its best to serve their customers and at times, “… those aggressive decisions and changes are needed” (BusinessWeek). Also, Frawley states that the number of new opening stores is growing again and their business is having a ‘double-digit’ growth.
In an effort to regain its customers’ loyalty and satisfying them with better services and food, McDonald’s has been implementing some new marketing and business strategies such as introducing “the popular McMorning Breakfast menu, premium coffee, cushioned seats, 24 hour operation, drive-thrus and even delivery services in limited locations.” (BusinessWeek).
I personally don’t like to eat out at the fast-food restaurant, but I can’t deny that sometimes it’s very convenience to just grab a burger and eat on the way. The star product of McDonald’s which is Big Macs is still loved by a lot of people and the demand for fast-food would not be completely disappeared even with people’s concerns about their health. I think one way for those fast food companies to retain their positions in the market would be targeting those people, who have great interests about eating healthy food, by introducing menus using fresh and high-quality ingredients.
Reference;
http://www.koreatimes.co.kr/www/news/biz/2008/04/123_22214.html
20601008 – 5th Entry
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