1.5.2 Competitor Analysis
A competitor is a firm or company that offers the same or a similar good in the same industry or market. Both you and your competitors have the same target market, which is where the competition comes in as one firm aims to gain a larger market share than the others (Business Dictionary, n.d.).
This is done through various marketing strategies by identifying who the main competitors of your company. These are called the direct competitors. Direct competitors are firms who directly compete with your company by offering a very similar good. McDonalds’ direct competitors are Burger King and Wendy’s. These two companies offer a menu that is very similar to that of McDonalds, as their burgers are what they are what the …show more content…
They offer a different product to McDonald’s but it is still considered fast food. Dominos strengths include having an online ordering system where individuals can order and even design their own pizzas. Domino 's also provides an effective home delivery system. However, their recent sales are slowly declining and growth of the company has also slowed down putting them further away from McDonald’s. A high staff turnover due to an untrained or unskilled workforce is another weakness for Dominos leading to their employees leaving when they are unable to keep up.
Starbucks are also considered an indirect competitor due to their rivalry with McDonalds’ breakfast menu and their McCafe. Starbucks’ strengths are their staff, as they are well trained and offer good service. Their products are also of a high quality. They are also usually located in city centres or places that experience high foot traffic, or in the vicinity of many businesses. In terms of a breakfast range, Starbucks has a limited product range compared to McDonalds and their coffee prices are much higher than those of McDonalds which may put them out of range of many …show more content…
Wendy’s (direct) - Family friendly atmosphere inside the restaurants that make customers feel welcome.
- Low carb and healthy options for individuals who are looking to keep a balanced diet. - Brand name is not as well known as McDonald 's and Burger King making it hard to transition into a top company.
- Does not have a signature burger, unlike McDonald’s who have the Big Mac and Burger King who have the Whopper.
Dominos (indirect) - Online ordering system where individuals can order and design their own pizzas.
- Domino 's provides an effective home delivery system. - Sales are slowly declining, growth of the company has also slowed down.
- A high staff turnover due to an untrained or unskilled workforce leading to employees leaving when they are unable to keep up.
Starbucks (indirect) - Staff are well trained and there is a high quality of products and service.
- Locations are usually in places of high foot traffic and busy cities. - Product range is limited when compared to McDonalds’ breakfast menu for consumers who are in a rush in the morning.
- Coffee prices are higher than places like McDonald’s and may be out of the budget of many
A competitor is a firm or company that offers the same or a similar good in the same industry or market. Both you and your competitors have the same target market, which is where the competition comes in as one firm aims to gain a larger market share than the others (Business Dictionary, n.d.).
This is done through various marketing strategies by identifying who the main competitors of your company. These are called the direct competitors. Direct competitors are firms who directly compete with your company by offering a very similar good. McDonalds’ direct competitors are Burger King and Wendy’s. These two companies offer a menu that is very similar to that of McDonalds, as their burgers are what they are what the …show more content…
They offer a different product to McDonald’s but it is still considered fast food. Dominos strengths include having an online ordering system where individuals can order and even design their own pizzas. Domino 's also provides an effective home delivery system. However, their recent sales are slowly declining and growth of the company has also slowed down putting them further away from McDonald’s. A high staff turnover due to an untrained or unskilled workforce is another weakness for Dominos leading to their employees leaving when they are unable to keep up.
Starbucks are also considered an indirect competitor due to their rivalry with McDonalds’ breakfast menu and their McCafe. Starbucks’ strengths are their staff, as they are well trained and offer good service. Their products are also of a high quality. They are also usually located in city centres or places that experience high foot traffic, or in the vicinity of many businesses. In terms of a breakfast range, Starbucks has a limited product range compared to McDonalds and their coffee prices are much higher than those of McDonalds which may put them out of range of many …show more content…
Wendy’s (direct) - Family friendly atmosphere inside the restaurants that make customers feel welcome.
- Low carb and healthy options for individuals who are looking to keep a balanced diet. - Brand name is not as well known as McDonald 's and Burger King making it hard to transition into a top company.
- Does not have a signature burger, unlike McDonald’s who have the Big Mac and Burger King who have the Whopper.
Dominos (indirect) - Online ordering system where individuals can order and design their own pizzas.
- Domino 's provides an effective home delivery system. - Sales are slowly declining, growth of the company has also slowed down.
- A high staff turnover due to an untrained or unskilled workforce leading to employees leaving when they are unable to keep up.
Starbucks (indirect) - Staff are well trained and there is a high quality of products and service.
- Locations are usually in places of high foot traffic and busy cities. - Product range is limited when compared to McDonalds’ breakfast menu for consumers who are in a rush in the morning.
- Coffee prices are higher than places like McDonald’s and may be out of the budget of many