Literature Review Essay Example | Topics and Well Written Essays - 2000 words

Literature Review - Essay Example Thus, rapidly increasing profitability of a company denotes that it has high level of customer satisfaction. Customer satisfaction depicts the ability of an organisation towards satisfying the needs of the customers. An organisation can effectively retain its customers by satisfying them (Kotler, 2009). Customer satisfaction depends on the product or service quality as well as the price provided by an organisation. It is referred as the key element in marketing from the perspective of theory as well as practice. In today’s business world, customer satisfaction has a huge impact on the competitiveness of an organisation. Hence, company managers provide more emphasis on customer satisfaction to increase the market share, the profitability as well as the sustainability of the business (Mohsan, F. & et. al., 2011). There are certain ways through which organisations can satisfy customers such as by creating customer loyalty towards the products as well as services, by improving the level of services and by enhancing the product value and product quality among others. In this context, it can be stated that customer satisfaction can be determined by effectiveness of employees in an organisation to provide good product and services (Taghizadeh & et. al., 2012). Customer Satisfaction in McDonald For McDonald, customer satisfaction has great importance to maintain profitability and to increase the market share. ... According to McDonald’s commitment, doing the right thing is important for satisfying customers. McDonald’s policies, strategies as well as practices have made the company more competent in the market (McDonalds, 2012). According to the observation of the CEO of McDonalds, the company positively satisfies the needs of the customers in terms of providing quality products with affordable prices (McDonald’s, 2011). Marketing Strategies of McDonalds for Customer Satisfaction The target customers of McDonalds are children, young people as well as urban families. In order to satisfy the target customers, McDonalds have been providing special facilities to children such as ‘play place’ which help to attract huge number customers to its restaurants. Young urban customers are also attracted toward McDonalds because of certain facilities such as fun games (Food Advertising to Children and Teens Score, 2010). For any organisation, customer’s perception a bout the product is considered as a significant factor for success. Many organisations fail to satisfy customers because certain products are unable to fulfil the customers’ needs. Therefore, customer perception as well as expectation is considered as one of the most significant factors in the marketing strategies for an organisation (Ghosh & et. al., 2012). Consequently, McDonalds also understand the importance of perception of customers and thus, develops its marketing strategies in such as way so that it can fulfil their expectations. The 4p’s marketing mix strategies help McDonald to satisfy their requirements from a fast food restaurant. The aspects of 4p’s strategies are product, price, promotions and place. Product Due to increased number of fast food chains