McDonald’s Along With Other Fast Food Giants Comes Up With Value Offerings
McDonald’s, Burger King and Pizza Hut comes up with value meals
Recently, McDonald’s Corporation launched its much hyped McPick 2, which is a value meal offering allowing consumers to choose two items from the selected menu offering for $2. This includes McDouble, small fries, McChicken and mozzarella sticks. This wasn’t it but Pizza Hut also came up with a similar value offering by launched a $5 Flavor Menu for a limited. Through this offering, buyers can select two items from seven options for $5.
There are two reason why the fast food giants are coming up with a value combo offering. Firstly, consumers are more inclined to saving money particularly during the start of New Year, this encourages them to opt for quick meals that are cheaply priced. Other than that, the fast food chains in the food fraternity are competing amongst one another to acquire the position of the best value chain in a way that profits are not compromised upon.
Two years back, McDonald’s cancelled its Dollar Menu which was replaced by a new menu offering, Dollar Menu and More. This replacement turned out to be a complete disaster and thus the company decided to retire it. The reason behind the demise of this offering was that the menu offering were priced at $1 which did not result in substantial profits for the company.
As a result, the fast food companies decided to come up with a combination of deals such as McDonald’s McPick 2, Burger King’s $4 menu. These combinations were a mix and match of high and low priced items which clubbed together offered bargain which was being appreciated by consumers. The benefit for the fast food chains is that the companies can churn revenue when buyers add other high profit menu offerings to their order. Moreover, it will also help them in establishing brand loyalty.
Over the past couple of years, the promotions by Burger King and Wendy’s have resulted in better sales. However, McDonald’s is not coming up with the right offering that can intrigue the audience. According to Yahoo Food, “The McPick 2 is part of McDonald’s broader effort to restore more permanent national value platforms — a mission that, if it succeeds, would be major blow to the rest of the fast-food industry. With offerings like the five for $4, it’s clear Burger King isn’t going to fall behind in the fast-food price wars without a fight.”
McDonalds Menu and value offerings need to improvise while the rest of the fast food fraternity simply needs to continue its efforts.