Current Market Conditions Competitive Analysis Essay

Current foodstuff Conditions Competitive Analysis - Essay ExampleFor that reason, this paper shall undertake a thorough analysis of the history, products, market, and home run price of McDonalds. Further, this shall also touch on various issues related to competition in the national and world-wide food industry, especially on subjects concerning price target, financial conditions, and market shares. Current securities industry Conditions and Competitive Market Analysis History of McDonalds McDonalds is the largest hamburger fast food chain restaurant in the world now. It soon serves 119 countries with at least 68 million customers every day (Yahoo Finance, 2012). McDonald was born in 1940, with its first ramification opened to public by Richard and Maurice McDonald in California. It was in 1948 that the restaurant adopted and advanced the standards of contemporary fast-food restaurant, which has already been adopted by White Castle hamburger within the past 20 years. Despite t he initial soaring success and growing public patronage, the restaurant was provisionally closed in 1948 in rate to revamp its services (Juan Pollo, 2011). Three months later, the friendship re-opened with its newly adopted production line standards, which take on the shaft service (Ivanova, 2011). In 1955, a food mixer, businessman, and salesman, Ray Kroc, joined the company as a charter agent. He later acquired the restaurant from the McDonald brothers and managed its wide-ranging, international expansion (Ivanova, 2011). Kroc recognized that if he takes advantage of the opportunity to get going a franchising agent, it would expand the company worldwide, and would bring so much promise to his future. Still in 1955, some other McDonald restaurant was launched in Des Plaines, Illinois. Also, Fred Turner, who would later become the restaurants chairman, was signed up as a counter man (Ivanova, 2011). In 1963, the business started to proliferate at a much high-speed rate. It a lready had 500 restaurants (Ivanova, 2011). The restaurant had its initial stock sharing price of 22.50 dollars per share by 1965. ii years later, the company would expand internationally, beginning to open in US neighbors and borders like Canada and Puerto Rico until today when it has reached countries worldwide. The company had big modifications on its service system, which include the first-ever Drive-thru. The first drive-thru was employed in a secernate in Arizona. The Drive-thru system had become one of the most victorious enactments that the company had carried out. Not long after, the company began to flourish so rapidly. It had invaded Europe with countries like Spain and Denmark, as well as some parts of Asia, which include the Philippines. By the closing of 1983, it had an astonishing 7,778 restaurants in only 32 countries internationally (Ivanova, 2011). Today, the company is heavily regarded as the largest fast food chain the world, with at least 32 thousand branches in 119 countries worldwide (Yahoo Finance, 2012). The sentiment and rule of this growth is to provide high quality, standardized products to all customers (Ivanova, 2011). Each McDonald restaurant is being managed autonomously by the companys franchising system. McDonalds Products McDonalds products are basically classified into several categories hamburgers, salads, desserts, chicken, pork and/or fish sandwiches, fries, soft drinks,