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The aim is to know and to understand the customer so well that the product or service fits him/her and sells itself!'
Peter Drucker, Cited in Marketing Concepts & Strategies p6
The underlying principle of marketing is that to be successful, a business needs to satisfy their customers so to increase the likelihood of repeat custom. To ensure this, the business needs to construct an appropriate marketing strategy to fulfil this criterion.
McDonald's has an exceptional understanding of these aspects within there marketplace, as McDonalds do not offer a product for every type of consumer they attempt to identify groups of customers, defined as a ?market segment', this is a band of people in the case of McDonald's these will be defined demographically for instance age, gender and region...
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