Author(s)

Guang Lu

Corresponding Author

Guang Lu

ABSTRACT

In recent years, the market scale of China's catering industry has steadily improved, especially in the fast-food chain industry. Many fast-food brands such as McDonald's, KFC, and Wallace once occupied leaders in the domestic dining market. The overall scale of the catering market increased from 2892.6 billion yuan in 2014 to 4672.1 billion yuan in 2019, with a compound annual growth rate of 10.1%. In addition, the fast-food industry will prosper due to the increased family income, the strong promotion of takeout services, and the digital platform and technology development of the Chinese market for a prosperous tomorrow. As an important strategic support for the catering industry, especially the fast-food industry, the market segment has attracted attention from the business community and academic circles over the years. The study of this issue will strengthen the business understanding of the international brand McDonald's, and greatly promote the prosperity and development of the Chinese fast food and event catering industry. This paper will explore the research method, the existing market segment strategy, finally explore the problem, take more accurate customer strategy (i. e., age, regional, psychological, demand segmentation strategy) to achieve the space of survival and development. According to the different needs of consumers, the overall market is divided into different market segment. Each consumer group is a market segment, and each market segment is composed of the same demand to achieve development. The study of this paper will be useful for the development of the Chinese fast food industry.

KEYWORDS

McDonald, Product, Diversification strategies, Target market