Tuesday, May 7, 2019

Mcdonald- chose one branch in london Coursework

Mcdonald- chose one branch in london - Coursework simulationThe huge advertisements and promotions of the profuse solid food for thought restaurants are the major factors that raised the solid food market. Through spendthrift food people can gain umpteen competitive advantages which are suitable for existing economic condition (Bagwell & Doff, 2009). The Following Table Shows the Ranking of McDonalds with respect to Market Share in the UK quotation (Government of Canada Publications, 2011). In this context, the Oxford Street branch, situated in London of McDonalds will be analysed for the study. Demand Factors of prompt food in London This segment describes the nature of immediate food demand and relative factors that enamour the demand of refrain food products in London. The fast food market is monopoly in nature. The demand for fast food is not completely elastic. Any restaurant can increase the cost of fast food products without diminishing the demand to zero. There is a certain demand curve for each fast food restaurants. A restaurant can sell more products by minimizing their products cost or sell slight by increasing the cost of the products. However, no restaurant can make excess profit because on that point are substitute products in other restaurants (Baker, 2001). 0 In the above graph, the demand curve of fast food products is D1 and it is downward sloping because as the price of fast food products increase, the quantity i.e. sales decreases. The veer in demand is shown as D2 curve when the demand for fast food products will increase. Londons Oxford Street is known as the most famous and developed area in the city. concourse who worry in Oxford Street are quite modern including those who have comparatively lower income than others. There and many professionals and students in that respect who have wide awake lifestyles and many people even perform two jobs. Thus, they are busy in their jobs for considerable amount of time of a day. Thus, many households have limited time to progress to foods for day and/or night. Therefore, the people have less cooking tendency and is of the belief that eating fast food is comparatively better value for money. Table Showing Frequency of Consuming Food of People in the UK blood line (Bagwell & Doff, 2009). From the above table, it can be seen that three-year-old people of age group betwixt 1524 years prefer to eat in fast food restaurants. They are the largest division of fast food customers. Men are most frequent customers of fast food restaurants compared to woman. There is backward relationship with consuming fast food and age because as the age increases the preference of eating fast food decreases. The following chart shows the spending on fast food products in London in the year 2006. Chart Showing Spending on fast Food in London Source (Bagwell & Doff, 2009). The above chart depicts that majority of customers spent minimum ?3 on fast food at Oxford Street branch. Y oung school students have a high demand for fast food. It has been found that young students spend average ?1.01 and 74 pence on fast food while going to school and sexual climax back from school. In the year 2007, ?82 was spent per person for fast food. There are divers(a) reasons for high demand of fast food. The factors which influence the demand of fast food products are speed of delivery, taste, inexpensiveness and availability. Besides, there are other factors such as convenience, scarcity of time and comfort which drive

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