Mega brands aren’t infallible and with the performance of fast food giant McDonald’s faring below par on the stock exchange for quite some time, it’s about to embark on 18 months of developing new menu items and a significant rebrand. Why? Fundamentally the brand needs to be perceived as an appealing place to eat, not just a cheap take-out.
The move has been prompted by the hiding McDonald’s has been receiving from fast-growing and wholesome food brand Chipotle Mexican Grill — yet another hint consumers are moving toward healthier food choices.
Getting the basics right
Basics to be improved include better value, service, marketing and menu, which is why the brand is set to introduce sustainable beef in 2016, and has added fruit and vegetable options to kiddie meals instead of chips.
“The aim is to become a more trusted and respected brand, and create a dining experience customers will feel good about,” says Don Thompson, McDonald’s CEO. In recent years the brand’s reputation has been eroded by service problems, dietary concerns, lack of new and exciting product launches, employee pay issues, and 38% of online conversations about the brand being negative.