If no, go to (Ref 1).
If yes, go to (Ref 2).
Ref 1 => That's why they make more money than you.
Ref 2 => Why aren't you making more money than them in this case?
This example is actually slightly modified from an extract in Robert Kiyosaki's Cashflow Quadrant book.
As many of us know, McDonald's burgers are so-so.
It really isn't hard to find places that sell better burgers, or people who make better ones.
According to Ann Sieg, the moral of the story is that how good a product is, is not "all that important".
In a sense that it is often overemphasized at the expense of other more important selling factors.
You can have the best revolutionary unbeatable product the world have ever seen.
But if you suck at your marketing sales (or lack a great marketing team), you will NEVER get close to the kind of BIG money that rival companies (with GREAT marketing) make.
That’s why the best genius can die penniless.
While the Ah Beng on the street can make millions.
5 comments:
I love McDonalds... yum yum...
I think it all boils down to marketing and promotion.I prefer Burger King but McD seem to be much more popular in M'sia coz of the extravagant promo going on...now they're promoting cheap lunch meals from 12-3p.m in M'sia!There'll be more obese M'sians soon!
Marketing is one thing. Operations efficiency is another.
McDonald's is a fast food chain. Why is it so 'fast'? How could it maintain freshness of food?
In my MBA assignment, I study A&W, another fast food chain in Malaysia. It used to serve fresh food but waiting time was too long. Now it changes its strategies by having the burgers pre-cooked. Waiting time is cut short, but the food is not fresh.
McDonald's burgers are like shit so I don't eat them. But the restaurant is a good place for me to have a drink and hang out and read a book, especially after 2 am.
Hippo:
Burger King > McDonalds.
The only reason why I still go McDonalds is the fries. =p
Cherish Tulips:
The thought of Malaysia turning to another flabby American society sure gives me goose pimples.
khengsiong:
Agree that operational efficiency is another impt factor. Amazing how many of us place "fast" over "fresh", isn't it? Welcome to the fast paced Rat's Race!
numbernine:
Yes, a good place for eye candy at 2am. =p
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