McDonald’s: From Rags to Riches
The fast-food chain McDonald’s is one of the world’s most popular and recognized brands. But you probably don’t know that it had some very humble beginnings. In 1940, two brothers opened the McDonald’s Bar-B-Que drive-in. Just a few years later they shut the operation down to slim down their menu and offer up just nine items made using their unique “Speedee Service System”. In 1954, salesman Ray Kroc sold the brothers a mixer, but seeing an even bigger opportunity, he bought his own McDonald’s franchise. Soon after, Kroc decided to purchase the whole company and opened dozens across the country in an aggressive marketing campaign. More than 50 years later, there are now 32,000 locations globally. So the moral of the story is that even a great idea needs the right entrepreneur to create the best success stories.
Getting the inside scoop with media monitoring
There is an old adage that says knowledge is power. This is why it is important for companies to understand their customers’ needs and wants. But where to get the right answers? One possibility is using media monitoring, which includes sifting through print, television and online media to find out more about key sector trends as well as what is happening right now, throughout the region. When analyzed, media coverage often provides clues and insights into consumers and what is on their minds that can be used to develop better communications strategies, community outreach programs and market research, which is vital for companies to grow and flourish in Egypt and beyond. As part of our host of specialized advisory and consultancy services in the communication section, CID proficiently develops its knowledge base, by continuously monitoring the large array of free information provided by the media. CID then analyzes that data to discover the latest trends and forecast key market projections. The analysis is compiled and summarized in a detailed report to provide clients with that extra edge in their endeavors.
A Hallmark card for every occasion? Not so in France!
Great ideas are at the heart of any successful product or brand. But products that work in one country or market could face challenges when introduced elsewhere. Take Hallmark cards, for example. Customers in North American and United Kingdom love the idea of adding that special touch to holidays and special occasions with a Hallmark greeting card.
But the company failed to make much headway in France, where residents prefer to write their own, unique messages inside blank cards.
Eventually Hallmark had to pull out of the French market when sales continued to slump. This proves that Hallmark will only succeed in markets that want to create their own special moments, with a little help from a Hallmark card. So for all businesses out there, don’t confuse the era of globalization with an era of homogenization.