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Raymond Albert Kroc

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INTRODUCTION

Name: Raymond Albert Kroc.

Born: 5th October, 1902.

Famous for: McDonald’s Fast Food.

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OVERVIEW

Founder of the famous and the most successful McDonald’s Franchise.

Introduced Young labor force to enable the availability of a standard menu at low costs.

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OVERVIEW

McDonald’s is one of the world’s largest fast food chain of restaurants

Serves almost 47 million customers daily.

Earnings are from the franchisees as well as sales from company operated restaurants.

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OVERVIEW

McDonald’s has now expanded to various countries thus introducing country specific menus.

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EARLY LIFE

In the 1950s he tried at various professions like a musician, working at a radio station.

Finally he ended up becoming a multi-mixer milkshake machine sales-man, which enabled him to travel across the country.

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EARLY LIFE

Selling the milkshake machines to every restaurant that opened he partnered with the McDonald brothers in opening the McDonald’s franchise.

In 1961 he purchased the company from the McDonald brothers for $2.7 million.

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EARLY LIFE

Kroc revolutionized the franchisee system with strict production rules.

The Franchisees decided on the Marketing strategies of the products.

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CAREER

Worked as a Musician at various places around 1922.

In 1937 invented the multi-mixer which could serve 5 glasses at a time.

In 1941 founded his own company to solely distribute the multi-mixer.

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CAREER

Met McDonald brothers in 1954, after some negotiations they joined Ray Kroc in partnership.

The first McDonald’s restaurant was opened on 15th April, 1955 at Des Plaines, Illinois.

It recorded a sale of $ 366.12 on the first day.

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CAREER

By 1961 there were 130 McDonald’s outlets and in that very year Ray Kroc bought McDonald’s for $ 2.7 million.

By 1984 McDonald’s had 8300 restaurants in 34 countries with sales of $ 10 billion.

Mass production of food products with uniformity was the biggest achievement.

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MARKETING STRATEGIES

Along with Customer Demands Ray Kroc followed the “Quality, Service and Cleanliness” policy.

Product development and changing according market demands helps McDonald’s to top the market.

Societal marketing also helped in keeping Environmental concerns in check.

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MARKETING STRATEGIES

Promotions at events like Olympic games helped to carry McDonalds to different countries.

McDonald’s also follow relationship marketing.

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