Complete 4 page APA formatted essay: Hospitality: Providing Quality Service.Download file to see previous pages... This is an apt way of attracting a niche market. These are some of the aspects used b

Complete 4 page APA formatted essay: Hospitality: Providing Quality Service.

This is an apt way of attracting a niche market. These are some of the aspects used by McDonald’s in ensuring it has an enhanced performance in the market. With such approaches, the business has a number of advantages. First, it identifies the needs of the consumers as it looks for better ways of satisfying such needs. Secondly, it is in a position to note the total demand in the market. Thirdly, this approach ensures the business has added advantages over its competitors in the market. Fourthly, this enables the business to note any untapped markets that would be a niche demand for its products. Lastly, it helps in testing the performance of the initiated strategies. When the strategies are working for the benefit of the business, the business will try to enhance the strategies to reach a tipping point. Products and services are fundamental in denoting the performance of a business. A business that has a soft spot for high quality products has an added advantage in the market. For example, a business that provides customers with unlevelled quality of products will enhance customer loyalty. Such customers are not likely to rely on the products offered by the competitors. In this instance, McDonald’s is a business that has focused its concentration on production of high quality products and services (Ferrell and Hartline, 2011). As a fact, the business has been existent for a long time. As such, the business has been able to go through all the developmental stages of the product. This starts with the introduction of the products to the market. At this stage, the product is in its infant stages. As such, it will only appeal to a limited number of customers. After some time, the product goes through the development and growth stage. This is where the product is enhanced to conform to the needs of the market. At such a time, the market starts to appreciate the quality of the products. Consequentially, the product will go through rebranding, change in flavours and quality. Through the developmental stage, the product will reach its maturity. This is the peak of the product cycle. After reaching this stage, the business will have to ensure the standards of production are maintained. At this point, the customers will appreciate the efforts of the business as it has developed the product through all the stages. Progressively, the clientele will improve as the demand for the products and services increase. To enhance its performance, the business has to embark on extensive marketing. Since the product is of high quality, extensive marketing will enhance its revenue collection. McDonald’s is a business that has established a niche market. With its prevalence in the market, it has an added advantage over the other competitors. This has been enhanced by the pricing of its commodities. Since the business has recorded recommendable growth over the years, it has increased its production. According to the economics of large scale, when a company increases its production, the costs are likely to drop. This advantage is experienced by McDonald’s. With a drop in the costs of production, the business can embark on enhancing the quality of the products (Doole and Lowe, 2008). Apparently, this will not affect the pricing. In some instances, businesses reduce the price of commodities in the market. However, this does not affect the quality of the products. With such an approach, the business likely to record a positive accrual in the market.