The pricing policy of McDonald's is to attract more customers by having a wide range of products in each price range, which allows it to attract customers from each market segment. This allows McDonalds management to have a pricing strategy based on the quality and demand of the various products sold to the organization's customers. There are various factors that influence pricing decisions (inflation, suppliers, competition, demand and product quality or sensitivity). Value Pricing is applied when external factors such as inflation, recession or competition force the company to offer value products to maintain sales. Many of McDonald's meals offer great value for money. The price the customer pays makes the customer feel like they are getting a lot of product. McDonald's started using value pricing strategies a long time ago; for example, McDonald's introduced the Big Mac Value Pack in 1985 for just $2.99. Value Pricing strategy is used by McDonald's on a large scale and is the main pricing strategy used by fast food restaurant
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