This is one of the most favorite products that I consume every day. It is very delicious and offers a very comforting taste that makes one yearn for more all the time. There are a number of factors affecting the demand for McDonald’s hamburger. Of importance is the psychological factor. This factor consists of four components; how consumers perceive the product, the attitude they have towards it, motivation as well as beliefs (McDonald’s Corporation, 2016). Customers are aware that McDonald has always strived to provide products that the consumers demand. This entails prioritization on excellent service delivery to the customers. Secondly, the product that the company offers is of high quality making them the best choice for more of the customers. The company is also known in its uniqueness of maintaining hygiene and cleanliness in their premises as well as the products they are releasing to the market. Any changes in the psychological factors affect the equilibrium price of the products. When customers develop a negative view of the product the demand goes down and the equilibrium prices then fall (McDonald’s Corporation, 2016). This applies to the quality of the product; when the quality deteriorates the demand of the product falls thus leading to the fall of the equilibrium price of the product.

The sales price offered by McDonald’s has always been attractive to the consumers. This has enabled customers to be able to afford their products thus the high purchasing power is maintained for a longer time. Similarly, the company has been able to diversify their products. They have been able to introduce a new chicken legend type of burger, a step that has made them outdo their competitors. Others broad variety of healthy products that have been launched by the company includes vegetarian burgers, organic milk in addition to salads (McDonald’s Corporation, 2016). Their loyal consumers have been provided with a better opportunity to choose the most desired product from the variety. The consumers feel also advantaged by the fact that they can buy a variety of products from their trusted company. Diversification of the products has improved the demand of the hamburgers over time. Changes in the price and diversification of the product lead to a change in the equilibrium price. When the market price fall the demand of the hamburger increases; this causes an increase in the demand of the product with a net increase in the equilibrium price. When the price raises the demand for hamburger falls and the impact is fall in the equilibrium price.

The marketing strategy employed by McDonald’s has enabled it to grow into a strong recognizable brand. Their widespread and huge investment in the advertisement of their products has attracted a commendable market demand. This is supported by the fact that the buying behavior of consumers is depends on the awareness and recognition they have towards the pro