Word: mcdonald
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...Staff writer Timothy M. McDonald can be reached at tmcdonal@fas.harvard.edu...
...been persuaded by his wife to scale back and pay the debt down, but he was never too worried about it. "I see more opportunities to make money in the future," he says. Though not as extravagant as Kapoor, Pawanjit Singh, 25, a manager of a busy McDonald's restaurant in one of New Delhi's main markets, splurged on secondhand golf clubs, which set him back more than $400. He heads out to a golf course (golf is a prestigious hobby in Asia) or a driving range every weekend. "I don't think people my age right now want...
...cassette tape. ATMs are placed in locations where twentysomethings work, such as outside call centers. The bank is even targeting the under-18 crowd with a special debit card that allows kids to withdraw money from ATMs?with a spending limit imposed by their parents?and get discounts at McDonald's and Pizza Hut. "The young generation is changing the consumer-financing landscape," says Sarvesh Sarup, Citibank's chief of consumer banking in Bombay. "Targeting of that segment is very, very critical...
...Global marketers still have to cater to Indian tastes, which can take some doing. Just ask Vikram Bakshi, managing director of McDonald's India. When McDonald's opened its first outlet in 1996, it had to toss out much of its standard menu: Hindus consider a cow sacred and won't eat beef. Bakshi tried introducing India-friendly alternatives. In place of the classic Big Mac, Bakshi offered a burger with mutton patties, christening it the Maharaja Mac after India's princely historic rulers. The sandwich flopped and was pulled from the menu...
...McDonald's' menu in India is so customized to Indian tastes that an American would scarcely recognize it. The best seller is the McAloo Tikki burger, a vegetarian fried-potato patty with cheese. The newest entry is the McCurry Pan, a flat pastry filled with hot broccoli or chicken curry. The result: while the floundering fast-food giant scales back and shuts restaurants elsewhere in the world, in India it can't dish out the veggie burgers fast enough. McDonald's has 48 stores in India, 60% of them built in the past 18 months. The outlets see on average...