Assignment Marketing Essentials- McDonald
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Added on 2020-06-05
Assignment Marketing Essentials- McDonald
Added on 2020-06-05
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MARKETINGESSENTIALS
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Roles and responsibility of marketing function of McDonald..........................................1P2 Roles and responsibility of marketing of McDonald:.......................................................3P3. Marketing mix of McDonald and Burger King to achieve business objectives...............6P4) Elements of Marketing plan:............................................................................................9CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
INTRODUCTIONMarketing are essential for running business activities. Theses are activities which arerelated with selling and promoting of products which are manufactured by different companies.Marketing activities are related with making awareness about different products and services.Effective marketing plans and strategies are used by McDonald for increasing their sales andearn huge profits. Thus it can be evaluated that marketing activities are related with selling ofproducts and services to potential customers (Adamson, 2011). Marketing essentials are relatedwith different theories which are related with real business world. The basic aim of marketingrelated with identification and satisfaction of different needs and wants of customers.Marketing mix are standard systems which are designed to formulate plans and policiesfor development and promotion of products. McDonald are helpful in making the businessleaders understand the changes and synergy which are related with core elements. New productsare development by company according to requirements of people so that they can earn hugeprofits and provide services to people within its designed territories. McDonald had adoptedvarious pricing strategies which are helpful in gaining competitive advantages. Variouscompetitive strategies are adopted in areas of operations, cost controlling policies, maintaininggood relations with customers and adopting various channel for distribution of products andservices.TASK 1P1. Roles and responsibilities of marketing function of McDonaldMarketing consists of vital activities which are related with selling and distribution ofproducts and services. The basic aim of these activities is related with satisfaction of differentialneeds and wants of customers by making products available to them according to their choices(Batt, 2013).Example: Various offers are available for customers which allow McDonald products atrelatively low prices. These promotional strategies are adopted by company which are helpful inattracting large number of customers who can purchase their products.Roles and responsibilities of marketing functions of McDonald are:Business owners of McDonald revealed that if they want to achieve success by makingmoney then, they have to make plans which are helpful in effective selling of their products andservices. Different marketing functions which are adopted by cited organisation includes:1
Distribution and Channel management:The distribution policy of McDonald arerelated with effective strategies which are helpful in selling food products to people who want toconsume them. Making ideas for business activities are not sufficient. There should be planningof different strategies which are helpful in distributing products and services to customers.Distribution outlets can be offline or online. Offline distribution implies that customers have togo to shops to purchase products (Blythe, 2012). These shops are located where target customersare more who are consuming the products of cited company. As the economy is growing andpeople are leading a busy life so there should be more focus on creating availability of productsonline so that customers can easily purchase the products by sitting at home.Market Research: It deals with gathering information about related products in relationto target customers, market segmentation, differential needs of customers and availability ofproducts and services. Target customers means the potential people who will be purchasinggoods and services. Thus different trends are followed by McDonald which are helpful incapturing new market areas where products can be sold which increasing profits.Financing: It is an important marketing function is related with arranging finance forrunning different business activities. Availability of funds is an essential requirement of businessas it helps them in carrying out business in an effective manner. Company can take financial helpfrom investors, money lenders, loans from financial capital for advertisement and promotions ofproducts and services which are related to marketing (Desai, 2013).Pricing: Pricing is also an essential function as it is related with deciding about prices ofproducts which are economical and with which customers will get satisfied. Different strategiesrelated to prices should be adopted keeping in mind the pricing policies which are adopted bycompetitor’s organisations. Right prices should be decided for the products as it helps inretention of customers for longer duration. If the prices of products are too high then customerswill not purchase the products. Right prices can be selected with the help of trials and marketingresearch of related products.Product and service management: After determining the target market and evaluatingprices of products, next step is related with effective management of products and services ofMcDonald. This can be effectively achieved by knowing about different wants and needs ofcustomers and through solving problems which are faced by customers about different servicesoffered by McDonald. The products of firms should be fresh and they should contain high2
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