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Assignment - Marketing Essentials of McDonald's

   

Added on  2020-10-04

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Marketing Essentials ofMcDonald's
Assignment - Marketing Essentials of McDonald's_1

Table of ContentsINTRODUCTION...........................................................................................................................4TASK 1............................................................................................................................................4P1. Key roles and responsibilities of the marketing function of McDonald's........................4P2. Roles and responsibilities of marketing relate to the wider organisational context.........5TASK 2............................................................................................................................................7P3. Marketing Mix of McDonald's- The 7 P's of marketing..................................................7TASK 3..........................................................................................................................................10P4. Basic marketing plan for McDonald's...........................................................................10CONCLUSION .............................................................................................................................13REFERENCES..............................................................................................................................14
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Illustration IndexIllustration 1: Marketing Mix- The 7 P's of Marketing...................................................................9Illustration 2: Marketing Plan........................................................................................................10
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INTRODUCTIONMarketing is a process which is used by the company to buy or sell their products in themarket in order to capture value from customers. It is one of the prime components of anybusiness to establish their name. It is generally used to satisfy the needs and wants of customers.This report covers a detailed synopsis of the marketing function of McDonald's company. It is afast food venture known for its burgers, fries and shakes, which is currently running successfullyin so many countries. It is one of the largest restaurant chain, serving over millions of customersdaily across country. This report will also cover the topics like key roles and responsibilities ofthe marketing function and how these marketing strategies are related to McDonald's. It will alsodiscuss about the ways which is applied by McDonald's for marketing mix and planningprocesses to achieve their business objectives and also shows how to prepare a basic marketingplan for McDonald's.TASK 1P1.Key roles and responsibilities of the marketing function of McDonald'sMarketing function is key process which helps the company to identify and successfullypromotes their product in the market. It includes functions like, market research, producing amarketing plan, and product development, as well as strategically overseeing advertising,promotion, distribution, customer service and public relations. All these factors are interrelatedwith each other and has to be work properly. Marketing generally identifies customers demandand tries to solve it as soon as possible. Planning a strategy is the basic step in marketing. It playsa significant role in developing any business. To achieve their objectives, McDonald's needs tostart flexible techniques which can adjust with the customer's perception and demand. There aredifferent roles and responsibilities of the marketing functions of McDonald's to maintain thebrand name in the market. Marketing team of McDonald's ensures that every customer they areserving is happy with their services and food provided to them (Armstrong, G. and et.al, 2015).For this the marketing team of McDonald's segments their customers into different groups on thebasis of demographic, geographic and psycho graphic variables in the market and also keeping inmind the changing taste and preferences of the customers.Due to rapid change in consumption pattern, customer's buying behavior and rise inincome level, McDonald's has started using differentiated targeting strategy to overcome theissues of customer's needs. McDonald's tries to come up with new products in every short period
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