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Benefits and Costs of Market Orientation of Mcdonalds

   

Added on  2020-01-28

18 Pages4848 Words37 Views
TOP077: MARKETING PRINCIPLESSTUDENT NAME:STUDENT ID:UNIVERSITY:1
Benefits and Costs of Market Orientation of Mcdonalds_1
Executive Summary:On considering the present study it reflects a depth analysis of the diverse factors thathelp in describing the marketing process with respect to a specific company underconsideration. The selected company is evaluated on the basis of the advantages andcosts constituting the marketing orientation. The organisational concepts ofsegmentation, targeting and positioning are identified, addressed and rectified bylocating both the determinants of micro as well as the macro environment that have animpact upon the marketing decision. The factors that contribute towards varying thebehavior of the customers are analysed in detail. It is discussed that competitiveadvantages are maintained through an establishment of product variation. On the basisof two different segments, a planned marketing mix with respect to consumer markets isillustrated. Services to business in the context of the consumer's demands areaddressed. The effect of a difference in marketing backgrounds of domestic as well asinternational sphere is explained with rationale. Table of content2
Benefits and Costs of Market Orientation of Mcdonalds_2
Introduction........................................................................................................................5Task 1:...............................................................................................................................5LO1: Concept and Process of Marketing..........................................................................5AC 1.1: Process of Marketing............................................................................................5AC 1.2 Benefits and Costs of Market Orientation of McDonald’s.....................................6LO2: Concept of Segmentation, Targeting, and Positioning.............................................7AC 2.1: Tools and techniques used to take marketing decision to determine the macroand micro environmental factors.......................................................................................7AC 2.2: The segmentation criteria for varied market products..........................................8AC 2.3: Particular strategy used to target the specific service or product........................8AC 2.4: Varying buying behavior having impact upon marketing activities.......................9AC 2.5: Reason for new positioning of product or service................................................9LO3: Elements of Extended Marketing Mix.....................................................................10AC 3.1: Products that are developed in order to uphold the competitive advantage......10AC 3.2: Arrangement of distribution with an intention to give customer expediency......10AC 3.3: Prices that need to set in order to reflect the organisation’s objectives and theconditions of market.........................................................................................................11AC 3.4: Integration of promotional activity to accomplish the prime objectives ofmarketing.........................................................................................................................12AC 3.5: The added essentials of the enlarged marketing mix........................................12Task 2: [M3].....................................................................................................................13LO4: Addressing the Marketing Mix................................................................................13AC 4.1: Recommendation of Marketing Mixes for Two Different Segments of Customers.........................................................................................................................................13AC 4.2: Business to Business versus Business to Customer Marketing of McDonald’s13AC 4.3: Use of International Marketing Strategies..........................................................14Conclusion:......................................................................................................................15Reference List:.................................................................................................................163
Benefits and Costs of Market Orientation of Mcdonalds_3
IntroductionThe assignment study aims to evaluate the principles of marketing, enabling theindividual to understand the concepts and apply the same in making a marketing mixregarding various situations and contexts. In this study, the concept and process ofmarketing have been understood, followed by the understanding and application of theconcept of Segmentation Targeting and Processing for marketing of the new product inthe food market. Further, the elements of marketing mix have been explained andunderstood enabling to make a marketing mix and the differences between domesticand international marketing have been thoroughly understood. Task 1: LO1: Concept and Process of MarketingAC 1.1: Process of MarketingFigure 1: Elements of Marketing Process(Source: Amstrong et al. 2014, p.1)4
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