Sustaining Competitive Advantage through Effective Marketing Mix Planning

The provided content discusses developing products to sustain competitive advantage in the market and illustrates a marketing mix planning. It also touches on various aspects of marketing including relationship marketing, market segmentation, and micro-macro environmental analysis. The references cited include books, articles, and online sources on marketing principles, management, and strategy.

Contents:
Introduction ………….………………………………………………………………………..3
1.1 Explain the various elements of the marketing…………...………………………………4
1.2 Evaluate the benefits and costs of a marketing orientation for a selected
organisation…………………………………………………………………………….....5
2.1 Show macro and micro environmental factors which influence marketing
decisions……...5
2.2 Propose segmentation criteria to be used for products in different
markets………………...7
2.3 Choose a targeting strategy for a selected product/service…………………………………
8
2.4 Demonstrate how buyer behaviour effects marketing activities in different
buying………..9
2.5 Propose new positioning for a selected product/service
………………………………….10
3.1 Explain how products are developed to sustain competitive advantage …………………
11
3.2 Explain how distribution is arranged to provide customer convenience
………………….12
3.3 Explain how prices are set to reflect an organisation’s objectives and market
conditions...12
3.4 Illustrate how promotional activity is integrated to achieve marketing
objectives………..13
3.5 Analyse the additional elements of the extended marketing
mix………………………….14
4.1 Plan marketing mixes for two different segments in customer
markets…………………...15
1

4.2 Illustrate differences in marketing products and services to businesses rather than
consumers……………………………………………………………………………………16
4.3 Show how and why international marketing differs from domestic
marketing…………...16
Conclusion……………………………………………………………………………………18
References……………………………………………………………………………………19
Introduction
In the new arena of business world, the succession of business really depends on the proper
marketing strategy. In modern business era marketing activities becomes more complex to
create market share. Organization like McDonalds needs to follow several marketing
strategies while it enters into international market. Here in this assignment it will be
described several marketing process and benefits of marketing orientation of McDonald’s.
Several micro and macro environmental factors will be discussed. Also it will be made a
targeting strategy for a product of McDonald’s. Moreover, it will be discussed the way of
developing products to sustain competitive advantage in market. In addition, a marketing mix
planning will be illustrated here.
2

Explain the various elements of the marketing process
In the tasks of marketing the main theme lies in proper delivery of products and services to
the desired customers and to acquire more customers and retain them. Here another main
theme lies on that is, making loyal and satisfied customer. Therefore marketing process will
be smooth the more objective will be gained. In McDonald’s also a general process for
marketing is maintained. That process is mentioned below.
Marketing process in McDonald’s: Situation analysis  Marketing Strategy  Marketing
Mix Decisions  Implementation & Control.
Figure 1.1: Marketing Process of McDonald’s (Self Designed)
In the very first step of situation analysis it is maintained carefully about the execution of
internal resources & external analysis. Such in the case 5C analysis, past analysis & SOWT
analysis is included (Grönroos, 2004). And Then in McDonald’s marketing strategy is
adopted for identifying the customer need and satisfy that. Then marketing mix is concluded
with the combination of product, price, promotion and place. At the last the strategy chosen
from various options is implemented and control actions are taken.
Evaluate the benefits and costs of a marketing orientation for a selected organization
In the new era of information technology expenditure on marketing is huge. It is calculated
that companies expend around 350 billion dollars each year. But the amount is not the same
for every company. Companies advertising expense depends on the size & financial
resources. More over in the new arena of business the concept of occasional advertisement is
arrived (Hennig & Gwinne, 2002.). But before investing on marketing and advertisement the
company thinks about the benefit & return from the cost are occurring.
3

McDonald’s invests a lot on marketing and advertising to make it top in the list of world’s
food chain. As a matter of food it is more important for the company to make concern in the
quality of food but as the world’s largest franchise is this, so a huge amount of currency is
invested in the field of advertisement. A dynamic survey says that McDonald’s spend more
than 990 million dollars each year. The advertisement generally goes on the tv channels of
various countries. And all this advertisement made McDonald’s the largest food chain in the
world marked as the major benefit of marketing.
Benefits
There are several benefits of marketing orientation which include, customer value,
responds to demand, fulfilling demand. McDonald's focuses on customer value which
includes needs and wants related to products or services. An organization provides reliable
products at a reasonable price to their buyers. It affects the performance of the organization
because buyers are satisfied with the services which are provided by the employees and
which increases the numbers of consumers. Apart from this, corporation identifies the
demand of the consumer in the market for developing new product. By taking regular
feedback from customer, the employee can make improvements in their products. It helps
organization to maintain relationship with customers as well as goodwill in the market.
Customer centric approach is important for the company which offer positive
customer experience which is beneficial for the long term growth. An organization strives for
satisfaction of consumer to sustain in the marketplace. In this way, McDonald's develops
CRM software for understanding the customer and needs which helps to collect the data
related to the customer information and enhance the consumer experience. On the other hand,
McDonald's faces many challenges because various competitors sell the products in Food
industry like Burger king, KFC etc. but organization has uniqueness of the products and serve
low cost to their buyers.
Marketing orientation plays significant role in the organization and it is required by
the businesses to pay extra cost regarding the same. Company research to identify the
consumer needs and wants under which manager takes the feedback and conducts the survey,
all these activities organized by the firm increases the cost of operations. In this way,
McDonald's also needs to pay amount of advertising cost to carry out activities such as print
the brochures, banner advertising, all the expenses incurred by the firm. All these activities
are conducted by the manager which results in increasing the overall cost of operations.
4

Apart from this, company is not able to predict the some changes in future and due to this, the
organization suffer some losses.
2.1 Show macro and micro environmental factors which influence marketing decisions
As a food chain, McDonald’s is affected by the various channel of environment from internal
& external pressure. The macro environment refers the combined factors of the economy and
position & the Micro environment refers the combined factors of the specific industry.
Macro environment of the McDonald's
 Political- Government make regulatory frameworks and policies for the
organization’s growth and development. McDonald's has closely considered these
factors to create an effective impact on business day to day operations. Furthermore,
this helps in developing pricing, distribution channels and promotional activities.
 Economical- It includes exchange rate, inflation, bank rate, growth rate, employment,
education rate etc. It directly affects business prospects of the food industry.
McDonald’s undertakes effective market research for enhancing business operations
and productions. This factor helps in evaluating the business cost and growth factor.
Higher growth rate helps the business to increase its sales and profits.
 Social- The market trends and consumer preferences for food and health awareness is
changing in the market. Company focuses on target customer under that it produces
the products and services according to the buyer’s taste and preferences.
 Technological- It plays significant role in the fast food industry. By using advance
technology, organization improves day to day operation and productivity for reducing
waste time, resources. Company provide Wi-Fi facility at the restaurant area which
helps in attracting more and more customers.
 Environment- Environmental changes directly impacts on raw material and available
resource in the organization. McDonald's adopts sustainable practises to operate in the
competitive business environment. For example, it supplies the products in the paper
bag.
5

 Legal- An organization can follow the rules and regulatory framework. The business
policy of McDonald's is developed according to the local regulations and government
policies.
Figure 1.2: Macro and Micro environment of McDonald’s (Self designed)
If done a synopsis on the macro environment factors of McDonald’s here will be, agents,
distributors, suppliers and other distributive intermediaries and firms that are competing
(Alserhan, 2011). On another extent the other series of factors include political environment,
social environment, economic environment, geographic environment, legal environment,
cultural environment, technological environment etc. So here the environmental factors
consist of the people, organization and forces outside the firm. Also there is a sub-division of
the macro environment of the company.
If drawn attention on the micro environment of McDonald’s will be found out the factor over
which the firm has control or which can be used in gaining information for marketing
6

operation. The factors here are customers, suppliers, employees, distribution channels and
suppliers, competitors, investors and media or general public.
Micro environment of the McDonald's
 Customers- Consumers are crucial part of the organization as they contribute a lot in
overall growth and development. They want the company to deliver best quality of
products at the reasonable price.
 Suppliers- Suppliers are the most vital factor of micro environment which link the
organization and deliver the customer value. In this way, they provide the resources
time to time which are required by the organization to produce its goods and services.
Furthermore, if suppliers not able to render the raw material which affects the
production in the organization then it will impact the performance of the organization
because they not able to produce the goods on time which creates decline in sales of
food industry.
 Employees- An organization provide training to their employees that help the
workers to enhance its performance and knowledge. It assists human resource to
deliver good services by the McDonald's and customers.
 Distribution channels- McDonald's provide goods through the delivery men and its
employees which make sure that the order is received by the buyers. If company is not
able to adopt the distribution channels then it will affect the whole strategy. It impacts
performance of organization and hamper the brand image in the market.
 General public- McDonald's focuses on society welfare under which employees
produces the products and services without harming the general public.
 Competitors- Many competitors sale the products in the food industry like Burger
king.
 Investors- Investors wants to get information related to the internal environment of
the company. McDonald's maintain the relation with the investor and t. It affects the
performance of organization and . It results in increasing the productivity and market
share.
7

2.2 Propose segmentation criteria to be used for products in different markets
Market segmenting is a two-steps process: broad market products or services and making
target market based on the selected target criteria. Generally, the term segmenting refers to
division of the products and services based on the different selected criteria it may be such
like age, gender, race, skin colour etc.
Figure 1.3: Segmenting strategies of McDonald’s (Bearden and Ingram, 2002)
For segmenting market McDonald’s generally at first goes for geographic segmentation
where the segmentation is done based on country, nation, states, region, and cities. For
example, in Muslim countries McDonald does not allow selling hamburgers as they do not
consume the meat of pig. In demographic segment the main focus laid on age, gender, sex,
family, education etc. The psychological segment works on the point of life style, social
class, personality etc. Then the behavioural segment work on usage rate, loyalty, occasions,
attitude, benefits, status etc. Where the sales rate is high and the people are most willing to
spend on food specially those areas are chosen by McDonalds to set up their franchise. The
food menu is also prepared based on the likings of the people of that locality and region.
8

2.3 Choose a targeting strategy for a selected product/service
To gain higher sale of product and service every company mostly target a specific market
segment. And from the targeted market the companies carry up with their lion’s share of
profit. So for targeting market the company should need to invest a lot because if the target is
made wrong the whole investment on specific arena will be wasted.
Figure 1.4: Targeting strategy of McDonald’s (Crossland,2015)
So as to target the market McDonald’s sometimes go for mass marketing or undifferentiated
marketing. In the case of the markets of same nature it is taken as a strategy. For example, the
beverage of lemonade is universal for every food stores of McDonald’s. Then another
strategy is taken by McDonald’s is differentiated marketing. Differentiated marketing means
market segmentation. So here in this case different types of food items are produced and
served to different types of market based on some selected criteria discussed before
(Brassington & Pettitt, 2003). Then the strategy comes here customized marketing adopted by
McDonald’s. Here in the strategy of this content the product or the service is customized to
the customers according to their desire. And at the last focused marketing means the target of
acquiring market that is highly potential but didn’t identified still by anyone.
There are different types of distribution channels one is direct and indirect which deliver
products and services to their customers. Under direct distribution, McDonald's provide
9

products through employees at the restaurant premises. In Indirect distribution, organization
appoints the delivery men who deliver product at the buyer’s house. Apart from this,
McDonald's has opened various outlets in the city which helps customers to easily approach
the stores.
2.4 Demonstrate how buyer behavior affects marketing activities in different buying
situations
Time to time, place to place, nation to nation buyers or customers behave different to the
product or service of company. The customers want a high quality, legal price proper delivery
and after buy support from the company. In the case of food business or chain food shop the
main attention of the customers is good quality, good environment, mass consent and proper
placement. So McDonald’s pay attention to the behaviour of the customers as they know
customers are the key source of revenue and their attention is to acquire customers and retain
customers (Khan, 2011).
Figure 1.5: Buyers behaviour factors affect McDonald’s (Flat World Knowledge, 2013)
In this case of buyer behaviour, at first come the cultural factors. In the culture the buyers
behave according to their social class and sub-culture of the society. And then it come the
10

social factor. Here the learning from family, social role and status and reference group play
vital role. Then in the case of personal factor the age, occupation, economic status, lifestyle,
economic satiation affects food consumption behaviour. Then the psychological factors such
like as motivation, perception, learning and attitudes play role in the case of food habit.
2.5 Propose new positioning for a selected product/service
Market positioning means to placing value of product and service over the mind of the
customers (Sheehan, 2011). McDonald’s has become more popular in the food chain market
by strong positioning strategy by the various aspects. Whenever a new product is launched in
market, marketers try to satisfy the customers by various efforts and then if the customers are
satisfied they become loyal customers.
Figure 1.6: Positioning strategy of McDonald’s. (Sheehan, 2011).
In the positioning strategy at first the marketers try to target the customers of different
localities with the best fits (Grönroos, 2004). Then all the targeted customers are influenced
through different promotional activities to purchase from McDonald’s. Then another most
significant focus is drawn on the competitive analysis. McDonald’s shows in comparison to
the customers how the food is more batter than the food of other food chain shop. At this the
customers get addicted to the brand. Then by the various economics and functional skills
McDonald’s create brand position in customer’s mind.
11

McDonald's launched the new product like Salad in UK market which are included the
products benefits, quality etc. These are described as below:
 Positioning by attributes and benefits- Company launch the new product in the
market so that select the saled .
 Positioning by quality and price- An organization adopts the competitive price
under which the products are served at the reasonable price. By giving best quality of
products in low price it will help the customers to be attracted towards the product
 Positioning by use- Company focuses on target customer who buy the products as
per this provide the products with proper packaging.
 Positioning by users- Company focuses on the target customer accordingly produces
the products. An organization target 35 to 50 ages of people who are conscious for the
health.
 Positioning by product category- McDonald's provide various products like beef
burger, salad, soft drink, ice cream which helps the consumer to be attracted towards
the products and buy it.
3.1 Explain how products are developed to sustain competitive advantage.
As the quality is the measure to acquire the customers and to retain customers, there are also
some factors that are very powerful weapon to gain competitive advantage. All the time the
customers count the price of the product or service and compare the quality of competitor’s
product with the existing one (Sherlekar & Prasad, 2010). So hence here price is a
competitive factor. In the case of Competitive advantage Michel Porter has told about the
three major concern and all these concerns are adopted by McDonald’s to gain competitive
advantage.
12

Figure 1.7: Competitive Advantage Model of McDonald’s (Self designed)
So at the very first level of competitive advantage gaining McDonald’s applies the theory of
low cost leadership. The concept tells that the production and distribution of product and
services at a low cost then the customers maintaining the quality. As the customers receive
quality product at low price, customers become more loyal to the company. Then it come
product & service differentiation. In McDonald’s the same product is differentiated based in
the selected criteria. Such in case of a pizza it is made in different size and different taste.
Then McDonald’s Focus on the narrow but profitable marked in the existing segments.
3.2 Explain how distribution is arranged to provide customer convenience
It is very important for a business to make sure it’s distribution clear through various
distribution channels. In the traditional business the distribution may be done through
manufacturer to wholesaler to retailer to customer, Manufacturer to retailer to customer and
manufacturer to customer. But in the case of McDonald’s this distribution channels will not
work properly because the food items can’t store due to perishable. So in this case here the
only one channel will work is manufacturer to customer.
Figure 1.8: Distribution strategy of McDonald’s (Self designed)
As McDonald’s is the widest food chain shop in the world, in many countries there are
thousands of franchise are there. All the franchise set the restaurant in different position
based on the advantage (Winer, 2000). So hence all the locations of restaurants of
13

McDonald’s are production plant for McDonald’s. Here in the all restaurants the food items
are produced and the customers consume food directly from the restaurants. So here it is so
clear view about the distribution channel strategy of McDonald’s.
3.3 Explain how prices are set to reflect an organization’s objectives and market
conditions
Probably pricing strategy is the best strategy to acquire and retain customers as well as
gaining competitive advantages. So McDonald adopts various types of pricing strategy for
making revenue from the market specially, from customers. Location to location the price of
the same product varies in price due to situational factor. Such for example in India
McDonald’s offer a burger at 25 rupees where the same burger costs 1.5 dollar in UK.
Figure 1.9: Pricing Strategy of McDonald’s (Self designed)
Generally, at the very first level McDonald’s goes for value based pricing. The main theme of
value based pricing is that the company believes that customer will pay higher price for the
product if they get higher value (Kotler & Armstrong, 2006). Then the company adopts
competition based theory of pricing, it says that company will try to keep price lower than the
competitors around not decreasing the quality. And at last McDonald’s go for cost based
theory. It focuses on the price setting of food items according to the production value.
Revenue is adder with the production price.
Penetration pricing- Company sets price of the products at the initial level at the low cost
which assist the customers to buy new product at the low price after there products as
popular in the market under which company increase the price of products.
Economy pricing- An organization charges the price of the products at the low rate of
products. Company focuses on any type of customer like middle, lower and upper level.
Physiological pricing- Organization provide combo offer and charge the price like 299
which attracts buyers towards the price and influence them to purchase the products.
3.4 Illustrate how promotional activity is integrated to achieve marketing objectives
14

A wide range of promotional activities are drawn every year in McDonald’s. As the largest
food chain for maintaining the minimum standard company needs to invest a lot in
promotional field (Pride, 2011). Any company if wishes to acquire and retain customers so
there is no alternative for promotional activity. The promotional activities of McDonald’s
consist of:
Advertising: McDonalds publish their advertisement in television channels of different
countries and online or printed media. Near 700 million dollars is counted for advertising.
Public relation: It means building positive relationship with the customers, suppliers and
external parties. Art of good relation not only make company image but also making profit
and loyal customers and suppliers.
Sales promotions: For upgrading sales time to time McDonald’s take various initiatives such
like as bundle offer, discount, coupons, raffle draw etc.
Personal selling: Sometimes McDonald’s sales their product one to one.
Phone & mail promotion: McDonald’s collect the phone number and mail address of the
general people from different sources and make promotion through mail and phone calls
directly.
3.5 Analyze the additional elements of the extended marketing mix
The elements of general marketing mix are included below. As marketing mix is a strategy of
marketing in a universal manner so it is implemented in the field of McDonald’s marketing
strategy.
15

Figure 1.10: Marketing Mix (HubPages,2014)
Product: A tangible means or any intangible service that is manufactured mass in a great
extent of volume for making profit.
Price: The sum amount of money that should be paid for the consumption of specific product
or service.
Promotion: Represents all of the communications that a marketer may use in the
marketplace.
Place: Place refers the place where the main business operation is operated with a view of
making money (Grönroos, 2004).
The elements of extended marketing mix are concluded below:
People: All persons related to consumption are important. For example, workers,
management, consumers etc. It also marks the market segmentation, mainly demographic
segmentation.
Process: Step flow, mechanism and flow of activities by which services are provided. The
'Procedure' how to the product will reach the end user.
16

Physical Evidence: The marketing strategy must include effectively communicating their
satisfaction to potential customers.
4.1 Plan marketing mixes for two different segments in consumer markets
Marketing mix elements are so important for every aspects of business. This will rely on the
type of service and product concerned (Sheehan, 2011). Here the main objective of marketing
mix is to make a diversification of every aspect of the marketers, to understand the general
criteria of business market.
In consumer market good and service moves very fast, which requires a combined form of
marketing mix in nature? This can be classified in two segments:
International markets: Benefits and risks, globalization, EU, market attractiveness,
standardization versus adaptation, international marketing mix strategies.
Organizational markets: differences from consumer markets, adding value through service;
industrial, non-profit making, government, re-seller.
McDonald's can use various marketing mix for demographic and psychographic
segments such as follow:
Marketing mix for demographic segment – Company focuses on target customer like 35 to
50 age customer.
 Product- McDonald's can provide salads healthy food to their target customers who
are health conscious.
 Price- Organization decides the price of salad like 80 to 130 Rs. It prices set by the
company which target customwers are able to purchase the products.
 Place- McDonald’s provide the products at the store and various outlets are opened
by the company which helps the customers to easily purchase the item.
 Promotion- An organization promotes the goods and service through brochures and
social media.
Marketing mix for Psychographic segmentation- In this segment, company focuses on
interest of the consumer in products and services.
 Product- Company identifies the consumer needs and preference and according to
that purchases the product. Manager conducts the survey about consumer interest and
preferences.
 Price- By using competitive pricing, organization provides goods and services as per
consumer interest.
17

 Place- McDonald's offers products at the outlets and franchises under which
consumer easily approach at the outlets and purchase the products.
 Promotion- Through the brochures and magazine, company promotes the products
and services in the market.
4.2 Illustrate differences in marketing products and services to businesses rather than
consumers
In the new terms of business arena, the concept of business to business market has emerged
with a great role in the context of modern business. To find out the perfect match to business
to business market marketers make research in the context of business arena (Pride, 2011).
B2B market provides a marketer with the great ability to enter into the new business arena for
fulfilment of more business selling and proper gaining of money.
The key factors for B2B market in which it differs from consumer market:
1. B2B market’s decision makings are more complex than consumer market.
2. B2B market holds a very small number of customers than consumer market.
3. In B2B market the personal relationship is so complex
4. B2B market process analysis is so complex than consumer market.
Business to Business (B2B) – McDonald's follows business to business model under which it
involves group of people in the decision making process. An organization focuses on their
product and services rather than customer as those entire corporations target the customer and
consumer will purchase the product, therefore it creates loyalty of products and marketing
activities.
Businesses to consumer (B2C)- In this model, company sell the product directly to the
consumer. In this, consumer attract by the using social media, magazine etc.
18

Show how and why international marketing differs from domestic marketing.
Marketing arena is different in the context of domestic field rather than international one.
Where else the domestic marketing offers the marketing policy within any nation or
geographic area and international marketing covers the marketing policy for the multiple
nation or countries (Winer, 2000).
Figure 1.11: Domestic Marketing Vs International Marketing (Khan, 2011).
Domestic market has a small area to cover where an international market covers a large area
sometimes some international organization covers almost every country of the world.
McDonald operates its operation as an international organization. At the early stage of
originating of McDonald at USA, it covered only the market of USA where after turning the
organization into international organization it markets became more diversified than earlier.
At the international arena McDonald’s faces more complex needs and behaviour of customers
where they faced a similar behaviour of customers.
19

Conclusion
Marketing strategy is an important issue to capture new market and to sustain in existing
market. Here in this assignment it has been described several marketing process and benefits
of marketing orientation of McDonald’s. Several micro and macro environmental factors
have been discussed here also. Here also it has been made a targeting strategy for a product of
McDonald’s. Moreover, it has been discussed the way of developing products to sustain
competitive advantage in market. In addition, a marketing mix planning has been illustrated
here.
20

References
1. Alserhan, B. (2011). The principles of Islamic marketing. Farnham: Gower.
2. Bearden, W., Ingram, T. and LaForge, R. (2002). Marketing. Chicago: Irwin.
3. Brassington, F. and Pettitt, S. (2003). Principles of marketing. Harlow, England:
FT/Prentice Hall.
4. Crossland, K. (2015). How Social Media Marketing Fits Into the Marketing Mix.
[online] The Savvy Copywriter. Available at: http://kimberlycrossland.com/day-8-8-
ways-social-media-fits-marketing-mix/ [Accessed 14 Apr. 2016].
5. Flat World Knowledge. (2013). Principles of Marketing 1.0 | Flat World Education. [online]
Available at:<http://catalog.flatworldknowledge.com/bookhub/2030?e=fwk-133234-
ch05_s03> [Accessed on:14 April, 2016].
6. Grönroos, C. (2004). The relationship marketing process: communication, interaction,
dialogue, value. Journal of business & industrial marketing, 19(2), pp.99-113.
7. Hennig-Thurau, T., Gwinner, K.P. and Gremler, D.D. (2002). Understanding relationship
marketing outcomes an integration of relational benefits and relationship quality. Journal of
service research, 4(3), pp.230-247.
8. HubPages. (2014). Create professional business plan by yourself. Chapter 3: analyzing micro
& macro environments. [online] Available at: http://hubpages.com/business/Create-
professional-business-plan-by-yourself-Chapter-3-analyzing-micro-macro-environments
[Accessed 14 Apr. 2016].
9. Khan, Q. (2011). Market Segmentation. [online] The Home of Knowledge. Available at:
<http://www.thehomeofknowledge.com/the-importance-of-market-segmentation/> [Accessed
on:14 April, 2016].
10. Kotler, P. and Armstrong, G. (2006). Principles of marketing. Upper Saddle River, N.J.:
Pearson Prentice Hall.
11. Pride, W. (2011). Marketing principles. South Melbourne, Vic.: Cengage Learning.
12. Sheehan, B. (2011). Marketing management. Lausanne, Switzerland: AVA Pub.
13. Sherlekar, S., Prasad, K. and Victor, S. (2010). Principles of marketing. Mumbai [India]:
Himalaya Pub. House.
21

14. Srivastava, R. K., Shervani, T. A. and Fahey, L. (1999). Marketing, business processes, and
shareholder value: an organizationally embedded view of marketing activities and the
discipline of marketing. The Journal of Marketing, 168-179.
15. Swieringa, R. J. and Waterhouse, J. H. (1982). Organizational views of transfer pricing.
Accounting, Organizations and Society, 7(2), 149-165.
16. Wedel, M. (2000). Market segmentation: Conceptual and methodological foundations.
Springer.
17. Winer, R. (2000). Marketing management. Upper Saddle River, N.J.: Prentice Hall.
18. Yoo, B., Donthu, N. and Lee, S. (2000). An examination of selected marketing mix elements
and brand equity. Journal of the Academy of Marketing Science, 28(2), 195-211.
22