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Current and Future Trends in Marketing

   

Added on  2020-10-23

16 Pages4904 Words342 Views
Marketing
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MARKETINGESSENTIALS
Current and Future Trends in Marketing_1

Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................11. The concept of marketing, including current and future trends.............................................12. An overview of the different marketing processes................................................................23. The role and responsibilities of a marketing manager in the context of McDonald...............24. How marketing influences and interrelates with other functional departments ofMcDonald's.................................................................................................................................35. The value and importance of the marketing role in the context of the organisation..............36. Conclusions that emphasise the significance of having effective interrelationships betweendifferent functional departments.................................................................................................47. Marketing mix of McDonald to the marketing planning process..........................................48. Produce and evaluate a basic marketing plan for McDonald's..............................................7CONCLUSION .............................................................................................................................10REFERENCES..............................................................................................................................11
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INTRODUCTIONMarketing is a most crucial concept that assist in creating relationship with targetcustomers. Main objectives of this procedure is to analysing market demand for specific productfor delivering quality services to customers (Ahrens, 2011). It also includes advertising,delivering, selling and promoting products to target audience. On the basis of these practicesmarketing executive of an organisation can easily enhance buying behaviour of customers. Thisreport is based on McDonald which was founded in the year of 1940 by Richard and MauriceMcDonald. This is a largest fast food which having around 37000 outlets in approx. 120countries. This reports is going to explain the concept of marketing including current and futuretrends, overview of marketing process as well as the responsibility of marketing manager. It alsodetermines the interrelationship between different functional departments as well as specificmarketing process by conducting marketing mix approach. At last it determines marketing planof McDonald for introducing new services. MAIN BODY1. The concept of marketing, including current and future trendsIn an organisation, Marketing play a most important role in determine demand of newproducts, action plan for business services, competitive rivalries, required cost and so on.Through these practices, McDonald can promote their product and services in target market.Marketing include numerous trend as - Current trends – These activities determine impact of marketing practices on McDonald.Organisation having their own marketing strategy as - Online marketing – McDonald basically promote their products and services throughsocial media as well as on digital platform (Bellenger, Bernhardt and Goldstucker,2011). Main reason behind these practices are, it consume low cost as well as providesdesired benefits in limited time period. Mobile marketing – Now a days, each and every organisation promote their businessservices through mobile marketing. Through this, they can update new services tocustomers by calls and text messages. These are the quick tools of promoting productsdirectly to customers. 1
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Future trends – In future, marketing trend can be transform through nee and effective in whichdigitalisation will providing their effective contribution. Through this business can transformtheir services effectively for getting instant benefits and growth as well. The emerging ideas willbe more transforming for effective and requisite results.MARKETING CONCEPT Production Concept:- The idea of production through which product is available widelyat highly affordable price. This is one of the oldest marketing management concept that guideseller.Product Concept:- According to this concept organization should focuses on continuousproduction improvement by improving quality, technique, performance etc. because consumerprefer those products which is most quality, performance and innovative features.Selling Concept:- Customer buy only those products which a company aggressivelypromoting or selling because it attract the customers. The cases on which this approachapplicable are unsought goods like life insurance, vacuum cleaner, fire fighting equipments etc. Marketing Concept:-This concept focus on the needs and wants of target market andwant to deliver desire satisfaction better than competitors. In it full file customer values andsatisfaction is the main motive of company.Social Marketing Concept:- Its main focuses on need and wants of target markets bydelivering better products and services than competitors with the consideration of social wellbeing. McDonald must use Production Concept because through it they can attract huge groupof people on the basis of income, age, availability etc. like if the respective company makeproducts in different price rang starting from low to high, it will be affordable by every customergroup. McDonald currently implement high brand equity marketing concept in their businessoperations that enable them to maximise their market size and structure properly. High brandequity enables McDonald’s to gain a lot of competitive advantages.2. An overview of the different marketing processesMarketing is a wide but smooth concept that assist in building direct connection withservices users (Bird, 2012). For this, marketing division of McDonald needs to implement newideas for effectiveness of analytical practices. There are several marketing processes aredetermine below as - 2
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