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Marketing Principles Assignment : McDonald's

   

Added on  2019-12-28

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Marketing Principles1

TABLE OF CONTENTSIntroduction......................................................................................................................................3Task 1...............................................................................................................................................41.1 Elements of McDonald's marketing process .........................................................................41.2 Benefits and cost of marketing orientation............................................................................4Task 2...............................................................................................................................................52.1 Macro and micro environmental factors affecting McDonald's decision making ................52.2 Segmentation criteria for McDonald's...................................................................................62.3 Targeting strategies for McDonald's new spicy burgers .......................................................72.4 Affects of buying behaviour on marketing activities of McDonald's ...................................72.5 New positioning strategy for McDonald's new spicy burger ................................................8Task 3 ..............................................................................................................................................83.1 Developments of products at McDonald's to gain sustainable competitive advantage ........83.2 McDonald's distribution strategy...........................................................................................93.3 McDonald's pricing strategy .................................................................................................93.4 Promotional activities used by McDonald's........................................................................10Task 4 ............................................................................................................................................104.1 Marketing mix for two different segments of consumer.....................................................104.2 Difference between marketing products to business and to customers...............................124.3 Difference between international marketing and domestic marketing ...............................12Conclusion.....................................................................................................................................13References......................................................................................................................................142

INTRODUCTIONNowadays, marketing of products and services has become an essential element for thesuccess of businesses. Further, it can also be stated that organizations nowadays use various toolsand techniques of marketing to create awareness about their products and services among peoplein the market. Marketing principles act as a guideline for businesses in carrying our variousmarketing activities (Dooley and Iverson, 2012). Along with this, these also help firms toincrease their sales and profitability. Fast food industry can be termed as one of the leading andgrowing industries of the world. The present study is based on McDonald's which is one of themajor players in this industry and giving tough competition to other players such as Burger Kingand Subway (McDonald's UK, 2016). This study shows various micro and macro environmentalfactors which affect decision making process of McDonald's. In addition to this, it also highlightshow behaviour of buyer affects marketing activities of the organization. TASK 11.1 Elements of McDonald's marketing process Marketing can be defined as a process in which businesses develop their brand imageamong people in the market by meeting their needs and demands (Henley, Raffi and Caemmerer,2011). In the modern era, marketing has become an important part of businesses such asMcDonald's. In order to gain advantage over other market players, organization is required toattract more and more people. This can be possible with the help of making them aware about thebenefits associated with the products or services. Elements of McDonald's marketing process areexplained below as: 3

Market Research- Market research is the first and most important element oforganization's marketing process (Fillis, 2010). It can be stated that before developingany strategy or product, research is carried out by McDonald's to identify the changingneed and demand of all its customers. Adequate research also supports in determining thefact that what tools and techniques of marketing will be more effective.Strategy- Once McDonald's gets clear about the need and demand of customers, then itstarts developing strategies which can help in attracting target customers and achievinghigher sales. At the time of developing strategy, organization defines its marketing goalsand objectives. Developing marketing mix- It is also an important stage in the entire process ofmarketing (French and Russell, 2015). In this stage, brand decides its four P's which areproduct, price, place and promotion. Furthermore, with the help of effective marketingmix, it is able to attract customers and increase its sales. Implementation of the plan- It is the last stage in marketing process of McDonald's inwhich all the developed action plans or strategies are implemented to achieve marketinggoals and objectives. 1.2 Benefits and cost of marketing orientationMarketing orientation is defined as the process in which business enterprise manufacturesand sales products which satisfy need and demand of customers in the best possible manner(Korotkov, Occhiocupo and Simkin, 2013). It can be also explained that while using such kind ofapproach, businesses such as McDonald's have several kinds of benefits. One of the majoradvantages is that it helps organization in getting high degree of customer satisfaction. Bydelivering products and services as per the need of customers, McDonald's is also able toenhance degree of its customer loyalty. Other benefit of marketing orientation is that it helpsMcDonald's to carry out more focused production. In order to survive in the marketplace andearn adequate profits, it is required by the organization to respond back quickly to the changingneed and demand of people in the market. Furthermore, with the help of market orientedapproach, McDonald's is also able to gain competitive advantage over other organizationspresent in the market. On the other side of this, it can also be explained that marketingorientation supports in upgrading the quality and features of products more quickly (Lingelbach,4

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