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Essentials of Marketing - McDonalds

   

Added on  2020-10-22

19 Pages4790 Words125 Views
Marketing Essentials

Table of ContentsINTRODUCTION...........................................................................................................................11.) Introduction of marketing, including current and future trends........................................12.) The Different Marketing Processes...................................................................................23.) Explain the role and responsibilities of a marketing manager..........................................24.) An explanation about marketing influences and interrelates with other functionaldepartments.............................................................................................................................35.) The value and importance of the marketing role..............................................................46.) Conclusions that emphasise the significance of having effective interrelationships betweendifferent functional departments.............................................................................................47 Compare of marketing mix to the marketing planning process to achieve businessobjectives................................................................................................................................48.) Produce and evaluate a basic marketing plan...................................................................9CONCLUSION..............................................................................................................................12REFERENCES................................................................................................................................1

INTRODUCTIONMarketing is activity to create, deliver, communicate, exchange, offer the valuableproducts to consumers according to their needs. Marketing identifies needs of consumers andguide the creation of services and products to fulfil demands of costumers (Babin and Zikmund.2015). This study is based on McDonald's. It is an American Fast Food Company. This studywill discuss the concept of marketing, including current and future trends. It will explain thedifferent marketing processes. It will evaluate the role and responsibility of marketing managers.This report will analyse marketing influences and interrelates with other functional departments.It will discuss the value and importance of the marketing role. It will explain the marketing mixto the marketing planning process to achieve business objectives.1.) Introduction of marketing, including current and future trends.Marketing is a business or action to sale, promote services and products that includesadvertising and market research. Its play a very vital role in organization because Marketingtrends are tendency of financial markets to get a way for particular direction over time.Marketing concept is used to implement strategies to satisfy customer’s needs, maximize profits,increase sales, and beat the competition. Its also helpful in develop product and evaluate thatchoice, fashion and trend of customers and improve product. There is different concept which iscrucial part of Marketing concept such as production concept, selling concept and societalconcept. Production concept: Production concept focuses on production efficiency, low costs andmass distribution for organisation. To manage effectiveness in production the focus of firm is onincorporating with current Social Messaging Application trends where there are so many peoplewho are active on Facebook messenger, WhatsApp, We Chat. Via messaging apps McDonaldcan survey or send message to customers to know their interest.Marketing function helps toprovide raw material at cheap rate and evaluate of market.Selling concept: This conceptfocuses on sales transaction than making relationship withcustomers. The current trends of selling marketing concept are focused on Artificial Intelligenceand Block chain Technologies with the help of AI McDonald analyses customers behaviour,utilizing data, search patterns, from blog posts and social media platform (Malhotra, 2015). Thistechnology allows organisation to track ads and ensure the real consumers than automated1

persons. But marketingfunction helps to sell function that it helps in evaluate target market andgive information to sales function.Marketing Concept: Societal concept helps organisation to achieve gaols depends ontargeted market and deliver the desire satisfaction to customers than competitors. In this firmincorporates with Data and Marketing Association where social media allow marketers to adheretheir customers or audiences to promote brand awareness or engagement. It is very lucrativemedium to stay up to date with changing customer’s interest or trends. However, futuremarketing trends are digital or electrical map which is based on operation of graphic elementsthat will help organisation to get electronic information about particular geographical areas forexpanding its business.. 2.) The Different Marketing Processes.Marketing process analyse the opportunities in market, development of marketing g mix,selection of the target markets and targeting the right audience. There is PR's SOSTAC marketplanning model which analyse the general marketing facets of marketing like situation,objectives, strategy, tactics, action, and control. Situation: This step help organisation to assess where business is right now and where ithas to be after certain time of period. McDonald’s aim at understanding changing needs ofcustomers to meet individual expectations.Objective: Objective creates the mission and goals for business. Due to this, organisationgets the right direction to move business. The objective of McDonalds is to provide best qualityfast food and beverages so that they could be able to attract a greater number of customers. Strategy: Making strategy helps to achieve the objectives and is based on various aspectsthat is product, price promotion, etc. It deals with goals of organisations and manages businessperformance. The objective could be achieved by setting out aims and planning for firm instipulated time period which will be helping them to manage their quality of food.Tactics: Tactics support overall strategy of McDonald. Business tactics are actionableplans that help to take business advantages. With applying marketing mix it would be easy forMcDonalds to identify what they could do for gaining larger market share. 7P’s will be helpingthem to look for their product, price, promotion and other tactics which could be used by them.Action: For McDonald’s it is very much important to ensure that all their tactics are beenexecuted in better and correct manner so that their goals could be achieved.2

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