Developing Marketing Strategies for Business Success

This assignment provides a comprehensive study on developing marketing strategies for business success. It emphasizes the need for companies to have a well-developed structure and make strategies according to the marketing mix, which includes product, price, place, promotion, people, processes, and physical evidence. The assignment also highlights the importance of environmental issues and marketers' challenges in today's market. It references various academic sources and provides a detailed conclusion based on the study.

Evaluating marketing
strategy and
recommendations

Table of Contents
INTRODUCTION ..........................................................................................................................1
Marketing mix concept ..............................................................................................................1
Marketing strategies and the issues marketers face today..........................................................4
Recommendations.......................................................................................................................7
Conclusion.......................................................................................................................................8
References........................................................................................................................................9

INTRODUCTION
Marketing strategy is the practice that a company develops to increase the sales so to
achieve organisational goals and objectives and gain competitive advantage. It includes all the
short-term and long-term goals of the company or the activities that are developed to analyse the
current situation of the company. It also develops strategies that are market oriented and which
helps in contributing to the goals of the organisation and achieving its marketing objectives. It
combines all the goals of marketing into one systematic plan, and to develop a good marketing
strategy complete market research is must and the focus is on product mix to achieve maximum
profit and business objectives. In the present report, the chosen organisation is McDonalds and
complete analysis of the market is carried out that includes 8 marketing mix of the company to
sustain a comprehensive growth in the business. The concept behind the product that is applied
in the product offered. To carry out the organisational activities effectively and sustain a
competitive growth in the business market.
Marketing mix concept
Marketing mix is the combination of all the factors that a company possess to attract
customers to purchase its products. It is the combination of various facts which determines the
practices of the company. McDonalds use these marketing mix to evaluate their long term goals
of the products that they are offering. To attract customers they develop creative ideas so to gain
competitive advantage. The product they offer and complete marketing mix is evaluated for it is
Double cheese burger. The marketing mix for the product is as follows:
 Product- It is the most important task that the company need to focus as it should fit the
task for the company to develop for the consumer. McDonalds develops double cheese
burger in keeping the wants of the people in mind. To attract customer they have
developed ideas such as to make product at the spot and filling the requirements of the
customers how they like it. They focus on the demand of the customer and according to
their wish what they are expecting to get. Product is the essential component of the
company to make value for the company in the market and gain competitive advantage. It
is for the consumers to satisfy their needs or wants. The marketing decision for the
product comprises its design, range and packaging and the services that the product
delivers in the market(Menon, Bharadwaj, and Edison, 2015). Products quality and
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presentation is the most essential part in delivering its value as it has to keep up with
customers demands and their expectations and preference for the product.
 Place- The product's availability is yet another important function for McDonalds to
make it available to its targeted customers. They need to focus on their locality and to
attract the customers in ways to make sure that they make it easily available to the
customers. This is the issue to carry out whether to open stores to sell the product and
make it available for online shop. The customer demand must be fulfilled and they must
be satisfied, so the place should be selected in preference to find it easiest to find. To
make sure that Double cheese burger is the new product that they are offering and to
make it available to the targeted consumers is the key reprehensibility of the company
and to achieve advantage in the market(Armstrong, Kotler, and Brennan, 2015).
 Price- The main affect or defeat that a product face is by its value. The product should
always be available to represent the value for money. This does not imply that it should
be priced much lower than its competitors. The customers are always happy to pay more
if they are satisfied by the quality and taste of the product. Pricing is the essential
components of the marketing mix, it focuses on the competitors in the market and make
pricing according to the targeted customers. Pricing must be comprised of all the
combination of taxes and service charges so it is easier for the consumer to make choices
and the pricing should be attractive. This makes consumer to get attracted towards the
product and if it provides good quality service they are also available to pay little more in
the preference of taste and quality.
 Promotion- Advertisement, Sales promotion, personal selling and relating to market
trends Social media are the most important elements for an organisation to communicate.
McDonald need to advertise its product in such a way that it looks attractive and is catchy
to all its customers. To convey their message to the correct audience in an effective
manner so they interest in hearing and get attracted to it to try it once. The promotional
events of the product are as important for the company because without proper and
effective marketing concepts the product cannot survive in the market. The promotion of
the product must be such a way that it appeal to the customer and attract their emotions
for it(Lusch, and Vargo, 2014). The market presentation is one of the most important
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aspect to make a presence in the target audience. It can be evaluated through comparing it
with other products and keeping its presence and promotion at the upper level.
 People- Companies rely on the people who manages to run them from sales staff
positions to managing director. It is essential for the company to chose right people to
carry out right job. Having right people in the company is essential because they also
possess to deliver the equal amount of offerings to the business as same the services and
products in the company offers. It is necessary for the company to have adequate human
resource to deliver the services and maintain the quality of the product. Good human
resource management is the key feature of any organisation as it focuses on delivering the
best results for the company. The product can be a success when the chosen people
together work for achieving the targeted objectives of the company. McDonalds
effectively utilises the abilities of the people working within it to contribute for the
product's success(Leonidou, Leonidou, and Zeriti, 2013).
 Processes- The delivery of the product or the service is mainly done with the customer
present so to make a good customer relationship it is essential that the company make
effective use of the transparency to deliver their services. The product quality is
maintained according to the customer needs and demands so to attract them. The process
is maintained to make better customer relationship because the service delivered or the
product delivered is for what the customer is paying for it. McDonald has kept its
products transparency to achieve sustainable growth in the business. They have made
ideas so to generate a healthy and friendly customer relations. Their product is made in
front of the customer as their kitchen area is kept transparent and there is complete
transparency in making process of the product. It is the responsibility of the people or the
management to deliver quality services in return of the payment what they are receiving
from their customers. The success of the product and the organisation is depended on the
product's transparency and providing services ethically and according to the preference of
the customers.
 Physical evidence- Physical evidence is the presentation of what the customer is paying
and it can be in any form. Almost all the services include physical element even if in
huge quantity of what they are receiving from the customer part. McDonals physical
evidence can be seen through their cleanliness team, and their quick action towards the
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cleanliness of the stores and provide hygienic and quality services to the customers. It can
also be seen through their speed services what they provide within 60 seconds from the
time of order. If they fail to do so they challenge giving the product free of cost. This
assures their physical evidence in the market and their ability to survive within the
business market. The quality of material they use for their product and their packaging
ideas for better presentation of the product. McDonald delivers product in the best
suitable way for attaining competitive advantage in the market.
 Distribution- The distribution of work among the members of the organisation for
completing the work to have a better competitive advantage in the market. This
distribution is among them to focus on the product to make it available in the market and
with good results. The company makes it possible only with the help of their fellow
members as they make it possible to attain the products benefit in the market.
Distribution of McDonalds to open new stores for the availability of their product to the
target customer. This process can also be achieved with their demand in the market and to
make it succeed in the business. Distribution process in the company is done according to
the ability of the individual to perform in the development of the product. It is done
according to the availability of different resources and the demand and requirement in the
market(Huang, and Sarigöllü, 2014).
Marketing strategies and the issues marketers face today
Marketing strategies of an organisation comprises of all the marketing goals with one
competitive plan. To develop a good marketing strategy it is required to have a good market
research and account on the right product mix so to achieve profit from the business and have a
better and sustainable business environment. The marketing strategy is the combination of a well
developed marketing plan that helps in accounting the long-term as well short-term
organisational goals. The business game plan that helps in reaching right people and attracting
them to purchase product by turning them into customers for the services the business provides.
Steps for effective marketing strategy:
In depth research- To develop a good marketing strategy there must be effective research for the
product to achieve competitive advantage in the market. This research includes studying about
their competitors and understanding the market and also the problems of the customers. Create
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plans to cure the problems and fulfil the demand of the customers and focus on developing their
product and services(Pavlou, and Stewart, 2015).
A strong headline- The headline attracts the customer for the product and develop a curiosity for
the product in customers. McDonald takes help of advertisement and social media to develop
headlines for the product and make it reach to many people at the same time.
Visual content- It is more engaging, memorable and is effective for the company as it helps them
to gather more information and develop strategy according to the information provided.
Tracking KPI- The key performance indicators are very useful for the company to successfully
track the return on investment in favour of their marketing strategies. The business need to have
basic information as well in depth information about the return for their investment(Singhapakdi,
Rallapalli, and Rao, 2015).
Content Promotion- Even the most amazing content is effective for the target audience engaging
with it. It takes more efforts for the company to make sure that the promotion is seen by the
targeted customers.
 Contemporary issues of environment: McDonald's need to operate its functions in a very
complex environment as it operates internationally it faces intense competition as the
diverse companies operating in the fast food business. The business functional
environment has many internal and external environment issues that makes problem for
organisational strategies. Some problems that are faced are:
Customers- They operate in several countries so it is the responsibility of the firm to attract many
customers for their product and make them available with the products easily. They need to focus
on the needs and demand of the customers and respond to their requirements.
Product and services- They provide a variety of products to their customers that are well
prepared, designed and hygienic and attractively laid out relating to the environment. They need
to focus on the taste and preference of different locality and prepare products according to the
conditions(Couldry, and Turow, 2014).
Competitors- They have several competitors in the market, their main issue is related to the
market competition and relying on the market condition. The competitors are always prepared
for challenges and make it also assured to have competitive advantage in the market. McDonald
need to focus on their competitors and develop strategies to compete in the market.
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Employees- They are relied on their employees in terms of preparing food and for the quality of
services for its customers. If the employees do not perform well in the organisation it brings a
sense of issue for the company to survive in the market. There are many competitors who are
willing to take advantage in the competitive market.
Technology- The main issue that the company face is change in technology and adopting new
technology to give competition in the market. The regular advancement of technology in the
business environment create problem as they need to adopt them to survive in the business.
Political factor- McDonald operates in several countries and they have different political systems
in their countries. Thus, they have to face many problems in relation to their legal rules and
regulations. Local political pressure always creates problem for the companies to effectively
operate in the country.
Economy- This is also an issue for the company as the economic condition of the country are not
good then they will have to face problems related to customers loyalty and their will be pressure
on the company to take steps that will not be in favour of the organisation.
 Issues of social media: Social media has a great impact in today's business environment
as they play a big role in making a company or destroying its image in the market. The
issues that are taking place in companies marketing strategies are relevant in developing
the profile of the company. The social media is nowadays at boom when compared to
advertisement of the product, they are responsible for making a brand image of the
company and helping the product to survive in the market by advertisement of it through
better technological effects. The marketing of the companies' product might get affected
due to social media as it has many effects on the customers to attract them for the
product.
 Society- The marketing process of any company depends on the society, if they do not
get attracted towards the product it is not so good for the company as they need to
develop their strategy to increase the interest of the customer for the product. Society has
all the right to make a product successful or make it unsuccessful in the business market.
The marketing technique of the business is completely depended on the customers
whether they like it or not(Leonidou, Leonidou, and Zeriti, 2013).
 Corporate Social Responsibility- CSR of any company is always the best approach for
the company to survive in the market. It develops the image of the company ion the
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market. They develop strategies to maintain a healthy relationship among the society and
the company. It affects the marketing strategy of the company if there is no good CSR
activities then the marketing strategy of the product also get affected as they will have to
develop new strategies to attain success in the business environment.
 Issues facing marketers today- In today's time a well developed marketing strategy is
essential for companies to survive in the market. The issues related to marketing are the
problems that a marketer need to take care of. These issues are related to the competitors
in the market, competition where daily new entrants are entering the market, frequent
change in the technology, unethical practices of different organisation, legal reforms in
different countries and their practices that needed to be understood. The marketers have
to understand the strategies of other competitors in the market and develop strategies
according to it. It is the responsibility of the business to attract new customers by their
marketing strategies and develop products according to their needs and demand in the
market(Hollensen, 2015). The marketers face problems for attracting new customers,
developing strategies if sudden change in the environmental factors.
Recommendations
It is recommended from the above study that to develop in the market, companies need to
consider all the marketing mix of the business and develop strategies according to their
marketing plans and requirement of the customer. To make a well product available in the
market the company need to have all the information of the market and the conditions of the
market to develop product. McDonald need to make pricing according to the customers in the
market or as targeted audience in the market. The pricing should be as per the requirement of the
product and as per the area and the group of people they need to target. It is also recommended
that the promotional activities of the product to develop in the market should be done with
reference of the people it is going to undertake. The people in the market must be focused and
the employees who are essential for the company to make it develop in the market. It is the
responsibility of the company to make strategies for its people also so to develop their abilities in
the business as well. It is also recommended maintaining the companies physical evidence in the
market is also essential to develop in the business and to gain competitive advantages.
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Conclusion
From the above study it is concluded that to develop in the business market and make an
identity they need to develop their strategies and have a complete analysis of the market. The
companies must have a well developed structure to maintain their strategies and to survive in the
business it is essential to make strategies according to the marketing mix. These marketing mix
that include product, price, place, promotion, prices, people, processes and physical evidence
must be given equal importance to survive in the business market. Other than these they also
need to focus on the environmental issues as well the issues that the marketers face today and
develop strategies to overcome those.
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References
Armstrong, G., Kotler, P., Harker, M. and Brennan, R., 2015. Marketing: an introduction.
Pearson Education.
Couldry, N. and Turow, J., 2014. Advertising, big data and the clearance of the public realm:
Marketers' new approaches to the content subsidy. International Journal of
Communication 8. pp.1710-1726.
Hollensen, S., 2015. Marketing management: A relationship approach. Pearson Education.
Huang, R. and Sarigöllü, E., 2014. How brand awareness relates to market outcome, brand
equity, and the marketing mix. In Fashion Branding and Consumer Behaviors (pp. 113-
132). Springer New York.
Leonidou, L. C., Leonidou, C. N., and Zeriti, A., 2013. Resources and capabilities as drivers of
hotel environmental marketing strategy: Implications for competitive advantage and
performance. Tourism Management. 35. pp.94-110.
Leonidou, L. C., Leonidou, C. N., and Zeriti, A., 2013. Resources and capabilities as drivers of
hotel environmental marketing strategy: Implications for competitive advantage and
performance. Tourism Management. 35. pp.94-110.
Lusch, R. F. and Vargo, S. L., 2014. The service-dominant logic of marketing: Dialog, debate,
and directions. Routledge.
Menon, A., Bharadwaj, S. G., and Edison, S. W., 2015. Effective Marketing Strategy-Making:
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(AMS) Annual Conference (pp. 224-224). Springer, Cham.
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towards integrating elements of the marketing mix. In New Meanings for Marketing in a
New Millennium (pp. 218-222). Springer, Cham.
Singhapakdi, A., Rallapalli, K. C. and Rao, C. P., 2015. Personal and Professional Values
Underlying Ethical Decisions: A Comparison of American and Thai Marketers.
In Proceedings of the 1995 Academy of Marketing Science (AMS) Annual Conference (pp.
269-269). Springer, Cham.
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