Table of Contents INTRODUCTION...........................................................................................................................3 ACTIVITY-1...................................................................................................................................3 Concept of marketing with current and future trends.................................................................3 Overview of marketing processes...............................................................................................4 Roles and responsibilities of marketing function in the context of McDonald's........................5 Analysis of how marketing interrelates and influences other functional departments...............6 Value and importance of marketing role.....................................................................................6 Marketing-mix to achieve company objectives..........................................................................6 Conclusions based on critically analysing the interrelation between functional departments....8 ACTIVITY-2...................................................................................................................................8 Covered in PPT...........................................................................................................................8 CONCLUSION................................................................................................................................8 REFERENCES................................................................................................................................9
INTRODUCTION Marketing consists of all the activities of an organisation which helps it in promoting its product or services in the market. For the success of any product or service in the market, it is important that it is communicated in the correct manner, to the right people, at the right place and on right time. In a hospitality industry marketing plays an important role in building the image of organisations, attracting new customers and maintaining loyalty of old customers(Baker, 2016). Hospitality relates to creating experiences for customers and building relationships with them so that customer satisfaction can be ensured by providing them the services they demand from the hospitality industry. Through this report principles of marketing, elements of marketing-mix, marketing plan etc. will be studied in reference to McDonald's which are used by it for influencing the customers to purchase their products. Different theories and frameworks will also be applied to understand the concept of marketing better. ACTIVITY-1 Concept of marketing with current and future trends Marketingincludes all the activities of an organisation through which its products and services can be promoted so that their sale can be increased and customer satisfaction can be achieved by creating value for the customers. Marketing conceptis related to analysing the needs and wants of customers so that such products or services can be produced which can help in achieving customer satisfaction with increase in sales and profit maximization(Faßmann and Moss, 2016). This also gives companies a competitive advantage in the market. The five marketing concepts are discussed below :Production concept: It states that customers usually prefer products that are easily available and affordable.Productconcept:Customerschooseproductsofgoodquality,performanceand innovative features.Selling concept: Customers buy products or services if they are heavily promoted and advertised.Marketing concept: Customers choose products of a company that satisfies their needs and wants better than their competitors.
Social marketing concept: Customers choose products which gives better value and ensures well-being to them and society as a whole. Illustration1:THEFIVEMARKETING CONCEPTS EXPLAINED. 2017 Source : THE FIVE MARKETING CONCEPTS EXPLAINED, 2017 Current trends in marketing:These are the trends that are currently followed by companies to communicate about their products and services to customers and capture markets. Some of these are :Social media marketing: The process of gaining website traffic or attention of customers through social media websites like Facebook, Twitter, LinkedIn etc. Text message advertisements: It means sharing information about new updates, sales or offers via text messages to the customers(Glende and et. al., 2016). Future marketing trends: As the use of technology by people is increasing, people are becoming more receptive to marketing tactics. In future following marketing techniques could be in trend : Use of virtual reality and augmented reality in content marketing. Live videos about using products and services will gain more popularity. Overview of marketing processes Marketing processesare related to analysing the opportunitiesin themarketby discovering unfulfilled customer needs, selecting the target market, developing marketing-mix and management of marketing efforts(Harrington and et. al., 2017).
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Analysing opportunities in market: This can be done by analysing the needs and wants of customers that remain unfulfilled or untapped by the competitors by the way of market research. These opportunities should be beneficial in the long-run success. Target market selection: This can be done effectively by applying the STP technique by the companies which includes segmentation, targeting and positioning of the product or service in the market. Developing marketing-mix: It is composed of certain variables which are composed of 7P's which must be efficiently focused by the companies so that a desired response can be generated from the targeted audience. Management of marketing efforts: This is the action phase where the marketing efforts are appropriately managed so that target customers can be provided with right items, at the right place and at the right time. Roles and responsibilities of marketing function in the context of McDonald's The marketing department of McDonald's helps it in achieving its business objectives by increasingsalesandpromotingitsbrandimageamongstthecustomers.Therolesand responsibilities of this department helps the company in identifying the needs and wants of their target market so that the customers can be satisfied in a better way than its competitors some of which are discussed below :Market research: This helps the company to identify its market where it can offer its products to the customers by knowing about their needs and wants which helps it in achieving competitive advantage(Kerin and Hartley, 2015). It helps McDonald's to provide best quality of food to the customers at affordable prices by offering them a uniform menu.Productdevelopment:Ithelpsinimprovingthealreadyexistingproductsand introducing new products based on the changing demands of customers. McDonald's can introduce new and innovative foods in its menu by this function. Advertising and Promotional campaigning: It helps in promoting the products and creating awareness so that prospects can be converted into customers. McDonald's uses a tag-line 'I'm lovin' it!' so as to advertise and promote its products.
Analysis of how marketing interrelates and influences other functional departments Marketingdepartmentworkscloselywithallthefunctionaldepartmentsofthe organisation so as to integrate, coordinate and co-relate with the activities performed in those departments. This helps the organisation in achieving common goals and objectives by working together and simultaneously influencing and supporting the work of each other(Kotler and et. al., 2017). For example Marketing department helps the production department by informing it about the needs and wants of customers so that products and services can be produced as per the quality, quantity and customer specifications required by the customers so that customer satisfaction can be ensured. Value and importance of marketing role Marketing plays an important role in creating awareness distributing goods and services to satisfy the customer needs. Through market research process it can also help in analysing the market needs so that a customer advantage can be gained by being the first company to introduce any new product and service in the market. In hospitality industry it helps in giving best experiences to the customers by creating good relations with them so that their value for money increases. Marketing-mix to achieve company objectives Marketing mixis a combined set of activities which are under control of the company for motive of encouraging and attracting their customer's towards buying its products and services(Lane, 2016). This strategy is used by the company to promote their brands and products in the target marketplace. In this report the marketing mix of McDonald's compared with Burger King which can be described below. BasisMcDonald'sBurger King ProductThe company sells wide range of fast foodproductswhichincludes vegetarian,non-vegetarian, beverages as well as frozen deserts and supply a variety of choices. Now, the company wants to introduce oil free French-fries. Ithasproductlineofburgers, chicken and fish, sides, salads and veggies, sweet, deserts as well as beverages.Inadditioncompany bundles its products as value meals and kids nutrition.
PriceMcDonald'sadoptscostleadership strategy and offer foods and drinks forcompetitiveprices.Alsohave heavilymarketed“happyprice menu.” Burger King follows market-oriented pricing strategy and bundles pricing strategy as well. It has comparable priceswhicheffectsthrough demands and market behaviour. PlaceThere are total 36258 restaurants in total 119 countries. Almost available inbigcitiesespeciallyatprime locations such as shopping malls. It mainly on the physical presence of its restaurants but along with this Burger King use mobile apps and websites for delivery. PromotionMcDonald'susesnewspaper, television,internet,radio,cinema, magazinesaswellasothersocial media outlets to communicate with their customers and also offers lucky draw and scratch card facilities. BurgerKingmainlyfocusedon advertisingstrategylike newspapers, magazines, hoardings as wellasprovidediscountson applicationbasedordersand distributing discount coupons. PeopleApprox97000employeesare working in restaurant. It has standard uniform for employees to facilitates equalityservicetreatments. Philosophyrelatedtoquality,fast friendly services, value as well as cleanliness. It focuses on their customers as well as employees and provides quality food, fast food availability and more uniquediningexperiencemade Burger King more customer centric. ProcessFoodproducing,methodsof packaging and distribution as well as inventedmosteffectivecooking equipments. It is the main part of operation which is internally designed by experts to operate globally. It made huge food chaintoworkinmorereliable environment. Physical evidenceThe quality, speed, transparency and cleanlinessetc.consideredasa physical evidence of McDonald that Reinventing in its image through key changesindecorumwithmodern featuresarchitecture,buildingetc.
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helps in maintaining buildings and appearances. considered as a physical evidence of Burger King. Different tactics that are used by an organization To achieve the desired goals and objectives of an organization management plays an important role. Company can use several innovative and creative tactics to become the market leader and ultimate customers choice(Langston and Loreto, , 2017). McDonald's can use market analysisasatacticswhichhelpsinachievingcompetitiveadvantagesandsustainable improvements in their business positions. Market is dynamic in nature so a company needs to analyse the market factors on a continuous basis which helps in identifying the market situations and customer experience. Also, a company can use benchmarking strategy which defines as a research strategy for evaluating the current capabilities and find opportunities in the market to compete with their competitors. Conclusions based on critically analysing the interrelation between functional departments Interrelationsbetweendifferentfunctionaldepartmentsplaysanimportantrolein successfully achieving the common goals and objectives of a company. It helps in enhancing the functions of all the departments and improving the efficiency so that good quality products and services can be produced for customer satisfaction and being competitive in the market. In McDonald's all the departments work together so that standard food is formed which is high on quality which helps in increasing its sales and capturing a large market base. ACTIVITY-2 Covered in PPT CONCLUSION From the above report it can be concluded that marketing plays an important role in the hospitality industry as it helps in promoting and advertising the products and services so that customers can be attracted and sales can be increased thereby increasing the profitability of the business.Marketing-mixandstrategieshelpstheorganisationsrelatingtohospitalityin successfully launching new products in the market by delivering right products, to right people,
at right place and on right time so as to ensure customer satisfaction. Hospitality mainly deals at making customer relations which can be done through effective marketing strategies. REFERENCES Books and journals Baker, M.J., 2016. What is marketing?. InThe Marketing Book(pp. 25-42). Routledge. Faßmann, M. and Moss, C., 2016. Instagram als Marketing-Kanal. InInstagram als Marketing- Kanal(pp. 13-21). Springer VS, Wiesbaden. Glende, S and et. al., 2016. Increasing the acceptance of assistive robots for older people through marketingstrategiesbasedonstakeholderneeds.InternationalJournalofSocial Robotics .8(3). pp.355-369. Harrington,R.J. andet.al.,2017. QSR brand value:Marketing mix dimensionsamong McDonald’s, KFC, Burger King, Subway and Starbucks.International Journal of Contemporary Hospitality Management .29(1). pp.551-570. Kerin, R. and Hartley, S., 2015.Marketing: the core. McGraw-Hill. Kotler, P. and et. al., 2017. Marketing for hospitality and tourism. Lane, P., 2016. Human resources marketing and recruiting: essentials of employer branding. Handbook of Human Resources Management, pp.23-52. Langston, R. and Loreto, D., 2017. Seamless integration of predictive analytics and CRM within an undergraduate admissions recruitment and marketing plan.Strategic Enrollment Management Quarterly .4(4). pp.161-172. Mariani, M.M., Di Felice, M. and Mura, M., 2016. Facebook as a destination marketing tool: EvidencefromItalianregionalDestinationManagementOrganizations.Tourism Management .54.pp.321-343. Pettigrew, S., 2016. Pleasure: an under-utilised ‘P’in social marketing for healthy eating. Appetite .104.pp.60-69. Symons, M and et. al., 2019.Multichannel digital marketing platform. U.S. Patent Application 10/332,042. Weinstein, A. and Pohlman, R.A., 2015. Customer value: a new paradigm for marketing management. InProceedings of the 1997 Academy of Marketing Science (AMS) Annual Conference(pp. 132-133). Springer, Cham. Online THEFIVEMARKETINGCONCEPTSEXPLAINED.2017.[Online]Available through :<https://oxidian.ch/en/the-five-marketing-concepts-explained/>