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MARKETING PINCIIPLES INTRODUCTION 3 TASK 13 1.1 Explaining various elements of marketing process 3 TASK 13 1.2 Evaluation of marketing orientation 4 TASK 25 2.1 Environmental Factors Influencing Marke

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MARKETING PRINCIPLES INTRODUCTION 3 TASK 13 1.1 Explaining various elements of marketing process 3 1.2 Evaluation of benefits and costs of marketing orientation 4 TASK 25 2.1 Micro and macro environmental factors that influence marketing decisions in McDonald's5 2.2 Proposing a segmentation criteria for McDonald's 7 2.3 Targeting strategy for McDonald's products 8 2.4 Demonstrating how buying behavior affects marketing activities 8 2.5 Proposing a new positioning strategy for McDonald's burger9 TASK 39 3.1 Explaining how

MARKETING PINCIIPLES INTRODUCTION 3 TASK 13 1.1 Explaining various elements of marketing process 3 TASK 13 1.2 Evaluation of marketing orientation 4 TASK 25 2.1 Environmental Factors Influencing Marke

   Added on 2020-01-15

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MARKETINGPRINCIPLES
MARKETING PINCIIPLES INTRODUCTION 3 TASK 13 1.1 Explaining various elements of marketing process 3 TASK 13 1.2 Evaluation of marketing orientation 4 TASK 25 2.1 Environmental Factors Influencing Marke_1
TABLE OF CONTENTSINTRODUCTION ..........................................................................................................................3TASK 1 ...........................................................................................................................................31.1 Explaining various elements of marketing process ..............................................................31.2 Evaluation of benefits and costs of marketing orientation ....................................................4TASK 2 ...........................................................................................................................................52.1 Micro and macro environmental factors that influence marketing decisions in McDonald's ......................................................................................................................................................52.2 Proposing a segmentation criteria for McDonald's ..............................................................72.3 Targeting strategy for McDonald's products ........................................................................82.4 Demonstrating how buying behavior affects marketing activities .......................................82.5 Proposing a new positioning strategy for McDonald's burger ..............................................9TASK 3 ...........................................................................................................................................93.1 Explaining how McDonald's products are developed ...........................................................93.2 Explanation of distribution strategies used by McDonald's ................................................103.3 Explanation of pricing strategies used by McDonald's .......................................................103.4 Integrating promotional activity to achieve marketing objectives ......................................103.5 Analysing the additional elements of extended marketing mix ..........................................11TASK 4..........................................................................................................................................114.1 Marketing mixes for two segments of consumer markets...................................................114.2 B2B marketing v/s B2C marketing......................................................................................124.3 Difference between international marketing and domestic marketing................................13CONCLUSION ............................................................................................................................14REFERENCES .............................................................................................................................152
MARKETING PINCIIPLES INTRODUCTION 3 TASK 13 1.1 Explaining various elements of marketing process 3 TASK 13 1.2 Evaluation of marketing orientation 4 TASK 25 2.1 Environmental Factors Influencing Marke_2
INTRODUCTION Marketing principles comprise of the various concepts related to marketing. It includesvarious processes that an organization employs for determining the needs and wants of thecustomers and fulfilling them (Jobber and Ellis-Chadwick, 2012). These cover important aspectssuch as segmentation, targeting, positioning and marketing orientation which form the basis ofthe growth and success of an organization. Apart from that, 4 Ps of marketing are also includedin the marketing principles. These include price, promotion, place and product (Lees-Marshment,2009). The present report is based on a case study of McDonald's. It is the largest chain of fastfood restaurants which serves more than 100 countries. McDonald's operates at more than 36,000 locations all over the world (Our company, 2016). In the report, the concept and process ofmarketing has been understood. An attempt has been made to apply the concepts ofsegmentation, targeting and positioning. The report discusses individual elements of theextended marketing mix for McDonald's. Lastly, marketing mix has been used in differentcontexts. TASK 1 1.1 Explaining various elements of marketing process Referring to the case study of McDonald's, various elements of marketing process can bexplained as follows:Situation analysisThe first element is situation analysis in which a thorough evaluation is done of thesituation in which McDonald's finds itself. This is important for identifying the opportunitieswith the help of which customer needs can be fulfilled (Dann, 2008). In the situation analysis,external environment of McDonald's is evaluated. This comprises of macro and microenvironmental factors that affect the activities of the fast food chain. Situation analysis alsoincludes analyzing the past, present and future aspects. Through this element of marketingprocess, McDonald's is able to identify the gap between what customers want and what isactually being offered to them. Marketing strategy3
MARKETING PINCIIPLES INTRODUCTION 3 TASK 13 1.1 Explaining various elements of marketing process 3 TASK 13 1.2 Evaluation of marketing orientation 4 TASK 25 2.1 Environmental Factors Influencing Marke_3
This is the second element of marketing process. The marketing strategy of McDonald'scomprises of strategic plan which is developed for fulfilling the customer's needs. The marketingstrategy involves aspects such as segmentation, targeting, positioning and value proposition(French, 2010). For all these aspects, market research is carried out. Marketing mix decisionsThis is the third element of marketing process. McDonald's takes detailed tacticaldecisions for various elements of the marketing mix such as product, price, place and promotion.While making decisions related to the product, McDonald's remembers that the customers have achoice. Hence, it emphasizes on its menu and introduces new products. Similarly, while makingprice related decisions, the chosen organization takes into account customer's perception ofvalue. In the promotions aspect, all types of marketing communications are covered (Deshpandeand Rundle-Thiele, 2011). Lastly, in this element, McDonald's makes decisions about place.Implementation and controlThis is the last element of marketing process in which implementation of the marketingplan and the product is done (Parker and et.al., 2011). Along with implementation, this elementalso requires McDonald's to carry out continual monitoring.1.2 Evaluation of benefits and costs of marketing orientation The benefit and costs of marketing orientation to McDonald's can be evaluated.Marketing orientation is concerned with the provision of products to the customers which havebeen design according to their needs, requirements and desires. This provides several benefits toMcDonald's. However, it also brings various costs for the company. Benefits of marketing orientation. The following are the benefits of marketing orientation to McDonald's: Adaptability- This includes adopting those strategies which respond to the feedbackprovided by the customers. Marketing orientation provides the benefit of adaptability toMcDonald's. This helps the firm to adjust its products and services as per the desire ofthe customers (Henley, Raffin and Caemmerer, 2011). It is important to note that whencompanies focus on product, they are extensively involved in research and development.During this process, the firm is notable to focus on aspects related to consumers.However, marketing orientation is effective at enabling McDonald's to emphasize on4
MARKETING PINCIIPLES INTRODUCTION 3 TASK 13 1.1 Explaining various elements of marketing process 3 TASK 13 1.2 Evaluation of marketing orientation 4 TASK 25 2.1 Environmental Factors Influencing Marke_4

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