Social Media and Business Impact

This assignment requires students to analyze the impact of social media on various aspects of business, specifically focusing on holiday travel planning and business intelligence system implementations. Students will examine relevant research papers, including those on informal learning, knowledge co-creation, and crisis leadership in the context of social media. The analysis should draw upon theories and concepts related to business communication, essential research methods, and ethical decision-making in business.

Market Essentials

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Roles and responsibilities of marketing function...................................................................1
P2 Roles and responsibilities of marketing in organisational context........................................3
TASK 2............................................................................................................................................5
P3 Compare the ways in which different organisations apply the marketing mix to the
marketing planning process to achieve business objectives.......................................................5
TASK 3............................................................................................................................................8
P4 Produce and evaluate a basic marketing plan for an organisation ........................................8
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
Marketing known as very purest function of management task. It is success key behind a
successful business every organisation need strong marketing strategy through which any
organisation achieve their respective goals. They basically considers target segments and key
current trends. It is essential for all managers to grasp marketing planning so as according that,
they will achieve success by focusing on gratifying consumer needs (Guffey, 2012). External
world is changing rapidly everyday new technology launch and as according consumer demands
more products like that. Due to all these changes, it is necessary to update marketing strategies
and methods by understanding this changing environment. This study is going to exaggerate
about marketing function and their key roles and responsibility in internal and external
environment in context of organisation. This is also going to elaborate marketing mix and its
marketing process to achieve objectives of business. This study will organise plan for business
organization by analysing their strength and weakness. Other factors, by which organisation is
affecting and after all that, will decide strategies by considering all these factors. Therefore, that
will be clear vision of action plan and objectives which is beneficial for organisation.
TASK 1
P1 Roles and responsibilities of marketing function
Marketing department is responsible for increasing growth, profitability, exploding
market share and many more. Marketing backbone of whole organisation if it will be good then
there would be more convenient to accomplish organisational goals. This marketing process is
one who promote all the missions and goals of business. It serves as face of establishment by
balancing internal and external environment and set coordination and control on them. This
marketing department's job is to reach at catalogue, consumers, community, investors and
portray good image of organisation in front of public. Some of few roles and responsibilities of
marketing function are as follows :-
Strategy :- Strategies, targets, objects, action and plans basically made by top
management of the company. If company's strategies is good then it will be easy for achieving
goals. Initially, they observe internal and external environment and according to that they make
plans. Strategy refers to where they are and where they wants to take their company as along
with satisfy objectives. This design should be balanced and it plays important role in whole
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marketing process because if company has good design of action plan hen they don't have to
waste their time in thinking like what to do next. Strategy should be made in very flexible way,
like it will take few time to set up new technology and trends. So if strategy would be flexible
then it will be easy to mould it as according to demand of environment and customers.
Market Research :- Market research basically key responsibility of this department.
Research helps to organisation by identifying goals, opportunity, and understanding needs of
customers. Research is basically important for every organisation like from this, they will get to
know about various current technology, trends, and customers demand over these. Thus, what
they are actually looking for (Woiceshyn, 2011). It will also help them to understand better about
organisation's weaknesses and strengths and where they are stand in market. Every company
demands to be strong footing in market this will them them to increase in popularity and attract
number of customers. This research department conduct all date, graphs, reports, customer's
demands, expectations, behaviour, attitudes etc. This all will help company to make strategies by
considering focus on consumer.
Product development :- This is important to develop market on basis if changing trends
and improve existing one trade good. This will help them to stay in competition and satisfy
consumer needs. Marketing department analyse sales and trends and provide development in
products. They make improvement teams with consumer and through which they observe their
needs and preferences and help them in to make identifying new features , improvisation in new
products and whether they like that or not. If they found some of weaknesses in that product then
they keep that kind of flexibility to change or rectify that weakness.
Communications:- Marketing department also consist of activities in which involves
communication, interaction through which they promote products and advertise them. It is
important to build communication between company and consumer. So company will get to
know what consumer wants and in respect consumer get their product as according to them, its
interrelated thing. Its depends on budget of company, they make strategies of advertising product
by using various mediums like electronic, online, written, organise programs and events.
Through which company make aware to consumer about that product and in back they got
feedback too. It will all go in vein if product is good, has quality and affordable to everyone but
people barely know about this. So, this is important to make them aware by adopting roadside
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billboards, kiosk, posters, pamphlets, leaflets, company brochures, websites, product data sheet,
consumer newsletter and many more methods.
Sales support :- Coordination and corporation between marketing department and sales
can improve business growth, speed and performance. If sales will be increase, than it will
automatically improve business and motivate rest of employees for doing more good in future.
Marketing department provides increase in sales in terms with cope up with quality. Thus, all
increase in sales totally depends on advertising if they promote their product very well then this
will also make customers to buy that product. Company provide various discounts, offers,
coupons, gift pack schemes to attract customers. It is very challenging for company to set lower
reasonable price and on other side expecting profit. They have to set in that way, through which
they make product more reasonable and gain margin in that so that due to this resultant it will
increase in sales too they adopt many strategies and make them implement.
Events :- Marketing department is one who is responsible for organising events, such as
seminars, exhibition, sale conferences, consumer hospitality events, meeting exhibition. By
organising such event it will help to portray image in front of public and somewhere it will also
affect on sales of the product. By making presence in such social as well other events will also
help in accomplish further goals of social responsibilities apart from this. Social image will be
very beneficial for organisation so on they will support organisation and accept changes and
help in raising sales, so this will automatically lie with popularity. Company can also use internet
tool by organising campaigns, and other games winning contest to advertise company's brand. In
fact is good way because there is billions of people there an d company can reach by them all at
once.
P2 Roles and responsibilities of marketing in organisational context
Marketing department is interlinked to other department in some way. Marketing is the
basic function through which all departments decide their targets and objectives as a mutual
concern with consumers needs and demand. All department in company is goal oriented towards
provide satisfaction to consumer. Marketing is also like a bridge between he company and
external world and try to keep balance and update both of them in their different ways. Here are
some roles and responsibilities of marketing who influence other departments in some way are as
follows :-
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Human resources :- This department is the one who look over recruitments, selection,
staffing, training, and filling those vacant seats with the deserving candidates. Other
responsibilities of them such as motivate employees, manage employees performance, health and
safety, well being and obliviously holds knowledge regarding human resources. Its all upon the
human resource management to give right candidate, right work, at right place. So it will be
beneficial for employees as well organisation too, by utilising their abilities efficiently and
effectively. Marketing department would use HR department like as to help in recruit by
advertise job, job profile, job description etc. They may be assist them in interviews and
organising induction for that selected candidates etc. HR department run staff and at a time they
will need news letters and many more so in that marketing will help them.
Information Technology :- IT technology refers to information systems, computer hard
wares, computer software, and many more things just related to computer technology. In this
department marketing departments use these technology to branding, advertising, disseminate
information, images, videos and graphics related to organisation. IT is huge field but all
technology wants is only websites, extranets and intranets to marketers. Websites are often use
by promoting business and online business and provide convenience to customer to do online
shopping through this. It is important department because now technology is changing and this
internet stuff is in trending. To tune with trends organisation need to cope up with it and develop
products with this.
Consumer service provision :- Customer service functions is rotate around all program of
activities which facilitate to that process which by which making sure to satisfy customer needs.
This provision is controlled by central office of that organisation or that piece of land where
product is consumed by customer. Customer service process can be done physically of by using
online tools too. Here in this customer services this IT sectors involves too. They help them in
process of customer support with efficiently and effectively. It department like they keep store
all the data and control the activities. Marketing's one objective is that to satisfy consumer needs
and provide them satisfaction by providing hem their kind of product.
Research and development :- Research and development work as a Engine of the whole
organisation. Through this department they collect data, reports research and record consumer
behaviour, attitudes, needs. By research it will help in improve product and according to demand
made new one. This department also think or great, generate unique idea through which they
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attract new project. For example – In industry of smart phones, they are developing and update
day by day by changing environment. So on, They always needs research and generate new ideas
update their applications, software and hardware to develop their product and give competition
in market. It is genuine that customer always attract to new, unique so they demands to be
innovative product. Research and development is on going process and it helps in marketing, by
observing environment and along with that making planning or strategies.
Production/ operational department :- Marketing assist these departments in
organisation. They help in estimating and purpose to provide varieties of products and services.
Operational department is engage with many activities such as, producing, packaging,
warehousing, logistics and distribution of that products. Initially in production, they made and
manufacture and produce goods. Therefore, logistics is also consider production to warehousing
they stored all of that produced goods to warehouses where they can keep them safely and
distribute them later to retailers and other malls. It is important to distribute goods equally in that
way so, it will reach to all of that customers where they actually needs this by time. Marketers
needs to distribute products and need to sell them. They need to produce and sell product by time
so consumer should not wait for that although, Increase in sales depicts increase in profit.
TASK 2
P3 Compare the ways in which different organisations apply the marketing mix to the marketing
planning process to achieve business objectives
Marketing Mix is set of elements that influence costumers to buy product and services of
company. Marketing mix is allocation of time and efforts into different sectors and keeping right
product in right place at right time with right techniques of services and manufactures. An
organisation require these 7 P 's of marketing mix for success of specific product among public.
These 7P's of marketing mix Comprises Price, product, place, physical appearance, promotion,
people and process. Here components of marketing mix of McDonald has elaborated-
Place :- In place, product produced and service at same location. McDonald spend one
fifth of its profit in attracting consumers (Wilson, 2014). McDonald, in order to expand its reach
in various places and countries, utilize Franchisee system. McDonald have its restaurants in
more than 120 countries. McDonald have approx. 36,300 restaurants in worldwide, which aims
customers satisfaction and conveniences. McDonald vision to format its restaurants in Urban as
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well as rural areas. McDonald have its restaurants in all prime location such as malls, Complex,
toll-ways, airports and colleges. McDonald had spread in almost every big cities and in prime
locations. McDonald is situated in all residential areas and highways. McDonald also offers its
consume drive0in and drive away choice.
Price :- Price must be relevant to target audience and it must aim to influence a specific
market segment. McDonald offer services on competitive price. McDonald lead cost leadership
market plan. Food chain often attract customers for dine-in services. McDonald keep its price
most convenient and affordable to attract as much costumers as it can. It work on price strategy
and policies periodically to keep engage consumers. Foods and beverage that McDonald offers
are quite affordable which begin from lower prices to maximum. Low products such as Aloo
Tiki and Mc-puff are cheap and have most favourite food of consumers. Pricing in MacDonald is
essential for brand and its integrity. Also McDonald offers several; combo offers on lower price
such as Happy meal which offer French price, Aloo tiki and one beverage all in affordable
prices.
Process :- Process refers to product production procedure used by organisation in respect
to produce specific product. McDonald have a very transparent food production services in its
restaurant to consumer (Rowe, 2012). McDonald has its unique and new technique of product
servicing and packaging. McDonald use efficient production technology and cooking instrument
in all restaurant. McDonald provides its consumer facility to check cooking process and used
ingredients in her food. It has a very transparent cooking services which earn consumer loyalty
and hygiene trust and consumers for company. Training are being provided to licensees.
Promotion :- Promotion is methods are used to communicate and attract consumers in
order to get desired target audience include branding, sponsorship, advertising, packaging, and
promotional activities. McDonald targets to children specially. McDonald utilizes various
marketing tools to reach target consumer like advertising through T.V., radio, online media,
press, Newspapers, magazines poster cites and use other tools of promotions such
Merchandising, hoardings, Brochures, point of sales displays etc. McDonald focuses on children
majorly by offering them 'Happy Meal' offer with a Disney toy along with offer. Moreover, it
provide various offer to people on occasions an d events such as Christmas , Lucky draw,
Scratch Cards etc. McDonald volunteer and sponsor its organisation by taking membership in
World events , games. Recently McDonald has promote itself in FIFA by sponsoring and
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opening cafe within stadium. Such activities draw mass number people attraction and sights in
public places (Prewitt, 2011).
Product :- McDonald include several qualities of product including Veg Products such as
Mc-puff, Mc-Veggie and Non-Veg products and beverages like cold drinks, coffees and Ice
Creams too. McDonald provide a wide scope in fast food products like Big Mac, Hamburgers,
Filet-O-Fish, Chicken McNuggets, several chicken sandwiches, wraps and French fries,b
Quarter Pounder with cheese etc. Salad, Mc-flurry, deserts, sundaes, soft serve cons, oatmeal and
other variety also offered by McDonald. McDonald cares for costumers religion an d culture and
produce food with carefully and hygienically. McDonald also provide consumer combo
packages on food and beverages to please costumers. Company has announced to increase
nutritional value in products due to increase quality in product. McDonald usually refrain to be
detected as Unhealthy.
Physical appearances :- Physical apprentice attract consumer as well as public. It not
only impress external public of an organisation as well as represent the way business faction.
McDonald is very conscious about its physical appearances. McDonald stores can found small in
size but they will always build attractive and appealing with use of McDonald base colours,
yellow which help people to recognise company restaurant from distance. It has its restaurants in
every prime location and its appearance is worth telling its quality. Building are always
maintained and cleans and staff always consider hygiene as their priority. Visible cue are
situated in distance to aware public about store availability.
People :- McDonald follow the philosophy of high quality, hygiene, value and services.
People including all member of organisation who is directly and indirectly included in
organisational process. Staff in McDonald divided according their responsibility (Osterwalder,
2011). Employee usually award with star at end of month or season accordingly. Employee
usually are refereed larger roles. Employee gives priority to consumer satisfaction. Employee
provide clean and comfortable environment to prop le and their preferences remain family and
children. McDonald have standard uniforms for their employee working in organisation.
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TASK 3
P4 Produce and evaluate a basic marketing plan for an organisation
Executive :- This is a marketing plan for McDonald which demonstrate in market the
offering of company. This report regard present and future market environment, and investigate
marketing strategy which can work for McDonald (Mohammad Mosadeghrad, 2014). This report
will study marketing external and internal factors and prepare a market strategy which can be
used to build new strategy in market. This studies promotion mix, analysis of Strengths and
weakness and measure opportunity sand threats al;so go though various process such s budgeting
and marketing development of McDonald.
Company Overview :- McDonald is largest food chain in worldwide with more than
36,000 restaurants in approx 120 countries and 55 million consumers worldwide. This was
established on 15th may 1940 in United States by Richard and Maurice. Ray Kroc's joined
company and give it vision to make revolutionary change in world. McDonald was given a
concept of restaurant in San Bernardino, California. In 2012, McDonald was announced after
Wal-Mart, second largest private manager.
Vision :- McDonald vision be world's favourite, fastest service restaurant with high
quality food, services and hygiene.
Mission :- To become favourite place of costumers to eat, drink and to please each
costumers with its quality, services and cleanliness (Laudon, 2011).
Current Marketing Situation Analysis :- McDonald is also acknowledged with title of
Burger Business in industry has been market leader from decades. But to find and analyse new
data and states and evaluate costumers choice and trends, current market situation analysis is
important. It can be performed only by doing analysis of internal environment, External
environment and SWOT analysis of organisation. Internal and External analysis would be
completed by doing PESTAL analysis of McDonald.
 External analysis- To evaluate external factors of McDonald, PESTAL analysis has been
performed on the external factors of organisation. This comprises elements of external
environment such as political,legal, social, and technical factors which are explained
below-
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1. Political:- McDonald understand its political environment and its influence in market.
Major political factors which affects are below-
 Foreign trade agreement Increase
 Improvement in Pending Tax
 Public Health policies developed Improved out weigh threats.
2. Economical :- Economical varies according social and political changes which
influence McDonald Industry and its entire nature. The economical factors in UK that affect
McDonald-
 Stable and slow development of UK economy which has become a threat for McDonald
development.
 Slowdown of world economy which is directly affecting McDonald growth in worldwide.
 Reduce in revenues and margin across foreign areas and higher demand. Expensive standard menu options raised in market.
3. Social :– Change in culture and living technology in society and there interest can
influence McDonald. Social Cultures and culture of country is require to be taken care while
contributing a big part in society. Such social external factors are below-
 Wealth gap widening factor is effective for McDonald as McDonald is targetting
medium as well as low income people (Kock, 2014).
 McDonald have chance to raise its product quality to satisfy more diverse culture people. McDonald is criticised because of unhealthy fast food services they provide. Thus MC'd
has chance to develop its product quality.
4. Technical :- Technology of production and strategy implementation affect
organisation success widely. Thus, technical factors of McDonald influence its success. Those
factors can be-
 Increased research and market analysis to increase efficiency (Harison, 2012).
 Sales though Online services are increased. McDonald can also provide Online services
to costumers. To increase productivity, employ more automation in organisation.
5. Environmental :- Environmental factors affect company performance and its growth
by affecting costumers. These factors in McDonald are-
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 Environment change in worldwide that influence McDonald growth (Guffey, 2012).
 Utilizing of sustainable business strategies to influence market and environment. Increasing curiosity in business environmental programme.
6. Legal :- Recently, legal change has been made in UK Govt. which is imposed on
macro environment of McDonald. These factors are-
 higher cost and prices due to higher minimum wage policy.
 Regulation for Animal Welfare which is affecting McDonald food supply chain. Innutrition food regulation in Schools and Colleges (García-Peñalvo, 2013). SWOT analysis( Internal Factors) :-
Strengths :-
1. Global presence with great Impact on
competitors.
2. Leader in Domestic as well as foreign
market.
3. Competitive cost strategies.
4. Economic Growth and Expansion of
Business.
5. Advanced sales and revenues.
Weakness :-
1. Concentrated market and difficulty in
Expansion.
2. Slow production Invention process.
Opportunities :-
1.Better Outlet bond and value added service
access.
2.Internation contraction availability.
3.Penetrate marketing Strategy in other places.
4. Innovative goods and services.
Threats :-
1. Alternation in economy of world.
2.Fierce global development.
3. Variation in international currency.
Objectives :-
 increase restaurants in worldwide in places where it is not available.
 To growth in McDonald awareness among people who are not also its clients.
 Increment in annual growth up to 30% of national income in every half year. Increase suppliers and retailer within 6 month (Fotis, 2011).
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Strategy :- Strategies of McDonald majorly focuses in costumers satisfaction after using
products and services whereas expansion majorly focuses on company expansion in other
countries and places and earn profit in organisation, as organisational point of view.
Major Strategies :-
Market Penetration :- By inoculating some business market promotions, McDonald
design to increase market penetration to pull costumer attention which can be done by organising
campaigns for costumers.
Market Development :- Market development in McDonald is best example in food
industry. McDonald create innovative market development plans to attract consumes by
managers of McDonald such as opening sales offices and other approaches.
Programme Development :- McDonald focuses on best programme and service
development technique and to increase number of gratified consumers.
Segmentation, targeting and positioning (STP) :-
Segmentation :- Costumers are separated into different segment according different factors such
as demographical, geographical, psycho-graphical and behavioural.
Geographical :- McDonald segment its consumer according their geography.
Demographical :- Demographical segment refer to separation according income, or financial
condition. This segmentation technique is heavily used by McDonald.
Psycho graphic :- Costumers are divide according their lifestyle, attitudes, and beliefs. Like
McDonald target kids majorly (Andreev, 2012).
Targetting :-Targetting refers to techniques and audience which is aim by specific organisation.
In McDonald Kids, youngsters and families are main targets.
Positioning :-Positioning refers to place of product in individual perception. Like McPuff is kids
preference.
Tactics & Action :- Tools and tactics includes probable tactics and actions that help in
implementation of strategy such as IMC, supply chain process, financial position and branding
strategy (El-Mekawy, 2012).
Budget :- Budgets in marketing are planned to stimulate and promote marketing
strategies on a huge level (Cobanoglu, 2011). McDonald budgets are planned and allocated after
evaluation of existing strategies which are presented by marketing executive before finance
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team. Almost 50% of total profits in company is allotted as budget in order to allocate new
strategies in market for further plankings. Ratio of profit allocation in promotional and strategical
activities may vary according market and environment situation.
Control :- To control over the implemented strategy, control over implementation,
contingency plan and objectives is required (Barnaghi, 2012).
Conclusion :- According to market analysis, it can be concluded that its worth to have
own goals. McDonald can work on new products and services and expansion of market. It can
proceed on enlarging its business in industry.
CONCLUSION
As according to this assignment, It is concluded that Marketing plays very crucial role in
whole organisation. Marketing keep maintaining their roles and responsibility as along with help
to other departments, to work effectively and efficiently by achieving respective goals of
organisation. Company will be more successful if they follows all strengths and rectify all their
weaknesses . It will be more beneficial for organisation if they follow marketing plan as given
above fr McDonald, Therefore result will be positive. Research and development ,IT sector,
consumer services and advertisement are basic and important element of every successful
organisation. It is proven that marketing is backbone of the every organisation and if this
marketing strategy will be strong then whole organisation will be on tract automatically. It is
important to coordinate and control with marketing department for accomplishing targets.
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REFERENCES
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Online
Introduction to Marketing Essentials. 2017. [Online]. Available through:
<https://www.edx.org/course/introduction-marketing-essentials-iimbx-mk101x>.
[Accessed through on 29th 2017].
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