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Marketing Principle TABLE OF CONTENTS

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Added on  2020-02-03

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Marketing Principle TABLE OF CONTENTS INTRODUCTION 4 TASK 14 1.14 1.25 2.15 McDonald 2.26 2.36 2.47 2.57 3.18 3.28 3.39 3.49 3.510 TASK 210 4.110 4.211 4.312 CONCLUSION 13 INTRODUCTION Marketing consists of different activities of a company that is associated with exchanging of goods and services to the varied customers and it also aware the customers regarding their range of offerings (Rad, Akbari and Motevaselian, 2014).

Marketing Principle TABLE OF CONTENTS

   Added on 2020-02-03

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TABLE OF CONTENTSINTRODUCTION......................................................................................................................4TASK 1......................................................................................................................................41.1..........................................................................................................................................41.2..........................................................................................................................................52.1..........................................................................................................................................52.2..........................................................................................................................................62.3..........................................................................................................................................62.4..........................................................................................................................................72.5..........................................................................................................................................73.1..........................................................................................................................................83.2..........................................................................................................................................83.3..........................................................................................................................................93.4..........................................................................................................................................93.5........................................................................................................................................10TASK 2....................................................................................................................................104.1........................................................................................................................................104.2........................................................................................................................................114.3........................................................................................................................................12CONCLUSION........................................................................................................................12REFERENCES.........................................................................................................................132
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INTRODUCTIONMarketing consists of different activities of a company that is associated withexchanging of goods and services to the varied customers and it also aware the customersregarding their range of offerings (Rad, Akbari and Motevaselian, 2014). Therefore, it is saidthat marketing plays significant role for the organization to attain success in the competitiveenvironment. It has been also stated that marketing activities also covers different aspectssuch as advertising, promotion of goods and services as well as increases the sales. For thepresent report chosen organization is McDonald's which is known for serving range of fooditems to the different segment customers all over the world. The report will also discuss different elements existing in the marketing process alongwith gaining the information related with benefit and cost associated with market orientation.While the researcher will also focuses on understanding the concept of segmentation,targeting and positioning related with the cited organization that is McDonald's. Along withthis, it also understand the extended marketing mix in the context of McDonald's so that theycan easily meet the requirement of their customers. TASK 11.1In order to ensure successful marketing, manager of McDonald's focuses on differentsteps so that they can easily promote their products and services to the desired customers(Akaka, Vargo and Lusch, 2013). The different steps in the marketing process include-1.The first step in marketing process is to conduct the market research where marketingmanager of McDonald is required to measure different market condition with the helpof proper framework. 2.After that marketing manager must focuses on formulating the marketing strategiesthat basically include all the facets that are affiliated with segmentation, targeting andpositioning (Akehurst, Afonso and Martins Gonçalves, 2012). With the help ofselecting effective marketing strategies they can easily target their customer base andposition their range of food products in the market. 3.After that marketing manager must also include all the elements of marketing mix sothat they can easily market and promote their range of food items and products. 3
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4.The last step in the process include monitoring and controlling of all the marketingactivities and steps so that in case of arising any issues marketing manager can easilymodify the changes. 1.2Market orientation is defined as model or approach that is related with determiningthe desired needs and requirement of customers and designed products and services accordantwith that in order to satisfy the customers (Aloia and et.al., 2013). Marketing manager ofMcDonald focuses on this business approach in identifying the food requirement of theirdifferent segment customers and creating new food products to meet their requirement. It hasbeen evaluated that benefit of market orientation to McDonald focuses on determining theactual need and requirement of the target audiences so that they can amend their foodservices accordant with the requirement. In addition to this, another benefit of marketingorientation is that it help the food company in gaining competitiveness over their competitorsthrough providing them quality food services and products. On the contrary to this, it alsoevaluated the cost associated with the marketing orientation is that it requires hugeinvestment by the marketing manager of McDonald in order to carry out proper marketresearch (Anderson and Mirosa, 2014). Along with this, another cost associated withmarketing orientation include changing preferences and taste of customers. 2.1There are different micro and macro environmental factors which directly influencesthe marketing decisions of McDonald. The macro factors are consider as PEST that ispolitical, economical, social and technological factors that need to be addressed properly bythe senior level authority (Assiouras, Ozgen and Skourtis, 2013). The food company need toabide various government regulations and rules related with hygiene so that while operatingits activities in different countries they must comply with all these regulations in order toavoid any health issue. Another factor is economic factor it ensure that McDonald wouldengage in charging low or affordable prices for their products when there is low inflation ratethus, it will impact the marketing decisions of company. Another macro factor include socialfactor with the changing preferences and taste of customers company change their activities.For instance, in the India majority of customers prefer to eat vegetarian food item as compareto non-veg. Therefore, this change in the preferences results in influencing the marketingdecisions of the company (Bublitz and Peracchio, 2015). The last macro factor that influences4
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