Analysis of Marketing and Business Essentials

The provided document is a collection of various marketing and business essentials from different sources. It includes a handbook on service business, books on sponsorship, patent law, cardiac surgery, and online course design, as well as articles on social engineering, CRM, and competitive intelligence. The assignment requires analysis and understanding of these concepts to provide a comprehensive overview of marketing and business essentials.

MARKETING ESSENATIAL

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Roles and responsibilities of the marketing function of McDonald......................................1
P2 Roles and responsibilities of marketing in context with different organisation....................3
TASK 2............................................................................................................................................5
P3 Marketing mix that is followed by McDonald.......................................................................5
P4 Marketing plan for McDonald...............................................................................................9
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................14

INTRODUCTION
Marketing is considered as an important tool according to the modern business
organisation. It includes demands of the customers, understanding of marketplace, market
strategies for establishing their business and many more. According to the current market
situations if the company wants to remain in the market for a longer period of time that they must
work as per the customers needs and wants (Anderson and et. al., 2014). Other than this, it is
essential that firm maintains a good relations with consumers. Company that is been taken in this
report is McDonald, which is a big food chain and operates its business all over the world. In this
report the roles and responsibilities of marketing functions in context with the selected
organisation is mentioned in this assignment. Along with this comparison between different
companies and how they have applied marketing mix to the marketing planning process for
achieving business objectives. Lastly, evaluation of basic marketing plan of McDonald.
TASK 1
P1 Roles and responsibilities of the marketing function of McDonald
Concept of marketing is one of the important element in which organisation tries to
identify the needs and wants of customers so that they can manufacture products accordingly.
Thus, McDonald is using various marketing concepts so as to give effective services and
facilities. Therefore, it is assisting them in delivering best quality products to its end customers.
Some of the marketing concept is mentioned below that is being used by McDonald in order to
improve their business:
The Production Concept: This is the concept in which company tries to optimise all the
resources that are available to them so that they can make best quality products. This will enable
them in enhancing their revenues and sales as well. Other than this, McDonald is making certain
strategies in which they are interoperating laws by which they can minimise wastage (Brychkov
and Domegan, 2017). This is enabling them in making large number of profits and also helping
them in sustaining better position at market area.
Product Concept: In this, most of the company tries manufacturing goods as per the
choices and preferences and it is assisting them in gaining customer's value. For making quality
products McDonald is taking feedbacks and reviews form their customers. Therefore, it is
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essential that managers of the company monitor the market situation on a regular basis for
analysing and performing the task in a better manner.
Selling Concept: This is the factor that is important and helps an organisation in
increasing sales and for this company use different marketing concept for selling the products
and commodities (Bryson and Daniels, 2015). Apart from this, McDonald is using various tools
and technologies like internet, social media, online websites etc., therefore, it is enabling them in
increasing their revenues.
Concept related to marketing: Marketing is considered as an essential part that helps an
organisation in gaining competitive advancement. Company provides all the information related
to the products to its customers so that they can have an overview regarding the commodity. For
this, it requires that organisation makes effective strategies and plan of action which they can use
for marketing purpose. Managers in this, focuses more on providing better services so that they
can fulfil the demands and wants of customers.
Concept related to society: To sustain a better position at market area it is required that
they consider all the factors that are available in the market area and society as well. By
conducting surveys McDonald can make out the the choices and preferences that of customers in
particular area.
Role of marketing:
Marketing is determined as one of the important element for an organisation as it helps
them in generating more revenues. This assist them in maintaining a a good relations with
customers. In context with McDonald they are using different marketing strategies for pulling
attention of maximum number of people. It will gradually increase the sales and profitability, in
respective areas where they have established their business (Cornwell, 2014). For this, company
is using different tools of marketing and it is assisting them in providing better services to its
customers.
Functions of Marketing:
There are various functions that are to be performed by the department of marketing and
these are mentioned below:
MIS(management Information System): The department of MIS helps an organisation
in optimising all the gathered information so as to improve business operations. Prime role of
this department is to manage the entire activities so that they can get effective results. Managers
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take help from the data that are provided by them so that they can make appropriate decisions.
As a result it assist the organisation in achieving the goals and objectives in specific time frame.
Pricing: In context with McDonald it is important that they considered all the factors for
fixing the cost of the commodity (Durham, 2018). As it is one of the essential element so
company must set prices that customers can pay by their will. Managers can determine the
pricing strategies that are adopted by other company as well so as to have an ideas about current
market situations.
Product and services management: In this company tries to make improvement in their
designs and food items so that they can attract more and more customers towards their
organisation. In context with McDonald is making alteration in their products for example: they
are giving food stuffs along with interesting flavours.
Distribution: Under this, company tries to look out the places where they can establish
there business and from where firm can gain maximum benefits. For this, McDonald has set up
their company in those areas which have a decent network.
Finance: For giving effective services it is important that company have huge amount of
money which they can invest for providing better results. Appropriate funds are used for
purchasing raw materials which can be used for production process. If firm don't have adequate
resources than it can have a negative impact on its customers and decrease in sales can be seen.
Selling: Marketing can be directly linked with sales and for this, company optimise
various tools and technologies in order to reach to maximum number of people. Therefore, by
providing better services and facilities they can increase their sales and profitability. Other than
this, it is assisting them in establishing a better communication with its customers.
Promotions: This is an essential component that is used by most of the firm so that they
can pull attention of maximum number of people. Thus, for promoting their activities they are
giving advertisements in social media, television, newspapers and magazines etc., other than this,
they are merchandising with other brands also.
P2 Roles and responsibilities of marketing in context with different organisation
The marketing department of a company formulates various strategies in order to
promote products or services in an effective way. They perform various responsibilities for
enhancing sales performance of organisation (Hacker, Gambone and Hobel, 2015). It includes
survey of marketplace, purchasing power of people, lifestyle, preferences, demands of customers
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and more. In context with McDonald, its marketing department takes responsibility to find
strategy of competitors like Burger King. Further, they formulate better policies for attracting
large number of customers towards products of this food industry (Jacoby, 2014). In context with
widening business of this company, roles and responsibilities as described below:-
Production V/s Marketing sector: Functions of this department is much dependent on
marketing and sales division. Therefore, marketers of McDonald used to identify in which area
people are more interest in inhaling fast food products. According to this, they make data as per
demand of customers through which production division analyses the situation and manufacture
the eatables accordingly. Thus, it is duty of marketers to measure the needs and demands of
customers so that production department can operated functions in an appropriate manner. These
kind of sector are mainly linked to each other as the marketing sector tells the production sector
about the actual demands and quantity to produce. In addition of this, both production and
marketing department are connected through which manager produce quality food products to
customers as per their needs and wants. This will enhance the profitability level of the company
at market place and at the same time also also capture larger market share form its rivals.
Research and development V/s Marketing sector: Marketing department along with
marketers used to identify trends of marketplace as well as taste of customers. Along with this,
managers of both divisions conducts various activities in order to improve brand image of
McDonald at marketplace. These activities are also used to search in which area purchasing
power of people is high as well as has good taste. This would help in increasing the sales
performance. Marketing sector is also linked to research and development sector as both of them
conducts the research and thus provide the data to one another for better help and outputs. Along
with this, research and development department undertake an effective research to evaluate
market trends and customers demand by which manager of marketing set their products and
services. With the help of this form enhance their profitability level. As both are interrelate and
also play vital role in establishing positive brand image.
Customer services V/s Marketing sector: This is the most essential task in which
company always seeks to provide effective services to customers. In case of McDonald, in
various outlets of this firm its staff members have welcome customers in a more specific way
and complete their necessities on time. Its CRM(Customer Relationship Management) is
responsible to make good interaction with guests and use various tools or technologies for
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making an interaction with them. These kind of sector is highly interlinked with one another as
marketing is being done with motive of analysing the actual needs of customers and thus fulfil in
better and effectual manner. One of the main benefit of marketing sector is that they easily serve
quality services to its customers as per their needs and wants which may increase the satisfaction
level. As it is stated that both are interrelate with each other and at the same time also increase
the chances of attaining better success at market place.
Finance V/s Marketing sector: This department has conduct various activities in order to
find sources of funds and raise finance from there. Along with this, finance manager and
complete team used to measure the finance required by other divisions for carrying their
operations. After investigation, they allocate them money as per requirement (Marketing Mix,
2018). This department helps marketing divisions in promotional and other type of activities
which helps in attaining the objectives of organisation in a proper way. This kind of relation is
mainly explained by the example like conduction of event for the promotion and thus for that
budget can be formulated. This kind of budget can be made and passed in by the finance sector
so that campaigns can be conducted by funds which are allocated. Apart from this, finance
department allocate enough fund to marketing division as they can easily promote and advertise
their products in market place. As it helps in increasing overall sales of the company.
Human Resources V/s Marketing sector: HR managers also play an effective role in
enhancing the business of enterprises. All departments of a company are totally dependent on
this division. As it provides them necessary resources like manpower without whom any function
of an organisation cannot be done (Kaplow, 2015). For this assistance, human resource
management used to identify need of employees in workplace, job responsibilities of them and
more. After then they conduct various activities to introduce the people over there. In McDonald,
HR managers used to recruit people who are good in interacting with customers and
understanding their need as well as fulfil on time. For increasing sales and marketing human
resource management plays an important role as candidates those who are hired must be capable
of performing the task in a better manner. Therefore, eligible employees will help organisation in
attaining goals and objectives effectively. With the help of this marketing department easily
enhance customers base by analysing their needs and wants towards the company products and
services.
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Information Technologies V/s Marketing sector: This division helps in launching
unique applications for making connection with customers. It provides necessary information
about products and services of McDonald to people in a positive way. In addition to this, it also
provides offers and discounts to customers through online applications. In context with
marketing, IT department helps in promoting the products or services to various users through
social media and other other online applications in an easy manner. IT sector mainly gives out
the latest tools and techniques which in turn can be adopted by the marketing so that objectives
of the company can be attained in best and effectual manner. Along with this, IT department
provide relevant to marketing manager through which they easily produce quality products and
services to their workers. This will contribute in attaining better satisfaction of the customers.
Thus, from all these data it has concluded that McDonald used various measures in order
to promoting its products or services in marketplace which would further aid them in maximising
sales and productivity as well.
TASK 2
P3 Marketing mix that is followed by McDonald
Marketing mix refers to a combination which can controlled through an organisation to
impact consumers in order to purchase the products of firm. It is set of tactics and actions which
a firm uses for promoting its products as well as brand (Kazmi, 2017). Under this 7p's of of
marketing mix mention in which product, price, place, promotion, place, people and physical
evidence.
Effectiveness of an organisation in executing marketing mix contribute towards leading
performance of McDonald company and conduct business at global fast foods restaurant.
Marketing mix of McDonald and Burger King:
Basis McDonald Burger King
Product This firm is leading fast food
restaurant and it sells chicken
products, breakfast items,
hamburgers, milkshakes, desserts
and many other food items. It also
involves smoothies, fruits, salads and
Burger king is one of the famous
company which produce various
food products as McDonald. With
the help of this company easily
capture customers attention
towards the company products and
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fish wraps. This firm is mainly
known as hamburgers. This
organisation places a considerable
emphasis on preparing menu which
customer wants (Kennedy and
Parsons, 2014). The requirements of
consumers are changing day by day.
So, this firm make changes in its
products on the basis of their needs.
services. In addition of this,
company also offer hamburgers
with varieties of features which
may leads in improving overall
performance of the company at
market place. Along with this, they
also serve coke, food and beverage
and various food products to its
customers as per their needs. For
attaining the same company also
change their menu card as per
regular basis. This will contribute
in increase profitability level of the
company at market place.
Price Perception value of consumers is
necessary determinant of cost
charged. McDonald provide its
goods on reasonable cost which
every person can be afford. Going
rate, cost discrimination, loss leader
and cost plus pricing. The main aim
of this firm is to offer foods at
reasonable cost.
It is monetary term which is
charge by company to its
customers as per product price and
quality. In this context, burger
king use various pricing strategies
to set their product price
appropriate as compare to its rivals
(Lock, 2014). Along with this,
company also monitor the price as
well as quality of the products. In
this, company also assess the
customers behaviour to determine
their willing to pay towards the
company products.
Place In addition to this, distribution
strategies is an effective ways under
As per current market, company
operate their various outlets where
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which an organisation gets its goods
to consumers. This business firm has
various distribution strategies in
various countries. In many of the
countries, some of its restaurants are
open 24 hours.
they offer their products and
services to its customers. Along
with this, company also expand
their business activities by
collaborating with another
company in order to increase
profitability level of the company
at market place. They also set their
outlets with attractive which may
invite larger number of customers
towards its products and services.
Promotion Between its promotion tactics,
advertisement of McDonald is most
notable. The main promotional
strategies which are used through
McDonald are sales promotions,
mechanising, loyalty schemes etc.
Under this, burger king use
various promotional strategies
which help them in increasing
public awareness and also create
string customers base within the
business. By using better
promotional activities Burger King
easily enhance their positive brand
image and at the same time also
capture larger market share form
its rivals.
People Staff members in McDonald have
standard uniform and their main
focus is on promoter its services as
well as friendly to consumers from
staff members (Moran and Hunt,
2014). All its franchise are fully
trained in the consumer management
and keeping them happy. Under this
Burger king includes skilled and
capable workers to execute
business activities in effective
manner. Along with this they also
set their products as per various
age groups which helps in
increasing profitability level of the
company at market place. In
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firm, more than 97,000 staff
members are working.
addition of this, Burger king also
manufacture food items as per
customers preferences.
Process It is set of the activities which are
performed in context to accomplish
something. This organisation takes
many activities in order to deliver its
goods to consumers. Process of food
manufacturing of McDonald
organisation is transparent.
For attaining better success at
market place, it is important for
Burger king to use effective
manufacturing process which may
leads in improving overall
performance level of the company
at market place. By this Burger
King produce quality goods and
services to its customers as per
their needs and wants which may
helps in improving overall
performance.
Physical evidence It is a component of marketing mix.
Under this, experience of consumers
and physical environment of
company included. It will affect not
only on impression of consumer of
restaurant and also way of the
functions of McDonald. The interior
of thus restaurant is attractive and
people like the most.
Under this workers having as well
as use experience in which they
easily serve quality products and
services to its customers (Nguyen,
Simkin and Canhoto, 2015). In this
company also use Pamphlets,
brochures and many more to
provide product and company
information to its customers in
order to invite as well as attract
number of customers towards
company services.
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P4 Marketing plan for McDonald
Marketing plan is known as that written document of firm that consists marketing
objective of entity. This highlight the major marketing strategies use by firm to attain it
marketing objective (Oplatka and Gurion, 2017). This plan is known as one of the most
significant part of every business as this contribute in growth and success of entity. Marketing
strategies of McDonald's is given here that help entity in accomplish all its goals and at the same
time support in help in achieve its mission. Large number of factors are there which affect the
marketing activities and objective of entity so it is very essential for manager of firm identify and
examine all those factors for formulate a better and effective marketing plan. Major areas cover
under the marketing plan is given in the following points:
Executive summary: Various steps are follow by manager to formulate a marketing plan
or it can be said that it is formulated in a systematic manner which help in cover all major
aspects and concepts. It is very essential that an effective strategy should be use by firm to attain
its set marketing objective. Further it is also significant for workers to perform their job roles in
adequate manner so entity can attain its set goals and objectives.
Company Overview: McDonald is one of the leading company across the world and they
are delivering their best quality products to its end customers. Organisation was found in the year
1940 by Richard and Maurice McDonald in California, US. Today, McDonald is one of the
leading chain in restaurant and provide large different type of food products to its customers and
today it has a large customers base of more than 70 millions in more than 100 countries. One of
the main features of firms is that it offer different food items to its consumers at lower prices.
Current marketing situational analysis: Situational analysis support manager in
formulate a better marketing plan and at the same time this increase effectiveness of business
activities. This make the manager inform about current needs and requirements of customers
(Pollock III, 2015). All this help in increase effectiveness of production process.
Internal analysis: Carry out internal analysis is known as one of the most essential
component for for develop a marketing plan. With this manager collect information about the
strengths and weakness of entity and this help manager in take better business decision. Further,
various factors such as communication with all staff members, structures adopted by entity and
many more is examined by manager (Rowley, 2016). For this, there is a tool called SWOT
analysis that can be use by McDonald and with this entity can increase the chances of success of
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its products and can increase its customer base. One of the main benefit of SWOT analysis is that
it help in utilise all opportunities in effective manner.
External analysis: This is another analysis which should be carry out by firm for
formulate an effective marketing plan. A business entity work in business environment which is
a combination of various internal and external factors. All these elements affect the decision
taken by entity and at the provide them direction to work in appropriate manner. Major external
factors that largely the activities of a business organisation are political, social, environmental,
economic, legal and technological. For example, it is mandatory for McDonald to follow the
rules and regulations of every country to expand its operations there. If a change take place in
legal policies of that country than it become compulsory for McDonald to follow the same.
Further modifications in these factors sometimes serve as a threat to entity.
Marketing plan objective: One of the main reason behind formulation of marketing plan
is to determine the major strategies choose by entity to attain its marketing objective that
contribute in its success and growth.
Strategies: An action plan which a firm follow to satisfy the needs of its customers and to
attain its set objective is known as strategy. Porter's five force model is use by entity to gain an
understanding of of marketing which help in formulate better and effective strategy.
Marketing Mix:
Product: It refereed as the final commodities which produce by the company with the
purpose of satisfy customers needs and wants in appropriate manner. In this context McDonald's
tries to produce quality and unique products which may leads in increasing overall sales of the
company. This will aid in enhancing profitability and productivity level as well (Tsui, Karam and
Bernal, 2016). Thus, it is main reason of company success is its quality products which may
leads in inviting as well as attract larger number of customers. This will directly contribute in
increasing profitability level of the company.
Price: It is one of the most important term which helps company to attain larger
profitability level. As McDonald's is famous for its rated as they offer quality products and
services to its customers at affordable cost (Wirtz, Tuzovic and Kuppelwieser, 2014). Along
with this they also utilize resources at optimum level which may leads in enhancing their
profitability level at market place. For attaining better success at market, it is important for
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company to maintain their products price with higher quality. This will aid in increasing
customers base.
Place: It is also important for business organization to set their outlets in various areas in
which company serve their products and services to its customers with the purpose of attaining
higher profitability level. In recent time, McDonald's operate approx 36900 stores in over the
world. In which number of people are visit their stores. In this various products are provide such
as French fries, Burger, breakfast and many food items.
Promotion: For enhancing profitability level of this company it is important for company
to promote their products and services in market place. This process used by the company after
manufacturing the final goods. In context of McDonald's, they effectively communicate wit their
customers by using better promotional tools. With the help of this they easily attain customers
satisfaction. In this, company also hire personalities like brand ambassador in order to invite
larger number of customers towards its company products.
Budget: This is use by firm to determine the funds require to complete business
operations.
Marketing budget
Particulars
1st
year
2nd
year
3rd
year 4th year 5th year
Initial fund 20000 5000 7500 5000 10000
Finance 15000 12500 15000 10000
Total 20000 20000 20000 20000 20000
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Marketing
expense
Publicity 5000 4000 3000 5000 5000
Sales publicity 2500 2000 3000 2000 2000
Direct
marketing 3500 1500 1500 2500 1500
Internet
marketing 3000 1000 2000 2000 2000
Social media 3000 4000 5000 5000 4000
printing 500 2000 500 400 500
Events 1000 1000 2500 1500 1000
Total 18500 15500 17500 18400 16000
Evaluation: This is the last step in which different strategies use by firm is evaluated by
manager to determine its effectiveness (Wright, 2014).
Control: Under this, firm make policies and strategies to manage all business activities in
appropriate manner. This help in attract large number of customers towards company's product
and at the same time increase profits of entity.
CONCLUSION
From the above report it has been concluded that, in order to have proper business
operations it is important that company formulate and implement certain strategies which they
can follow for having better outcomes. Other than this, they are can go through the current
market situations so as to identify the choices and preferences of customers. Along with this, by
making proper strategies and plan of action company can gain maximum benefits and
competitive advancement as well. Above mentioned organisation is using marketing mix and
plans which is used by the firm for operate their business effectively.
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