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The role of the marketing function in McDonald's and Aldi

   

Added on  2020-09-08

16 Pages5399 Words182 Views
Marketing Essentials

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1. Key roles and responsibilities of the marketing function.....................................................1P2. Marketing inter-relationship with the other departments in the firms..................................4TASK 2............................................................................................................................................7P3. Comparison of the marketing mix elements of McDonald's and Aldi..................................7TASK 3............................................................................................................................................9P4. Marketing plan for McDonald and its analysis.....................................................................9CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................13

INTRODUCTIONBusiness is the trade of goods and services in exchange of money, but in order to makesure that more number of products are sold so that the profit margin can be increased it isnecessary that its marketing is done properly. Marketing is an activity which involves promotionand selling of the goods which involves market research and advertising. It is the way throughwhich the concept of the business is reached to its target customers (Al-Hasan, Thomas andMansour, 2016). This includes coordination of four elements called the 4 P's of marketing.Through this, firms want to convince and satisfy the consumer that why they should use theirproducts and what all benefits they will have if they do so. Due to expansion of businessenvironment competition has increased and if organisation wants to gain competitive advantagethey have to adopt marketing strategies which are unique and flexible (Babin and Zikmund,2015). This all report will be consisting of marketing essentials and how they interrelates withother functional units of a company. What are the role and responsibility of marketing activitieswill be briefed in this and for this fast food restaurant chain McDonald's will be considered. It isowned renowned company and who has set new benchmark in the food industry all over theworld. This would be interesting to see its marketing concept and what all things they adopt tobeat their rivals. TASK 1P1. Key roles and responsibilities of the marketing function.Marketing is the study and management of exchange relationships. It is the process ofcreating, communicating, delivering and exchanging offerings that has certain value for theconsumers, clients and society if it is taken into larger context. The basic aim of this is to bringnew customer, retain and satisfy the existing one. It is the customer centred activity whichinvolves ideas and innovation. If a business have to survive in the market they have to bring newmarketing concept on regular basis and this will help them to engage their customers in thebusiness operations (Baines, Fill and Page, 2013). Whatever targets they have through they canachieve them in quick period of time and will also ensures proper use of the resources. Whenevera firm introduces a new brand they definitely bring a marketing concept with them. This helpsthem in attracting customers towards them in less period of time. Without making people awareabout the goods and services it is impossible to sustain in the market. Through analysing all the1

things like their competitor's products, market condition, demographic factors, trends, customertaste and etc. they have to design their marketing campaigns. In this they have to make sure thatit posses creativity and uniqueness. It should reflect their concept and should convince peoplethat why they should buy their products. In a same sector there are products which has lots ofsubstitute so the firms regularly have to update and bring new things in the market. There was time when marketing didn't had a crucial role in the success of organisationsas there were less number of rivals in the same sector, economies was not open and there was notmuch privatization. But in this era where technologies has become advanced and this has broughtnew platforms of communication (Baker and Saren, 2016). This has changed the scenario and theimportance of marketing has also increased. Firms are focusing on attracting new consumersthrough their marketing operations and all there activities has become customer oriented. One ofthe reason for this is that the purchasing power of customers has increased. Through marketingresearch they find out the needs and requirements of the consumer and according to it theyproduce products. For example; there is an area where lifestyle of people is not good andbelieves in eating something cheap. So any fast food restaurant brings a new chicken burgerwhich is cheap and healthy (Banerjee, 2013). Through better marketing they can double thecustomer and at the same time they can increase their profit margin. All the objectives are set bytaking consumer demands in preference. McDonald's is an American fast food restaurant chain which was established in 1940 inthe city of California. Hamburgers, cheeseburgers, chicken products, French fries, breakfastitems, soft drinks, milkshakes and various varieties of desserts are included in their menu. It alsobrought salads, fish, wraps, smoothies and fruits in their menu after facing protest and criticismover its unhealthy products. It operates in almost 119 countries with 3000 restaurants and servesto 45 million individuals all across the world. It is top ranked restaurant chain in the world. Notonly they own self restaurants but the franchisees concept is also followed. Only 9000 stores areunder their ownership and the rest are on franchisees level (Beatty and Samuelson, 2014). Withthe net income of almost 4 million its experienced approx. 23 billion revenue in 2016. Talkingabout its other factors it is the world second largest employer with employing 375000 people intheir various chains. They have restricted themselves to a single structure but believes infollowing matrix structure for various activities. Functional structure is used for the corporateitself, divisional for the restaurants and geographical for their global market. To make sure that2

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