TABLE OF CONTENTS INTRODUCTION 1 TASK 11
Added on 2020-10-23
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Marketing Essentials
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11. Concept of marketing with its current and future trends....................................................12.An overview to different marketing process.......................................................................23.Roles and responsibilities of marketing manager................................................................34.Influencing of marketing that interrelates with other functional departments of theorganisation............................................................................................................................45. Importance of marketing in McDonald's............................................................................46.Summarizing interrelationship between various functional department.............................57.Comparison of marketing mix between organisations........................................................68. Marketing plan of the McDonald's.....................................................................................9Conclusion.....................................................................................................................................14Reference.......................................................................................................................................15
INTRODUCTIONMarketing refers to the term where buying ans selling of goods and services takes placeto keep and satisfy the customer(A. Griffith, and et.al., 2014). It is one of the essentialcomponents of business organisation. To reach the customer and to developed strategies fouressential elements are used in doing marketing of product that is identification, development, itsprice and distribution channel. In this current report role of marketing and its functional units inMcDonald's organisation will be studied. Its value and importance in the organisation and therole of manager in doing marketing is also to b e studied. Further different marketing processwith current and future trends will also be discussed in this report.TASK 11. Concept of marketing with its current and future trends.Different marketing concepts:Production concept: this is the idea where consumers will only favour products which havehigh demand in the market. Companies which adopt this concept run a major risk to focus ontheir own business operations.Product concept: according to this concept, consumers only hold product which have highquality, performance and have innovative features.Selling concept: according to this concept, consumers will not buy firm's products until it haslarge selling and promotion effect.Marketing concept: this is the concept which adopt by companies in order to achieveorganisational goals in accordance with needs and wants of the consumers.Marketing concept is the process which is implement by firms to satisfy customer needs,to increase profitability of the company and also to increase sales volume of the company.Marketing is a term used in the McDonald's organisation for the buying and selling of goods andservices in the entity to keep customer attracted and satisfy them with particular needs and wants.Marketing used to attract customer in the organisation by doing some promotional activities inthe entity that can be advertising, selling and distribution of product and services so thatorganisational objectives can be achieved.(Baker, M.J., 2016. )Current trend in marketing includes the elements which are the present expectations ofthe customers with the organisations. Company present expectation is to introduce new productsthat would satisfy customer expectations and which also increase company's sales by which1
company will able to products which their competitors not able to provide to customers inbusiness market. Therefore, current trends according to recent research are globalisation,diversity, native story telling from the help of social media, marketing with message and emails,brand positioning, more investments in promotional activities, educating customer about theproduct of the organisation etc.Future trends in the company are the strategies which every organisation has to performto shape the future of the market. Future trends policies in the company has a large impact thatevery organisation face McDonald's is also facing the same because of large competitors in themarket. Future trends in the marketing is to maximise the efficiency cost cuts are now new factorin the organisation. Companies which are connected to customer via social network areachieving more profits than that of companies which are not connected through social media.Data security grantee is to be provide to every customer like if customers are paying throughdigital option like (debit or credit cards) their data security is must so that customers can feelsatisfaction with the organisation. ( Pelsmacker van Tilburg and Holthof, 2018.)2.An overview to different marketing process.Marketing process is the elements used to analysis the opportunities in the market, totarget the customer in the market, to develop marketing mix for the effective managementprocess. Here are the different marketing process applied by the McDonald's organisation.To analysis new opportunities in market.New opportunities of market is to be analysed so that organisation can avail thatopportunities to satisfy the customer needs. These new opportunities are the factors thatcompetitor cannot be able to satisfy the customers in the market. By finding this newopportunities' entity can able to attract the customers. Such strategies are to be so effective that itruns for the long term success and improve entity's performance.Selection of target market.It is the most important step which help entity to target the customers from the markets.McDonald's cannot be able to target the whole market for that therefore these market is dividedinto three segments that is market segmentation, market targeting, and market positioning.Market segmentation includes different segments of consumers which have similar wants andneeds and which needs different marketing mixes and strategies.(Huang, X., 2018.) Markettargeting includes strategies which satisfy the customer for long run success of the company.2
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