Marketing Mix Comparison Between Burger King and McDonald's
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The report studies the marketing mix comparison between Burger King and McDonald's fast food restaurants. It also formulates a marketing plan in a systematic way. The report concludes that marketing plays an important role in meeting buyers and sellers at a particular place.
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MARKETING ESSENTIALS
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Table of Contents INTRODUCTION...........................................................................................................................1 TASK 1..........................................................................................................................................1 P3 Compare ways in which McDonald’s Burger King apply marketing mix to the marketing planning process..........................................................................................................................1 M3 Various tactics applied by McDonald’s to achieve its business objectives.........................4 TASK 2............................................................................................................................................4 P4 & M4 Develop and determine basic marketing plan for McDonald’s...................................4 D2 Strategic marketing plan that tactically applies use of 7Ps..................................................7 CONCLUSION................................................................................................................................7 REFERENCES................................................................................................................................8 .........................................................................................................................................................8
INTRODUCTION Marketing essence refers to exchange of values and transaction which is intended to satisfy the needs and demand of the people. The marketing refers to activities of an organisation which are concerned with the selling ofservices and goods. McDonald’s is a big restaurant which provides the fast food services to the people (Askeland and Wright, 2013). Under this given report discuss about the comparison of marketing mix among the McDonald’s and Burger Kingfastfoodrestaurants.Underthisreportmentionsabouttheformulationandalso determination of the marketing plan of McDonald’s. TASK 1 P3 Compare ways in which McDonald’s Burger King apply marketing mix to the marketing planning process Marketing mix refers to the combination of all components those can effect on the purchasing power of the buyers and company can control these kinds of business. The marketing mix is the basic part of marketing and in this includes product, place, , promotion, process, physical evidence and also people (Clow and James, 2013). Marketing mix means some set of tactics and also actions that McDonald’s company uses for the purpose of promoting the goods at the market place. Under this, there is a comparison of the marketing mix between the two fast food restaurants and these are McDonald’s and Burger king. Both organisations deal in the same sector. McDonald’s is a fast food restaurant in the United Kingdom. It deals in many fast food items such as Hamburger, Chicken products, desserts, French fries etc. The marketing mix of McDonald’s mentions below as above: Product- It is one of the largest fast food restaurants chain in all over the world. This company sells the chicken items, desserts, breakfast items, hamburgers, cheeseburgers etc. The management of McDonald’s restaurants makes product related strategies. It makes regular changes in the menu on the basis of customer requirements. In a short period of time, McDonald’s keeps on developing new food products and also make some changes in the existing good products. Price- The value of consumer perception is very essential determinant of cost which is charged by the restaurant.In some of the countries, McDonald’s reduced the prices of its all 1
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food items from this large number of people attracted towards the company and enjoy its food items. The management of this company makes regularly changes in its pricing strategy. It also gives offers to the people by this many people get attracted towards it. Offers discounts which are the best strategy to attract the people (Desai, 2013). Its pricing strategy is adopted by lower and middle section of society. The McDonald’s mainly targets the young people who are very convenient and also brand conscious. Place- McDonald’s operates and managed more than 36000 restaurants all over the world. In more than the 110 countries it operates its restaurants. It has various kinds of restaurants such as Mc Express, Mc Drive, McDonald’s Next, Mc Cafe etc. Many of the McDonald’s restaurants allow the consumers to take the indoor and also outdoor facilities. In its restaurants, it banned the smoking and maintained high standard. Promotion- This fast food restaurant spends the more money on the promotional strategies(Bhasin,2016).Itconductsmanyadvertisementcampaignsandgivesthe advertisement with the help of billboards, newspapers, signage sponsors etc. Its primary source of advertisement is television and also social media. Process- McDonald’s regularly make improvement in its cooking process and also methods. It spends money to conduct the research on making improvement in its process. The 2 Illustration1: Marketing Mix (Source: Bhasin, 2016)
process of food production of this McDonald’s is visible to the consumers. Along with this it provides the quick service delivery to the people. Physical evidence- McDonald’s leaves a good impression when this comes in to the physical evidence of the marketing mix (Griffitts, 2016). Physical evidence develops the big positive impact on customers. The major focus of fast food restaurant is on the hygienic and also the clean interiors. Its outlets are very attractive. People- The uniform of McDonald’s is standard. The employees of this company deal with its customers very friendly. Manager gives training to its staff members so that they can deal with its consumers ion an effective manner. The Burger king is global chain of the fast food restaurants of America. It has many fast food restaurants in all over the world. The marketing mix of Burger King given below as above: Products- This food restaurant deals in the many food items such as Salads, Onion Rings, Shakes, French fries, Cookies etc. These elements of marketing mix shows outputs of an organisation which is offered to the target consumers. In many different cities, there are many outlets in all over the world. Price- This fast food restaurant uses the competitive pricing strategy because in this the competition level isvery high from theMcDonald’s. Itmajor competitors areDomino, McDonald’s, KFC etc. The management of Burger King regularly monitors and also determines its pricing policies. Place- Burger King has many outlets in global market. In about 79 countries, it has almost 13000 outlets (Jones and Rowley, 2011). In the United States, it has around 66% outlets and among those 99% are privately owned and also operated. Promotion- Burger King uses many different tactics for the purpose for promoting its food items and also its services. This marketing mix element is very useful and also effective in order to communicate with the people. It uses advertisement, public relation, sales promotion and also the personal selling in promoting its products. Burger king gives advertisements with the help of Television, printed media, online etc. Process- The main focus of Burger King is to segmentation of consumers that spend their moneyontherestaurants.Majorlyyounggenerationvisitthisfastfoodrestaurant.The concentration of the Burger King is on adding some values to its restaurants. 3
Physical evidence- In 50 states, Burger King has more than the 11900 restaurants. It has a big presence in the United States. The interior of this restaurant is modern and people are attracted towards its restaurants. People-The manager of this fast food restaurant gives the training facilities to its customers, so that they can give the good customer service to its clients and satisfy their needs. The employees deals their clients in a very friendly nature (Kennedy and Parsons, 2014). M3 Various tactics applied by McDonald’s to achieve its business objectives For achieving the organisational objectives in a very effective way, McDonald's fast food restaurants applied many different tactics and these are given below as above: For enhancing the development and also sales of business, it provides the better quality of the food items at reasonable costs. The manager of this McDonald's increase the morale of its staff members in order to enhancing their working abilities. Top management conducts trainingand development related facilities for the purpose of enhancing the capabilities and also knowledge of staff members. From this they can perform better and give the good customer service to people. TASK 2 P4 & M4 Develop and determine basic marketing plan for McDonald’s Marketing plan refers to the blueprint and also a document that outline business marketing efforts and also advertising for coming years (Lamb, Hair and McDaniel, 2011). In the marketing plan, there is an explanation about the existing position of the market in which many different elements are included. The each and every business organisation make its own marketing plan in order to enhancing the sales and productivity of the business. McDonald's is a biggest fast food chain restaurant in all over the world. It has 34000 restaurant in local who serving almost 69 million people in 119 countries every day. Basically the plan is formulated for the future. The marketing plan of McDonald's given below as above: Mission of McDonald's-The mission of the McDonald's is to make the favourite place of consumers and a way to drink and eat the products. This fast food restaurant going to dedicated the great and attractive place for the people to work by maintaining the positive environment. 4
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Vision of McDonald's-Its vision is to be the fast food leading and number one restaurant in all over the world. Objectives- ď‚·The main objective of McDonald's is to serve the people best quality food products. ď‚·Its another objective is that the cooperation of McDonald'sis to the favourite place for consumers to eat. ď‚·The main focus of McDonald's is on fulfil the needs and wants of customers by identifying their tastes. Target market-The McDonald's divide its food items on the basis of 3 different categories (Papasolomou and Melanthiou, 2012). Under these includes the children, family and alsostudents.Theyallareverypassionatetowardsthefastfood.Themainmotiveof McDonald's is to offer the services to customers in friendly nature and also make the fun environment Si that every one can enjoy. In this the segmentation is on the basis of demographic, psychographic, geographic and also behavioural. Demographic Age- It is basically for the all group age people' Gender- Male and female Income level- Small and medium income group people. Family size- nuclear and also single family. Occupation- Student, Children, employed, unemployed Geographic segmentation Country- All countries Regions- 13 Other countries and also United Kingdom. Density- Rural and Urban both Psychographic Segmentation- It is based on the lifestyle, attitude, personality, beliefs etc. Lifestyle- Traditional, western , business class Personality- Easy going and Determined 5
Behavioural segmentation User status- Switcher, active user Attitude- Negative and positive Occasion- Regular and Festive Targeting-The McDonald's uses the Mass Marketing related strategy. With the help of thisstrategy, McDonald's can target the various people of group from the various market. Its major focus is on the needs and also wants of all categorises people whether it is student, children and also family (Nguyen and Simkin, 2012).It attract the consumers by providing the attractive offers and discount. Positioning-McDonald's offers the many productive things and do some effective strategies in order to increase the goodwill of company. Its main motive is to maximising the sales and productivity of business. Services and Products- McDonald's deals in providing the fast food items such as Chicken Products, Cheeseburger, Hamburgers, French fries, desserts, salads etc. It always take care the needs and demand of people and also fulfil. Promotional strategies and also marketing-McDonald's uses many different ways of promotion such as news papers,holdings,radio, social media, magazines etc in order to know people about the products (Swenson, Rhoads and Whitlark, 2014). The social media is the best and also effective way of promotion because from this many people are connected. In its promotion, it gives the offers on its food items. Identification of Competitors-For making the business effective, it is necessary for company is to know about the competitors and also their making related strategies, the main competitors of McDonald's are Burger king, KFC, Domino's etc. It is important for company to increase its sales, manager should analyse the strengths and weaknesses of its competitors. Manage funds-For the marketing related all the activities, there will be the requirement of the funds. It is the duty of financial department is to arrange and also manage the funds for the marketing related activities. So, that the marketing department make its marketing plan effective and also implement properly. 6
Monitor result-After all these steps, it is necessary for the manager is to evaluate that all the marketing related strategies are properly workable or not. D2 Strategic marketing plan that tactically applies use of 7Ps The McDonald's fast food restaurant develops the effective and also a better marketing related plan for formulating of new goods and services. In the marketing plan, McDonald's uses the 7Ps for making the marketing plan effective (Wirtz, 2012). In the 7p's includes price, product, place, promotion, physical evidence, process, people. With the help of using these all components McDonald's can achieve the organisational objectives in a particular time period. CONCLUSION It has been concluded from the above given report that marketing plays an important roe in meeting of buyers and also sellers at the particular place. In this given report studies about the marketing mix comparison in between Burger King and also McDonald's fast food restaurants. There is also studied regarding formulation of the marketing plan in a systematic way. 7
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REFERENCES Books & Journals Askeland, D.R. and Wright, W.J., 2013.Essentials of materials science & engineering. Cengage Learning. Clow, K.E. and James, K.E., 2013.Essentials of marketing research: Putting research into practice. Sage. Desai, S.S., 2013. An analysis of the competitive marketing strategies of the hospitality industry in UAE.IUP Journal of Management Research.12(1). p.22. Griffitts, M., 2016. Human Resources Marketing and Recruiting: Essentials of Internship Management.Handbook of Human Resources Management, pp.103-118. Jones, R. and Rowley, J., 2011. Entrepreneurial marketing in small businesses: A conceptual exploration.International Small Business Journal.29(1). pp.25-36. Kennedy, A.M. and Parsons, A., 2014. Social engineering and social marketing: why is one “good” and the other “bad”?.Journal of Social Marketing.4(3). pp.198-209. Lamb, C.W., Hair, J.F. and McDaniel, C., 2011.Essentials of marketing. Cengage Learning. Nguyen, B. and Simkin, L., 2012. Fairness quality: the role of fairness in a social and ethically oriented marketing landscape.The Marketing Review.12(4). pp.333-344. Papasolomou, I. and Melanthiou, Y., 2012. Social media: Marketing public relations’ new best friend.Journal of Promotion Management.18(3). pp.319-328. Swenson,M.J.,Rhoads,G.K.andWhitlark,D.B.,2014.Startupmarketing:Leveraging leverage.The Journal of Applied Business and Economics.16(6). p.56. Wirtz, J., 2012.Essentials of services marketing. FT Press. Wu, C., Kirkole, S. and Huang, Y., 2016. Environmental Protection: Essentials/Antecedents of Digital Book Adoption.Theoretical Economics Letters.6(05). p.1115. Online Bhasin, H., 2016. Marketing Mix – The 4 p’s of marketing. [Online]. Available through: <https://www.marketing91.com/marketing-mix-4-ps-marketing/>. 8