Marketing Essentials McDonald's
Added on 2020-10-05
20 Pages7435 Words313 Views
Marketing Essentials
Table of ContentsINTRODUCTION................................................................................................................................3TASK 1.................................................................................................................................................3P1 Key roles and responsibilities of the marketing function...........................................................3P2 How roles and responsibilities of marketing relate to the wider organisational context............5TASK 2.................................................................................................................................................7P3 Different ways in which organisations apply the marketing mix to the marketing planningprocess to achieve business objectives............................................................................................7TASK 3...............................................................................................................................................10P4 Marketing plan for McDonald's................................................................................................10CONCLUSION..................................................................................................................................12REFERENCES ..................................................................................................................................14
INTRODUCTIONManagement process in which services and products are moved to customer from conceptrefers to marketing. Marketing is a technique through which organisation gain growth and success.It includes understanding of market, demands and requirements of customers, implementingcustomer driven strategies and give customers quality. McDonald's is one of the leading fast foodorganisation of the world. It was founded in 1940 by Richard and Maurice McDonald in America.In this report, a discussion will take place on the roles and responsibilities of marketing for anorganisation and it's relationships with other functions of organisation. Comparison table will alsoget designed between McDonald's and Burger King which shows the marketing mix of both theorganisations ( Baker and Magnini, 2016). A small discussion will also take place on the marketingsteps which McDonald's have to study before launching their “McDonald's Pizza”.TASK 1P1 Key roles and responsibilities of the marketing function.Marketing : According to Lucy, Chelsey, Tanya, marketing is a process of planing andimplementing the strategies, costings, advertisements, and innovations of goods and services, whichare developed to exchange and satisfy the customer and organisations needs.Concept of marketing: It is a strategy which is implemented by organisation to meet needsof customers, enhance sales, increase profit and beat competition. Five marketing concepts whichorganization can implement are – production concept (products which are inexpensive and availableare preferred by customers), product concept (products which offer innovative features,performance and quality), selling concept (products which are promoted widely attract customers),marketing concept (value is delivered to customers, their requirements are fulfilled), societalmarketing concept (focus on needs of target market and deliver services effectively).Current and future trends: Current trends in marketing include combination of trendswhich were used previously and improvement in them. Marketing methods which are used byMcDonald's are- social media marketing (advertisements are given on social media like Facebook,Instagram and many more platforms), retargeting campaigns (campaigns are organised to attracttarget segment), text message advertisement (messages are sent to individuals), targeted emails(emails are sent to targeted segment) and internet video advertisements (videos are displayed relatedwith their products on internet). Technology is changing dynamically and in when product can beformatted as per requirement of individual then it will attract large number of individuals ( Bakerand Saren, 2016). As per current scenario focus is just on certain group but in future focus must be
on single individual. Marketing Process: Process in which opportunities present within market are analysed,target market is selected, market mix is developed and managing marketing efforts refer tomarketing process. Steps which are involved in marketing process are described below:Analysis of opportunities within Market:Thorough analysis of situation to analyseopportunities availed within market. These opportunities include wants and needs ofcustomers which are not effectively satisfied by competitors within market. For long runsuccess it is essential to identify opportunities which would enhance their performance.McDonald's has identified potential factors by which they can enhance their business.McDonald's has used marketing information system by which they gained information aboutmarket ( Boschetti and Massaron, 2015). They also conducted research within market tounderstand general trends, competitors and customers. After this McDonald's split thecollected information into segments and these segments are based on certain factors likelocation, age etc. Potential of each segment is checked to analyse their advantage anddisadvantage. Then target market segment is selected.Selection of target segment:Target customers are selected, for this target markets areanalysed. An organisation cannot satisfy needs of complete market, for this segments ofmarket are chosen. McDonald's has performed market segmentation, market targeting andmarket positioning. In marketing segmentation, whole market is divided into differentsegments of customers depending on their needs and characteristics. Market targetinginvolves targeted segments. Segments are selected in such a way that they will enhanceoverall productivity of organisation. McDonald's has focussed on adults as they are morekeen towards fast food. In market positioning, products are positioned within minds ofcustomers. For this McDonald's has created clear perception of products in customers.Development of marketing mix:To gain certain response from customers or target segmentmarket mix is designed which include product, price, place and promotion ( Brady, 2014).Marketing mix of McDonald's provides detail about products which they are offering, pricesof specific product, place includes availability of product within market and promotionincludes promotional events which are conducted to promote specific product.Management of marketing efforts:Marketing mix is created for target segment. Fourfunctions which are used by McDonald's in managing marketing efforts. They are- analysisof market which includes internal and external opportunities and threats,marketing planningincludes strategies or plans to accomplish objectives,marketing implementation includesstrategies implemented to achieve objectiswot ofves and marketing control includesperformance of strategies, plans and their evaluation.
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