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Marketing Essentials Assignment : McDonald company

   

Added on  2020-10-05

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MARKETING ESSENTIALS
Marketing Essentials Assignment : McDonald company_1
Table of ContentsINTRODUCTION...........................................................................................................................1LO 1.................................................................................................................................................1P1 Key roles and responsibilities of the marketing function in McDonald's..............................1P2 Roles and responsibilities of the marketing function in wider context .................................3LO 2.................................................................................................................................................7P3 Compare the ways in which different organisations apply the marketing mix to themarketing planning process to achieve business objectives.......................................................7LO 4..............................................................................................................................................11P4 Produce and evaluate a basic marketing plan for an organisation.......................................11CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13
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INTRODUCTIONMarketing is undertaking those activities or processes which creates the value of theproducts and services of an organisation and is the management of building and maintainingcustomers relationship. It is an important function of management within the company.Marketing function includes advertising, building brand image of the company, delivering theproducts' and services to the ultimate customers. In other words, it means making people awareof the offerings in the market.The present report has taken McDonald's and its marketing functions. McDonald's is anAmerican public company engaged in food industry, headquartered in Chicago with more than36000 retails shops in around 100 countries. The study will cover roles and responsibilities of themarketing, and how they relate to wider organisational context. It will also show the comparisonbetween the McDonald and its rivalry firm regarding their marketing mix strategies. Preparationand evaluation of marketing plan will be covered in the present project report.LO 1P1 Key roles and responsibilities of the marketing function in McDonald'sMarketing holds a great significance in the McDonald's as this function creates thecustomer base for the company, builds customer relationships, and brand image of the firm, itpromotes the business and helps in achieving organisational ultimate objective of customersatisfaction. The roles and responsibilities of marketing function are given below:Building brand image : McDonald's marketing department plays a key role in creating avalue of the products and services the company is offering in the market. It is the duty of themarketing manager to know the current scenario of the market, its position in the industry, whatthe competing firms are offerings, are their products of equivalent quality or better than itsproducts and services(Armstrong and et.al, 2015). The marketing manager then accordinglyprepares the different marketing strategies and tactics to adapt itself to the present demand of thesituation. Brand image after sometime becomes the focus of the marketing department aroundwhich the department formulate its strategies.Identifying the target customers:The marketing department identifies the particularniche in the market to whom the products and services will be offered. This decision is takenafter conducting feasible studies, market researches. A marketing manager will try its offerings in1
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the market segment to see the responses of the customers and then prepares the reports regardingthis and later on conclude the decision that whether the offerings are liked by the targetcustomers and it to be continue producing the products on large scale(Baker, 2014).Identifying the customers preferences : It is one of the crucial responsibility of themarketing department of McDonald's to know who are the customers and what they expect fromthe company. Food industry comes with the challenge of ever changing customers preferences, soknowing the customers and serving them according to their specifications will make them addictto the company's offerings and in increase in the overall efficiency of the companyandeventually will result in increase in profitability of McDonald's. The data regarding the customerstastes and preferences can be determined through various ways such as surveys, customer supportteam within the organisation, using social networks in the market to precisely know the conditionof the markets domestically and internationally.Coordination and cooperation : Coordination and cooperation with other departments inthe McDonald's and with other associated firms such as marketing agencies, digital mediapartners, print media partners is the responsibility of the marketing department. A company likeMcDonald's which is so giant and which is operating internationally is partnered with severalmedia partners, publishers, bloggers for an effective marketing of the company. The work andobjectives of these players should not override the overall mission of the company(Brady, 2014).Marketing department should also coordinate with the other department by providingthem the necessary information and be cooperative with others in the organisation for ensuringthe smooth and seamless flow of work throughout the company.Innovation:Innovation is the guarantor of success for an organisation. McDonald'smarketing department has always marked its importance and continuously apply innovation in itmarketing strategies. Since the customers' taste and preferences keeps on changes in reply ofwhich marketing manager uses innovation as tool for attracting more customers and satisfying theexisting ones. The manager not necessarily bring innovation in the entire offerings but sometimesminute changes in the advertising, promotions and production techniques works great for thecompany, as people want something new every time(De Mooij, 2018.).Preparation of marketing budgets and managing it : It is the duty of the marketingdepartment of the company to prepare the marketing budgets which will be the framework within2
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