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Marketing Essentials Plan for McDonald's

   

Added on  2020-10-22

13 Pages5061 Words229 Views
Marketing Essentials
Marketing Essentials Plan for McDonald's_1
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.................................................................................................................................................8P3 Different ways in which organisations apply the marketing mix to the marketing planning process to achieve business objectives............................................................................................8TASK 3...............................................................................................................................................10P4 Marketing plan for McDonald's................................................................................................10CONCLUSION..................................................................................................................................12REFERENCES...................................................................................................................................13
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INTRODUCTIONMarketing is an activity, which is used by organisations for making good relationship withtheir customers, by providing ample number of products and services, which can fulfil the needs theof them. This all will lead the organisation to attain their goals and objectives, so that they can growand develop at market place. Along with this, marketing is a process which is made up byfunctioning of different elements like, needs and requirement of customers, study of market,exchanging of products and services, implementation of strategies for customers and competitors.For completing this report, organisation which has been chosen is McDonald's, which is one of thebiggest fast food chain of the world. It is an American organisation which was founded in 1940 byRichard and Maurice McDonald's (Baker and Magnini, 2016). In this report, a study will take placeon the major roles and responsibilities which marketing functions of them use to play, along withrelationship of it with another organisational operations. Also, a comparison will take place onmarketing mix of McDonald's with their competitor like Burger King. In the last of this report, amarketing plan will get designed for new product which McDonald's is going to launch.TASK 1P1 Key roles and responsibilities of the marketing function.Marketing : Marketing is a method which is used by organisations, so that they can provideample number of products and services produced by them for fulfilling the needs and requirementsof customers. For this, they use to implement several strategies for promotions, advertisements,distribution, and costing of those products.Concept of marketing : Marketing is a concept which is made up by assembling amplenumber of operations and by implementing several number of strategies, so that different functionsof organisation get performed for fulfilling the needs of their customers and also help in increasingprofitability of them (Baker and Saren, 2016). This is made with combination of differentoperations like, production (customers at market place use to prefer those products which are notvery much expensive and also easily available), product (products which are very much unique andare able to fulfil needs of customers are very much popular among consumers), selling (productswhich use to follow high promotional activities are very much popular among market place),marketing (products which can fulfil the needs and requirements of customers are very famous),societal marketing (products according to customer needs at specific market place are very muchpopular).Current and future trend : Study of trends are very much important for an organisation, as
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this help them in gaining information about change in preference and behaviour of customerstowards some products. This will help organisation in attaining knowledge that what they have toproduce and also what changes they have to make in their products, so that they can fulfil thechanging needs of their customers. Along with this, by making study of trends, it become verymuch easy for them to identify that which type of products will help them in attracting amplenumber of customers (Boschetti and Massaron, 2015). The method of marketing which McDonald'scan use for promoting their products are market place is social media marketing. In this, they canuse Facebook, Instagram, Whatsapp and other social media network for promoting and advertisingtheir products to customers. Another marketing approach which they can use is retargetingcampaigns in which they have to target segment of society for which they are producing productsand services. Also they can use text message and emails for promoting their products, as in this theyuse to send emails and text to targeted customers, so that they can provide information about theproducts and service offered to them along with some special offer. Along with this, technology isvery dynamic in nature and use to change with rapid speed. Therefore it become very muchimportant for them to keep updating their technologies, so that their performance get improved.Along with this, it help them in attracting ample number of customers towards the products andservices offered by them.Marketing process : There are ample number of factors which are associated with marketingprocess and due to which organisations use marketing process in their functioning. The functionwhich marketing use to play in organisation is, it help in identifying different opportunities artmarket place for them, also help in selecting targeted segment at market place, also help inmanaging different efforts made by marketing, and lead to developing marketing mix (Brady,2014). Different steps which are analysed by the use of marketing are as follow :-Analysis of opportunities within market : For an organisation, it is very much essential forthem to analyse different opportunities which market is offering them to grow and developtheir business. These can be needs and demands of customers, and also change in trends atmarket place. McDonald's can analyse these factors for gaining information about theopportunities which are available at market place and also which they can grab for theirgrowth and development. This all help them in increasing their sustainability at market placefor long term period by offering those products that can fulfil the need of their customers.Selection of targeted segment : As for an organisation, it is not very much easy for them toto fulfil the needs of each and every segment of society, therefore, form them it is very muchimportant to select a special segment for which they are offering their products and services.As, McDonald's is fast food chain, that's why the segment which is chosen by them for their
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