Marketing Essentials - McDonald and KFC
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Added on 2020-09-17
Marketing Essentials - McDonald and KFC
Added on 2020-09-17
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MARKETING ESSENTIALS
Table of ContentsINTRODUCTION...........................................................................................................................1LO1..................................................................................................................................................1Overview of marketing processes...............................................................................................1Role and Responsibility..............................................................................................................2Importance of marketing.............................................................................................................2Effective interrelation between different functional departments...............................................3LO2..................................................................................................................................................3McDonald Profile........................................................................................................................3KFC Profile.................................................................................................................................4Element of marketing mix of McDonald....................................................................................4KFC marketing mix.....................................................................................................................6MARKETING PLAN......................................................................................................................8Executive summary.....................................................................................................................8Company overview.....................................................................................................................8PESTLE Analysis........................................................................................................................8Value chain..................................................................................................................................9SWOT analysis of McDonald...................................................................................................10Objectives..................................................................................................................................10Strategy.....................................................................................................................................10Segmentation, targeting and positioning...................................................................................11Tactics and Actions...................................................................................................................11Budgets......................................................................................................................................11Control.......................................................................................................................................11CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13
Illustration IndexIllustration 1: Marketing Mix...........................................................................................................4
INTRODUCTIONMarketing is a process in which products are buy and sell by using effective promotionalstrategies. It includes all those methods which help the organisation to attract the large number ofpeople with the use of advertisement, newspaper, television etc. The present report analysis themarketing strategy which are adopted by the McDonald company. It explains the role andresponsibilities which is related to the marketing functions. By making comparison betweenMcDonald and KFC as per the marketing mix, it helps to identify the planning function which isuseful for the company's growth. Furthermore, by framing a marketing plan, organisation cananalysis the basis core concept which is useful for the firm (Andrée and Hansson, 2013).LO1Overview of marketing processesMarketing is a process of exchanging the product and services among the buyers andsellers. It includes various activities of business like advertising, distribution, communication,presentation etc. In the present trend of marketing, its main aim is to discover the actualrequirement of the customers and satisfy their needs related to the product and services.McDonald is one of the famous food retail business enterprise which deals with the variousdelicious food products.Company needs to consider in developing innovative and creative product and serviceswhich satisfy customer needs. In the context of McDonald, its aim is to deliver the high qualityof food product to customer and earn maximum customer attraction. In order to attain thisobjective, it has to understand the following process of marketing- Marketing Research- In this first stage, McDonald required to analyse the actual marketcondition and discover the needs and wants of customer about the commodity.Strategy- After analysing the actual needs of the customer, in the next stage companydevelops the strategy to satisfy the needs and wants of customers.Budget- While strategy is effectively developed then in the next stage, McDonald willlook toward the budget and financial resources which need in the process (Stephen Neville,2014).Tactics- In this stage, appropriate action can take by company to implement the strategy.1
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