Marketing Essentials Decision-Making Process

Added on - Dec 2020

Trusted by 2+ million users,
1000+ happy students everyday
Showing pages 1 to 4 of 12 pages
Marketing Essentials
Contents
INTRODUCTION......................................................................................................3
TASK 1...................................................................................................................3
P1 Key roles and responsibilities of the marketing function...............................3
P2 Explain how roles and responsibilities of marketing relate to the wider
organizational context........................................................................................5
TASK 2...................................................................................................................6
P3 Application of marketing mix to achieve business objectives along with
comparison with competitor...............................................................................6
TASK 3...................................................................................................................9
P4 Formulation of basic marketing plan for an organisation..............................9
CONCLUSION.......................................................................................................11
REFERENCES........................................................................................................12
INTRODUCTION
Marketing is valuable of decision-making process of management which assist them in
reaching their products and services to the large number of customers. It directly impact the
sales figure and revenue of company therefore it is important for marketing department of an
organisation to perform its several marketing functions such as conducting research, fixation
of price and selection of an effective distribution channels. It facilitates companies to identify
the market needs and requirements which make them easy to meet within shorter period of
time. The present assignment report is based on McDonald’s which is an American fast food
company engaged in offering wide range of fast food products and beverages including
Hamburgers, Chicken nuggets, French fries, soft drinks etc. It was established in the 1940
and now becomes one of the largest fast food chain restaurant in the world. The project
discusses the marketing functions, marketing mix of two rivals companies, interrelation of
marketing department to others departments and suitable marketing plan of McDonald.
TASK 1
P1 Key roles and responsibilities of the marketing function
Marketing is considered as a valuable activity which enables organisation in achieving
strong brand image and capturing large market share by fulfilling the needs and requirements
of targeted people with more effective and efficient way. Marketing provides an opportunity
to an organisation to communicate their targeted people and maintain better relations with
them in order to achieve their loyalty for longer time period. McDonald’s is currently having
strong brand image and operated in different nations(Berkowitz, 2016).It is fully supported
by its marketing department who bring them valuable information about customers’ actual
needs and demands. It enables company to achieve huge sales and revenue. The marketing
concept is developed over the period of time which is further understood as under:
Production concept:It is connected with the roles and responsibilities of production
team which help company to meet market needs and requirements for long run. For this, it is
important for production team to monitor and control the usage of resources in order to make
them capable of offering quality products at affordable prices. A the customers are price
sensitive due to which high prices of products largely impact on their buying behaviour
which in results looses loyal customers.
Product concept:Customers demands high quality products from company in order
to maintain their health. Therefore, it must require for McDonald’s to offer quality and heath
nutrition food products so that the buying behaviour of targeted people will not be shifted to
their substitute products(Bird, 2012).
Selling concept:Under this concept, selection of distribution method are made which
assist McDonald’s to reach their food products to maximum number of customer. The
customers prefer to visits at such store to buy food products which are located nearby to them
therefore it is important for McDonald’s to open their outlets in maximum number of
locations where their demands of products are more so as to make easy for users to buy their
products easily and increases its sales.
Consumer concept:According to this concept, the needs and requirements of
customers are taken on priority due to which the company tried to give maximum possible
effortsinmaximisingtheirsatisfactionlevelthroughofferingqualityproductsand
communicating the on regular basis using various modes such as social media, feedback form
etc.
Marketing concept:Under this approach, McDonald’s should be directed towards
adoption of marketing tools and techniques which promotes their brand and benefits of their
offerings. Any discount offers or new food products can be easily communicated in market
through using marketing strategies which h makes direct impact on their brand image and
sustainability in market.
Different roles performed by the Marketing department of McDonald’s are as follows:
Customer satisfaction:Customers are the one who decide the growth and success of
company due to which it is essential for McDonald’s to put their maximum efforts in
maximising satisfaction level of targeted people in order to achieve loyalty for longer period
of time. For this, it should required to conduct market research so as to identify the taste and
preferences of customers which makes easy for company to provide offerings accordingly.
Monitoring and managing social media:At present, large number of people are using
digital platform to acquire knowledge about the new offerings in the market. Therefore, to
compete with its rivals such as Burger King, McDonald’s should use such media marketing
in order to influence the interest and buying behaviour of customers in favourable of
company’s offerings. It also allows company to resolve all queries related with their products
to the customers by communicating them by using such tool.
Desklib Logo
You are reading a preview
Upload your documents to download or

Become a Desklib member to get access