Marketing Essentials Assignment : McDonald
This is a broad-based unit which gives learners the opportunity applies the key principles of marketing.
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Added on 2020-09-08
Marketing Essentials Assignment : McDonald
This is a broad-based unit which gives learners the opportunity applies the key principles of marketing.
Added on 2020-09-08
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Marketing essentials
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Asses key roles and responsibilities of marketing department .............................................1M1 Important roles and responsibilities regarding marketing environment...............................2D1 Critically evaluate elements of marketing and hoe these are related with otherdepartments. ...............................................................................................................................3Task 2...............................................................................................................................................3P2 Ways in which roles and responsibilities contribute to wider organisational context...........3M2...............................................................................................................................................5D2 ...............................................................................................................................................5Task 3 ..............................................................................................................................................6P3 Compare ways in which marketing mix can be applied on planning....................................6M3 ..............................................................................................................................................8Task 4 ..............................................................................................................................................8P4 Evaluate basic marketing plan for an organisation................................................................8M4 ............................................................................................................................................10CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
INTRODUCTIONMarketing refers to the process which starts from manufacturing stage and ends with saleof product. It includes four elements- product, price, place and promotion. Environmentalanalysis is important task in this scenario which includes identifying macro and micro factors ofbusiness. This report is about Marketing essentials which includes solutions for profitable sale.McDonald's is the company chosen for this study. It is American fast food restaurant chainwhich is found in 1940 . Headquarter of this company is located in Chicago. This company isamongst world's largest restaurant chains as it is serving around 69 million customers in over 100countries through approx 36,900 outlets. Main objectives of this study is to identify elements ofmarketing mix to meet needs of target customers. It will also assess various marketing tools tosurvive in this competitive world. Product life cycle, new product development, pricingstrategies and distribution channels will discussed in this report. It will also asses the ways todevelop in global market. TASK 1P1 Asses key roles and responsibilities of marketing department Marketing functions includes activities that are needed to satisfy customer's needs anddemands in effective manner. It starts with identifying their demands and complete this byproviding them product along with high level of satisfaction (Dibb, and Simkin, 2013.). Some ofthe basic marketing functions are buying, storing, packaging, standardizing, grading etc.Important functions in context with M,c Donald are as follows- Strategy formulation- First and important role of this department is to form strategies toapply marketing mix effectively which will help in increasing market share and consumer . Italso includes techniques and steps to be involved in overall marketing process. Research- Another major responsibility is related with market research to identifypotential buyers and opportunities available. Information and data is collected through surveyswhich assists in effective decision making (Wirtz,2012.). It also helps in identifying strengthsand weaknesses marketing strategies of organisation and facilitates in taking appropriate steps toovercome weak factors. This is also essential to know what consumers actually demands andthey will be satisfied.
Brand value- Marketing functions also plays important role in creating brand valuethrough creative and effective advertising strategies and bringing consumer loyalty towardsproduct. Distribution- This is major role of marketing functions. It includes forming distributionstrategies. This is focussed towards adopting best channel to distribute products and make iteasily available to customers. There are various alternatives in this scenario, so it is responsibilityof marketing department to choose best one. Managing budget- Every activity in these functions needs some amount of money to beinvested, for this marketing budget is prepared (Pike, 2015). It is responsibility of thisdepartment to to use this fund in appropriate and efficient way by allocating proper fund invarious activities without wasting it. Innovation and strategic planning- Another major task of this department is to bringinnovative techniques for advertising and promotion so that more consumers will be attracted. Itis also responsible for aligning marketing strategies with company's ultimate objectives andmissions. Pricing – Making pricing strategies is another important role of marketing functions. Itincludes pricing of a product. This is done through various methods and sometimes from marketdemand. It is an important activity as price is the value for which product will be sell. Digital marketing- It is emerging trend in context of marketing. This includes promotingproduct and services through internet platforms (Lamb, Hair and McDaniel, 2011). Marketingdepartment is responsible for making effective plans and strategies for this to make brandawareness at wider range. M1 Important roles and responsibilities regarding marketing environmentMarketing environment is related with macro and micro factors that affects decisionsdirectly and indirectly. It is essential to coordinate with these internal and external issues to makeeffective strategies for promotion, production and distribution. Key roles and responsibilities inthis scenario are as follows- Consumer behaviour- It is essential to determine consumer behaviour to analyse theirdemands, tastes and preferences. This study helps in bringing chances in products features as peruser's requirements.
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