Marketing Essentials for Business Success

This assignment report discusses the essential aspects of marketing and its significance in achieving organisational goals. It covers market planning, product development, pricing strategies, promotion, and control, highlighting the importance of these functions for business success. The report also touches on the need for multinational organisations like McDonald's to prepare effective market plans for launching new products.

Marketing Essentials

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1 : Concept of marketing, including current and future trends...................................................1
2: Marketing process...................................................................................................................3
3: Role and responsibilities of a marketing manager in McDonald...........................................3
4: Marketing influences and interrelates with other functional departments..............................4
5: Value and importance of the marketing role...........................................................................5
6. Significance of having effective interrelationships between different departments...............5
7: Comparison of two companies in the same sector applies marketing mix to achieve
business objectives......................................................................................................................6
8: Produce and evaluate a basic marketing plan.........................................................................9
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
In today’s scenario, marketing is basic requirement of an organisation which drives them
to maintain healthy relations with the targeted people through recognising their needs and
requirements by conducting market research. It assist organisation to make suitable actions and
effective marketing plan to influence buying behaviour of people in favour of company’s
offerings. It performs various functions which include promotion, market research, and fixation
of price and selection of suitable distribution channels. The present assignment report is based on
McDonald which is one of the largest company of United States. It was established in the year
1940 and has engaged in offering wide varieties of food items such as Hamburgers, Chicken
nuggets, French fries etc. The project includes marketing concept along with the roles and
responsibilities of marketing manager. The project also discusses the interrelation of marketing
department with other departments, marketing mix of two organisations operating in similar
sector and marketing plan.
TASK 1
1 : Concept of marketing, including current and future trends
Marketing is an activity which starts with identification of needs and requirements and
ends with the deliver of products to the final customers. Through marketing function, an
organisation enables to reach targeted people and meet their requirements in the long run.
McDonald is well established brand which operates its functions in many countries such as UK,
India etc. It faces huge competitions in market due to engaging in food sector (Ahrens, 2011).
For this, marketing manager develops marketing concept over the period of time so as to achieve
huge stability in market for longer period of time.
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Figure 1:Marketing Concepts
(Source: Bhasin. H, 2018)
Production concept: It is the concept which is connected with the operations of an
organisation. Such concept directs operation department to utilise limited resources and control
wastage so as to make positive impact on the overall business cost and profitability. Nowadays
customers are more prices sensitive due to which any increment changes in price of products
may shift the customers to their rivals.
Product concept: Customers easily attracts towards quality according to the market survey
due to which an organisation must required to offer quality products which indirectly makes
huge positive impact on their existing customer base. It help in competing with their rivals
through offering better quality from their at an affordable price.
Selling concept: It is another effective concept which makes either positive or negative
impact on the revenue of company. The management of McDonald should select best
distribution method to supply its quality products to the customers within limited period of time.
It helps them in achieving huge market share and profitability.
Consumer concept: Under this concept, marketing is giving customers as main priority.
For this, marketing manager put maximum efforts in maximising the satisfaction level of
customers through offering them quality products and after that collect feedbacks on the same
which creates better relation with them for longer period of time (Bird, 2012).
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Marketing concept: This is another marketing concept under which marketing strategies
has been implemented to increase brand image of company in market. Marketing strategies
includes several activities such as adoption of marketing tools such as TV advertisement, social
media, market research etc. It mainly focuses on conveying information about company’s
offerings along with their benefits to the targeted people.
2: Marketing process
A firm adopted marketing process in order to analyse the impact of influencing factors
exist in business environment so that the strengths and weaknesses can be identified and
developed through making a suitable strategies and plans. Marketing process consists of
situational analysis in which McDonald may adopt porter five forces model or can conduct
PESTLE Analysis to analyse the external environment. After that, marketing strategy has been
formulated with the help of STP. In addition with this, marketing mix is developed by the
management through utilising promotional activities, advertising, prices etc. At last
implementation and monitoring is done in order to identify whether all the actions has been
executed properly and if not then what are the deviations so that corrective measures can be
taken.
3: Role and responsibilities of a marketing manager in McDonald
Different roles performed by the Marketing department of McDonald are mentioned as
under:
Customer satisfaction: This is the prime motive of marketing department to achieve as
all the marketing plans and activities are executed to achieve the same with a hope of getting
maximum advantages to company in return. For this, marketing manager mainly tried to
recognise their needs and preferences and fulfil them accordingly with the help of other
departments. Through market research, the demands of McDonald is identified which directs
them to deliver the same within limited period of time. It makes positive impact on the sales of
company.
Monitoring and managing social media: At present times, every organisation invests
lots of money in adoption of digital technology so as to reach its targeted people and identify
their needs and requirements. In order to compete with the rivals such as Burger King,
McDonald need to use online platforms to market their products such as social media, mobile
technology etc. It provides an opportunity to company to communicate with the targeted people
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and collecting feedbacks related to their offerings so that needed changes can be implemented
within shorter period of time (Cabrera and Williams, 2014).
Track Trends and monitor competition: There are huge numbers of rivals who provides
substitute products of McDonald offerings which may affect their sales and revenue as well. For
this, marketing manager need t monitor the strategies and operation of other brands so as to
achieve competitive advantage.
Manage marketing budget: Business environment are complex in nature which can be
changes on frequent basis due to having various influencing factors. Marketing department
should analyse the market situations through preparing an effective budget for market survey. It
requires huge amount of funds due to which the marketing manager is held liable to raise funds
so as to reduce the risk of influencing factors in more effective manner.
Defining strategic marketing plan: To achieve growth and success in market among their
rivals, it is necessary for the marketing manager to prepare an effective marketing strategies and
plan which contains all the details of company including mission, vision, objectives, marketing
mix, SWOT analysis etc. It gives proper guidance to the employees to perform in right direction
so that maximum efforts can be gained by company in accomplishing their desired goals and
objectives (Campbell and Martin, 2015).
4: Marketing influences and interrelates with other functional departments
McDonald’s is a well-established organisation operated at global level which deals in
providing wide range of food items and beverages. It gets adequate support from various
departments in serving millions of people across worldwide. To perform various functions,
marketing department took help from other departments which are briefly explained as under:
Marketing versus production: Marketing division is held responsible to identify market
needs and requirements which can be possible through conducting market survey or research.
The information collected from the market research conveys to the production department so as
to give them an appropriate direction to produce food products which are nowadays more in
demand. Therefore, both are interrelated with each other for performing their allotted functions
which in results support organisation in achieving its pre-determine goals and objectives within
limited time period.
Marketing versus finance: To conduct market research and adoption of an effective
marketing tools, marketing division required adequate amount of funds on the basis of which
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marketing budget has been formed. For this, marketing division approaches to finance
department for supporting them financial help with a promise of providing maximum outcome in
return. Therefore, both departments are interrelating with each other and give mutual support to
achievement of organisational goals and objectives ((Cleverley, 2017).
Marketing versus sales: It is clearly observed that sales of company mainly depend on the
marketing activities performed by marketing division. As marketing department tried to
influence buying behaviour of targeted customers in favour of company’s offerings through
adopting various promotional tools such as TV Advertisement, Print media, Hiring celebrities
etc. which can bring huge impact on the overall sales of company in positive way. Therefore,
both are very much interrelated with each other performing altogether to achieve huge
profitability of company.
5: Value and importance of the marketing role
Marketing support the organisations to achieve huge market share and influence their
buying behaviour to by company's products. Importance of market is McDonald is defined as
under:
Create the demand of product: Marketing assist targeted people to acquire knowledge
about the developed products offered by company into market which influences their buying
behaviour towards the products. Thus, it creates the demand and revenue of company.
To increase the goodwill of the company: Marketing promotes the products and services
of company into market using various marketing tools and techniques such as TV advertisement,
social media marketing etc. which increases the goodwill of company.
6. Significance of having effective interrelationships between different departments
Every organisation requires abundant support from their various departments if they
contribute together to achieve it. Each department perform different functions instead of that
required support from other departments for better functioning. For example, marketing or
production department requires support from finance department in terms of getting adequate
amount of funds so as that execution of activities will be done more effectively. This will
maintain healthy relationship among various departments which brings long term advantages to
company.
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7: Comparison of two companies in the same sector applies marketing mix to achieve business
objectives
Marketing Mix: It is considered as basic model consisting 7 P’s of marketing which
includes product, price, place, promotion, process, people and physical evidence. It is used by
most of the companies with an aim of achieving marketing objectives and targets. The basic
purpose of adopting marketing mix is to aware the people about the products and services of an
organisation so that they can influence towards their offerings which in results generates huge
sales and revenue (Daniel, 2011). McDonald’s is multinational food company having its
operations across worldwide. Due to this, the company has conducted marketing mix which
assists them in capturing large market share and brings them ahead in the competition among
their rivals. Here are the marketing mix of McDonald’s and Burger King in order to understand
their marketing strategies.
McDonald's Burger king
 Product- It is related with offering by
an organisation. McDonald's offers
various fast food products with
different segments such as vegetarian,
Non vegetarian, beverages and Frozen
deserts etc. management of McDonald's
gave emphasis on the menu card which
is modified as per requirements of
customers. Their research team helps in
determination of actual market trends
which assists in getting customer's
requirements. Customer's needs and
demands are changes continuously over
the period of time. To meet out the
needs of the different segment of
customers. It is essentially required to
innovate new products with replacing
old ones. Management of McDonald's
 Product- The Burger king covers
different type of products for different
ages of people. The items which are
offered by this restaurant includes
burgers, beverages, milkshakes etc.
Burger king provides product in both
veg and non veg category. They also
started providing salad and veggies for
diet conscious customers.
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understands that popularity of their
products in menu will change over the
time due to this, their ability will get
impact to generate profits at different
time
 Price- It is related with amount which is
charged on the offering of a product by
the organisation. McDonald's charge
accurate price which satisfy the
different needs of customers persists in
various segments. For e.g. if low price
will charged for their offering then
customer will create perception for
quality compromised. It is essential for
McDonald's to analyse the value of
their brand in market it will assists
them in deciding the price of their
products. For this, Differentiation
pricing policy is adopted by
McDonald's for their different type of
offerings to tap middle section of
society
 Price – the strategy which is followed
by Burger king for pricing of their
offering is market oriented. For giving
tough competition to McDonald's they
have started providing quality products
with affordable price to the customers.
 Promotion- this aspects covers all type
of methods which are used by the
organisation to meet with requirements
of customers. The different type of
promotional methods includes
advertisement, T.V, radio, magazines
etc. Some other methods are used such
as direct mail and loyalty schemes.
 Promotion – Burger king uses two
methods of marketing such as social
media and advertisement through print
media. They also takes support of
different sponsors which assists them in
spreading their product at the reach of
their customers. Furthermore, another
promotional techniques are used by
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These methods are used by
McDonald's to get profitable results.
For e.g. T.V advertisement helps the
organisation with giving knowledge to
the customers about food items and
press advertisement will help in
providing details of products. In present
scenario, they gave focus on children
due to this, they provided small toys to
them along with meal.
them which is providing discount to
online orders due to this they increased
the number of customers
 Place- It is related with location where
customers get the products of
organisation. In present scenario
McDonald's outlets are spread out in
main cities which are easily find out by
end customers. Drive in and Drive out
options are also provided by
McDonald's which increases their
number of customers.
 Place- Burger king's supply chain
network is very strong. Charge of
appointing suppliers has taken over by
quality control department of Burger
King to ensure best is provided to their
customers. Their market presence is
higher in western regions along with
physical stores they develop their own
mobile application for attracting new
customers.
 People- The way in which McDonald's
treat their customers and employees in
unique. Proper dress code is followed
by employees. More emphasis is
provided on attainment of customer
friendly behaviour. Priority is given on
fast delivery of food items and
satisfaction of needs of customers.
 People – Management of Burger king
provides emphasis on both customer's
and employees. They are very keen
towards their employee which shows
from the result that customer
satisfaction ratio of burger king is
highest in comparison to other outlets.
 Process- It is related with procedure
which defines the method of delivering
 Process: The process which is used by
Burger king to operate their functions is
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the product by the organisation.
McDonald's modified their cooking
methods over the period of time. New
technologies are adopted by the
organisation to continue the working of
food processing along with packaging
and distribution of food items. A big
amount is invested in research activities
in order to improves quality of
working.
designed internationally by experts.
This will helps the organisation to
maintain same taste and work culture in
all outlets operative in more than 71
countries.
 Physical evidence: McDonald's having
good physical evidence which aid in
influencing the mind of consumer. The
basic aspects which depicts physical
evidence perspective of McDonald's
includes speed of service, cleanliness,
hygiene etc. It is family restaurant, so
arrangements are made according to
their requirements. As their targeted
segment is children's, they provide
happy meal toys to attract them
 Physical evidence: Burger king has
presence almost in most of the
developed nations. In 71 different
countries their outlet is established in
15000 locations. Now, they start
expanding their operations in some
developing countries also like India.
This will be considered as huge
opportunity for Burger King as trend
of fast food continuously increasing in
developing nations like India.
8: Produce and evaluate a basic marketing plan
Marketing plan is a valuable decision of marketing department which help organisation in
achieving desired goals and objectives within pre-determines time period. Marketing plan is a
documentation which contains all the details which required to be achieved by company such as
mission, vision, objectives, SWOT analysis etc.
Marketing plan of McDonald’s
Introduction of company: McDonald is well-known fast food company which deals in
providing number of food items such as French fries, hamburgers, chicken products, soft drinks
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etc. It has annually generated approx. 24.622 billion pound and has owned more than 3000 food
outlets located in more than 100 countries. At present, McDonald’s has decided to launch an oil
free fries for health conscious people (Dudu, and Agwu, 2014).
Vision: “To become a progressive and modern burger organisation to provide maximum
customer experience”
Mission: “To become a favourite place of individuals where they can eat and drink”.
Marketing objective of McDonald’s:
SMART Objectives has been followed as tactics by McDonald in order to achieve its
objectives: Specific: McDonald’s has objective to influence buying behaviour of heath conscious
customers in order to enhance profits by 10% and expand sales of products by 20% in
future period of time. Measurable: Changes in sales of first month can help in measuring future outcomes. Achievable: Such objectives will be achieving with the greatest efforts of employees. Relevancy: Achievement of objectives directly makes positive impact on the sales and
brand image of McDonald’s. Time Bound: McDonald’s has allotted 6 months as time period to achieve such
marketing objective.
STP: It is the concept of Segmentation, targeting and positioning which are determine by
company to identify the targeted market and on the basis of which making an effective
strategies.
Segmentation: Under this, population is divided by McDonald’s on the basis of three
segmentation which includes demographic, behavioural and psychographic.
Targeting: Under this, company targeted customers who are more preferred to buy
company’s offerings. McDonald’s has targeting teenagers due to receiving more demand of its
products.
Positioning: McDonald’s has established a strong brand position in market through offering
quality product at effective prices (Eslinger, 2014).
SWOT Analysis of McDonald’s
Strengths
 Operations at global level
Weakness
 Declining market share.
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 Attained Strong brand image and
reputation
 McDonald’s successive approaches
 Specialised training to managers
 Slow income growth and revenue.
 Unhealthy food image
 High employee turnover
Opportunities
 Expansion at international level.
 Joint ventures with retailers
 Growth of fast food sector.
 Strengthen its value proposition by
encourage individuals to visit.
Threats
 Changing demographics
 Public health crisis.
 High rivalry
 Fluctuation takes place in exchange
rates.
Marketing strategy
In order to achieve desired aims and objectives with pre-determined time period, it is
important for McDonald to develop marketing activities. In the context with McDonald,
relationship marketing is better option which aids in displaying a better bond of firm.
Marketing Budget:
Marketing budget
Particulars 1st year 2nd year 3rd year 4th year 5th year
Initial money 8000 11000 13000 11000 11000
Investment 4000 19000 26000 36000 19000
Total 12000 30000 39000 47000 30000
Marketing outlay
Promotion 13000 5000 10000 11000 5000
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sales publicity 5000 5000 5000 5000 5000
Direct selling 5000 16000 6000 5000 5000
Total 23000 26000 21000 21000 15000
Monitoring and control:
This aspect indicated the different measures which must be applied by the marketing
manage in order to receive expected outcomes after implementing of marketing plans.
Monitoring the activities of employees ensures company in receiving maximum advantages in
near future. After which controlling over the activities should be done which assist employees in
minimising the wastage of resources as well as identifying and removing the gap between
standard and actual performance and enhance effectiveness of business activities (5 Marketing
Essentials for Your Business to Appeal to Millennials, 2018).
CONCLUSION
It has been concluded from the above project report that marketing is an essential aspect
of an organisation which brings lots of advantages to company in form of increasing brand
image, sales, customer base etc. It performs important functions with the support of other
departments for the achievement of organisational goals and objectives within pre-determined
time period. It also required for multinational organisations such as McDonald’s to prepare an
effective market plan so as to achieve success in launching of new product.
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REFERENCES
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citizenship, and the possibilities of ethical consumption. Critical Sociology. 40(3).
pp.349-367.
Campbell, R. and Martin, C., 2015. Media essentials: A brief introduction. Macmillan Higher
Education.
Cleverley, W. O., 2017. Essentials of health care finance. Jones & Bartlett Learning.
Daniel, J., 2011. Sampling essentials: Practical guidelines for making sampling choices. Sage.
Dudu, O. F. and Agwu, M. E., 2014. A review of the effect of pricing strategies on the purchase
of consumer goods. International Journal of Research in Management, Science &
Technology. 2(2). pp.88-102.
Eslinger, T., 2014. Mobile Magic: The Saatchi and Saatchi Guide to Mobile Marketing and
Design. John Wiley & Sons.
Ionitã, D., 2012. Entrepreneurial marketing: a new approach for challenging times. Management
& Marketing. 7(1). p.131.
Langer, D. A. and Heil, O. P., 2015. Luxury Essentials: Essential Insights and Strategies to
Manage Luxury Products. Center for Research on Luxury, University of Mainz
Martin, C., Campbell, R. and Harmsen, S., 2014. Media essentials: A brief introduction.
Bedford/St. Martin's.
Wieser, P., 2012. Essentials of Logistics and Management, The Global Supply Chain (No. EPFL-
BOOK-197496). EPFL Press.
Online
5 Marketing Essentials for Your Business to Appeal to Millennials. 2018. [Online]. Available
through <https://www.entrepreneur.com/article/286545>.
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