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Marketing Essentials Assignment- McDonald’s

   

Added on  2021-01-02

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MARKETING ESSENTIALS
Marketing Essentials Assignment- McDonald’s_1
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK...............................................................................................................................................11.Concept of marketing with current and future trends...............................................................12.Overview of different marketing process.................................................................................13.Roles and Responsibilities of marketing manager....................................................................24.interrelation of marketing with other functional department of McDonald's...........................25.importance of marketing role....................................................................................................36.significance of having effective interrelation between marketing and other functionaldepartments..................................................................................................................................37. comparison of marketing mix element....................................................................................48. Marketing plan for McDonald's...........................................................................................10CONCLSUION..............................................................................................................................13REFERENCES..............................................................................................................................14
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INTRODUCTIONMarketing is essential element that supports in raising demand of products and attractingnew consumers towards the brand. Present study is based on McDonald’s which is amultinational firm and offers wide range of food products to customers. Current assignment willexplain concept of marketing and will describe future or current trends. Furthermore, it willcompare marketing mix of McDonald’s with Dominos. In addition, study will prepare marketingplan for the selected enterprise.TASK 1.Concept of marketing with current and future trendsMarketing is the process of exchanging values to others and creating positive image in themind of consumers. It can also have defined as it is the management process that supports inidentifying and satisfying needs of buyers (What is marketing, 2018). There are 4 types ofmarketing concept.:-Product concept- This concept says that customer will prefer to buy the McDonald’sproduct. If it offered to them with the best quality and in reasonable price. Then marketer neednot to put many efforts to sell their product (Kotler and et.al., 2015).Selling concept - This concept focuses that, customers will buy the product only if theyare aggressively sold by the company that is the promotion of the product should be aggressivelydone.Marketing concept - This concept encourages McDonald to adopt a business techniqueand produce the quality goods which satisfy the customers’ needs and wants.Societal concept - This concept of McDonald focuses on satisfying the customer's wantand concerning long term for societal welfare. That is performing social responsibilities also.Some of current trend of marketing are advertisements on televisions, hoardings, socialmedia marketing, internet video ads, etc. and some future trends through which McDonald willable to advertise its product or use of any technology which help McDonald to sell their productin most cost-effective way (Shaw, 2016)2.Overview of different marketing processSOSTAC is marketing model which is used by McDonald to increase their sales and theywill be able to earn good amount of profit. It is basically 6 facets of marketing that is situation,Objective, strategies, tactics, action and control. These all are fundamental factors which used by
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McDonald to enhance sales (Tuten and Solomon, 2017). This is basically an extension of SWOTanalysis. SOSTAC explained as:Situation – Says about the company, in which situation they are now.Objective- Helps to achieve any goals or missions for McDonald and help organisationwork towards in direction of goal.Strategy - Says that which strategies McDonald should use to achieve objectivesActions - It is the tactics that is used by firm to met its objectives. By taking effectiveaction entity will be able to meet its marketing goal.And Control– To monitor the activities going in right direction and if not, then whatcorrective measures are to be taken by McDonald.3.Roles and Responsibilities of marketing managerMarketing manager has various roles and responsibilities which they have to perform forsmooth functioning of business.McDonald's marketing manager are responsible for developing and implementing marketingstrategies to promote their products and services with aiming of increasing the sales andwinning over their competitors (Bowie and et.al., 2016).McDonald's marketing manager are creating and defining their brand that describes thatwhat they are and their brand value.The another role played by marketing manager is monitored and managing social media andads which they publish, they are continuously observing what is being posted online.Managing communications – It is responsibility of marketing manager that to communicatewith employees and clarify the jobs and duties which they have to perform (Vellas, 2016).Market research helps to define the targets and different available opportunities which helpMcDonald's to identify how their products and services are being perceived in the market.4. Interrelation of marketing with other functional department of McDonald's.There is interrelation and influence of marketing department on the other functionaldepartment of McDonald's which is discussed in detail below:Human resource and marketing-HRM is function of organisation which helps in recruiting, selection, training anddevelopment. So marketing manager of McDonald's needs help of HR. to recruit appropriatemarketer or marketing assistant which help in marketing and promoting the goods produced by
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