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Marketing Essentials- McDonald's

   

Added on  2020-10-23

18 Pages4650 Words356 Views
MARKETING ESSENTIALS

Table of ContentsINTRODUCTION...........................................................................................................................11. Introduction to concept marketing inclusive of current and future trends..............................12. Overview of different marketing processes. ..........................................................................23. Description on the importance of role and responsibilities of marketing manager in contextof organisation. ...........................................................................................................................34. Explain how marketing influence and interrelate with the other functional department oforganisation. ...............................................................................................................................45. Define the value and importance of marketing role in the context of organization................46. Conclusion by determine significance of effective interrelation between different functionaldepartments.................................................................................................................................57. Effective comparison of chosen marketing planning process to other enterprise to achievebusiness objectives. ....................................................................................................................58. Evaluate the basic marketing plan for chosen enterprise........................................................9CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12

INTRODUCTIONMarketing can be defined as creating, promoting and delivering goods and services tocustomers and businesses. It is a process that termed out as science and art of exploring, creatingand delivering value to satisfy the wants of target market(Sheth and Sisodia, 2015). Thus,marketing is crucial that aids to identify unfulfilled needs and desires. It is kind of businessprocess that works as to creating relationship with and satisfying customers. Moreover,marketing is one of the foremost component of business management. The present assignment will look over business activities of McDonald's, it is the worldlargest restaurant chain and also best known for hamburgers, cheeseburgers and French fries. Furthermore, this assignment will cover the following topics as different marketprocesses, role and responsibilities of marketing manager and how it influences and interrelatewith other functional department. Lastly, marketing plan will be framed in relate withMcDonald's to launch Healthy diet products. 1. Introduction to concept marketing inclusive of current and future trends.The term marketing is a process that derived in which firm should analyse the needs andmake one effective rational decision in terms to beat a competitor in order to satisfying thoseneeds (Baser and Buchbauer, 2015). Thus, the current and future trends in marketing defined infollowing manner as- Production concept- It is one of the most fundamental marketing concept. Thus,managers of McDonald's puts their focus over getting high production efficiency, masscontribution and low cost. Customers intends to get interest in low prices and productavailability and to avail them in better quality aspect. The selling concept- By the use of better promotion and sales techniques the firm is ableto attract the number of customers. McDonald's is taking various initiatives to promoteits brand by adopting suitable marketing opportunities that leads to perform the activitiesin expertise mode. The marketing concept- Under this, the entity work as to select the approach that aidsto beat its competitors with help of producing quality products at reasonable prices. Thisconcept is based on four pillars as client needs, profitability and integrated marketing. 1

The societal marketing concept- At this entity works as to identified the wants, needsand interest of a target market to deliver the better satisfaction efficiently more thanrivalries. Thus, production is done with consumers well being in mind. Trends in marketingRelationship marketing- In this, managers need to put focus on customer satisfactionand retention more than total sales they made. By building better relations withcustomers, McDonald's leads to gain high volume of profitability (Pride and Ferrell,2015). Industrial marketing- It is defined in which business sells its products to othercompanies to resell it. This thing can be done in order to improve the quality by resellingit. Societal marketing- It is Duty of manager of McDonald's to find out the needs, wantsand desires of a target market and to deliver the commodities that can satisfied them. Italso relates with corporate social responsibility because customers and public welfare isessential. 2. Overview of different marketing processesMarketing concept can be defined as to discover the unfulfilled customer need and bringthe commodities that aids to satisfy those needs (Turban, Outland and Turban, 2018.). Under thisMcDonald's will formulate strategy for a value proposition and tactical decision. Thus,marketing is a process will be defined in below context manner as- Situation analysis- This is an analysis in which firm works as to identify opportunities in termsto satisfy unfulfilled customer needs. Thus, McDonald's uses several frameworks to situationanalysis as- 5 c analysis- Customers, competitors, collaborators, climate and company helps toidentify the internal working. PEST analysis- This term is inclusive of political, economical, societal and technicalfactors. The external factor to enterprises can be examined in well manner. SWOT analysis- It is a framework that is useful to condense situation analysis intoidentify the threats and opportunities so that things can be dealt easily. This analysishelps in determining the internal strengths and weaknesses of firm.2

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