Assignment on Marketing Concept - Doc

Marketing Essentials

INTRODUCTION
Marketing is consider as a study of exchanged relationship at market by analysing
consumers demand. Mainly, it is a action of promoting or selling its offerings for generating
larger profitability. With the use of this concept, company move their goods from company to
the customers. In today's scenario, hospitality industry is fast growing sector in market as it also
focus on increasing awareness in customers mind. This will influence them to consume its
services to satisfy their requirements (Ali and et. al., 2014). The primary benefit of marketing
activity within the company is to generate larger profitability by making strong customers base in
market. Through this firm can acquire huge market share from its competitors. Current report is
based on McDonalds, is an American fast food company established in 1940 by Richard and
Maurice McDonald. In context of revenue, it is world's big restaurant chain and also serving over
69 million people in around 100 countries. The main focus of this organisation is to invite more
consumers by providing them best services according to their demand. Report is going to
discussed about key roles of marketing function which is attendant to the organisational context.
Furthermore, marketing mix of company is also mention in this project. At last marketing plan of
business organisation is discussed here that assist in accomplishing set goals and objectives.
TASK 1
Concept of marketing including current and future trends:
The marketing concept is refers to content by which firm examine or evaluate the
customers needs to make right judgement to satisfy customers needs and also compete all the
competitors at market place. As marketing includes various concept such as :
 The Production Concept: It is crucial concept in which McDonald's focus on getting high
production efficiency along with low cost. As customers are prefer to buy quality
products at lower price. By providing them same, company enhance supply and improve
its profitability (Bačík, Štefko and Gburová, 2014).
 The Product Concept: It define that customers are always wants high quality and unique
products. In this manager of McDonald's focus on making high quality products to
provide them satisfaction to its customers.
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 The selling Concept: Under this concept, McDonald's boost image of their services in
market place to invite or influence customers to buy its services. It can be effective in
enhancing its profitability.
 The marketing Concept: It is related to the principles that the company use to compete
their competitors (Baker and Magnini, 2016). In this customers are the king for business
organisation. For this, McDonald's serve their products according to consumers demand
and make them satisfied. It impart in accelerative its positive image at market.
 The Societal Marketing Concept: In this, McDonald's measure customers interests to
provide them satisfactory products. It help company in improving its positive image by
competing their competitors. Further more, organization also focus on well being and
society development while producing their products.
Overview of different marketing processes
It is crucial for company to follow appropriate marketing process which help them in
discovering hidden demand of consumers and also satisfying them by best services. It includes
different aspect like situational analysis process, strategies related to market, marketing mix
decisions, implementation and control. It help organization to improve their performance at
market place.
Roles and responsibilities of marketing function
Marketing function is include as a role which support business to identify quality
products for the market place wherein they operate their business. Along with this, it also help in
boosting or advertising their products in market for influencing customers over-there. In this
regards, the main purpose of marketing is to analyse and identify customers requirements with
satisfying their demand. It support company in building their competitive brand image. As there
are some key roles and responsibilities of marketing function played in McDonald's:
 Market research: It is crucial function of marketing which support organisation in
understanding customers taste towards its services. In this marketing department is
responsible for undertaking market research with the aim of identifying requirement of
products and customers needs as well (Baker and Saren, 2016). With the assistance of
this, McDonald's can improve their customers base and attain their higher satisfaction as
well.
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 Promotion: For spreading awareness, it is important role of marketing function that used
to encourage company services so that more and more customers get attract from its
services. Under this, the primary focus of McDonald's is to undertake market campaign
and at the same time also develop communications material to promote their products in
market (Blythe and Martin, 2019). It help in rising image of organization at competitive
market through which more and more customers set influenced or attracted as well.
 Pricing: It is considered as a crucial role of marketing function through which manager of
organization is responsible for setting product price that provide by firm to its consumers.
Therefore, it is crucial for organization to decide the product price after forecasting rates
of competing services, cost, profit margin and many more. Along with this, McDonald's
also ensure that product price is affordable by the customers. This will assist in exploding
sales and profitability of firm.
Market influence and interrelated with other functional department
Marketing is show a important part in business organisation as it is consider as a strategic
tactics that help company in attaining all the market objectives. It also used for encourage as well
as advertising company services that offering by McDonald's to attain success. Along with this
this, marketing roles and responsibilities is also interrelated with other department by which
company serve best quality products to its customers in order to improve their performance level.
For better understanding, there are some interrelation among marketing function with another
business department are as follows:
 Marketing and HR department: It is essential for marketing department to analyse market
trends to implement policies within the company accordingly. For formulating the same,
McDonald's required talented workforce so that they can easily attain the success
(Boschetti and Massaron, 2015). In this regards, HR department recruit candidates as per
the marketing functions and also give them better training and development activities. By
this, company can attain their set targets and goals and stipulated time frame.
 Marketing and finance department: In business organisation, it is crucial for finance
division to manage enough budget to formulate whole activities in effective manner. In
this marketing department of McDonald's analyse required finance to performing
marketing activities like advertisement, promotion and many more. As per this, finance
department provide fund accordingly (Brychkov and Domegan, 2017). It help in
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minimizing the possibilities of creating issues while promoting activities and services at
market place.
 Marketing and R&D: Under this, marketing division of McDonald's help research
division by identify the products which would be most marketable. As per this, research
department easily grab customers attention by giving them best quality of services as pet
customers needs.
 Marketing and production department: It is crucial for organization to provide best
quality products in market in order to gain huge profitability. In this context, marketing
department of McDonald's analyse the number of goods to be provided in market place. It
also provide information to production department in which they produce goods and
services accordingly. This will contribute in making brand image more competitive at
market place.
Marketing mix
Marketing mix is an effective strategy used by organization for encourage consumers to
buy its offerings as per their requirements. It is also a tool of marketing that support organization
in accomplishing all the set goals and objectives by which firm increase profitability in market
place. In this regards, McDonald's use this strategy to promote their products in market (Dioko,
2016). It may assist in establishing competitive brand image that make it famous as compare to
its rivals. Marketing mix of McDonald's can be understood by following description:
Basis McDonald's Burger King
Product McDonald's is a food service business
provide different products like
Chicken and fish, Beverages,
Hamburgers and Sandwiches,
Desserts and Shakes, McCafe and
many more. All these are help
company in attracting more and more
customers over-there.
Burger king serve different variety of
menu from snacks to meal to its
customers. As they includes different
food categories such as Burgers,
Chicken and fish, Side, Sweets or
Desserts and many more that
contribute in satisfying consumers
demand.
Price It is specify the price range of
company products and services (Dibb,
Burger King use market oriented
pricing strategy and bundle pricing
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Simoes and Wensley,2014). Thus, it is
important for company set appropriate
product price so that company easily
increase their sales. In this regards,
company use Bundle pricing strategy
and psychological pricing strategy
through which company encourage
customers to buy company products
and services.
while offering their products and
services to its customers. Along with
this, company also focus on product
quality that assist in increasing its
sales and profits as well.
Place McDonald's offer their products their
restaurants, Kiosks, McDonald's
mobile apps, Post-mates websites and
app and others to its customers in
order to generate its sales revenue.
Burger king has strong supply chain
globally through which they serve
their products to its customers and
also make them satisfied towards its
offerings. Along with this, company
also has developed physical stores
and websites to serve products.
Promotion It is crucial for firm to promote their
products in market place to influence
customers consume its services. In
this company use advertising, direct
marketing, Sales promotions, public
relations and many more to
communicate with their customers at
market place.
Company use advertisement in print
media such as hoardings, newspaper,
magazines and many more to promote
their image in market place. Firm also
offer discounts and many more offers
to customers to retain them for longer
period of time (Jenyo Gabriel and
Soyoye Kolapo, 2015).
People McDonald's includes skilled and able
workers within their business so that
they easily understand customers
needs and wants. With the assistance
of this, they easily satisfied their target
customers at market place.
The main focus of Burger king is on
its customers and employees. As they
provide better training to their
employees so that they easily handle
their customers and provide them
better satisfaction. It help in
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increasing the customers loyalty
towards its products and services.
Process McDonald's use transparent food
producing in-front of customers and
also implement invented most
efficient cooking equipment within
their process to serve quality products.
Burger king has strong supply chain
and work culture that support them in
offerings best quality services as per
consumers taste and preferences.
Physical
evidence
It includes company layout and
ambiance through which customers
get attracted. As McDonald's includes
best staff members, building
maintenance and attractive interior for
customers (Kennedy and Parsons,
2014).
Burger king has more that 15000
locations in around 71 countries
through which they easily serve their
products and services to its
customers. Furthermore, company
also includes attractive layout to
invite more and more consumers over
there.
TASK 2
Marketing plan
Marketing plan is consider as a document that outlining the marketing strategy and tactics
with the aim of accomplishing set goals in specified time frame. Mainly, it consider lots of
actions and strategic foundation that help company in generating larger profitability. In context
of McDonald's, company also prepare a marketing plan to introduce their services in market for
inviting more and more consumers. As company is going to produce new product i.e. Pizza for
influencing customers about their new products (Mueller and et. al., 2015). This can e effective
for business to enhance its profitability and at also contribute in established its competitive
image. It also includes various activities that help in making a successful marketing plan. These
can be understood by following points:
Objectives:
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To enhance their sales by 20% in upcoming 1 year by delivering best quality food to its
customers is the main objective of McDonald's at market place.
Mission:
The primary mission of McDonald's is to offer high quality of food at a affordable price
with the aim of generating huge profitability.
Vision:
To become a famous food restaurant at global market by fulfilling customers demand
towards its products is the vision for McDonald's that provide path to operate their activities in
effective way.
Situation analysis: This stage of marketing plan is also a important for marketing manager as it
help business organisation in improving their image and condition (Mittal, 2014). For this
company use SWOT analysis that support them in evaluating the current situation or
performance of organisation at competitive market place.
Strength Weaknesses
 McDonald's has strong products
offerings that help them in increasing
their profitability level.
 Operations of McDonald's are spread in
over the world that support in
developing its competitive image.
 Long queues at the time of busy period
of major weaknesses in-front of
McDonald's.
 Health conscious people is also a
negative factor for company.
Opportunities Threats
 Growth of fast food industry is
developing which provide opportunities
to firm to increase their revenue by
offering their quality products.
 Company also expand their business at
global countries that assist in
developing its competitive brand
image.
 Intensity competitors at market is
become a major threat for company at
the time of performing their business.
 Instability in political environment is
reduce its performance.
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Strategy: For better success, McDonald's is also responsible for adopting an appropriate strategy
to attain their set target in stipulate time frame.
 Segmentation: Under this, company classified their customers as per their characteristics.
Mainly, company segment their customers as per psycho-graphic segmentation as it
includes consumers values, habit, attitudes and so on (Muralidharan and Raval, 2017).
 Targeting: After segmenting , McDonald's target adults and kids through which they can
easily sell their products. This will contribute in improving overall profitability level.
 Positioning: It is related to selection of marketing mix as it is suitable for target
customers segment. In this regards, McDonald's use adaptive type of products
positioning in which they easily invite more and more customers to buy company
products and services to satisfy their needs.
Tactics: This type of stages is related to the short term strategy in which marketing manager take
instant decision to eliminating the chances of arising any kind of issues and obstacles. For
attaining the same, company adopt different strategies such as marketing mix, online promotion,
social media marketing, traditional marketing and many more (Okumus and Cetin, 2018). With
the help of this company can improve their image and also resolve all the issues faced by
company while implementing marketing plan at market place. It also help in increasing
customers satisfaction that directly contribute in establishing competitive brand image at market.
Actions: It is related to the activity that help company in improving the image and demand of
new product in market with the aim of generating larger profitability. For better understanding,
company use new marketing mix for new products are as follows:
 Product: The new products
 Price: McDonald's set their product price on the basis of customers. As they also ensure
that product price is affordable for customers. This will improve the profitability level of
the firm at market place.
 Place: For delivering their new products, company includes their stores wherein
customers easily buy its services and satisfy their needs.
 Promotion: For promoting Pizza in market, McDonald's use online marketing like social
media to influence customers to buy company products and services.
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 People: McDonald's is responsible for includes skilled and talent workers within the
production department so that they easily make quality products as per customers
demand.
 Process: The process of McDonald's is very fast in which they focus on satisfying
customers demand by serving them as per their requirements (Pappas, 2017).
 Physical evidence: In this company needs to make attractive layout and also keep store
ambiance more attractive so that customers get easily attracted.
Marketing budget:
MARKETING BUDGET
PARTICULARS I Year II Year III Year IV Year V Year
Initial money 10000 12000 16500 18060 20900
Investment 15000 16000 23840 39500 22400
TOTAL 25000 28000 40340 57560 43300
MARKETING OUTLAY
Promotion 10400 4000 8000 2820 6000
Online publicity 4000 3000 10000 5000 5000
Print media 7000 2800 10000 5900 10600
TOTAL 21400 9800 26000 13720 21600
Control: This is one of the most and last stage of marketing plan that focus on taking right action
while implementing marketing strategies (Rodney and Wakeham, 2016). For this, company also
communicate with their customers and take their feedback for furthermore improvement within
their activities. This will help in increasing the profitability and brand image at competitive
market place.
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CONCLUSION
As per discussed it has been ended that marketing is crucial action for business to
increase their profitability level by spreading their awareness in market. It also help company in
sharing healthy relation with consumers by providing them quality products and services
accordingly. Furthermore, key roles and responsibilities of marketing function is also played a
crucial role in attaining at the market objectives in stipulate time frame. In this regards,
marketing mix is also consider as an effectual tool that used by company in order to maximise
their profitability at market place. In the end of the project marketing plan is also discussed that
provide an appropriate path and direction to marketing manager in operating their business with
more efficiency. This will invite large number of customers over there by which competitive and
famous brand image can be easily established at wider market place.
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