Marketing Essentials Report : McDonald's
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Added on 2020-07-22
Marketing Essentials Report : McDonald's
Added on 2020-07-22
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Marketing Essentials
Table of ContentsINTRODUCTION ..........................................................................................................................1PROJECT 1......................................................................................................................................1TASK 1............................................................................................................................................1P1. Key responsibilities and roles of the marketing functions ...................................................1P2: Roles and responsibilities of marketing is related with organisational context ...................3M1 Analysis the duties of marketing in the context of marketing environment.........................6M2: Importance of interrelationships between marketing and other functional units ...............6D1: Critically analysis of the key elements of marketing functions ..........................................6PROJECT 2......................................................................................................................................7TASK 2............................................................................................................................................7P3 7P's of marketing of McDonald's and Burger King ..............................................................7M3: Different tactics and tools are applied by McDonald's........................................................9TASK 3 .........................................................................................................................................10P4: Marketing plan of McDonald's...........................................................................................10M4: Detailed and coherent evidence based marketing ............................................................13D2: Design a strategic marketing plan .....................................................................................13CONCLUSION ...........................................................................................................................13REFERENCES..............................................................................................................................14.......................................................................................................................................................15
INTRODUCTION Marketing is defined as a management or study of exchange relationship in an effectivemanner. It is used to satisfy, keep and create the buyers and their needs and demands satisfied. Itis also identified as a set of institutions, activities and procedures of creating delivering,exchanging, offering and communicating information about customer’s behaviour. It is a processby which business entity creates value for clients and make a long term relationship orconnection in order to capture value from buyers in return (Bastable, 2016). Marketing is animportant and essential part of the success and development of business. With the help of thisconcept, organisation can attract a large number of customers and increase their sales. This report is based on McDonald's which is a fast food restaurant chain worldwide. Itwas founded by Richard and Maurice McDonald in 1940 with a motive of achieving maximumprofits. This assignment described about the roles and responsibilities of marketing function andits link with organisational context. It has also shown the importance of 7P's applied by twoorganisations such as McDonald's and Burger King. Marketing plan of company with identifyingstrengths, weaknesses, competitors and market budget of enterprise will also be determined inthis report. PROJECT 1TASK 1P1. Key responsibilities and roles of the marketing functions Marketingis determined as a management process for determining, anticipating andsatisfying customer’s requirements and needs in a profitable way (Brassington and Pettitt,2013). It is an essential and vital concept which is followed by all organisations to createcustomer value and make a strong connection with them. Functions of marketing help companyin order to attract number of customers and attain desired objectives and goals in a given timeframe (Top 9 Marketing Functions of a Business, 2017). It is identify as a manager role andresponsibility which assist an enterprise to identify & source actual successful goods for themarket. It includes various kinds of functions which are as follows: Selling: It is define as a process whereby services and goods eventually flew to thebuyers who require them and the business execute its functions or activities of distributing itsgoods among customers. It is main role and duty of selling department in order to give different1
communication channel like promotion, advertisement and other aspects to aware their buyerstowards products and services. Traffic and transportation services: It is also an important and vital part of the businessdevelopment and success. In order to place their goods and services to another location,McDonald's use mainly focuses on Land transport (Burke and Friedman, 2011). Without thisfunctions, company can not produce their products at different place so it is very essential part ofthe marketing function. Storing: It is known as an important and vital element of marketing because it supportscompany to store their products. It adds both place and time utility to the business goods. Byconserving the commodity from the period of production and consumption, storage assist inregular flow of products to the marketplace. Manager of the business plays a vital role in storingall their products and producing as per the customers demand. Grading, standardization and branding: It is evaluate the product quality which gives aframework for relation between the goods of the similar type (Cooper, 2013). All these areimportant because its describe, size, colour, share and quality of commodity. So it is define as amanger responsibility who create better design in order to attract large number of the clientstowards products. Financing: It is an essential function of both production and marketing. For example:marketing enterprise and manufacturing concern needs working capital as well as fixed cost.Those are required by the administrator in order to carry inventory of products, to assembleoperating expenses and lead trade credit like salesperson's wage, transporting, office expansesand advertisement (Clow and James, 2013). It is responsibility of the finance manager tomaintain their financial transaction and do their entire activities in an effective manner. Pricing: One of the main and essential part of the company who fix the product price asper the demands of the customers. In regards to attract large number of the buyers, McDonald'sreasonable price of their Burger, Pizza and other food products. It is needs the determination ofsome prices for various parties, consumer, retail, wholesale price. So it is role of the topauthorities to fix affordable value of their quality products or services. Risk assuming: In marketing, there are different number of risks which are face by theentire seller in the company. Goods may be spoilt by flood, fire, storm and other ways such asfalling prices, changing demands and bed debts. Responsibility and role of the company manger2
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