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Marketing Plan of McDonald's Solved Assignment

   

Added on  2021-01-02

12 Pages4170 Words346 Views
Marketing Essentials

Table of ContentsINTRODUCTION ...............................................................................................................................3TASK 1.................................................................................................................................................31) Introduction to the concept of marketing, including future and current trends...........................32) Overview of the different marketing processes...........................................................................43) Role and responsibility of a marketing Function........................................................................44) Marketing influence and interrelated with other functional department of the McDonald's......55) Values and importance of the marketing role in organisation.....................................................56) Conclusion about importance of having effective relationships between different functional departments......................................................................................................................................5TASK 2.................................................................................................................................................67) Comparison between the marketing mix of two organisation.....................................................6TASK 3.................................................................................................................................................98) Marketing plan of McDonald's....................................................................................................9CONCLUSION...................................................................................................................................11REFERENCES...................................................................................................................................12

INTRODUCTION Marketing is a technique through which organisation enhance their growth and achievedsuccess in the business. It includes understanding of market, demands and requirements ofcustomers, implementing customer driven strategies and give customers quality. McDonald's is oneof the leading fast food organisation of the world. It was founded in 1940 by Richard and MauriceMcDonald in America. The present report emphasizes on the roles and responsibilities of marketingfor an organisation and it's relationships with other functions of organisation (Baker, 2016). Alongwith this , a well comparison chart is designed between McDonald's and Burger King which showsthe marketing mix of both the organisations. In addition with this ,a small discussion will also takeplace on the marketing steps of McDonald's.TASK 11) Introduction to the concept of marketing, including future and current trends.Marketing : Marketing is a concept of planning and applying the future strategies, costingpolicies, advertisements for promotion and innovations to products and services, that are designedto exchange and satisfy the needs of customers and organisation.Concept of Marketing : It is a plan which is introduced by companies to fulfil the needs ofcustomers, increase sale, increase probability and beat competition. There are five marketingconcepts that can be implemented by organisation are – production concept ( inexpensive andavailable products are more preferred by customers), product concept (innovative features,performance and quality products are very much popular in market), selling concept (customersoftenly get attracted towards products which are promoted widely), marketing concept (value isdelivered to customers, their requirements are fulfilled), societal marketing concept (focus on needsof target market and deliver services effectively).Current and Future Trends : Current trends are those which are new to market, but thesecan be the modified strategy which were earlier used or can be totally a new concept ( Campbell,2018). Technology has dynamic nature, where as demands of customers get change with time, it isvery much important for organisation to make change sin their products and services so that theycan full fill the requirement of customer and can increase their profitability. Selling Concept : There are several sources, which McDonald's can use for attracting largenumber of customers. In this they can make new products and make their promotional activities,which use many popular channels like T.V., radio and magazines etc.Production and Product Concept : For increasing the profitability and the share in market,McDonald's have to make changes in their production strategies, which can help them in producing

the products in effective manner. They also have to a make strategies for new products, this willhelp them in attracting new customers that are loyal to other organisation or to their competitors.2) Overview of the different marketing processesMcDonald's marketing process involve some stages such as mission, situational analysis,marketing strategy, marketing mix, implementation and control. All these stages are important for acompany while introducing and implementing their products in market and to customers ( Cavusgil,2014). Beneath is the discussion on that processes :Mission : McDonald's has decided to make good and healthy food products.Situational Analysis : McDonald's is available to gain competitive advantages because oftheir commitment of regular study on consumer's demand and also they focus on the quality ofproduct. This the core of their business mission.Marketing strategy : McDonald's is a multinational company which provide their qualityproducts and services to food sector for customers of different regions. While introducing a newproduct, they are depend on brand loyalty of their existing consumers as a strategy.Marketing Mix : While McDonald's offers a different range of products or services, it valuesBundle and Psychological pricing strategy and relies on less of counsel for distribution. Implementation and Control : Here, company use to implement their products and servicesat market place, which is important for them for maximising their customer base and improve theirprofitability.3) Role and responsibility of a marketing FunctionFor achieving different goals and objectives, there are several roles and responsibilities thatthe marketing manager of McDonald's have to perform. Some roles and responsibilities thatmarketing manager of McDonald's have to perform are as follow :Identify potential market : It is very much important for marketing manager of McDonald'sto find markets where McDonald's can invest more due to the high demand of their product in thatarea. This will help them in making new strategies, which can be used for making better relationswith targeted people ( Hair, 2015). For this they can use tools like social media marketing, collectreviews from different customers while they use to visit their premisses.Communicate develop products in market : It is very important for the marketing managerof McDonald's to communicate with ample number of customers, so that they can get theknowledge about the new products provided by them. For this they can use, resources like socialmedia, T.V., Radio, etc. which can help them in making connection with large number of people.Market Strategies : It is important for marketing manager of McDonald's to make strategiesfor organisation according to the result of analysis of marketing situation. This strategies will help

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