logo

Marketing Essentials Assignment Solution - McDonald

   

Added on  2020-10-23

14 Pages4144 Words230 Views
MARKETING ESSENTIALS

Table of ContentsINTRODUCTION...........................................................................................................................3LO1 .................................................................................................................................................3P1. Key roles and responsibilities of marketing function.......................................................3P2. Roles and responsibilities of marketing relate to wider organizational context.............6LO 2.................................................................................................................................................9P3. Comparison of application marketing mix to the marketing planning process to achievebusiness objectives.................................................................................................................9LO 3...............................................................................................................................................10P4. A basic marketing plan for McDonald's.........................................................................10CONCLUSIONS...........................................................................................................................13REFERENCES..............................................................................................................................14

INTRODUCTIONMarketing essentials is concerned with understanding the basics of marketing and itsmanagement in order to run business activities. Marketing essentials is focused on performancebased approach. McDonald's operates its business in fast food chain restaurants and offersvariety of food products and beverages to its customers. McDonald's uses various marketingtechniques and tools in order to attract customers and influence them to buy products andservices offered. Marketing techniques facilitate in attracting consumers and gaining their trustand it also builds brand image and loyalty. In the following report, current and future trends ofmarketing and different marketing process are explained. Value and importance of marketing arealso explained and relationship between various functional departments is also discussed. LO1 P1. Key roles and responsibilities of marketing functionThe marketing concept helps business organization to understand the needs and wants ofits customers which can be helpful in meeting their expectation and satisfying them. McDonald'sanalyses demands of its target market and serves them accordingly and gain competitiveadvantage. Marketing concepts are divided into five parts and it also involves current and futuretrends which help in effective planning of marketing (Brychkov and Domegan, 2017).Current and future trends of marketing:Virtual reality is increasing and trending in current market situations. McDonald's adoptsvirtual reality as a marketing tool in order to attract and influence customers and increase marketshare. Virtual reality refers to interactive experience generated through computers and itincorporates audio and visual feedback.Now-a-days business organisations focuses on adopting right time of marketing which istrending in current markets as it can help in gaining competitive advantage. Businessorganisations does not focus much on real-time marketing. Pinterest is also one of the trends being adopted in markets to gain attention of customersand to attract them. It is niche social media site or platform used by organization to advertise andpromotes its product and services. It allows McDonald's to capture additional attention of targetmarkets.Artificial intelligence is a future trend which may greatly influence the marketing andbusiness operations. It enables organization to lower down the need of human resource to handle

and manage the business activities. McDonald's can make use of artificial intelligence byimplementing robot waiters which will lead to bring efficiency in operations. AI would also leadto attract more customers.Product concept: Product concept refers that customers gets attracted towards theproducts and services which have value for money and quality. McDonald's aims at providingthose products and services which are beneficial for customer's and it also creates value for theirmoney.Production concept: Production concepts refers that customers get attracted towardsproduct which are available easily at reasonable rates. So, McDonald's focuses on increasing itsproductivity which overall results in reducing its cost price which attracts more customers. Itbasically aims at providing quality products at reasonable price and which results in increasingits market share.Marketing concept: It explains that consumers get attracted towards organization whichhas created brand image. McDonald's aims at attracting the target markets by effectivelymarketing its products in market which helps in creating brand image.Selling concept: Selling concepts explains that consumers are tended to buy thoseproducts which have aggressive promotion in markets. McDonald's uses various marketing mixto promote its product and attract consumers (Hamzah and Sutant, 2016).Societal marketing concept: This concept explains that organization should focus onmeeting demands of target markets which will attract customers. McDonald's aims at meetingexpectations of its target markets which results in increasing market share and gain competitiveadvantage.Overview of different marketing processesMarketing aims at executing various plans and concepts which leads to achievement ofgoals. Every business organization needs to adopt systematic process in order to accomplishoverall objectives of organization (Stead and Hastings, 2018). McDonald's uses followingmarketing process in order to meet its targeted goals and objectives:1.Identify needs and wants of customers: Marketing focuses on analyzing target marketsin order to find out expectations of customers. It analyses both internal and externalenvironment of McDonald's so that strategies can be made that leads to satisfaction ofcustomers.

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Marketing Essentials McDonald Assignment
|13
|3797
|34

Hospitality Marketing Essentials
|16
|4717
|49

Marketing Essentials for Travel and Tourism (Part 1)
|24
|1228
|41

Hospitality Marketing Essential Concept - Doc
|11
|2617
|113

Unit 15: Hospitality Marketing Essentials
|15
|3939
|2

UNIT-2 Marketing Essentials Assignment
|16
|4442
|225