The Marketing Mix and Its Various Aspects

The given assignment is based on the topic 'Marketing Mix' which includes various aspects such as the traditional 4Ps (Product, Price, Promotion, Place), the modern 7Ps (Product, Price, Promotion, Place, People, Process, Physical Evidence), and related concepts. The assignment provides a list of references from academic papers and online sources, demonstrating its focus on marketing research and theory. It also includes two illustrations, one showing the functions of marketing and the other illustrating the marketing mix. The assignment is likely to be used in a marketing or business-related course, possibly at the undergraduate or graduate level.

MARKETING
ESSENTIALS

Table of Contents
INTRODUCTION ..........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Roles and responsibilities of marketing functions.................................................................1
P2 How roles and responsibilities of marketing is interlinked with other functional units........5
TASK 2............................................................................................................................................6
P3 Marketing mix for two different organisation.......................................................................6
TASK 3............................................................................................................................................9
P4 Develop a basic marketing plan.............................................................................................9
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
Marketing is an art and science of determining target markets, getting numerous
customers by delivering them qualitative products and services. It is a societal process which
emphasis on identifying buyers needs and wants. In addition, marketing involves transferring of
goods from producers to consumers so as to improver company's sales and profits. The main
motive of marketing is to make healthy public relation, this will help managers for influencing
them to purchase goods and services. It is also accessible in developing an effective marketing
strategy in order to achieve goals and objectives of the firm. Marketing managers also create
imperative marketing strategies and policies (Al-Ekam and et. al., 2012). McDonald's is the
chosen organisation in this present report; is a multinational fast food chain. It was established in
1940, the prime objective of firm is to provide healthy and value added products to their
customers by getting better outcomes. Apart from this, the assignment will be include roles and
responsibilities of marketing functions. Readers will also came to know interrelationship
between marketing and other functional units of the firm. There will a comparison between
marketing mix of two different business entities. A basic marketing plan is developed in order to
analyse future situations.
TASK 1
P1 Roles and responsibilities of marketing functions
Marketing is heart of every business organisation. Mostly functions and aspects is depend
upon crucial marketing strategies. It covers public relations, advertising, promotion etc. so as to
gain better attention from target customers. In addition, marketing is process by which managers
can easily promote their products and services in global environment. McDonald's uses various
techniques in order to expand itself in target market. With the help of innovative merchandise
tools, customers can get aware about products and services of the firm. The growth and vitality
of a firm is often depend upon its reputation; whereas marketing assists in building brand name.
There is given significance of marketing for a business organisation, that is stated as below: -
 Marketing plays a crucial for a company to succeed. If a firm expand high amount upon
its marketing campaigns, then it can easily achieve high sales and profits. A marketing
program can gives best opportunity to an organisation as it will be capable to achieve
high market growth and share from global environment.
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 It also fosters healthy competition by supplying innovative and qualitative products to
customers. Marketing managers are used an effective pricing policy that helps to reach
intended buyers (Baker and et. al., 2016). In this modern era, by adopting marketing
strategies, small and new business can easily enter and grow into marketplace.
 Marketing helps in improving brand name. If a firm has solid reputation in marketplace
with which it can easily increase its sales and profits from target market. In addition,
strong market image can also attract large group of buyers and it also builds active
participation of society in various marketing campaigns.
 It can also maximise the support of public funding and develop loyalty among
stakeholders of the company.
 Effective marketing will render higher level of customer satisfaction that is must to
expand market share and profits.
Marketing functions: - Marketing is an essential procedure for growth and success of
business entities. Managers of McDonald's usage good merchandising campaigns that can better
inform to consumers and driven up company's sales. Packaging, labelling, branding, financing,
product designing, research, transportation, risk assessment etc. are the main functions of
marketing. They all are liable to attain vision and mission of the firm in a certain time period.
Brief description of all these functions is stated as under: -
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(Source: Functions of Marketing, 2017)
Marketing research
Research is one of the important function of marketing because it helps managers to get
information about customers' needs and wants. If a firm continuously conduct research
programmes than it can easily know strength and weaknesses of its competitors. With the help of
marketing research, managers can recognise new market trends and produce products
accordingly that is able to fulfil customers needs in an adequate manner (Mihart, 2012). It is also
accessible for managers to evaluate future market conditions for making effective marketing
decisions that are able to attain goals and objectives of the firm. In McDonald's, research can
provide relevant information as well as solution towards any problem which will be faced by
company.
Financing
Finance is required in order to completion of marketing operations. McDonald's has
strong financial position in target market as it spends a lot on advertising and promotion of
products and services. Apart from this, managers are needed working capital to meet operating
expenses, to carry out goods and to extend trade credit in marketing (Desai, 2013). It is essential
for managers to identify the various sources of finance so as to increase their capital. There are
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Illustration 1: Marketing functions

three ways of generating finance, such as – bank loans, venture capitalists, trade credit. Finance
is required implement different marketing campaigns and activities so as to interact with
potential consumers of the firm.
Product designing and development
Another important function of marketing is product designing and development.
Managers usage new and innovative methods in order to produce something unique that is able
to provide higher level of customers' satisfaction. Then concept of product designing and
development dictates improving existing goods as per the needs and demands of customers. In
this sense, if a business organisation is able to supply goods as per consumers' expectations then
it can easily attain long term growth from target market. Product designing process involves
different tactical activities, i.e. idea generation to commercialisation that are used to product
development and designing.
Standardisation and grading
Standardisation refers the implementation of certain morals and standards for products.
These are rely on physical quality of commodities that are sold by firm. A standard is set in order
to sell as well as manufacture trades in an ethical manner. In other words, it conveys uniformity
of goods. In UK, government has set some values and laws for producing of food products.
Therefore, customers can get healthy and branded food items. Apart from this, grading consists
with classification of products in certain groups as per their size, feature, quality etc. It is divided
into two parts, i.e. fixed and variable. Grading and branding are essential aspects of
standardisation, it facilities purchasing and selling of goods.
Marketing information system
Managers need relevant information to make marketing decisions, it will help them to
achieve goals and objectives of the company. The main role of MIS is to provide right facts and
reduces risks. Modern marketing needs appropriate and adequate information, therefore it helps
sellers when and where to sell (Dibb and Simkin, 2013). Managers of McDonald's collect and
interpret data form internal and external sources so as to gain better outcomes. In addition, it can
also provide some facts about market trends. Internal sources are – past records, history, sale
people, findings etc. whereas external sources of information are, i.e. commercial research,
business publications and government reports.
Risk taking
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Due to some negative changes in environment and climate, business owners are faced
financial or non-financial losses. Business risks is related with some unforeseen future
circumstances. There are different types of uncertainties, such as – depreciation, spoilage, fire,
floods, obsolescences etc. that can be occur anytime. Many risks are involved from product to
selling, i.e. variations in market trends, human factors, natural dimensions. Business risks also
can be arise during supply of products.
Buying and selling
Manufacturing industries needs to buy raw materials in large quantity. Some trading
firms also purchase goods to the purpose of selling to others. Therefore, it can be said that
buying function of marketing is interrelated with selling activity. Efficiency and economy is the
main part of buying activity which enable manufactures to earn more profits. Buying can be done
through three methods, i.e. by inspection, by sample or pattern and by brand or description.
Apart from this, selling function consists with supplying of goods and services to customers in a
minimum time schedule (Gordon, 2012). In addition, selling is the process with which goods are
sent to their end users. McDonald's uses this function in order to distribute its trades in target
buyers. It informs buyers about the availability of products and ascertain their behaviour in target
market. With the help of effective ideas of selling a firm can get competitive place in relation to
its rivals.
P2 How roles and responsibilities of marketing is interlinked with other functional units
Marketing plays an eminent role in transferring goods and services to their end users. The
marketing department of firm is interconnected with its other departments. So as to attain and
retain growth and vitality for a long term period. Every unit has its own roles and responsibilities
that is set by top management. In modern era, there are different types of functional units are
worked within business organisation, such as – finance, human resource, customer services,
production and research etc. Below described interrelationship of marketing in a wider business
context: -
Information technology
In commercial organisations, marketing and IT departments are worked together for
achievement of sales goals and objectives. The main role of marketing department is to create
value for customers, so as to manage healthy public relations whereas IT unit consists with
subset of communication and information technology. It use networking, storage, further
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physical devices; it also involves different process that is used to store electronic data. Effective
marketing can be done through various IT tools and techniques (Hsu, 2011). Marketing
managers of McDonald's are using these methods of information technology, such as – CRM and
digital marketing. In which, CRM (customer relationship management) is applied in order to
maintain healthy and positive with them whereas digital marketing helps in promoting goods by
using innovative channels of distribution. Digital marketing helps in attaining marketing goals by
electronic communication.
Customer services
The customer service department of the company is liable to handle customers' queries
and problems. McDonald's has effective customer relationship because of strong customer
services. Its managers provides some guidances and take feedbacks after buying products. This
can enhancing sales and make higher profits. By healthy and positive public relations, a company
will get many loyal customers.
Production and operation department
Operation department of McDonald's focuses on producing qualitative and value added
products in order to increase sales and profits in competitive market. With the help marketing
research, operation managers get information about needs and wants of customers. It will help
them to meet market requirements and get high competitive advantage. Apart from this,
operation department is also liable in transportation or logistic of goods and services to end
users.
Finance
Finance is the blood of every business organisation. A firm's growth and success is
depend upon strong finance because it is required in performing all tasks and operations. In
addition, financial managers are responsible to provide funds or money to marketing department
in order to promote products in target market (Huang and Sarigöllü, 2014). While making a
marketing budget, managers have to consult with financial unit so as to analyse the amount
which will be spend on advertising and selling activities.
Human resource
People are most valuable assets; if a firm has well qualified staff members than it can
easily gain higher competitive advantage. Human resource department of the firm determine
vacant position in the company and hire best appropriate candidates for it. It is also culpable to
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provide training and development assistance to all employees. Whereas, marketing unit needs
effective person who can easily influence people towards purchasing products and services of the
firm.
TASK 2
P3 Marketing mix for two different organisation
Marketing mix is all about putting right product at its accurate place on correct price. It is
too difficult for managers to do this. Therefore, they have to analyse 7Ps of marketing mix.
Marketing Mix of McDonald's is described as below: -
(Source: The Marketing Mix 4P’s and 7P’s, 2017)
 Product – The firm sells a variety of fast food goods, such as – Big Mac, burger, coke,
French fries, chicken sandwiches, wraps, cheese burgers, oatmeal, chicken McNuggets,
shakes, sundaes, soft drinks, coffee and other beverages etc. The company has captured
large market area of veg and non veg customers. In addition, McDonald's has increased
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Illustration 2: Marketing mix

nutritional value in its meals so as to provide healthy and qualitative food items to its
customers. Its products and services are always remain healthy, but in last year it was
perceived as hygienic and not good for health (Jones and Rowley, 2011). Price – The firm's food items are quite affordable, so as lower income customers can also
afford them. It is following cost leadership strategy; according to this products are offered
on competitive prices in order to gain high competitive advantage. In addition,
McDonald's produces its products for each and every section of society so as to increase
sales and make higher profits. It also provide many offers and discounts on combo packs
of burger and cokes. It is heavily marketed due to its happy price menu. Place – The firm has located in 119 countries, there are over 36297 branches of
McDonald's all over the globe. In addition, the prime aim of the company is to establish
exclusive presence in target market. Now it is also opened its further branches in rural as
well as urban areas. It builds qualitative restaurants near by malls, colleges, toll-ways and
airports etc. It is move to cluster in those location where there is lots of rush. Promotion – The company is using new and innovative channels of promotion in order to
reach large number of customers. Recently it has spend $1 million upon promotion itself
in international market, so as gain people attention for long term period (Kennedy and
Parsons, 2014). In order to attain and retain buyers, McDonald's advertises on television,
radio, social media, web portals etc. it regularly conducts a market research in order to
recognise current market trends and capture high market vitality. People – The company is customer oriented, the growth and success of McDonald's is
rely on its loyal customers. When a service is being supplied to a person, it should be
provided in ethical manner. Buyers are the market king, then it is essential for food
industries to deliver them value added products (Nguyen and Simkin, 2012). Process – McDonald's process are clearly defined to their customers. This is the main
reason as firm has key group of loyal people. It organise several workshops and seminars
in order to interact with potential users of the firm. Physical evidence – It relates with level of comfort and attractiveness where a service is
located. McDonald's products are easily available at local areas of UK market.
Marketing mix of Burger King: -
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 Product – Burger King is a fast food supplier that is main competitor of McDonald's.
These both are market leaders. Product range of Burger King is as same as McDonald's.
In addition, it operates fast service restaurant that basically emphasis on burger. Product
refers with company's output which is offered by it to target consumers. There is given a
list of food that is offered by Burger King: - sides, salads, sweets, deserts, cold coffee,
chicken item, fish, burger and further beverages etc. In order to capture high market
share, the company is endorsed generic strategy, it states large scale of production to
limited number of product lines. Price – The company follows two types of pricing strategies, such as – bundle and
market oriented strategy. As per market oriented pricing strategy, prices are set on the
basis of prevailing market conditions (including supply and demand also). Apart from
this, bundle pricing strategy dictates that if customers' are purchase something bulk; this
could be more affordable for them (Lamb, Hair and McDaniel, 2011). Place – Burger King restaurants are established at world wide. Place refers to the location
or venue that is used by firm in order to transact with its potential customers. Apart from
this, the company also provide online services to its clients as they can easily access it.
Buyers also uses company's website, where can quickly place their order by getting
attractive discounts and coupons. Burger King has home delivery option; it will help to
capture large market share. Basically, Burger King relies on physical presence of its
restaurants. Promotion – Burger King does not spend a lot of amount on promoting itself. As the firm
has great brand value, there is no need of promotion because customers' are automatically
attract towards (Lipsman and et. al., 2012). But the company adopt some techniques in
order to communicate with target users. It gives adds through TV, online and print media. Physical evidence – Burger is located in 110 countries with having 32782 restaurants.
Customers can find it through BK.com; the website provides each kind of information
about company, i.e. production process, past history, stock information etc. People – Burger King has well skilled and technical staff members who are very polite
and well behaved to its clients. The firm timely provides training to its employees so as to
deliver effective services.
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 Process – Burgers King always tries to improve its interior in order to give luxurious
experience to its clients. For this, it has unique and wonderful dinning that is able to
attract many customers from market.
TASK 3
P4 Develop a basic marketing plan
Managers of McDonald's create an effective marketing plan in order to analyse future
market condition. For that, they make some strategies and policies; this will help them to
compete with external market forces. Apart from this, marketing planning is also accessible in
determining target market and market segmentation in order to achieve aims and targets of the
firm. Below mentioned some steps that are included in the process of marketing plan: -
Introduction of the firm
McDonald's is a largest fast food chain that serves across the world. It was founded in
15th May 1940 by Richard and Maurice McDonald's as a barbecue restaurant. The food chain has
30000 outlets in 150 countries. McDonald's is basically famous for burger, coke and French
fries. As per data of 2016, the firm had been earned $ 5.5 billion profit. It spends $1 billion per
year on training and development of staff members. McDonald's has marvellous portfolio in fast
food, it is a first choice of mostly burger lovers. The company is continuously improve its
products so as to provide novel experience of its clients (Ogunmokun and Tang, 2012).
Vision and mission of the company
The vision statement of McDonald's is “to be UK's best service restaurant which gives
unique experience to customers in an ethical manner. The company believes that a product can
be succeed with the help of customers' perception. Apart from this, mission statement is: “to be
world's greatest fast food chain by fulfilling corporate social responsibilities. For this, the
company is regularly improvising its operations in order to increase buyers' experience.
Target market and market segmentation
The firm is using demographic segmentation strategy and the basic parameter is age for
market segmentation. McDonald's is producing food items for children as well as youth for urban
citizens. In order to increase market share, the company is using market penetration strategy.
Recently, it has launched some marketing campaigns for attaining high growth in domestic
market (Musibau, Oluyinka and Long, 2011). Apart from this, McDonald's also focuses on
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supplying best services to clients. For this, it has evolved customer services so as to extend the
number of satisfying users.
Set marketing objectives
The main objective the company is to reduce service delivery time for reaching with
target customers. It is essential for marketing managers to set some aims and targets in order to
gain high market growth and share. There is given another objectives of McDonald's, is dictates
as below: - covering overall food market, flexible process of complaint handling, increase sales
for next 6 months by 40%, maximise brand awareness etc.
Assessment of tools and techniques
It is necessary for every business organisation to use new and innovative tools that can be
used to monitor product portfolio. McDonald's is using Porter's 5 forces model as a marketing
tool because it assists to prioritize issues which are concerned with market competition,
substitutes and customers. This course of action helps in addressing all queries which are related
with product innovation. The 5 forces model can attain and retain many buyers for long term
growth of the firm. It can implement higher quality standards so as to analyse competition in
saturated market (Malhotra and et. al., 2013). The model involves these elements, such as –
competitors rivalry, bargaining power of suppliers and customers, threats of substitutes and new
entrants.
Situational analysis
Situational analysis can be done through SWOT analysis. It helps managers to
identify strength, weaknesses, future opportunities and threats that will affect business
organisation.
SWOT analysis of McDonald's is stated as under: -
STRENGTH
 McDonald's has world wide presence as
it has many loyal and satisfied
customers in international as well as
domestic market.
 It effectively uses economics of scale to
attain cost reduction strategies.
 The firm is capable to generate high
WEAKNESSES
 McDonald's product innovation process
is too slow due to this it cannot get
market high competitive advantage.
 The brand has limited flexibility as it
cannot accept changes quickly.
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sales revenues due to strong brand
recognition. McDonald's has aggressive strategies
which enables it to capture higher
market segments.
OPPORTUNITIES
 The burger brand is giving attention on
further expansion of market area.
Recently, it has open many restaurants
in different local areas of UK.
 Vast chance of develop food market in
international market. The brand should emphasis on product
diversification.
THREATS
 In these days, customers are adopting
healthy lifestyles and they are leaving
fast food.
 GMO trends and various government
rules is a biggest threat for
McDonald's.
Creation of marketing strategy
The fast food brand is tend towards supplying is products in another countries. But for
this, it requires more outlets in posh localities in order to grab numerous clients in target market.
Apart from this, McDonald's also emphasis on how to create brand awareness between its users.
In addition, the company is using efficient promotional strategies in which people can come and
check the taste of food (Menegaki, 2012). In addition, it also has developed an impressive
marketing budget in which a particular amount is set for different marketing activities.
Allocation of resources
There are diverse types of resources, such as- human, physical, technical and financial
etc. McDonald's has well qualified and skilled people but there is a lack of effective production
tools. For that, the company have to endorse new and innovative machinery which can give
maximum production.
Monitoring and controlling
Before implementation of marketing plan, it is reviewed by managers whether it is
suitable for business or not. After that, the overall plan is regulated by managers in order to
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monitor as well as put a control on all activities that are involved in the process of marketing
planning.
CONCLUSION
From the above mentioned report, it has been concluded that marketing plays an
indispensable role in growth and success of business entity. It forces managers to achieve their
vision and mission in a certain time period. The report refers that marketing is a dynamic concept
that is able to adopt market trends and customers demands. Apart from this, it has described roles
and responsibilities of various marketing functions, such as – financing, buying, selling,
marketing information system etc. They are interlinked with other functional units of the firm so
as to perform in well being manner. The main role of finance department is to provide funds for
marketing activities in order to reach target as well as potential buyers of the firm in a certain
time period. Marketing mix of McDonald's states that products should be supplied on right place
on an average price. It involves seven elements, i.e. product, price, place, promotion, physical
evidence, process and people. Marketing plan is created for refereed company in order to analyse
external and internal which will impact upon organisational performance and production.
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Functions of Marketing, 2017. [Online]. Available through: < https://www.gktoday.in/functions-
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