Marketing Essentials of McDonald's : Assignment
Added on -2020-07-23
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Marketing essentials
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Key roles and responsibilities of marketing functions...........................................................1P2 How marketing roles and responsibilities are related with wider organisational context.....5TASK 2............................................................................................................................................6P3 Marketing mix of two different business associations...........................................................6TASK 3..........................................................................................................................................10P4 Produce a basic marketing plan of McDonald's...................................................................10REFERENCES..............................................................................................................................15
INTRODUCTIONIn ever dynamic nature of environment, it is essential for every business association toimplement effective marketing strategies and policies so as to gain high competitive edge. Thus,marketing is a vital concept for every business; its a key process of promoting and sellingproducts of firm to its target audiences. Profits are the bottom line for businesses and it can begenerated only by successful sales. Without an effective marketing firms may fail to exist, hencethey are required to have amazing or unique products which creates value for them (Armstrongand et. al., 2015). The present coursework is based upon McDonald's is multinational fast foodrestaurant by having more than 35000 outlets across 100 countries. The firm has occupied morethan 4 million people and it serves 70 million customers everyday. McDonald's has a largestshare in fast food restaurant industry of 17%; the organisation uses effective marketing tacticswhich supports it to gain high competitive edge. Apart from this, the report will describe rolesand responsibilities of marketing functions in contrasts with other departments. There will be adiscussion on marketing mix of two different corporate entities who deals in same sector. A basicmarketing plan is going to be developed to attain firm's goals and objectives in the best possiblemanner. TASK 1P1 Key roles and responsibilities of marketing functionsMarketing is an indispensable business process which inform, attain and convince peoplethat firm's products and services are value to them. It is necessary to use effective marketingtactics in order to promote business, offerings or brands. Without this, management cannot makehigher sales. Marketing helps in increasing sales because through this people get know aboutexistence of the firm. In addition to this, marketing is a key management process which enablesmanufactures to interpret customers' needs wants then exceed them so as to satisfy their needsand wants. In this ongoing activity, customers are the centre of attraction who affects all aspectsof businesses (Askeland and Wright, 2013). By considering McDonald's, the firm has acquiredvarious marketing strategies for attracting customers even under credit crunch situation. In orderto improve its marketing strategy, the firm starts to provide home delivery services to itscustomers; which motive is to continue the competitiveness of fast food giant. 1
This graph shows the amount that McDonald's Corp. spent on advertising worldwidefrom 2014 to 2017. Advertising costs included in operating expenses of Company-operatedrestaurants primarily consist of contributions to advertising cooperatives and accounted for 532.9million U.S. dollars in 2017. Production costs for radio and television advertising are expensedwhen the commercials are initially aired. These production costs, primarily in the U.S., as well asother marketing-related expenses included in selling, general & administrative expenses were100.2 million U.S. dollars in 2017. Nature of marketing Increases Awareness – Marketing increases awareness among people, as it buildspotentials customer who know all information about the company, i.e. products and offerings aswell. Most of the time people see advertisements and get recommendations but always do notbuy that products straight away. 2Illustration 1: Marketing investment of McDonalds
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