McDonald Marketing Essentials Report
Added on 2020-07-22
11 Pages3442 Words27 Views
Marketing Essentials
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Main roles and responsibilities of merchandising function..............................................1P2 Roles and responsibilities of Merchandising interrelates with other organisationalfunctions.................................................................................................................................4CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................8
INTRODUCTIONIn modern world, market competition is increasing every day which has became biggestthreat for all organisations. Now, there are are a huge number of new enterprises which has beenestablished with new technology and produce such innovative products which can attract manycustomers (Dibb and Simkin, 2013). It has become very tough for old companies to survive insuch competitive marketplace. For better growth they should adopt new marketing strategies andplans because with the help of this they can achieve competitive advantage within market place.There is most significant concept of merchandising namely marketing mix which includes 7elements. Those components can help organisation in achieving desired goals and objectives.This project report is based on McDonald's which is world's largest fast food restaurant chain. Itis an American restaurant which provides various kind of food items. In present time, it isfocusing on its marketing functions so that it can compete with its market competitors. In thisreport various roles and responsibilities of its merchandising department has been evaluated andtheir interrelations with other functional units has been discussed (Wirtz, 2012). TASK 1P1 Main roles and responsibilities of merchandising functionIn present time, due to globalisation and use of technology market competition has beenincreased. New entities come in market with huge technology and highly innovative productswhich easily gets customer attention. This has been put old companies in danger. To competewith new entities it is highly important for old organisations to make necessary changes in theirexisting strategies, plans, functions and policies so that they can lead their business to high levelof success. They can take help of marketing concepts to develop their current market position.Basically, merchandising is that aspect which helps in managing exchange relationship of buyerand seller (Brassington and Pettitt, 2011). This concept gives high importance to new markettrends, customer needs and demands so that company can produce its products and servicesaccording to those needs and demands. Without providing satisfaction to clients no enterprisecan generate Hugh level of profit and also can not achieve competitive advantage within marketplace. Merchandising department of any company gives high attention to their promotional andadvertisement activities because for business growth firstly it promotion of company is highlyrequired. People like to be part of that organisation which has high reputation in market place.1
Marketing team of McDonald's always try to identify exact need of customers so that it canproduce products according to them. So, it can be said that main function of merchandisingsection is to create, communicate and deliver organisational goods to end users so that they cancreate some value for customers. In modern time, needs and demands of clients are continuouslychanging which have become tough task for company to identify them. Marketing departmentconducts various market research which assist company in determining current trends of market.Different institutes and expert persons describes merchandising in different way. According toAmerican Marketing Association, ''Marketing can be defined as the activity, set of institutions,and processes for creating, communicating, delivering, and exchanging offerings that have valuefor customers, clients, partners and society at large''. Moreover, with the help of merchandising philosophy company can lead to high level ofsuccess and also can make effective decisions which can helps in accomplishing organisationalgoals and objectives in most effective manner. There are different concepts of marketing whichcan assist enterprise in achieving desired results and these are follows as under: Illustration 1: Five concepts of marketing(Source: Bhasin H., 2017)The production concept: This marketing concept was prevailed in 1920 which was therevolutionary stage of different industries. This concept states that organization should produceonly those products which have huge demand in market place and which can be produced byenterprise in most effective manner. Also, organization should be aware about the quality and2
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