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Marketing Essentials Assignment Sample PDF - McDonald's

   

Added on  2020-12-30

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Marketing Essentials

Table of ContentsINTRODUCTION...........................................................................................................................3MAIN BODY...................................................................................................................................31. Concept of marketing with current and future trends.........................................................32. Overview of various processes of marketing.....................................................................43. Role and responsibilities of marketing manager................................................................54. Marketing influences and interrelates with other functional department of company.......65. Value and importance of marketing in organisation..........................................................76. Significance of effective interrelationship between various department...........................77. Compare the ways of application of marketing mix by different organisations................88. Produce a basic marketing plan for company...................................................................11REFERENCE.................................................................................................................................15

INTRODUCTION Marketing is an art as well as science of understanding the needs and wants of the humanbeing. It deals with the promotion and development aspects of the products. This report is carriedon McDonald's which is the largest fast food giant in the world. Its products are as follow:burgers, sandwich, coffee, puffs etc. This report will cover basic marketing plan which is basedon the launch of new product by the fast food giant. It will showcase the budget required foroverall marketing activities such as promotion, implementation of strategies etc. It will also tellabout the specific roles and responsibilities of the marketing manager and discussion regardingthe marketing mix in the marketing concept. It is important to understand the marketingprocess(Baker, 2016). MAIN BODY 1. Concept of marketing with current and future trendsMarketing essentials is termed as dividing the marketing into the different variables andcomponents such as discussion of the marketing mix, future and current trends in the marketingand formation of the basic marketing plans. According to the Williams, marketing is consideredas the study and conceptual management of an exchange relationship. The marketing departmentof any organisation is to create, retain and satisfying the customers. Hence, marketing essentialsis considered as the significant component of the marketing. In context with the McDonald's, it isimportant to discuss the role and responsibilities of the marketing manager of the company.There are five marketing concepts which can be understood by the following points:Production concept: This concept is based on the idea that customers favour the productsthat are affordable. For this, companies do various efforts to improve their distribution andproduction process in order to enhance business efficiency and to provide products to customersat lower prices. Product concept: As per this concept, consumers only favour those products which arehigh in quality, performance and with innovative features.Selling concept: According to this concept, consumers buy only those products whencompany do promotional efforts to sell the same. Main focus of management remain to createsales transaction rather than create long term relationship with them.

Marketing concept: This concept is based that achievement of company goals andobjectives rely on identify needs and wants of target customers. Societal marketing concept: According to this concept, marketing strategy of companyshould deliver value to its customers. this concept put human welfare on top before anything. There are the different current trends running in the marketing now a days: Globalization: Marketing manager is facing an issues regarding the changes in the globalscenario of the marketing aspects. Not only in global market, but companies are facing cut-throatcompetitions in their home market as well. Marketers must learn how to work with the new anddifferent types of the markets and scenario to gain productivity and efficiency. Technology: Technology has made the marketing conditions and scenario more relevant andcomfortable. Various activities like sales, marketing and distribution has transformed by thecomputers, internet and other related technologies. It has made CRM related activities easilyaccessible and reliable(Fabos, 2018). Personalization: Increased competition and current trends in the technologies, especiallyinternet , provides customer to demand what they want or desires. In this modern era, internethas become easily accessible on the computer, mobile and other devices to search and findinformation relating to any new and launched products(Campbell, 2015).Future trends of the marketing is depends upon the up-gradation and transformation of thepresent trends such as technology, personalization and integration etc.2. Overview of various processes of marketingIn context with the McDonald's, here is the overview of the marketing process which will help inthe discover the unfulfilled needs and wants and bring the products in order to satisfy thoseneeds. It is considered as step by step process with the four important points are as follow: Situation analysis - It is the first and foremost stage of the whole marketing process.This process starts with a kind of situation where company needs to find the opportunity tosatisfy unfulfilled customer wants or needs. In context with McDonald's, company needs toanalyse their own capabilities and abilities to understand the situation and analyse it according tothe customer expectation and needs. The situation analysis should be taken into consideration forpast, present and future needs and wants. To analysis and find out any gap left, PESTLE andSWOT analysis is mandatory to be analysed and evaluated.

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