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Marketing Function for Wimpy Based on MacDonald

   

Added on  2020-06-03

11 Pages3061 Words230 Views
Marketing Essentials

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1P1 Roles and responsibilities of marketing function for Wimpy based on MacDonald.............1M1 Analyse the roles and responsibility of marketing in the context of marketing environment.....................................................................................................................................................2P2 Explaining how roles and responsibilities of marketing related to wider organisationalcontext providing examples for McDonald’s..............................................................................3M2 Analysing the importance of the interrelationship between the marketing and otherfunctional units of Wimpy..........................................................................................................5D1 Analysing and evaluating the key elements of marketing functions and how theyinterrelate with other functional units of Wimpy........................................................................6CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................8

INTRODUCTIONMarketing is the influential tool that helps the business organization to expandextensively. They are required to increase the sales volume, long-term growth, customersatisfaction and stability in this competitive market (Dimitrova and MacKay, 2017). It is the waythrough which firm sale their product and services to the customers by keeping their values andbelief with them. Marketing function helps organization in identifying and sourcing potentiallysuccessful products for the marketplace. Moreover, it comprise of the promotional activities thathelp managers to differentiate their products from similar looking. Key function that are involvedin the marketing function are market research, plan, and product development. Along with this, italso comprise of making planning and strategies related to advertising, customer service,promotion, public relations and sale-distribution. Following report is about the Wimpy which is an iconic British brand serving fast-food inLondon. The company is planning to expand in UK for which they require marketing details. Forthis, roles and responsibilities of marketing function are explained for the company throughexamples from McDonald’s. Further, the report comprise of the marketing environment,interrelationships between marketing and other functional units are analysed. At last, keyelements of the marketing function along with functional units are explained relating it toWimpy. P1 Roles and responsibilities of marketing function for Wimpy based on MacDonald.Being a junior marketing consultant of Wimpy, that has desire to expand in the UKmarket but for that there is need to understand the roles and responsibilities of the marketingfunction. 1.Profit Maximization: For any business expansion there is need to increase profit level ofthe Wimpy. It is major issues faced by the company (Savelyeva, and et. al., 2017). Forexample, McDonald earns it profit as it has many branches and customer that highlyprefer its product. 2.Promoting brand: The most important feature of marketing is brand promotion. In orderto build effective and long-term brand image, firm should make progress on theirstrategies and planning that will to promote the brand of the company. Ray Kroc haseffectively promoted the brand image of the company and made it to the top list in fastfood industry. 1

3.Sustaining in the market: In simple words understanding the competition, market andenvironment. There is great need to sustain in market as once achieved the firm will havesustainability. McDonald have to make many changes in their strategies, planning andapproaches to sustain in market. It also requires brand image. 4.Market expansion: In order to earn more profit, gain customers there is need of marketexpansion. Before expansion the organisation must make marketing mix and shouldunderstand the environment so that they may not affect the firm operation. Effectivestrategy, customer satisfaction and better planing made McDonald to expand all overworld (Krumova, Paunova and Yotova, 2017). 5.Importance of market research: Ensuring that product offerings must be quality andquantity wise. Without market research products can not be sold to the customers.McDonald's have expanded their business by understanding the competitive market. 6.Understanding objectives of the firm: Organisation must understand their objectives andshould adopt them using the values, belief and culture. McDonald’s have achieved itmilestones as they were attached to their objectives which promoted their growth, profitand sustainability. 7.Introduction of new products and services in market: Customer's get bored with the sameproducts. They require innovation and inventions in the food style so that they can getattracted towards the fast food (Montecchi and Nobbs, 2017). From time to timeMcDonald's has introduced new services and product to influence and change customersperception related to fast foods. 8.Time, place and ownership utilities: The goods and services must be present whencustomer requires them. These are the basic requirement of the marketing function.McDonald’s has never dissatisfied its customers in any aspects. They remained innovateand served their customers. M1 Analyse the roles and responsibility of marketing in the context of marketing environmentMarketing cannot be completed without analysing the marketing-environment. It willdirectly and indirectly affect and influences the Wimpy's capability to undertake its businessactivities. These are the forces and factors that affect the ability and capability to establish better2

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