Marketing In McDonalds Assignment
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Added on 2020-01-21
Marketing In McDonalds Assignment
Added on 2020-01-21
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Marketing Principles
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Various element of marketing process .................................................................................11.2: Benefits and cost of a marketing orientation for McDonald..............................................2TASK 2............................................................................................................................................32.1: Show macro and micro environmental factors which influence marketing decisions.........32.2 Propose segmentation criteria to be used for products in different markets.........................42.3: Choose a targeting strategy for a selected product/service..................................................42.4: Demonstrate how buyer behaviour affects marketing activities in different buyingsituations.....................................................................................................................................52.5: Propose new positioning for as elected product/service......................................................5TASK 3............................................................................................................................................63.1: Product development to sustain competitive advantage......................................................63.2: Distribution strategies used by McDonald to provide customer convenience.....................73.3: Pricing strategies used by McDonald's to reflect objective and market conditions.............73.4: Integration of promotional activity to achieve marketing objectives..................................83.5: Additional elements of extended marketing mix for McDonald's......................................9TASK 4 ........................................................................................................................................104.1: Marketing mixes for two different segments in consumer markets with McDonald'sreference....................................................................................................................................104.2: Differences in marketing products and services to business rather than consumers.........114.3: Difference between international and domestic marketing in McDonald's case...............12CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................14
INTRODUCTIONMarketing principles can be defined as a process which is helpful in finding out the needsand requirements of the customers and accordingly providing them with solution in order toprovide them satisfaction. In this context, there are four elements involved which are product,price, place and promotion. These elements are helpful in carrying out market research so as toknow the requirements of customer. In addition to this, marketing principles are also helpful forthe organization in making effective decision regarding the changes which they should make ontheir product or services, in selecting most appropriate promotional strategy, etc. (Marketing atMacDonald, 2011). Present report is about McDonald's which has the largest chain of fast foodrestaurants and has more than 36000 outlets around the world (Grünig and Morschett, 2012).They understand their customers’ needs and wants and accordingly provide them services. Thisreport covers different process and concepts which are involved in marketing. Further, it coversthe use of targeting, positioning and segmenting. Lastly it also includes the use of marketing mixin different contexts.TASK 11.1 Various element of marketing process Marketing can be defines as the business or action which is helpful for the organizationsin introducing their products or services to the customers. Marketing is very essential in order toconvey the services and products provided by the organizations. In this context, there are mainlyfour elements involved which are: identifying the product, it refers to the item which has to besold actually. The product delivered to the customers should have minimum level of performanceotherwise even the best work done on other element would become useless (Ataman, VanHeerde and Mela, 2010). Next is fixing the price, this is referred to the value which is put for theproduct. There are many factors which are involved in determining the price of a product. Next isplace, it is referred to the point of sale. It is the selection of right location because of whichorganizations could make their product or services easily available to their customers. Last ispromotion, it involves all the activities in order to make customers know regarding the productservices provided by the firm. The elements of marketing process which are taken by McDonald is to determine itsbrand image. For instance, planning is one main element. Determination of developingorganisational objectives is all in the hands of McDonald. For the same, they are involve in1
market research as well. Decisions regarding market information are collected and analysed. Thesignificance of involving employees in the decision making is to make them feel motivated.Research is another element of marketing. With the help of various tools and techniques, markettrends and information are analysed for meeting various business needs (Shimp and Andrews,2013). Therefore, this fast food business is also involved in strategy formulation. The strategiesare designed in order to attempt the different functions in the organisation. These are planned inorder to meet the organisational objectives. SWOT Analysis of McDonaldFigure 1 SWOT analysis of McDonald(Source:Ericakloera, 2015)Theabove illustration depicts the SWOT analysis of McDonald. It shows how the stated strengths and weaknesses of this fast food Company help in leveraging its future opportunities and threats. These are assessed for identifying the future growth prospectus of the organization. PEST analysis of McDonald2
Figure 2PEST analysis of Mcdonald(Source: PEST analysis, 2015)From the above illustration, PEST analysis of McDonald has been analysed. This has beenmade in context to UK. It has helped in evaluating the external forces that affect the organizationand its working.1.2: Benefits and cost of a marketing orientation for McDonaldMarket orientation is considered as another tool which covers the major part of themarketing dimension. The term 'market orientation' is defined as the exercising of various toolsand techniques in the affairs of business. The motive behind the same is to meet the demand anddesire of the customers. Types of market orientation1. The Production ConceptAccording to this concept, McDonald’s goods are produced in large quantities. Massdistribution strategy is made where products are not distributed to a particular target market.Price is the main focus where they set efforts into production of quality product.2. The Product Concept3
According to this concept, McDonald’s put efforts into creation of quality product as thequality will help increase customers.3. The Selling ConceptAccording to this concept, McDonald’s sells with an idea that customers will only buyproduct as per company’s persuasion. They put into consideration but the only thing that isconsidered is selling to their customers.4. The Marketing ConceptAccording to this concept, McDonald’s marketing concept considers different approachat marketing which starts from identifying a target market. This is made by choosing the targetmarket and identifies the customers’ needs.5. The Societal Marketing ConceptAccording to this concept, McDonald’s societal marketing follows in line with themarketing concept. However, accomplishing needs of consumers is considered with respect topromotion which is required to be effectively made by the customers.According to the given case study, the major element which is considered by McDonald'sis the customers. Every plan made by this organization is related with the production anddelivery of food product which is admire and demanded by the customers. Therefore, branding isthe most dominant factor which is valued by the McDonald. The rationale behind choosing themarket orientation is to render various benefits to its customers. However, there are variousadvantageous and limitations which are related with the use and implementation of marketorientation. These are stated individually. The benefits of market orientation for McDonald are determined on the basis ofcustomers. Actions taken by this fast food company has to achieve the target in meeting thecustomers need. By utilizing the concept orientation, McDonald gain competitive advantage. Theeffective planning of market research helps the firm to know their customers properly therebythey stay ahead of their competitors always (Huang and Sarigöllü, 2012). According to the givencase study, the company always uses customer orientated approach. They achieve this target byanalyzing deep customer survey. This is a step taken by them to attain maximum sales and profitearning. By indulging in the same process, they gain the larger market segment. This is thereason why company is so successful in expanding its chains all over the world. 4
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