Marketing Management - McDonald's
Added on -2021-02-21
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MARKETINGMANAGEMENT
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1PART 1............................................................................................................................................11.Marketing philosophies and the strengths of the organization's strategy in delivering valueswith respect to existing brands and the customers.......................................................................1PART 2............................................................................................................................................4Evaluation of trends within the marketing environment and situational analysis.......................4PART 3............................................................................................................................................8STP...............................................................................................................................................81.Brand building..........................................................................................................................91.Shaping the market offering...................................................................................................111.Implementation and control....................................................................................................12CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................15
INTRODUCTIONMarketing management can be defined as organizational discipline that focuses onmarket orientation, practical applications, methods and techniques that are used within anorganization. Marketing management helps an organization to manage their activities andresources. Marketing management is used to facilitate functions and activities that are involvedin distribution of services and goods. There are various kinds of marketing concepts that can beused or applied by organizations in different business situations. It is important for the companyto understand impact of both internal and external environmental factors that can impactmarketing activities of an organization. McDonald's is a fast food organization with globalpresent. It is mostly famous for hamburgers, cheese burgers and French fries. It is one of thelargest private sector organization to employ more than 1.7 million employees'. It has more than1270 stores present in UK itself (Kane, 2016). This assignment will focus on marketingimplementation of market opportunity to launch a brand extension into customized burgercategory to be launched in China. This assignment will also focus on evaluation of marketingmanagement applications, philosophies and concepts, evaluation of external environment anddynamics and trends within the marketing environment by underpinning various opportunitiesand challenges for a new brand extension. Based on above points appropriate recommendationsfor a brand extension in order to build a sustainable corporate brand had also been providedwithin the assignment.PART 1Marketing philosophies and the strengths of the organization's strategy in delivering values withrespect to existing brands and the customers.Marketing management philosophies are the essential ideas for the organization for performingmarket activities. Here are the most famous marketing management philosophies -Production Philosophy: This concept indicates that the priority of the customers will be thoseproducts which are easily availability and not much expensive. The major focus of the managersin this are low cost, efficiency in production process and distribution on large scale. McDonaldprovide their products and very low prices and the availability of their products are in everymajor country. It will help the company to attract more customers which indirectly create valueof the product of the company.(Tronvoll, Barile and Caputo, 2018).1
Product Philosophy: In this concept the purchase will focus on the items which are havingbetter quality and attributes instead of some standard product. The companies which gives betterquality, better specification and performance in their products follow this philosophy. TheMcDonald provide the best quality of fries, burgers and other products to their customers. Thisphilosophy will create value by gaining competitive advantages.Selling Philosophy: This concept of marketing management philosophy basically express thepossibility of that the customers won't purchase sufficient products from the business until thecompany opt for promotional activities and selling endeavors. Mc Donald has a unique andcatchy slogan “I am loving it”. The company to many promotional activities like televisionadvertisement, newspaper and magazine advertisement moreover the company also sponsorsshows like Wwe and many more. This will deliver the value as it increases the brand awarenessof the companyMarketing Philosophy:Marketing philosophy has evolved over the time. This concepthighlights the importance of analysing the demand in the market and produce the products andthe services that fulfill the demand of the customers in better manner than the customers. Thisphilosophy is totally different form the manufacture concept. Mcdonald provide various types ofburgers in the market but the company make sure to analysis the demand of the products whichhelps the company to meet the demand in the market with minimum wastage. This philosophywill deliver its value by increase the profitability of the company (Miles and et.al., 2015.).The Societal Marketing Concept: This concept is the branch of idea of Corporate socialresponsibility. The Societal marketing concept forecast that the firm should practice thepromotional activities considering the need of the customers, condition of the company and mostimportantly the general interest of the people and the society. McDonald is the first company infood and restaurant sector to reduce the greenhouse gas emissions moreover the company alsopromote those supplier which take sustainability initiatives. The value created by this philosophyis, it increases the goodwill of the company.Here are those business and marketing philosophies through which the company delivers valuesto the customers -Holistic marketing approach: A business mostly uses this type of Marketing approaches whenall the characteristic of the marketing strategy of the company is interlinked. In this marketingapproach the business take marketing decisions and implement the strategy based on the2
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