Marketing Planning in Mc Donalds

Added on - Jan 2020

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Marketing Planning1
TABLE OF CONTENTSINTRODUCTION................................................................................................................................3TASK 1.................................................................................................................................................3a) Marketing planning......................................................................................................................3b) Importance of specific techniques for organizational auditing...................................................4TASK 2.................................................................................................................................................5The main barriers to marketing planning.........................................................................................5TASK 3.................................................................................................................................................7a) Formulate a marketing plan.........................................................................................................7b) Pricing policy within the marketing plan of Happy Meal...........................................................8c) Three advantages of marketing planning within the organization of McDonald's......................9TASK 4.................................................................................................................................................9a) The importance of ethical marketing...........................................................................................9b) Ethical issues in the consumer industry.....................................................................................10CONCLUSION...................................................................................................................................11REFERENCES...................................................................................................................................122
INTRODUCTIONTo create a marketing planning, there is necessary to make a business plan. This is developedfor the purpose of conducting advertising and ensuring efforts of marketing team in the promotion offirm for future. It also evaluates that marketing objectives will be achieved in given time period toaccomplish the organisational goals (Kerzner, 2013). Marketing plan analyses the customer’s needsthrough market research in order to fulfil the requirements of business. This plan generally includesprocess of determining market situation, sales forecasts, strategies as well as activities related to theproduct specific and market specific etc. In the present research, report will include marketingplanning, its perspectives and various strategies which are needed for such planning. For betterunderstanding of this report, easyJet Airline has been chosen. It is a British low cost airline carriercompany based at London Airport. In addition to this, present report will deal with the issues orbarriers which come at the time of conducting marketing planning. For this, McDonald's Happy Mealhas been been chosen for creating aqnd implementing the marketing plan. In further task, it willinvolve the formulation of marketing plan as well as strategic planning of the chosen organization.Moreover, report will describe about various ethical issues in context of marketing planning.TASK 1a) Marketing planningMarketing planningTo make a business plan, it is necessary to focus on marketing which should be effective as itenhances the profitability of organization. According to theBalmer(2011), states that, without thebusiness strategies the market plan can't be make so the company e needed a good marketing plan fortheir products and services (Balmer, 2011). This plan describes about various business strategies andcurrent position of the firm. Organization needs better marketing mix strategies to target consumersand achieve business goals as well as objectives. Marketing plan constitutes in a form of formalstructure but it can be used in both the informal and formal way to make it flexible. This plan is madeon the basis of previous financial position as well as future scope which can help business to enhanceprofitability. It includes several techniques that help business to utilize their resources in the best way.Two recent trends / perspectives in marketing planningTwo recent trends / perspectives in the practice of modern marketing planning are as follows:Customer Satisfaction: Direct motivation to the customers is a major key of success for theorganization. Firm can motivate their customers according to their convenience, quality, valueand their services (Greenberg, 2010. Business enterprise is offering good quality products atlow cost. This is because new trend is all about to attract large number of customers and satisfy3
them from products and services of business.Customer Retention:Today, companies need loyal customers who will remain with themlifelong. Through this, their profitability and market share will not be affected in future. Forthat, firm is satisfying their customers by charging low cost on their products as well asproviding some offers and vouchers so that customers can get attracted towards theorganization (Pagla and Brennan, 2014). To retain their customers, company should focus tomeet the needs, tastes, preferences and lifestyles of them. Through this, they can maintain theircustomers and increase their profitability on the regular basis.Two capabilities in the company needed for marketing planningTwo capabilities which are important for the organization to make planning of their futuremarketing activities are as follows:Low cost prices: Capability is one of the core competencies of an organization which helpsthem to expand their business. For example: Easy Jet is offering their services at low price ascompared to other airlines of Europe which benefits them as well as their consumers (Singhand Gupta, 2013). Low cost airlines have the potential to attract large number of customers andthey are able to expand their business.Promotional activities: It is also an essential part of organization as it helps to boost up theirprofits and extend their market share (Avlonitis and Giannopoulos, 2012). Promotional toolsincludes advertising, social media and print media which promote company in front ofcustomers to attract them as well as to retain them for a long run. This tool also helps inimproving the financial position of company.b) Importance of specific techniques for organizational auditingOrganizational auditing can be carried out through SWOT analysis. This is emphasis on thecapabilities and resources which are as follows:StrengthsLevel of brand loyalty is higher and it is the largest low cost airline carrier company in Europewhich is offering reliable offers to attract large number of customers.It renders air services in all over the European countries which extends the extensive networkand market share of the organization.It is one of the modern fleets of the Europe which leads to enhance its brand reputation thatmakes them popular in the Europe (easyJet, 2016).It is one of the company among the LCCs which introduces e- tailing which helps in obviatingintermediaries and various distribution costs.4
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