Report On Changing Trends In Marketing Planning Process|McDonald's
Added on 2020-01-28
15 Pages5628 Words40 Views
MarketingPlanning1
TABLE OF CONTENTSIntroduction .....................................................................................................................................31.1 The changing perspectives in marketing planning.................................................................31.2. McDonald's capability for planning its future marketing activity........................................31.3 Techniques for organizational auditing and for analyzing external factors that affectmarketing planning......................................................................................................................41.4 Organizational auditing and analysis of external factors that affect marketing planning in agiven organization .......................................................................................................................52.1 Main barriers to marketing planning......................................................................................62.2 Organizations may overcome barriers to marketing planning...............................................73.1 Marketing plan for a product or a service of your choice......................................................73.2 Importance of marketing planning in the strategic planning process for an organization.....83.3 Techniques for new product development.............................................................................93.4 Recommendations for McDonald's pricing policy, distribution and communication mix....93.5 Factors affecting the effective implementation of the marketing plan ..............................104.1 Explain how ethical issues influence marketing planning ..................................................104.2 Organizations respond to ethical issues...............................................................................114.3 Consumer ethics and the effect it has on marketing planning.............................................11Conclusion.....................................................................................................................................12References......................................................................................................................................132
INTRODUCTION In the present scenario, businesses are required to develop an effective marketing planplans in order to achieve higher sales and profits. Market Marketing planning can be defined asthe process in which an organization identify identifies its current market position and developmarketingselling, advertising and promotional strategies for future (Teeple, 2016). The reasonwhy this marketing plan is considered as an important aspect of business because is that itfocuses on the issues that are linked with products, price, place and promotion. The presentreport depicts the changing trends or perceptive in the process of marketing planning. In additionto this, it also highlights various techniques of organizational organization audit and analysis ofexternal factors that affects the marketing plan of McDonald's. Other than this, the present studyalso explains techniques of new productproducts development and ethical issues which influencethese plans.influences marketing plan of .1.1 The changing perspectives in marketing planningMcDonald's is one of the most popular and renowned chain of hamburgers that whichoperates in many countries of the world. In olden days, this the brand used use to market all itsproducts and services with the help of traditional marketing tools. Further the organization usedto display its advertisement on television and newspapers in order to attract more and morenumber of customers. withWith the changing perceptive in their marketing planplanning,McDonald's made some changes in the process of advertisement and promotion (Vrontis andPavlou, 2008). Along with this, the concept of marketing has been changed for the brand.Inearlier days, plans were developed to push its products and services in market but in currentscenario they focus on pulling the customers towards. Earlier the marketing plan for McDonald'swere developed to increase profits but now they are being manufactured developed to gainhigher degree of customer satisfaction which will directly results in higher profits (McDonald'sUK, 2016). On the other hand, in the modern era, internet have been has emerged as one of themotsmost potential tool to market products and services. The organization has also started usingtools such as mobile marketing, email marketing, social media marketing etc. (Peattie and Crane,2005). Therefore, it can be stated that along with the changes in ing perspective of marketingtrendsplanning, McDonald's strategies has also changed. This has resulted in creatingin creatingneedsneed and demands demand of its products among the people in market. 3
1.2. McDonald's capability for planning its future marketing activityAt the time of carrying out marketing activities, McDonald's is required to arrangedifferent kind of financial and human resources. Employees play very important role in thedevelopment and implementation of this the marketing plan developed by the organization.McDonald's has have a team of highly skilled and creative personnel's who which can carry outeffective marketing activities in future (Zineldin and Philipson, 2007). The organization is aleading brand of in hamburger in the industry of the world and it is only because of its strongstrong selling strategymarketing. Along with the passage of time, the marketing team ofMcDonald's has been developed in a very effective manner. Human resources haveresourceshave the ability abilities to use both modern as well as traditional marketing tools. Other thanthis, the organization is also financially very strong.A large part of their its revenuesis areinvested in activities such as advertisement, promotion and marketingselling of all its productsand services. The competition among businesses in fast food industry is getting more and moreintense. McDonald's is facing tough competition from brands such as Subway and Burger King.Therefore, it can be stated that the organization and its resources are capable enough to attractnew customers and retain their old ones with its marketingselling activities (Cravens and Piercy,2006). In addition to this, with the help of financial and human resources,theresources, theorganization can develop developed creative plans for future which can assist in maintaining itscurrent market share. 1.3 Techniques for organizational auditing and for analyzinganalysing external factors that affectmarketing planningMcDonald's can use various kind of tools and techniques to carry out their its audit. Oneof the best among thesethose is SWOT analysis. Further, it is very useful in identifyingidentifying strengthstrengthens, weaknesses, opportunities and threats of the brand.Organization’s s audit can be also carried out with the help of technique such as Value chainanalysis. Further in this, the brand will be required to evaluate their its primary and secondaryactivities that which can help in adding more value to their its final product (Hutt and Speh,2005). Operations, marketing, inbound and outbound logistics are the primary activities ofMcDonald's. On the other hand technology, human resources, infrastructure and procurement areincluded in its secondary activities. The technique of porter five force or Pestle analysis can be4
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
Marketing Planning of McDonald's | Reportlg...
|18
|6723
|28
Towards an improved understanding of marketing planning in Applelg...
|12
|3871
|142
Marketing Planning of Britvic Company - Reportlg...
|14
|4449
|45
Marketing Planning Assignment : | River Islandlg...
|20
|5584
|768
Study Of Nokia | Concept Of Marketing Planninglg...
|14
|5882
|53
Why Marketing Planning is eXECUTIVE?lg...
|16
|5030
|462