Marketing Principle of McDonald

Added on - 21 Jul 2020

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Marketing Principle
Table of ContentsINTRODUCTION...........................................................................................................................1MARKET AND SITUATION ANALYSIS....................................................................................1SWOT ANAYSIS...........................................................................................................................2CONCLUSION................................................................................................................................3REFERENCES................................................................................................................................4
INTRODUCTIONMarketing principle plays an important role in every business industry. With the help ofthis, organisation can identify different needs and wants of customers, also can produce highquality products and services according to market trends and requirements. There are four majorelements of marketing which are product, price, place and promotion (French and Russell-Bennett, 2015). These components help company in accomplishing its goals and objectives. Thisproject report is based on McDonald which is which is a fast food and hamburger restaurantchain of America. In this report, various environmental factors and SWOT analysis of thiscompany has been evaluated.MARKET AND SITUATION ANALYSISFor better success of business, every organisation firstly needs to analyse its marketplace. Through this company can evaluate different market trends, environmental factors andsome other important aspects, which can affect organisational performance. It is responsibility ofbusiness enterprise to consider various factors of environment while making their strategies andpolices. There are various internal and external elements of business environment which canaffect McDonald which are following as under:Internal factors:Components which can effect organisation internally and controllable in natureare known as internal factors. Some of them are discussed below:Customers:McDonald's have its various branches in all over the world. It provides itsservices to million customers. It is very much important for it to satisfy needs and demands of itsclients, otherwise it can not enhance its performance and growth.Products and services:Organisation provides a huge range of food items to its clients sothat they can satisfy their needs. It is necessary for this company to provide different tastes andnutritions in its products, this can help in attracting more customers.Competitors:There are various contenders of McDonald which are seeking a hugemarket share. It is responsibility of this company to identify its competitors and also determinetheir strategies, so that it can make better strategies as compare to its contenders. Through this,company can also make strong goodwill in market place (Czinkota and Ronkainen, 2013).1
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