Marketing Principles and Practice

Marketing Principles and
Practice

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Explain key marketing concepts and terminology applicable to McDonalds’s.....................3
Identify marketing strategies and programs that helped McDonalds’s in achieving their
objectives................................................................................................................................5
Explain two of the marketing concept and principles used by the McDonalds’s for managing
their daily organisational operations......................................................................................6
Explaining the relationship of marketing function with other functional areas of McDonalds.......9
CONCLUSION & RECOMMENDATIONS................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
Marketing is an important function with the help of which organisation aims to achieve their
overall objectives. Various marketing principles and practices facilitate them to formulate
strategies with which they can achieve their marketing objectives (Hollensen, 2019). Fast food
industry is rapidly increasing with the changed taste and preference of the consumers. It is
considered to be a type of mass produced food that is for commercial resale. It includes various
precooked means which has various adverse impacts on the health of the consumers. But the
changing lifestyle people prefer fast food due to which the industry is growing rapidly. The
restaurant offering such food promotes their offerings with the aim of creating awareness among
the customers and for achieving their organisational objective. In this report, McDonald's is
taken into consideration which is one of the largest fast-food chains operating in 119 countries
throughout the world. They have been offering a wide range of food products with the aim to
satisfy a large number of customers. In this report various marketing concepts and terminologies
used by McDonald's are discussed along with various strategies and programs. Apart from this
various Marketing concepts and principles used for managing daily operations by McDonald's
are discussed later in the report.
MAIN BODY
Explain key marketing concepts and terminology applicable to McDonalds’s
The marketing concept is the strategy with the help of which the needs and wants of the
customers can easily be satisfied by the organisation. Along with this they can achieve their
organisational objective as well such as increase in sales, maximisation of profits etc. The five
key marketing concepts include:
 Production concept: According to this concept the consumer prefers those products
which are easily and widely available and ar quite inexpensive. Due to this in this concept
the focus of the organisation is on operations with mass production as it facilitates them
to reduce their cost (Philip, 2017).

 Product concept: The product concept is the one which focuses upon the fact that the
customer considers the quality of the product, its performance and innovative features at
the time of making purchases. Along with this it supports that they becomes loyal if such
products are provided to them with a wide variety.
 Selling concept: In this concept it is assumed that the customers buys those who which
are highly promoted and are sold aggressively by the companies. In this competitive
business environment the companies such as McDonald’s need t focus upon marketing
along with selling (Madhani, 2017).
 Marketing concept: The marketing concept relies upon the pull strategy in which the
customers are attracted towards the products by creating significant awareness of the
products. The organisation focuses upon creating their brand strong as with this they can
make the customer to choose their product over other.
 Societal marketing concept: This is the concept with the help of which the organisations
emphasis on needs and wants of the customers so that better value can be delivered to
them and competitive edge can be taken over.
For ensuring the success of the business various marketing terminologies and strategies are
adopted by the companies so that they can ensure their survival and accomplishment of their
business objectives. The McDonald’s has been using such terminologies which are given below:
 Product Strategy: The product strategy is associated with what the product of the
organisation must achieve ad how it contributes to the accomplishment of their
objectives. It outlines the strategic vision of the company for their offerings and their
related strategies such as the target market for the product, features of the product etc.
McDonald’s focus upon the development of their product as their product strategy in
which either changes are made in existing products or new product are launched by them
in their restaurant as per the taste and preference of the customers. For some of their
products such as hamburger, cheeseburger their product strategy are permanent while for
seasonal product temporary product strategy are adopted by them as with they aims to
give their customer a new experience (Grant, 2017).
 Branding: The branding is related with the branding decisions which consist of four
crucial decisions such as positioning of the brand, selection of the name of the brand,
brand sponsorship and development of brand. It is considered to be a long term plan with