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Marketing Principles McDonald's

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Added on  2020-06-04

Marketing Principles McDonald's

   Added on 2020-06-04

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MARKETING PRINCIPLES
Marketing Principles McDonald's_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1AC 1.1 The various elements of the marketing process..............................................................1AC 1.2 The benefits and costs of marketing orientation for McDonald's restaurant..................2TASK 2............................................................................................................................................2AC 2.1 Macro and micro environment factors which influence the marketing decision............2AC 2.2 Propose segmentation criteria to be used for products in different market....................3AC 2.3 Choose a targeting strategy of a selected product and services......................................4AC 2.4 Demonstrate how buyer behaviour affects marketing activities in different buyingsituations.....................................................................................................................................5AC 2.5 Propose new positioning for selected new products/services.........................................5TASK 3............................................................................................................................................6AC 3.1 Explain how products are developed to sustain competitive advantage........................6AC 3.2 Explain how distribution in arranged to provide customer convenience.......................7AC 3.3 Explain how prices are set to reflect an organisation objectives and market condition 7AC 3.4 Illustrate of how promotional activity is integrated to achieve marketing objectives....8AC 3.5 Analyse the Additional elements of the extended marketing mix..................................9TASK 4............................................................................................................................................9AC 4.1 Plan marketing mixed for two different segments in consumer market.........................94.2 Illustrate differences in marketing product and services to business rather than customer10Difference between B2B and B2C Marketing approach...........................................................10AC 4.3 Show how and why international marketing differs from domestic marketing...........11REFERENCES..............................................................................................................................12
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INTRODUCTIONIn this Investigation, we would discuss about to the explanation the various elements ofthe marketing process and also evaluation of the benefits and costs of a marketing orientation fora McDonald's restaurant firm. Furthermore, we have sowed micro and macro environmentfactors which influence the marketing decision of business. We would take a look at proposedsegmentation criteria to be used for selected products in different markets. We would havedemonstrated how buyer behaviour affects marketing activities in different buying situations.We will explain how distribution is arranged to provide to sustain competitive advantage.Ultimately, this investigation covers the plan marketing mixes for two different segmentation inconsumer marketing and how and why international marketing different from domesticmarketing as well.TASK 1AC 1.1 The various elements of the marketing processMarketing definition: American marketing association: Marketing is the activity, set of institution and processof creating, communicating, delivering and exchanging offering that have value forcustomers, client, partners, society at large(Aboody, Levi and Weiss, D., 2017).Chartered institute of marketing: Marketing is the management method, which isresponsible for recognising, anticipating and satisfy customer necessity to gain.The marketing elements of the marketing process is the divided into four parts which areall formulate for gaining your all targeted customers aims. In these some factors are performingconsistently. These all four steps are as following:sEnvironmental scanning: This approach defines about to, in the marketing process, it isnecessary to scan current scenario before having marketing process of a new product.There are many elements from which they can use their current marketing scanning toknow about to the current demands of the products in the market(Baldarelli, 2017).Segmentation: After conducting environment scanning, there are requirements of havingsegmentation of all the product which would be marketed by the company. They need toclassification of their product to targeted customers in order to accomplish there goalsand objectives effectively.1
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Targeting: The company need to target their customer in marketing process beforemoving forward to the product development and marketing of these products. There aremust be targeted their all customers in terms of having effective results of their marketingprocess(Bhojraj and Libby, 2015). Positioning: There must be a proper positioning of their product and services in themarket. In the approach company need to have position of their product and services inthe market in which they want to furnish their services.AC 1.2 The benefits and costs of marketing orientation for McDonald's restaurantMarketing orientation and competitive advantage: Having a marketing orientation ismajorly beneficial for McDonald's restaurant in terms of generating more marketingchain and customers in the current marketplace(Huynh, 2017). Marketing orientationprovides the customers to know about to the firm's products and service which isnecessary to get competitive advantage in the complex market nowadays. Corporationwould be able to introduce their best offers to their customers with the assistance oforientation which would make great competitive advantage for the firm.Customer satisfaction: This is the most essential part for every firm to gain moreportability and productivity within the company. McDonald's restaurant always try tomake their customer satisfy by providing their better product and services. Marketingorientation provides some important value by furnishing best services and offers to theircustomers to satisfy their needs and demands effectively.Service and customer care: In this approach, there are many of the elements in theMcDonald's restaurant which provides the best services to their customers more thantheir competitors in the market(Vann, 2016). Marketing orientation provides make thefirm to develop their product and services according to the customers demand and alsocreate value for customer care with the help of having feedback and providing quality ofproduct and services within the business. TASK 2AC 2.1 Macro and micro environment factors which influence the marketing decisionThere are two type of external marketing environment which are micro and macro, thesefactors are not in the control of marketers but they still making great impact on strategicmarketing strategy(Kravet, 2014).2
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