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MICRO AND IvIACRO ENVIRONMENTAL FACTORS FOR THE PROCESS OF MARKETING

   

Added on  2020-12-18

13 Pages4984 Words343 Views
Marketing Principles

CONTENTSContents...........................................................................................................................................1INTRODUCTION...........................................................................................................................1LO 1 UNDERSTAND THE CONCEPT AND PROCESS OF MARKETING..............................11.1 EXPLAIN THE VARIOUS ELEMENTS OF MARKETING PROCESS...........................11.2 EXPLAIN THE BENEFITS AND COSTS OF A IVIARKETING ORIENTATION FORA SELECTED ORGANISATION..............................................................................................2LO2 BE ABLE TO USE THE CONCEPTS OF SEGIVIENTATION, TARGETING ANDPOSITIONING................................................................................................................................32.1 SHOW THE MICRO AND IvIACRO ENVIRONMENTAL FACTORS THAT EFFECTTHE MARKETING DECISIONS...............................................................................................32.2 PROPOSE SEGMENTATION CRITERION TO BE USED FDR PRDDUCTS INDIFFERENT MARKETS............................................................................................................32.3 CHOOSE A TARGETING STRATEGY FOR A SELECTED PRODUCT OR S£RVIC£.42.4 DEMONSTRATE HOW THE BUYER BEHAVIOUR EFFECTS MARKETINGACTIVITIES IN DIFFERENT BUYING SITUATIONS..........................................................52.5 PROPOSE NEW POSITIONING FOR A SELECTED PRD DUCT OR SERVICE...........5LO3 UNDERSTAND THE INDIVIDUAL ELEMENTS OF EXTENDED MARKETING MIX53.1 EXPLAIN HOW PRODUCTS ARE DEVELOPED TO SUSTAIN COMPETITIVEADVANTAGE............................................................................................................................53.2 EXPLAIN HOW PRICES ARE SET TO REFLECT AN ORGANISATION’SOBJECTIVES AND MARKET CONDITIONS.........................................................................73.4 ILLUSTRATE HOW PROMOTIONAL ACTIVITY IS INTEGRATED TO ACHIEVEMARKETING OBJECTIVES.....................................................................................................7LO4 BE ABLE TO USE THE MARKETING MIX IN DIFFERELJT CONTEXTS....................8a. PLAN MARKETING MIXES FOR TWO DIFFERENT SEGMENTS IN CONSUMERMARKETS..................................................................................................................................8B. ILLUSTRATE DIFFRENCES IN MARKETING PRODUCTS AND SERVICES TOBUSINESS RATHER THAT CONSUMERS............................................................................9c. SHOW HOW AND WHY IfJTERfJATlOfJAL IVIARKETING DIFFERES FROMDOMESTIC MARKETING........................................................................................................9

CONCLUSION..............................................................................................................................10Dominici, G. (2009). Frpm marketing mix tp e-marketing mix: a literature overviewand......11

INTRODUCTIONThe marketing is the process of communication with the target markets, suppliers, and society anddelivering products and services in order to deliver to the needs and interests of the people. The study basicallyinvolves at discussing the marketing environment of the organization which in this case if McDonald's is a globalfast food giant with operations in around 118 countries and operates through more than 30000 restaurants. The mainproducts offered by the company are burgers, pizzas, soups, salads, breakfast meals, desserts, beverages, etc. Thestudy basically focuses on the strategies used by the transition in order to meet the objectives and goals set by thetop management of the organization. It focuses on the targeting and positioning I n order to develop anunderstanding pf the target markets, Also the various elements of the marketing my are discussed with a focus ongaining an edge over the other players in the industry.LO 1 UNDERSTAND THE CONCEPT AND PROCESS OF MARKETING1.1 EXPLAIN THE VARIOUS ELEMENTS OF MARKETING PROCESSMcDonald's is a leading global fast food giant with focus on customer satisfaction. Thus the marketing,which is the process of communicating and delivering meaningful offerings to meet the needs of stakeholdersincluding customers, suppliers, society, etc., at Me Donald’s is based on the overall marketing strategy andmarketing mix (Dhavale, 2009). The markets ng mix applies globally with necessary variations to suitthe local area where it operates. The marketing mix of McDonald's consists of mainly four elements which areaimed at achievement of the overall marketing objectives of the company.Product- the main product provided by the company to the target customers is classifies as food oreatables and drinks or beverages. However the product may vary in the countries as per changes in culture, laws,tastes and preferences of the target customers. The company is famous for its burger while the other productlines involves salads, shakes, sandwiches, Snacks or breakfast menu, Chicken or fish, Beverages, etc. the companyis committed to please the target customers through continuous inn ovations in the products and new productlines like for the grow In EpnEerns of health conscious people (Pauline, 2015).Price- the pricing denotes the strategy underlying in deciding the prices for the products offered by thecompany. The company uses the Psychological pricing by providing discounts on purchase of meals orcombinations of products, through the display on the order screen or Kiosk. The psychological prices includepricing that appear as low prices like 99 in place of 100.This helps in driving the customers to buy meals orcombos in place of individual products and positively impact the sales volumes.Place- this indicates the place from where the company products are distributed to the customers, Theproducts are offered through the Mc Donald’s restaurants mainly which run through staff or customer operatedKiosks. Apart from this the company products can also be ordered by the customers through use of mobile3

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