Marketing Principles of McDonald : Report
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Added on 2020-07-23
Marketing Principles of McDonald : Report
Added on 2020-07-23
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Marketing Principles
Table of ContentsINTRODUCTION...........................................................................................................................1TASK1.............................................................................................................................................11.1 elements of the marketing process........................................................................................11.2 Advantages and costs of marketing orientation....................................................................3TASK 2............................................................................................................................................42.1 Component of macro and micro environmental that affect marketing decisions.................42.2 Propose segmentation criteria utilized for products..............................................................52.3 Targeting strategy..................................................................................................................62.4 Customer behaviour influence on marketing activities.........................................................72.5 Suggest new positioning.......................................................................................................7TASK 3............................................................................................................................................83.1 Products development to sustain competitive advantage......................................................83.2 Distribution arrangement to supply customer convenience..................................................93.3 Explain how prices are set to reflect organisation’s objectives and market conditions........93.4 Promotional activity integration to attain marketing goals.................................................103.5 Evaluate components of extended marketing mix..............................................................11TASK 4..........................................................................................................................................134.1 Marketing Mix plan for two different segments.................................................................134.2 Differences in marketing products and services to businesses despite customer...............144.3 Causes why global marketing differs from domestic marketing........................................14CONCLUSION..............................................................................................................................15REFERENCES..............................................................................................................................16
INTRODUCTIONMarketing principle is a concept which establish the broadly agreed term upon core ofmajor production promotion planning (Tanner and Raymond, 2012). Various enterprises utilizethis technique to modify business performance of current product in market and to successfullylaunch new services and product in the industry. It is a practical process of marketing whichlessons and help in achieving goals and objectives of marketing through using marketingprincipal technique. Marketing principles carry main elements of marketing such as product,price, place and promotion that to expose business in market effectively. McDonald havemonopoly in food chain of restaurants that is leading market from more than decades.McDonald is one of most leading and largest food chain around the world which isserving more than 68 million consumers in everyday routine in approx 120 countries. McDonaldis popular for selling variety of food and beverages along with salads and ice creams.In this report, the study of process and concept of marketing principles and its benefit toenterprise would be done. Report will study macro and micro environment of company andanalyse idea and procedure of segmentation, targetting and positioning technique. Also it willstudy extended promotion mix elements and its utilization in different context.TASK11.1 elements of the marketing processAfter the process of production, the process of marketing is being analysed. Marketing isan essential process in order to launch product properly and attract targeted consumer and informthem about the features and facilities of product and services (Wood, 2012). This is significant toattract attention of consumers and aware and educate them about company and new strategiesproperly and make them purchase product through utilizing various marketing mix tools. In orderto attract them and inform them about product and influence consumers to purchase the product,proper use of marketing principles and marketing mix is necessary. Marketing mix are used forexecuting process of marketing process widely. Here are few marketing mix elements arementioned for marketing process:1
Source 1: Elements of Marketing, 2017Strategy – It is essential to build a proper strategies in order to make a proper marketingplans to make an impact of product among public. Organisation can make a propermarketing of services and goods through building creative and innovative strategy formarketing of existing or new product launch.Research – It is important for an organisation to build a definite marketing research ofmarketing environment and product launching strategies to have a concept and idea ofcustomer perception and climate of business industry and other that help in determiningsources and whole modes and techniques which should be utilizes in process of marketingof a specific product that would help in conveying message of company to targetedcustomer (Brunswick, 2014).Planning–This is an essential element of marketing principle. Making proper strategyfor marketing goods and services that will assist company in acquiring the properimplication of plans and strategies is required for McDonald.2
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