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MC Donald's 5 TASK 14

   

Added on  2020-01-07

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MARKETING PRINCIPLES

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................4TASK 1............................................................................................................................................41.1 Elements of Marketing Products......................................................................................41.2 Benefits and cost of marketing orientation for MC Donald's...........................................5TASK 2............................................................................................................................................52.1 Macro and Micro environmental factors, influencing the marketing decisions...............52.2 Segmentation criteria for products in different market....................................................62.3 Targeted strategy..............................................................................................................72.4 Buyer behavior affecting the marketing activities............................................................72.5 New positioning of the product........................................................................................8TASK 3............................................................................................................................................83.1 Development of product to sustain competitive advantage..............................................83.2 Distribution of the product...............................................................................................83.3 Price setting to meet the objectives and market situation.................................................93.4 Promotional activity to integrate marketing objectives....................................................93.5 Additional elements of the extended marketing mix......................................................10TASK 2..........................................................................................................................................124.1 Marketing mixes for two different segments in consumer markets...............................124.2 Differences in marketing products to businesses rather than consumers.......................124.3 Difference between international marketing and domestic marketing...........................13CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................14

ILLUSTRATION INDEXIllustration 1: Marketing p's...........................................................................................................11

INTRODUCTIONMarketing Principles define the process of trading goods and services of a company. It isa procedure of conducting the sales of a particular product. Most of the organizations utilizethese principles in order to regulate the current market needs and situations in order to launch anew product into the market. It also helps to control the present performances of their products,including the recent consumer demands (Linton, 2016). In this report, McDonald's is the chosenorganization of UK to determine the need and importance of their marketing principles. MCDonald's is one of the largest hamburger food chains in the world, which is currently servingaround 68 million customers on daily basis. It has more than 36,000 outlets, leading successfullyacross 119 countries. TASK 11.1 Elements of Marketing ProductsIn an organization, marketing is basically a process of exchanging goods and services toconduct an ultimate procedure of sales. In McDonald, this management process is followed tosuccessfully determine the present market needs and demand of the consumers (Leonidou,Katsikeas and Morgan, 2013). It further helps in ensuring the current level of customersatisfaction from their existing product. It also helps the firm to launch a new product into themarket, as per the latest scenario. There exist four main elements to effectively carry out thisprocess-1.Analysing the current market situation- It is in regard to determine the present needs anddemand of the consumers. MC Donald's conduct audit programs to analyse the currentconsumer preferences and trends by using various strategic tools of PESTLE and SWOT.It helps in stating the required objectives for the future of the company.2.Building a market strategy- Once after analysing the present market preferences, MCDonald's plans to build a strategy in order to successfully meet the above statedobjectives.3.Deciding market mix- It generally involves the four P's of marketing mix, whichconcludes the requirement of introducing a new product in the market or makingnecessary changes in the existing one, deciding its place, fixing the price and promotingthat particular product to the consumers by using various means or sources.

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