Marketing Principles: Elements, Benefits, and Strategies

MARKETING
PRINCIPLES

Table of Contents
INTRODUCTION.......................................................................................................................................3
TASK 1.......................................................................................................................................................3
1.1 Elements of marketing process..........................................................................................................3
1.2 Evaluate the benefits and cost of marketing orientation.....................................................................4
2.1 Micro and macro environmental factors............................................................................................4
2.2 Propose segmentation criteria............................................................................................................5
2.3 Choose targeting strategy..................................................................................................................5
2.4 Buyer behavior affects marketing activities in different situation......................................................5
2.5 Propose new positioning strategy for new product/services...............................................................6
3.1 How product/services are developing to sustain competitive advantage............................................6
3.2 Explain distribution arrange for customer convenience.....................................................................7
3.3 How price set to reflect an organization objectives and market conditions........................................7
3.4 Promotional activity to achieve marketing objectives........................................................................7
3.5 Additional marketing mix for McDonald..........................................................................................8
TASK 2.......................................................................................................................................................8
4.1 Recommend marketing mix for two different segments....................................................................8
4.2 Difference in marketing products and services to B2B and B2C.......................................................9
4.3 Difference between international marketing and domestic marketing and strategy to develop market
in foreign market.....................................................................................................................................9
CONCLUSION.........................................................................................................................................10
REFERENCE............................................................................................................................................11

INTRODUCTION
Marketing principles are the fundamental tool which helps to achieve desired outcomes
of the business. It includes various methods through every business perform distinctive activities
to attract potential customers (Kubacki, Rundle-Thiele and Buyucek, 2015). Present report is
based on McDonald which provides food products in different parts of the world. Present report
covers various elements of marketing process which follows by cited firm. Furthermore, it
explains about benefits of marketing orientation and cost benefits for the organization. Moreover,
it covers macro and micro environmental factors which affects to the business environment. In
addition to this, it covers distribution arrangement of the business which is can be convenience to
every customer. Beside this, report analysis additional elements of marketing mix for the chosen
enterprise. At last, it covers plan and recommend mixes for the two different segments in
consumer markets. In respect to this, it explains difference between international and domestic
marketing strategy.
TASK 1
1.1 Elements of marketing process
Marketing of the McDonald considered various activities which helps to achieve
competitive advantages. In this context, includes product design, pricing strategies and
advertising (Strauss, 2016). Theses aspects can be done by process of marketing which includes
various elements. Hence, it helpful to achieve success of the cited firm. In respect to this, below
are the elements considered in marketing process of cited firm:
 Research: In order to achieve competitive advantage, McDonald want to
introduce new product in marketplace. In this context, first thing that can be done
by the business is research. In this, they identified actual needs and requirements
of the market. In addition to this, company find that what thing is the best for
achieve targets of the organization (Lefebvre, 2013).
 Strategy: Once McDonald find their data, they can make strategy for standing
product in marketplace. It will help to beat with competitors and make success in
the market. After research, the business design about the strategies which assist
to achieve goals and mission.
 Planning: After determining strategy, cited firm can plan for development of
product. It includes sales forecasting, financial planning and communication
strategy which defines how to achieve business goals. It also tracks with time to
time so that organization cannot fail to achieve business targets (Gordon, 2013).
 Tactics: At last element, organization determine where planning is to be
implement and what circumstances would be taken. It will aid to McDonald as
they easily compete with the competitors and attract potential customers.
1.2 Evaluate the benefits and cost of marketing orientation.
Marketing orientation

Marketing orientation is a model through every business can focus on delivering products
design according to customers’ requirements. It helps to complete their needs, wants and desires
through offering them effective product and services. McDonald conduct market research
through they can satisfy customers’ needs which is main motive of their organization. It helps to
them to make better position in the market and enhance brand value of their products (Tournois
and Aoun, 2012).
Benefits and cost marketing orientation
Marketing orientation helps to attract customers easily and it make focus on customers’
needs. This means it assist to McDonald that they can match products with customers’ needs and
satisfy them easily. In addition to this, it is beneficial to them as they can reduce their expenses
which increase their cost. With the help of marketing orientation, enterprise concentrate on
customers’ so that they no need to negotiate customers. All these aspects help to them to make
long-term profitability in the business. Thus, they can occur more profits for their firm which
helps to reach for the vision of the company (Walker, 2015.).
2.1 Micro and macro environmental factors
There are two types of environmental factors which affects to the business such as micro
and macro. Micro factors create impact on the organization within the firm and macro factors
affects to the enterprise outside the business. In term of Micro factors, below are the elements
includes which create impact on the McDonalds operations:
 Suppliers: Suppliers have power to control success of the business because they provide
raw-material to McDonald. Thus, the cited firm need to make relations with suppliers so
that they can get raw-material time to time (Morgan, 2015).
 Customers: Ultimate goals of the business is to satisfy customers’ needs and
requirements. In this context, McDonald have direct impact towards the business
operations. This is because, when customers satisfying they buy products and services
again and again.
On the other hand, below are the macro factors which affects to the business operations:
 Political factors: Every country has government who make certain rules and
regulation regarding tax rates (Bryant, Courtney and Lefebvre, 2014). If government
increase tax rates McDonald need to pay more taxes. Similarly, if government
decrease their tax rates cited firm pay less taxes. As resultant, it creates directly
impact on profits of the firm.
 Economic factors: Economic factors includes interest rates, which create major
impact on the business. This factors generate major influence on the production and
decisions of the McDonald.
 Social factors: Different region has distinct culture that effect to McDonald
environment. In this context, cited firm has to make products which not harmful for
society (Pauwels, Erguncu and Yildirim, 2012). In addition to this, they need to make
products to keep customers perception towards the products. If they not follow
culture it creates negative impact on the business.