McDonald's Marketing Strategies
Added on 2020-02-03
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MARKETING PRINCIPLES
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Elements of marketing process.........................................................................................11.2 Benefits and costs of marketing orientation.....................................................................2TASK 2............................................................................................................................................22.1 Micro and Macro environmental factors influencing marketing decisions in McDonald's................................................................................................................................................22.2 Segmentation criteria used by McDonald's......................................................................32.3 target strategy used by McDonald's..................................................................................42.4 How buying behavior affects marketing activities McDonald's......................................42.5 New positioning for a selected service or product of McDonald's...................................5TASK 3............................................................................................................................................63.1 How McDonald's products are developed in order to make sure that competitiveadvantage is sustained............................................................................................................63.2 Explain distribution strategies used by McDonald’s........................................................63.3 Explain pricing strategies used by McDonald..................................................................63.4 Promotional activities of McDonald's..............................................................................73.5 Elements of the extended marketing mix.........................................................................7TASK 4............................................................................................................................................84.1 Marketing mixes for two different segments in the consumer markets...........................84.2 Differences in marketing products and services to business and consumers...................8CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................11
INTRODUCTIONMarketing principles refers to the principles that are used to frame product, price,promotion and distribution strategy of the firm,The present report gives a full view of marketingtechniques, processes and principles of McDonald. The main objective behind preparing thisreport is to cover various aspects of marketing. In respect to this, an attempt is made to create abroad understanding about the various concepts of marketing like segmentation, targeting andpositioning. Apart from this in the report strategies like product, price, promotion anddistribution tactics are explained in detail. At the end of this report, difference betweeninternational and domestic marketing is discussed in detail. Along with this, difference betweenmarketing efforts that are made in relation to general public and business customer's is alsodiscussed briefly. TASK 11.1 Elements of marketing processElements of marketing process are as:Marketing audit- Under marketing audit marketing manager evaluate companymarketing efforts and strategies that it implement at the ground level. Along withmarketing environment is also evaluated by the managers in order to create futuremarketing strategy for the company product. Thus, it can be said that marketing audit in apart of cautious approach under which firm time to time evaluate its marketing efforts inorder to make sure that it will perform well in the market.Integrated marketing- It is another important component of marketing process. Underthis part of marketing process same message is communicated through different channelsof communication. This helps firm in channelizing its marketing efforts in singledirection. In research it has been seen that if different channel of communicationcommunicate separate message then it would not put positive impression on the targetcustomer's. Hence, due to this reoasn MC Donald is giving due importance to thisconcept of marketing in its business practice.SWOT analysis- MC Donald time to time conduct SWOT analysis in order to identify itsstrength and weakness related to its marketing efforts. Application of this technique also1
helps in identifying threat and opportunities related to marketing of its product. Hence,output of this analysis helps firm in crafting sound marketing strategy for its product.1.2 Benefits and costs of marketing orientationMarketing orientated concept means a business concern enact to what consumer need.The decisions interpreted are based on the data about customer’s needs and wants, rather thanwhat the enterprise consider is right for the consumer. Costs: In order to identify customer needs and to innovate its service deleivery methodsMC Donald conduct research on continue basis. For this heavy amount is ivested everyyear. Hence this affects company profitability. But main beneift of this effort is that firmget an information abour the needs of the people. By following needs it launch newproducts in order to satisfy customer needs. Due to this reason firm successfully creat aloyal customer base in past few years(Doole and Lowe, 2008). Hence, it can be said thatmarketing orientation has benfits and costs for the firm.Relationship marketing- MC Donald time to time conduct many programs in itsrestaurant in order to make customer's experience better in its workplace. Hence, bydoing this MC Donald is establishing good relationship with its customer's.TASK 22.1 Micro and Macro environmental factors influencing marketing decisions in McDonald's The micro factors areSuppliers: MC Donald is purchasing raw materiel from many suppliers. It makes surethat suppliers from whom it it purchasing raw material are supplying quality raw materialto its workplace. Firm advertise this thing in its advertisement in order to make surepeople that it is using quality of raw material in producing food items. Hence, by doingthis firm successfully create its good image among the customer's.Customers: MC Donald main aim is to provide quality food at affordable price. Hence,since its inception it is strictly complying with its objective. Firm also show this thing inits advertisement. With increase in unemployment rate firm try to control its price. Itsmain objective is to increase sale of its product on the basis of price. By taking advantageofeconomic condition it is promoting its product on the basis of price at the place ofquality. Hence, customer expectations regarding price from MC Donald due to increasein unemployment rate affect its marketing decisiosns.2
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