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Organization Build Strategy McDonald

   

Added on  2020-02-03

20 Pages5141 Words36 Views
MARKETINGPRINCIPLES

Table of ContentsINTRODUCTION ..........................................................................................................................3TASK 1............................................................................................................................................31.1 ..........................................................................................................................................31.2...........................................................................................................................................42.1...........................................................................................................................................52.2...........................................................................................................................................62.3...........................................................................................................................................72.4...........................................................................................................................................72.5 ..........................................................................................................................................83.1...........................................................................................................................................83.2...........................................................................................................................................93.3...........................................................................................................................................93.4.........................................................................................................................................103.5 ........................................................................................................................................10TASK 2..........................................................................................................................................114.1.........................................................................................................................................114.2.........................................................................................................................................124.3.........................................................................................................................................13CONCLUSION..............................................................................................................................13REFERENCE ................................................................................................................................14

INTRODUCTION Marketing principles are fundamental instruments through organization perform variousactivities (Allyson Dooley, Jones and Iverson, 2012). In this organization build strategy then theyare performing various tactics which helps to achieve goals of the business. Marketing principlesalso deliver value to customers and it is beneficial to society which make opportunities toenhance profits of firm. Present report is based on McDonald which is one of the largestrestaurant from various resorts. It has more than 1200 restaurants in UK and 97000 employeeswho are working together to deliver high quality food and services. They offer to the peopleculture of flexibility, opportunity, equality and diversity in different countries (AboutMcDonald's, 2016). This report helps to understand various elements of marketing process andbenefits for the cited firm. Furthermore, it covers micro and macro environmental factors whichinfluence marketing decisions. Moreover, it proposes segmentation criteria and target strategy indifferent marketplace. In addition to this, report analysis additional elements of marketing mixfor chosen enterprise.TASK 11.1 There are various elements through organization can make successful plan for thebusiness (Llauradó, Aceves-Martins and Giralt, 2015). In McDonald it consists various activitiessuch as product design, determination of pricing method, strategies and advertising, etc. In thiscontext, below are the process of marketing elements which can be considered in cited firm:Research: If McDonald wants to launch their new product for enhance market share,they need to conduct market research. With the help of research, the company can easilyidentify suitable area and customers requirements from the products. Thus, cited firm caneasily demonstrate things which are requires to development of products in othermarketplace. In addition to this, market research also useful to provide important messageat environment so enterprise can easily recognize target and segment (Lee and Hoffman,2014).Strategy: Once McDonald conduct research they recognize data which are requires fordeveloping products at marketplace. After this, organization find their strength andweaknesses through they can increase or decrease it respectively. Further, they determine

strategy to overcome weakness for their business. For example, in new marketplace citedfirm can easily attract customers because it has high market share and customers caneasily recognize it (Cadwallader, Atwong and Lebard, 2013). On the other hand they areunable to complete their mission easily so that with the help of strategy organization canovercome their weaknesses. As resultant, it is helpful to beat competition and succeed inthe market.Planning: Now McDonald can make their plan for reach towards the goals of business.In this context, they can make marketing plan including forecasting, financial planningand many more benchmarks within the firm. It reduces wastage of time because itdetermines time to time performance within the plan.Tactics: With the helps of tactics organization can easily implement plan to attractpotential customers (D. Newton, J., J. Newton, F. and T. Ewing, 2013). It will assist tothem to beat with competitors and increase sales which helps to provide better services tocustomers.1.2Marketing orientation is a model which focus on delivering products designed accordingto customers desire, needs and requirements. With the help of this, McDonald identified needsand wants of customers and then make products accordingly. Further, it involves monitoring onthe competitors actions and their effects on customers taste. With the help of marketingorientation, chosen enterprise make strategies that concentrate on establishing the products andservices to meet with customers demand and requirements (Savell, Gilmore and Rosengren,2015).Benefit and cost marketing orientation of McDonaldMarketing orientation is very helpful to McDonald as they can understand current marketshare. Along with this, they also understand about customer perception of the products and makeimprovements in it. In this context, chosen business attract customers through their effectivepackaging style. Further, it delivers long-term profitability to the organization which helps toenhance market share of cited firm. In addition to this, company make ultimate goals whichdevelop many loyal customers towards the business (Bodet, 2013). As a result, loyal customersbuy more products in larger volumes. Beside this, enterprise also enhance their investments

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