Organizational Strategy and Structure of Mcdonalds

   

Added on  2020-02-05

21 Pages6352 Words247 Views
Marketing Plan for“McDonald’s”
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EXECUTIVE SUMMARYResearch study is based on Mc Donald and main attempt is made to identify areas where firmcan work to improve its business. It can be observed that firm is currently serving number ofproducts to the people across the nations and is planning to expand its business. It can beobserved that bargaining power of customers is high but limited substitutes are available in themarket. There is threat from new entrants as it can be observed that new players are giving toughcompletion to large restaurant chains. Here, firm is facing threat to its business. In case ofAnsoff matrix application on firm it is identified that there are ample opportunities that firm canexplore in its business. It must make innovation in its products and must enter in to new market.By doing it can accelerate its growth rate in business.
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TABLE OF CONTENTSMain Body.......................................................................................................................................51. Current marketing techniques...............................................................................................52. Brand reputation....................................................................................................................83. Global Networking..............................................................................................................124. Future Expansion Opportunities.........................................................................................15Introduction......................................................................................................................................3References......................................................................................................................................183
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INTRODUCTIONIn the modern corporate era, competition is very high. Today, many firms are offeringsimilar kinds of products to consumers. To sustain in the market for longer duration, most of thefirms are taking support of marketing strategies so that they can gain attention of target audienceand can offer them products as per their requirements (Ghobadian and O’Regan, 2014). Earliercompanies were not paying much attention on their customers but now, they are working oncustomer centric approach and producing products as per the choice of end users in order toenhance their level of satisfaction and to make them loyal towards the brand. Internationalmarketing can be defined as an application of marketing principals through which companies canestablish their brand in global countries. In the recent scenario, firms are free to expand theirbusiness across the border but for that, it is essential for them to know about the needs andpreferences of target audience. It is the major component in business environment that providesvarious benefits to the host country and enhances the brand reputation of entity (Blois andHopkinson, 2015). Marketing is an essential function and most important part of businessoperations now a days. It assists in increasing visibility of brand across the world that helps inenhancing the sales revenues of organization to a high extent. In addition, it supports indeveloping relationship with the target audience and identifying their needs so that company canoffer them satisfactory products and make them loyal towards the brand. It enhances thecredibility of firm and improve its brand position in the competitive market (Chkhartishvili,2014). It is important that firms understand the needs of target market as it is highly dynamicand can influence the overall operations of entity. There are many multinational firms that areworking in different countries. Their main objective is to expand their business across the worldand to improve the brand image of companies. Most of the people buy products and set theirmind for the entity by looking upon its advertisement (Marjanova and Jovanov, 2016).Marketing plays a significant role in the organization and supports in accomplishment of the setgoal. With the help of sound marketing strategies, companies can influence the clients and createpositive business environment. It is a great way through which corporations can enhance theirrevenues and gain competitive advantage (Fortunato, 2016). 4
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Present report is based on McDonald’s which is an international company that operates inmany nations across the world. It has more than 1200 restaurants in which it has hired skilledpeople who can deliver quality food to the customers and able to gain trust of target audience. Itserves fast food and cold drinks to the consumers as well as pays attention on the needs ofpopulation. Thus, according to their preferences, it serves them food and services (Werner,2013). McDonald’s is the only firm which has large consumer database and all its users aresatisfied with the high quality services of brand. This strategy has helped the entity in building astrong brand image in the corporate market. Its products are hamburgers, cheeseburgers, chickenproducts, French fries, soft drinks, etc. that are the popular items which company offer to its endusers. Being an international firm, McDonald’s take support of several approaches in itsmarketing mix strategy in order to get optimistic outcome. Firstly, it understands the specificneeds of target audience of particular location and accordingly, it offers products to theconsumers. This strategy assists the entity in attracting more people towards brand and helps ingaining their attention (Alcock and Baig, 2014). 5
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Marketing mix strategy of McDonald’s is highly effective that assists in making thingsfavorable towards the entity. Cited firm has 47 million consumers all over the world and it is ableto satisfy the needs of children, men or women. Statistical records show that global sales of citedfirm in the year 2015 was over $40 billion (Khattri and Prakash, 2016) Current assignment will discuss the current marketing techniques of McDonald’s.Advantage of international marketing will be described in this part of study. Furthermore, it willexplain the degree to which cited firm has successfully implemented the market expansionstrategy internationally. In the next phase of report, brand reputation of McDonald’s will bedescribed. International marketing has helped the cited firm in developing a unique brand imagein the mind of consumers. Study will also discuss the brand reputation of organization andfactors that are affecting the goodwill of entity. . Third part of report is all about the global networking (Hussain and Siddiqui, 2016).Expanding the business into international market gives huge benefit to organization. It helps inincreasing number of consumers of entity and gives the cited firm new opportunities to grow at ahigh pace. Present report will explain the current and potential benefit to McDonald’s which isexperienced by the cited firm from global networking. Issues that are affecting business ofcompany such as tax rates, language barriers will be discussed in this assignment. Severalmarketing tools will be introduced and with the help of this, global networking of McDonald’swill be explained. In addition to this, factors that can help in shaping the business strategy of entity will bedescribed in this report. International marketing helps entity and gives new opportunity to thecited firm for its future business expansion (Marjanova Jovanov, 2016). In the report, SWOTanalysis, porter's five forces model, organizational strategy and structure of McDonald’s will beused as marketing tools. The study will focus on the marketing and business environment of theentity. International marketing strategy of cited firm will also be described in this report. MAIN BODY1. Current marketing techniquesMarketing is one of the great elements that help in accomplishing the goal oforganization. It is the tool that assists in knowing the tastes and preferences of consumers of6
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