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Organizations Marketing Principles

   

Added on  2020-01-07

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Marketing Principles

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Various elements of the marketing process...........................................................................11.2 Benefits and costs of a marketing orientation for McDonald’s.............................................2TASK 2............................................................................................................................................32.1 Macro and micro environmental factors which influence marketing decisions....................32.2 Propose segmentation criteria................................................................................................42.3 Target strategy.......................................................................................................................42.4 How buyer behavior affects marketing activities in different buying situations...................52.5 Propose new positioning for a selected product/service........................................................5TASK 3............................................................................................................................................63.1 How the products/services are developed to sustain competitive advantage........................63.2 How distribution is arranged to provide customer convenience...........................................73.3 How prices are set to reflect an organization’s objectives and market conditions................73.4 How promotional activity is integrated to achieve marketing objectives..............................73.5 Additional elements of the extended marketing mix for the McDonald’s............................7TASK 4............................................................................................................................................84.1 Plan and recommend marketing mixes for the two different segments in consumer markets.....................................................................................................................................................84.2 differences in marketing products and services to businesses rather than consumers...........84.3 How and why international marketing differs from domestic...............................................9CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10Books and Journals....................................................................................................................10

INTRODUCTIONOne of the most crucial tasks for organization nowadays is to enhance their customerbase by the way of doing appropriate marketing for their products and services. Marketing isbecoming key concepts these days and it is all about making appropriate communication withcustomers (Mesdag, 2000). With the help of this, company can easily achieve their target marketas well as enhance their consumer base. According to the American Marketing association(AMA), Marketing is having its direct relation with the performance of company. It is highlyessential for every organization these days to fill their customers’ needs and demands. In order tofulfill these demands, companies are required to take effective consideration at the time ofplanning strategies. For this particular study, McDonalds is taken into consideration which is one of thelargest chains of hamburger fast food restaurants worldwide. They are having millions of loyalcustomers due to their quality services as well as taste. Within this respect, appropriate marketingreport is being prepared which is presented to marketing manager of McDonalds (Avlonitis,2011). It involves different concepts regarding marketing as well as its segmentation, targetingand positioning strategies. In addition to this, the main purpose is just to formulate a suitablemarketing campaign relating to the fundamental concepts and principles that reinforce themarketing process. TASK 11.1 Various elements of the marketing processOne of the most common goals of McDonalds is to go through the changing needs anddemands of customers in order to provide them high quality services. For the same, companyneeds to imply with various elements of marketing process so that effective changes can bemade. In this concern, situational analysis is best tool through which company can makecomplete investigation of their entire internal and external marketing situation. Market elementcan be defined as a combination of both external as well as internal conditions of company. Italso refers to the four p’s of marketing such as: product, price, place, promotion. Marketing mixof any organization is the element of marketing which helps the company in finding out itsposition in the market. 1

By setting best marketing plan company can easily go through the appropriate marketing.In order to develop this plan, McDonald’s needs to focus on the appropriate segmentation as wellas targeting and positioning strategies (Martin, 2009). In order to adhere with the same and fillthe customer’s needs there are some of the most common marketing process elements whichneeds to be used by them. These elements are as follows:SWOT Analysis: It can also be define as internal analyses of company through whichMcDonald’s can easily use identify its strengths, weaknesses, opportunities and threats for the2Capture value from customersto created profits andcustomers equityBuild profitable relationshipand created customers delightConstruct and integratedmarketing program thatdeliver superiors valour’sDesign customers drivenmarket strategyUnderstand the market placeand customers’ needs andwants

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