Principles of Marketing: Product Description, Market Analysis, Target Market, and Recommended Marketing Mix

Principles of
Marketing

Table of Contents
INTRODUCTION ..........................................................................................................................3
MAIN BODY...................................................................................................................................3
Product/Service Description .......................................................................................................3
Market Analysis...........................................................................................................................4
Target Market...............................................................................................................................8
Recommended Marketing Mix....................................................................................................9
CONCLUSION .............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Marketing principles defines the overall principles of the market that are used in order to
develop and frame the product price promotion and distribution strategies of the company. These
are the basic principles that help in examining and offering the products to the market by
considering various techniques process and principles (Porral and Stanton, 2017). In order to
carry forward this report McDonalds is considered which is an American fast food company
incorporated in 1940 in California. McDonalds offer wide range of products and services at the
low prices and also provide great customer service. In relation with this McDonalds close there
Pizza chapter since very long and in terms of this company face vast changes in its sales. The
report is going to cover the basic and brief description of the product and overall analysis of
market considering the market Trends competitors issues opportunities and so on. Lastly target
market and marketing mix is conducted for the smooth flow of product of the company.
MAIN BODY
Product/Service Description
McDonalds make suitable improvement in its services regarding its business concern
considering the decisions and interpretation about the requirements of customers. In terms of this
McDonalds identify the requirements of customers in order to provide innovative Service
Delivery methods. Along with this McDonalds also need to make suitable improvement in it’s
offerings like company currently provide wide range of products but does not deal in pizza and
for this many customers goes to other restaurants.
Hence McDonalds need to add pizza in their menu by considering suitable research and
undertaking the perspective of people. Along with this in order to make suitable changes and
improvement McDonalds need to develop healthy relations with their customers as it helps in
analysing and identifying the requirements of people. It is performed by relationship marketing
manager as prospective company conduct time to time program in their restaurant as it helps in
attracting maximum number of customers and enhancing experience of better place (Palmatier
and Crecelius, 2019). Hence, considering the above findings it is analysed that production of new
products and services or improvement in them leads to develop image of company which is
beneficial regarding the brand image of company and also leads to develop profitability and sales

of an organisation. After analysing the result, it is effective in order to develop product for the
improvement in the running and functioning of image. For this, company leads to develop
healthy relations with the marketing manager which is useful in conducting time to time program
and other activities for company which is useful in attracting more and more customers and offer
better experience to them.
Market Analysis
Brief analysis of the market
Market analysis is a quantitative and qualitative analysis of the market that is useful in
the business plan. It considers the market size value volume customer segment buying behaviour
competition economic environment and various barriers within the market. The basic objective
of market analysis is to represent their investors that the company properly know their market
and describe the positive side of market to develop a sustainable business (Bowie and et. al.,
2016). Market analysis includes various steps in it in order to conduct significant research of the
market considering demographic and segmentation market requirements competition legal laws
and regulations and target market.
As these are the factors that are helpful for McDonalds in order to analyse the suitable
condition of market and also helps in identifying the risk factor for them. In relation with this
there are various frameworks that are used in order to analyse the conditions of market such as
porter’s five forces swot and pestle analysis. These are the frameworks that are useful in
identifying the suitable area in order to expand the business and risk factor that is concerned
regarding the expansion of McDonalds. Along with this company can face suitable barriers in
order to take entry within the market and the market entry barriers is the major concern for the
investors of McDonald’s. In relation with this they are significantly concerned about various
points like substantial investment, technology, brand name, accessible resources, distribution
channel location and rules and regulations (Bonaparte, 2019).
Key market trends
Increase complexity in consumer purchasing: It describe the complexity which
organisation face regarding identifying the decision of their customers purchasing. In modern
time customers use various ways to purchase their product and for this it becomes Complex for
the McDonalds to identify the significant online platform in order to offer delivery services.