Report on Fastest Growing Firms Mc Donalds

Marketing Principles

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Various element involved in marketing process...................................................................1
1.2 Costs and benefits of marketing orientation of McDonald's.................................................2
TASK 2............................................................................................................................................2
2.1 Micro and Macro factors which affects marketing decisions...............................................2
2.2 Segmentation criteria for different markets..........................................................................3
2.3 Targeting strategy for Chicken Maharaja Mac.....................................................................4
2.4 Impact of buying behaviour on marketing activities in different buying situations.............4
2.5 New positioning for Chicken Maharaja Mac........................................................................5
TASK 3............................................................................................................................................6
3.1 Ways to develop product to sustain competitive advantage.................................................6
3.2 Distribution to provide customers convenience....................................................................6
3.3 Pricing for reflecting the organizational objectives..............................................................7
3.4 Promotional activity in achieving marketing objectives.......................................................8
3.5 Additional element of marketing mix...................................................................................8
TASK 4............................................................................................................................................9
4.1 Marketing plan for two different segmentation....................................................................9
4.2 Difference between service product and service product......................................................9
4.3 Difference between international marketing and domestic marketing................................10
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Marketing principles can be defined as a range of processes through which firms get to
know the needs and wants of customers. Accordingly, organizations provide services or products
with the help of which they satisfy their customers. Main aim of organization is to gain
maximum profit and for this aspect, marketing principles are very helpful in providing their
customers with the better products or services which attract more and more customers (Yeu. and
et.al., 2012). The present report is about McDonald's which is one of the fastest growing Firms
as it is mostly focused on understanding their customers and accordingly, it provides products
which would satisfy them. It has covered almost all the region in all around the world. In this
context, it has 36000 outlets at the global level.
Main aim of this report is to understand skills which are related with the fundamental principles
and concepts that underpin the marketing process. In this context, different processes and
concepts used in marketing will be covered in this report. Further, it also covers the use of
different marketing mix at different contexts. Lastly, it also includes the concept behind
targeting, positioning and segmentation.
TASK 1
1.1 Various element involved in marketing process
Marketing can be determined as a process through which organizations convey
information to the customers regarding their product and services. It is very helpful for the firm
as it increases the level of sales and revenue (Jeon and et.al., 2015). In this context, there are
mainly four elements involved in it which are product, price, place and promotion. For a firm, it
is very important to know these four elements so that they could deliver their products or
services effectively. Following are the different types of elements which are involved in
marketing processes:
Marketing mix: There are mainly seven elements involved in marketing mix. All the seven
elements are very essential for understanding the demand and accordingly, providing products
and services to the customers which would satisfy them. In this context, McDonald's should be
careful in setting their marketing mix so that they could understand their customers effectively.
Segmentation: It determines target audience to whom firm wants to deliver product or services.
In accordance with the case, it is very important for McDonald's to determine their target
1

audience as it would provide proper direction through which they would be able to attract
targeted audience (Osman,, Johns and Lugosi, 2014).
Analysis of environment: In order to analysis business environment, there are many tools which
are involved and these tools are very helpful for the organization to know drawbacks or areas in
which they lack. McDonald's can use tools like SWOT, PESTLE, Porters five forces, etc.
1.2 Costs and benefits of marketing orientation of McDonald's
Market orientation plays a vital role for the organization. It is a type of model which
helps organization to deliver products or services according to the needs and requirements of
customers. Following are the benefits and costs of market orientation to McDonald's:
Benefit: Marketing orientation has helped McDonald's in many ways like it has helped in
understanding the need and wants of customers (Paul and Roy, 2014). Most importantly, it helps
in making able to satisfy customers and as a result, there are many loyal customers for
McDonald's. Company frequently takes feedbacks so as to understand the requirement of
customers and focus on resolving all the drawbacks. It has helped firm in increasing its sales and
revenues along with developing goodwill.
Cost: In order to attract customers, company has made different target audience through which
they focus on providing different types of offers according to the segmentation. One of the
important strategies which is adapted by McDonald's is that, whenever they come up with new
product or innovation, they provide different discount offers. This is done just to know whether
the product would be accepted by customers or not (Bal and et.al., 2015). When customers get to
know and start accepting the new product, then it raises the price of products and services. In
order to convey their offers or new products effectively, they make use of different promotional
tools like internet, newspapers, television, radio, etc. so as to attract customers.
TASK 2
2.1 Micro and Macro factors which affects marketing decisions
Micro and macro environmental factors highly affect the marketing decisions. Micro
environment includes those factors which have direct impact over the organization. These factors
are necessary to be managed by the organization (Kulkarni, 2012). On the other hand, macro
environment includes factors which also affect organization but company can just take
2