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Report On McDonald's Use Of Marketing Mix

   

Added on  2020-02-17

13 Pages4080 Words64 Views
MARKETINGPRINCIPLES
Report On McDonald's Use Of Marketing Mix_1
Table of ContentsINTRODUCTION ..........................................................................................................................3TASK 1............................................................................................................................................31.1 - Various elements of the marketing process........................................................................31.2 Benefits and costs of a marketing orientation.......................................................................4TASK 2............................................................................................................................................42.1- Macro and micro environmental factors which influence marketing decisions..................42.2- Segmentation criteria to be used for products in different markets.....................................52.3- Targeting strategy for a selected product/service................................................................62.4 Buyer behaviour affects marketing activities in different buying situations........................62.5- Propose new positioning for a selected product/service......................................................7TASK3.............................................................................................................................................73.1- Product development in sustain competitive advantage......................................................73.2- Distribution is arranged to provide customer convenience.................................................83.3- Prices are set to reflect an organisation’s objectives and market condition........................83.4 - Promotional activity to achieve marketing objectives........................................................93.5- Additional elements of the extended marketing mix.........................................................10TASK 4..........................................................................................................................................104.1 Plan marketing mixes for two different segments in consumer markets............................104.3- Differences in marketing products and services................................................................114.3- International marketing differs from domestic marketing.................................................11CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................13
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INTRODUCTIONMarketing has a broad concept which describe about the elements and concept ofmarketing. All company follow the rules and regulation of marketing. Many researcher give theirviews related to marketing(Lefebvre, 2011). At present time marketing follow the Philip Kotlarprinciple and rules. As Mc Donald also follow the rules and regulation of marketing. Marketingprinciple and marketing concept refers marketing mix and service. These thing are necessary toevery organisation. As Mc Donald also use marketing mix. Marketing mix refers product, price,place, and promotion. These are the basic elements of every company. Mc Donald also use theirproduct to market sale. Market relies on the product and product price.TASK 11.1 - Various elements of the marketing processMarketing process is the vital part of organisation. Mc Donald also use marketing processto sale their product and any research related to marketing. This process refers some elementswhich is as follow:Conduct market research:- Companies conduct market research to analyse about anyparticular topic(Jobber, and Ellis-Chadwick, 2012). As Mc Donald can use marketingresearch related to product analysis or any segment of company. Develop marketing strategy:- Company develop marketing strategy to complete anyparticular task. As Mc Donald want to make new product so it should make a strategy todevelop a new product.Plan marketing activities:- Every organisation should plan marketing activity tocomplete any marketing related task. As Mc Donald want to introduce new product so itshould make a marketing plan.Manage marketing promotional:- It describe about the promotion activity in market.As Mc Donald want to promote their product so it have to complete market promotionalactivity. Optimise sales activity:- It refers controllable sales activity in market. As Mc Donaldsale their product with optimise their sales activity(Sheth, and Sisodia, 2015).
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Customer feedback:- It refers customer point of view on product and company. Ascustomer give ratings to Mc Donald product. Customer feedback is necessary to get resultfrom market.1.2 Benefits and costs of a marketing orientationIt refers a business modal which focus on deliver product to customer according tocustomer need and desire(French,2010). Mc Donald company also care about the customerrequirement. As Mc Donald's Aalu tikki is most selling product due to customer demand.BenefitsTo identify current market share:- As Mc Donald company do market analysis toidentify about their current market position and current market share. To understand customer desire of products and make better:- Mc Donald canidentify about the customer need and demand and after that company can do changes intheir product. Attract customer through packaging and labelling:- Packaging and labelling is mostattractive thing to customer. Mc Donald use their special packaging and provide productto customer(Henley, Raffin, and Caemmerer, 2011).CostsPromotional costsAdvertising cost:- Company use advertising to introduce their product in market. McDonald also use their slogan and many advertising activity. It is a compulsory cost oforganisation. Sales promotion costConsumer promotion:- Company use sales promotion activity to increase the sale ofproduct. As Mc Donald promote their customer and provide a better product.Trade promotion:- It is helpful to promote business in market. Mc Donald use slogan as“We're lovin' it” to promote their business(Rudd, and Mills, 2011).TASK 22.1- Macro and micro environmental factors which influence marketing decisionsMicro and macro environment effect the marketing decision making process. These factor directly and indirectly effect decision making process.
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