Marketing Mix for New Product Launch
Added on 2020-02-14
17 Pages5812 Words39 Views
|
|
|
MARKETING PRINCIPLES
Table of ContentsMARKETING PRINCIPLES.............................................................................................................1TASK 1................................................................................................................................................31.1 The various elements of the marketing process in McDonald's....................................................31.2 The benefits and costs of marketing orientation in McDonald's...................................................4TASK 2................................................................................................................................................42.1 The micro and macro environment factors influencing marketing decisions of McDonald's......42.2 Segmentation criteria to be used for McDonald's products in different markets..........................52.3 A range of products and services McDonald’s offer choose a targeting strategy.........................62.4 Buying behaviour affects marketing activities in different buying situation in McDonald's.......62.5 A new positioning for a Happy Meal of McDonald's...................................................................6TASK 3................................................................................................................................................73.1 McDonald's products are developed in order to make sure that competitive advantage is sustained..............................................................................................................................................73.2Distribution strategies used by McDonald’s..................................................................................73.3 Pricing strategies used by McDonald's.........................................................................................83.4 Promotional activity used by McDonald's is integrated to achieve marketing objectives............83.5 An analysis of the additional elements of the extended marketing mix for McDonald's..............9TASK 4.............................................................................................................................................104.1 Marketing mixes for two different segments in the consumer markets of McDonald's ............104.2 Differences in marketing products and services to business rather than consumers..................114.3 International marketing differs from domestic marketing in McDonald's.................................11CONCLUSION.................................................................................................................................12REFERENCES..................................................................................................................................12Illustration IndexIllustration 1: Positioning Strategy.......................................................................................................9Illustration 2: Distribution Channel....................................................................................................11
Re: INTRODUCTIONMarketing principles are referred for making decisions and analysing the actions of themanagers further it also helps in making successful management. For the present researchorganisation chosen is McDonald's. It is a popular brand in fast food chain. The company promotetheir brand by colourful designs and images to attract more loyal customers (Dooley and et. at.,2012). McDonald's has 1200 outlets which are set in UK and delivers good quality food andservices to their trusted customers. The first restaurant in UK was opened in 1974 and still it isgoing on Woolwich, London. McDonald's is expanding their business in UK as well asinternationally by its large variety of products. McDonald's deals in varieties of products likehamburgers, chicken, French fries and desserts etc. and it has introduced Happy Meal for children.In context to changing of consumer tastes and preferences, the company has enlarged its foodproducts into salads, smoothies, fish wraps etc.In this research, the research covers McDonald's marketing elements and its process byanalysing its micro and macro environment through segmentation, targeting and positioning of thefood products by various market mix strategies like price, product, promotion and place of theproducts according to the consumers' tastes, preferences and lifestyles. TASK 11.1 The various elements of the marketing process in McDonald'sThe various elements of marketing process of McDonald's are categorised into marketingenvironment scanning, marketing strategy, marketing plans and monitoring and controlling of theelements (Henley and et. at., 2011). Marketing Environment Scanning: Company is analysing the external environment of thebusiness by evaluating environment through needs and wants of the customers andchanging phrase of the environment and making effective relationships betweenorganisations and suppliers. information about its product and then make change accordingto the customers'Marketing Strategy: It is an approach by the company through which they can gatherpreferences. McDonald's have made different types of strategies for their products andsome of the strategies include segmentation, targeting and positioning etc. Marketing Plans: To gain more market share and profitability, McDonald's uses marketingmix tool to plan its strategy in which it includes product, price, promotion and placing ofthe product.
Monitoring and Control: This element is used in observing the other elements like research,plans and strategy to be used in the organisation effectively. McDonald's is focusing oncustomer satisfaction and product orientation because the company is managing its productto gain more customers. The marketing process to work effectively in the organisation, the company has to analyse itsinternal as well as external environment by using SWOT analysis (Pahl and Richter, 2009).StrengthsHighly recognisedbrandinternationallyHuge varieties of food productsGood promotional activitiesWeakness Management of FranchiseeNo innovation in the productLow profit marginsOpportunitiesGood service qualityVenture in new marketsInnovation in productsThreatsChanging tastes and preferences ofcustomersHealth conscious people is major threatNew competitors like KFC, BurgerKing, Pizza Hut etc. 1.2 The benefits and costs of marketing orientation in McDonald'sMarketing orientation is defined as the products and services are designed as such so thatthey can meet the requirements of the customers through production orientation. McDonald'smarketing orientation is all about unique combination of various marketing tactics and strategy sothat the company can fulfil the operational opportunities through fulfilling customer’srequirements. McDonald's can give benefit to the customer by giving their users new experienceand good quality of the products and a clean environment. If the company meet the requirementsof the customers then the organisation can gain profitability as well as more loyal customers(Blythe and et. al., 2008). Marketing orientation benefits helps the production by producing moreproducts which leads more demand in the market and sales helps in the probability of the businessand also gain more opportunities for the organisation. Marketing activities also helps in promotingthe business as well as increase market share in the market. If the production, sales and marketingtools are fulfilling its objectives then the company provides good quality of products and servicesto the society to meet the requirements of the customers. The cost of marketing orientation in McDonald's includes research of the organisation by
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents