The Role of Marketing and its Relationships - Report

   

Added on  2020-06-03

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UNIT 2 MARKETING ESSENTIALS
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TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1LO 1: ROLE OF MARKETING......................................................................................................2P1. Marketing Functions and its relation with McDonald's........................................................2P2. Organisational functional areas and relation with marketing functions...............................5LO 2: ELEMENTS OF MARKETING MIX..................................................................................8P3. Marketing Mix and pricing strategies...................................................................................8LO 3: DEVELOPMENT OF MARKETING PLAN.....................................................................12P4. Marketing plan....................................................................................................................12CONCLUSION..............................................................................................................................15REFERENCES..............................................................................................................................16
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ILLUSTRATION INDEXIllustration 1: 7 Functions of Marketing..........................................................................................3Illustration 2: Functional Areas of Business....................................................................................6Illustration 3: Marketing Mix...........................................................................................................9
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INTRODUCTIONMarketing essentials are the elements which are used by the companies to track theprogress of their business. These are very important in marketing i.e. sales and promotion ofservices and products (Purvis, 2016). Necessary also includes advertising and market research.The selected organisation McDonald's, which is a hamburger and fast food chain. The role ofmarketing and its relationships with other units of the company have been discussed in thisreport. This report is containing the origin of McDonald's and its expansion. Further thisassignment explains the functions of the company like finance, IT and HR. The uses ofmarketing mix i.e. place, price, promotion and product is also explained in this study (Puddle,2015). This document includes the marketing plan and its elements used in this administration.The functions of marketing and the management of information is also obstinate in this report. MAIN BODYMarketing:The study related to selling and buying of products or services of company isknown as marketing. In this various advertising and promotional activities are considered.Organisations use slogans, designs and services packages in order to attract customers. Establishment:McDonald's was established at United states in 1917 by Ray Kroc, who was anambulance driver. It wants to become famous for providing good and uniform quality of food. Inthe beginning, he had purchased multi mixers, but after sometime he established a restaurantwith his brother which was successful (Dey, 2016.). The first franchisee was established in 1954.They had started with limited menu such as burger, fries and beverages, so that they can focus onquality of product. But later it becomes motto of company. After 5 years of first franchisee, theyopened their 100th franchises in Chicago. Employees:They are having 375,000 employees working at different franchises ofMcDonald's. They all are working at different level of firm at various franchises of firm.Employees of McDonald are having minimum wages of $15 (Ghobadian and O’Regan, 2014).On the basis of their skills increment is provided. They provide various benefits to their staffsuch as insurance, health, retirement benefits and vacations policies. 1
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Branches and stores:McDonald is a famous fast food restaurant chain. They are having restaurants in120 countries and region. About 36,899 are serving customers across world. According to thereport of 2016 they are having total 5666 companies at different locations. Also having 31230franchises at 21559 different locations (Crawford, 2015.).Organisational culture:Hierarchy type of organisational structure was implemented in McDonald's. Forthis they work in different levels by using top- down control in order to maintain production.They give importance to quality for success of company. Along with this it is one of the rigidculture. Charles handy:By using the specialised organisational approach, companies mainly focus on fourfactors that are:1.Power culture: On the basis of McDonald, it is considered as a centralised culture. As theorganisation follow hierarchy structure, due to which all the power and rights are reserveby higher authorities. In order to maintain management firm (Scherer, Palazzo and Seidl,2013). 2.Task culture:McDonald's use this approach in order to distribute task into the smallgroups. Through this way problem is divided into small modules so that issues can beresolved faster. Along with this skill and performance of employees also get improved. 3.Person culture: This approach is considered by McDonald's in order to make employeesinvolved, so that working environment of company does not get affected. 4.Role culture: Companies mainly use this culture in order to distribute roles andresponsibilities to their employees. McDonald use this culture in order to improve chainof command.LO 1: ROLE OF MARKETINGP1. Marketing Functions and its relation with McDonald's 7 main functions used in marketing, which are discussed below;Distribution:It is basically known as the deciding factor which company will use and providethe services and products they want to sell to their customers.2
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The idea for any kind of product is outstanding, but the firm cannot make money. If that productnot reached to its consumers. The company is having over 30,000 restaurants, and they are located in 121 variouscountries (Sachdeva, 2015). Their aim is to become the first food service chain in the marketwith the help of marketing and advertising, they are establishing their brand's name in entireworld. This function helped them in developing very strong share of market in the global foodindustry.Financing: It is all about to take loan and used that to earn revenue. The critical function ofmarketing is financing which can be done by loans, investments or by using of personal capital.McDonald's money comes from their individual owners (Gibbs, 2017). There are severalinvestors which invest the money in the company to control the production. The business of thisorganisation is like a real estate, in which the consumers pay rent. The major revenue is generated from the money paid by the customer's. Along with this firm canuse this fees which is paid by the franchisees. 3Illustration 1: 7 Functions of Marketing
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