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Significance Of Marketing Principles | Report

   

Added on  2020-01-16

14 Pages4175 Words164 Views
Marketing Principles
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Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Explain the various elements of the marketing process...................................................11.2 Evaluate the benefits and costs of a marketing orientation for a selected organisation...22.1 Show macro and micro environmental factors which influence marketing decisions.....22.2 Propose segmentation criteria to be used for products in different markets....................32.3 Choose a targeting strategy for a selected product/service..............................................32.4 Demonstrate how buyer behaviour affects marketing activities in different buyingsituations.................................................................................................................................42.5 Propose new positioning for a selected product/service...................................................43.1 Explain how products are developed to sustain competitive advantage..........................43.2 Explain how distribution is arranged to provide customer convenience..........................53.4 Illustrate how promotional activity is integrated to achieve marketing objectives..........63.5 Analyse the additional elements of the extended marketing mix.....................................6TASK 2............................................................................................................................................74.1 Plan marketing mixes for two different segments in consumer markets..........................74.2 Illustrate differences in marketing products and services to businesses rather thanconsumers...............................................................................................................................84.3 Show how and why international marketing differs from domestic marketing...............8CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10
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INTRODUCTIONMarketing played a significant role which can create the demand of the product andservices. It can help to attain the organisational goals and objectives effectively. Marketingprocess helps to identify the needs and preferences of the customer and make their productaccordingly. This report is based on the context of McDonald which is one of the leading foodchain in UK. The provide a wide range of products to its customer with high quality with thelower price (Sheth and Sisodia, 2015). The purpose of this report is the significance of marketingprinciples and how the company can using their marketing strategies like segmentation, targetingand positioning. It can help to attain the organisational goals and objectives effectively. TASK 11.1 Explain the various elements of the marketing process.Marketing process is essential for each and every business to analyse the current andfuture needs of consumers and making their products and services accordingly. There are fourimportant elements of marketing process which can help McDonald to make and implement theirmarketing strategies accordingly:Situation analysis: Situation analysis in the first stage of marketing process can help toidentify the needs and desires of consumers. It is important for company to design their foodproducts according to the needs of their consumers. There are various tools which can be used toanalyse the situation in market (Armstrong and et. al., 2014). It involves SWOT analysis whichcan help to understand the strengths and weaknesses along with threats and availableopportunities in the market. Marketing strategies: It is another important stage which can help to identify suitablemarketing strategies for McDonald. Marketing manager conducts the market research whichhelps to know the actual need of their consumers (Kotler and et. al., 2006). Marketing mix decisions: It is another significant tactical decision made by the marketingmanager. There are following marketing mix of McDonald which includes:
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