Assignment on marketing principles mcdonald
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Added on 2019-12-28
Assignment on marketing principles mcdonald
Added on 2019-12-28
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MARKETING PRINCIPLES1
Table of contentsIntroduction3Task 14LO1 Understanding the concept and process of marketing4AC 1.1 Explaining the various elements of the market process4AC 1.2 Evaluating the benefits and cost of marketing orientation for a selected organisation5LO 2 Be able to use the concept of segmentation, targeting and positioning52.1 Show macro and micro environment factors which influence market decisions with thehelp of appropriate tools and techniques of McDonald’s52.2 Propose segmentation criteria of McDonald’s72.3 Choosing a targeted strategy in different markets for selected products82.4 Demonstrating how buyer behaviour affects marketing activities in different buyingsituations82.5 Prose the positioning for a selected product or services9LO 3 Understanding the individual elements of the extended marketing mix103.1 Analysing how the product or services are developed to sustain competitive advantages103.2 Explaining how distribution is arranged to provide customer convince103.3 Explaining how price are set to reflect the objectives and market conditions of anorganisation103.4 Illustrating how a promotional activity is integrated to achieve marketing objectives113.5 Analysing the additional elements of the extended marketing mix for the chosen company11Task 212LO 4 Able to use the marketing mix in different contexts124.1 Planning and commending marketing mix for the two different segments in customermarkets122
Introduction Marketing principles are the backbone of the business and the essential element which securethe possibilities of future growth of the business organisation. In fact, the term marketingprinciples denote to the effective process which involves with satisfying the entire needs anddemands of its customer properly. The main aim of the marketing principles is to meet theentire essentialities of its customer by understanding its actual demands through organisingthe effective market research. In this assignment, the learner will explain the term and processof the marketing mix and how it effects on the business growth to stay ahead in thecompetition market. Figure 1: Logo of McDonald’s(Source: McDonald's UK, 2017)4
Task 1LO1 Understanding the concept and process of marketingAC 1.1 Elements that are part of marketing process1. Situation analysis: SWOT analysis will tell the organization to analyses present situationwhich exists in the market. Furthermore, the customer also can able to understand both of thestrengths and weak points of the organization which motivates them to choose the specificbrand for the purposes of regular use. SWOT analysis:Strengths●Offering unique qualityproduct●Excellence delivering services●Efficient pricing strategy●Reputed brand valueWeak Points●Low investments than its competitors●Stock of the offering products arelimited●Delivering channel seems weak thanits competitorsOpportunities●Image and brand loyalty seems verysignificance for the growth of thebusinessThreats●Effective competition market consistsof close competitors● price sensitivityTable 1: SWOT Analysis2. Marketing strategy: According to Papadopouloset al. (2014, p. 55), the main principlesof this situation analyses are to set an effective marketing strategy which provokes to build anaction plan for the organization. On the other hand, the term marketing strategy refers to thesegmentation process, targeting its viewers and also positioning its offering services or goodsamong the society.5
3. Marketing mix decisions: In the opinion ofKotler and et al. (2015, p.25), the secondimportant step is marketing mix decision which encourages for building critical and effectivedecision to develop any product of the organisation. 4. Implementation and control: In the opinion ofTurnbull et al. (2013, p.04), in order tocheck the entire process of marketing mix this step becomes very important to implement themarket strategy through monitoring the manufacturing processes. AC 1.2 Advantages of promotion and value of orientation for enterpriseIn recent days, the business philosophy of McDonald’s involves with satisfying theactual demands of it customer by both of understanding and explaining it. The main aim ofthe marketing strategy of the organization was just delivering the dishes to its customers butnow a day the organization tries to modify its dishes to gain lots of service-users. 1. The market oriented approach denotes very effectively the demand which exists in themarket for any specific product of the organization. So, it relates and responds against thewants of the customers. Thus it is clearly identified that the delivering services of theorganization have been improving constantly. This effective process helps the organization tobuild innovation in its offering services by investing low amounts of money which seem verycost-friendly. 2. Moreover, the market-oriented approach helps the organization to establish efficient brandloyalty among its customers which encourage the customers to visit the organizationrepeatedly. LO 2 Different concepts of market2.1 Influence that internal and external factors has on market decisions with the help ofappropriate tools and techniques of McDonald’s PESTLE Analysis of McDonald’s: PESTLE Factors Findings Political Factors ●Countries that protest against theconsume of fast food can be a threat6
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