logo

Varied Marketing Concepts Report | M.C. Donald’s

   

Added on  2020-01-15

16 Pages4461 Words171 Views
MARKETING PRINCIPLES1
Varied Marketing Concepts Report | M.C. Donald’s_1
TABLE OF CONTENTSTable of Contents.................................................................................................................................2INTRODUCTION................................................................................................................................3TASK 1.................................................................................................................................................31.1 Various elements of marketing process required...................................................................31.2 Evaluating the benefits and costs of marketing orientation...................................................42.1 Macro and micro environmental factors influencing marketing decisions............................52.2 Propose segmentation criteria................................................................................................82.5 Positioning for McDonald's...................................................................................................93.1 Development of the products or services to sustain competitive advantage.......................103.2 Explain how distribution is arranged to provide customer convenience.............................103.3 Explain how prices are set to reflect an organization’s objectives and market conditions.103.4 Illustrate how promotional activity is integrated to achieve marketing objectives.............113.5analyse the additional elements of the extended marketing mix for the chosen company...114.2 Illustrate differences in marketing products and services to businesses rather thanconsumers..................................................................................................................................124.3 Show how and why international marketing differs from domestic marketing and showhow you could implement a marketing strategy to market abroad............................................13Conclusion..........................................................................................................................................132
Varied Marketing Concepts Report | M.C. Donald’s_2
INTRODUCTION Marketing principles are all about using a set of various processes that can be adopted byfirm for meeting up business needs as well as fulfilling consumer’s wants. It entails forundertaking decisions related to selling its products, promotion strategies and advertising amongothers (Cook, 2007). Therefore, the present report has given emphasis on M.C. Donald’s whichis one of the leading fast food chains of the world. The need of report is to have an understandingabout varied marketing concepts that are applied by Mc Donald’s. It will further lay emphasis onsegmentation, targeting and positioning followed by focusing on extended marketing mix and itselements in the context of Mc Donald’s. TASK 1 1.1 Various elements of marketing process required Analysis of market and environmentThe need on part of Mc Donald’s is carrying outmarketing activities in the best possible manner; theneed is to ensure that there is a proper analysis ofthe exiting environment (Deshpande and Rundle-Thiele, 2011). In this regard, the need on part ofmanagement team is to make use of strategic toolsin form of SWOT etc. Identification of target market-Marketing activities can be carried out in the bestpossible manner only when there is a properidentification of target market. Hence, managementteam at Mc Donald’s is required to analyze thepopulation as well as group of consumers that willbe targeted by it (Richards, 2015). Setting marketing objectivesMarketing activities can be the best only whencompany formulates proper marketing objectives(7Ps of Marketing, 2015). These can be related toenhancing the overall product awareness, provisionof information as well as bringing a reduction inconsumer resistance.3
Varied Marketing Concepts Report | M.C. Donald’s_3
marketing mixThis aspect gives emphasis on 7ps of marketing thatare needed to be taken into consideration by McDonald’s while formulating its strategies. 1.2 Evaluating the benefits and costs of marketing orientation Marketing orientation is that concept which gives emphasis on designing the productsand services as per the client’s needs. This is done by incorporating the element of productfunctionalityas well as efficiency in the overall business process.benefits of marketing orientationcosts of marketing orientationHelps Mc Donald’s in providing customercentric product and service offerings (Richards,2015). There will be an increased presence ofInvestment in marketing research. This mayadd its significant cost factor for Mc Donald’s. It will provide Mc Donald’s with an increasededge over competitors. Technological infrastructure is likely to beincreased in the overall working of McDonald’sMore Focused Production activities will beundertaken by Mc Donald’s (Deshpande andRundle-Thiele, 2011).Adopting the concept by Mc Donald’s mayrequire constant modifications in the processes.This may enhance the overall need for training(Brentari, Dancelli and Manisera, 2016).There will be an increased likelihood of repeatpurchases and brand loyalty.There may be a requirement to undertakeinvestment in new equipment usage as well asproduct iterations.There will be product improvements andupgrades by Mc Donald’s as per theconsumer’s needs (Shen and Xiao, 2014). Mc Donald’s is a segment that is facing highcompetition. Hence, issue with respect tomarketing orientation can be in terms ofproviding less return on the investments.Role of employees will be defined moreclearly.Mc Donald’s is further required to make use ofstrong technology and data tools. If, this is notundertaken then this may inhibit the capacity ofmanager to undertake business decisions.Understanding of consumer needs will lead toCompany will further have a chance of less4
Varied Marketing Concepts Report | M.C. Donald’s_4

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
MC Donald's 5 TASK 14
|15
|4416
|157

Marketing Principles Assignment : McDonald
|25
|8615
|353

Marketing Strategies of Mcdonalds
|17
|5417
|62

Report On McDonald's Use Of Marketing Mix
|13
|4080
|64

Report On Marketing Plan Of McDonald's
|12
|3843
|58

Marketing Principles of Mc Donald : Report
|22
|7255
|214