Hospitality Marketing Essentials Activity-2: McDonald's Marketing Plan

This report provides a detailed marketing plan for McDonald's new chocolate sandwich, covering various aspects essential for a successful product launch. It begins with an overview of McDonald's and an executive summary highlighting the new product. The report outlines the company's vision, mission, and marketing objectives, aiming to increase sales and market share. A SWOT analysis is conducted to assess strengths, weaknesses, opportunities, and threats. The STP approach (Segmentation, Targeting, and Positioning) is discussed, followed by a comprehensive marketing mix strategy, including product, price, and marketing channels, with a specific focus on social media. A marketing budget is allocated, and controlling and monitoring methods are established using KPI and benchmarking tools. The report concludes with the importance of a well-defined marketing plan for achieving desired goals, referencing relevant marketing literature.

Hospitality
Marketing Essentials
Activity-2

Content
 Introduction
 Overview of McDonald’s
 Executive summary
 Mission, Vision and Marketing Objectives
 SWOT Analysis
 STP and Marketing Mix
 Marketing budget
 Controlling and monitoring
 Conclusion
 References

McDonald’s is engaged in producing wide
range of food items that includes
Hamburgers, French Fries, Milk
Shakes and much more. It was
established in the year 1940 currently
considered as one of the world’s
largest food chain by revenue.
Overview of McDonald’s

Marketing plan
Marketing plan is a document specifying the activities that need to be
done in order to promote new product into market in more successful
way. In the context of McDonald’s, it is important for the manager to
prepare an effective marketing plan hat guides their marketing staff to
follow steps in order to make new product more successful

Executive summary
McDonald’s is decided to launch its new product into market i.e.
chocolate sandwich which made up of using fresh vegetables and
hot chocolate instead of America cheese. This is introduced to
attract children and youths as they mostly prefer chocolate related
products to buy.

Mission, Vision and Marketing Objectives
Vision- To maximise satisfaction level of customers by offering standard
quality of hygiene food products.
Mission- To become people’s favourite brand by offering best quality food
items and services.
Marketing objective:
The marketing manager of McDonald’s framed marketing objectives for
its new product i.e. increasing 25% sales within 2 months and other main
objective is to increase market share by 25% within 6 months.

STP Approach
Segmentation- It is an act of dividing
population into smaller segments
according to their common needs and
preferences. It makes easy for
marketing manager to focus on each
target market and take marketing
decision accordingly.

SWOT analysis of McDonald's
Strengths Weakness
 McDonald’s has attained strong market image due to which
it can easily attract customers towards their new products.
 Company has attained good wealth with high generated
revenue which allows their marketing manager to invest
more funds on using different marketing channels.
 McDonald’s offering Fast foods due to which they may
faces difficulties in attracting health conscious people
which are high in nowadays.
 Ignoring lower- and middle-income group due to
charging high prices on their products.
Opportunities Threats
 In India where large number of customers prefers to buy
their products, McDonald’s should open new outlets in
different locations to generate high revenue.
 Focusing on CSR activities minimises the impact on
environment which creates good image in the customers’
mind.
 Tough competition sometimes affects their revenue and
customers base.
 Lack of healthy food products restrict them to attract
new customers.

Competitors of McDonald's
McDonald’s faced tough competition in food industry due to having
large number of companies offering same kinds of services. These
includes Burger King, KFC, Domino’s etc. To compete with them,
the marketing manager of McDonald’s need to conduct research on
their existing marketing strategies and update own strategies
accordingly.

Marketing mix for new product
Product- McDonald’s is introducing new food product i.e. chocolate
sandwich to target children which indirectly brings their parents
towards their outlets. This increases their profitability.
Price- will adopt psychological pricing strategy is adopted for its new
product due to having strong market image

Marketing Strategy
It is essential to prepare a an effective market strategies for executing
different activities for launching new products and make it more
successful into market. For this, the marketing manager of
McDonald’s prefers to go social media platform and influence their
buying behaviour by communicating them about the benefits like
offers and pricing strategy.

Marketing Budget
Particulars Amount
Advertising on TV (10%) 20000
In social Media Platforms (25%) 50000
On newspapers (10%) 20000
Sales Promotion- (30%) 60000
Total amount allocated to the budget is 2,00, 000