The competition in market is rising and it has become very important to make sure all the needs of customers are fulfilled. The marketing manager for McDonald’s have decided to carry out a detailed marketing analysis for the business.
- Explanation of key roles and responsibilities fulfilled at McDonald’s.
- Comparing the ways in which elements of marketing mix are utilized in the organization.
- Development and Evaluation of marketing plan for McDonald’s.
Marketing is a action of promoting as well as selling commodities and services to buyer according to their requirement. It also includes advertisement, market research, sales material or many more. Management of the company has develop strategies, plan in order to run entire business activities appropriately. Marketing manager has conducting market research to identify clients needs, preference, attitude, motivation factors, perception behaviour and many more accordingly firm are produce goods and services to satisfy consumers demand effectively. In this assignment choose McDonald's company in order to analysis impact of marketing essentials elements on organisation performance as well as productivity (Dibb and Simkin, 2013). McDonald's is a fast food firm that was established at America in the year 1940. It was introduce by Richard and Maurica McDonald. It is a world largest fast food restaurant chain on the basis of their revenue. They are serving around 69 million clients daily from 36900 outlets in over 100 nations. Management has make contract of franchisees to enter into new market segment. Here approx 375000 employees are working and generate total income of US$ 4.686 billion in 2016. This report covers role of marketing and its interrelation with other department of an organisation. It also includes marketing mix of McDonald's and its marketing plan.
P1 Role and responsibilities of marketing function
Marketing: It is a process firm has identify customer's needs accordingly develop product in order to create value for clients and build strong relationship with potential consumers to capture worth for buyers in return. Marketing procedure has follows some step that are detail as follows:
Marketing manager has identify consumers needs and wants by organising market research activity (Lamb, Haia and McDaniel, 2011).
Through this, they are know which kind of goods may produce like in size, colour, features etc.
They are design a customer – driven marketing strategies in order to capture large market share in current industry. Through this, firm are able to provide satisfaction to potential consumers.
Management has develop integrated marketing system thus help to deliver superior value to buyers in an effective manner. Through this, they are able to provide higher quality services to their clients effectively.
Marketing manager has build profitable relationship with their consumers by this they are create buyers delight value to get satisfaction in long period of time appropriately.
In the last, organisation has capture value for their market buyers thus help to create profits and consumers equity in long run.
Needs, Want and Demand: According to marketing, needs can be define as consumers state for particular goods and services in order to get specific benefits, whether it is a function of emotional state. Wants is a desire of particular product to satisfy that needs (Mettler and Guiberteau, 2011). Demand is a specific goods that has capability to full fill need effective so that for this individuals has ability as well as willingness to buy that item.
Current as well as future trends: In present market environment, marketing has ability to change to whole industry trends effectively. Marketing manager has conducting market research to identify future needs of clients. Through this information, firm conducting forecasting related to sales, funds, resources, inflow, outflow, inventory and many more thus help to predict future trend effectively. Each one company used marketing tool in order to increase awareness about commodities among potential consumers in an appropriate manner.
External environment impact on marketing activities of McDonald's: There are several external factor are available which are create positive as well as negative impact on an organisation performance, productivity.
Product: Product development is a most important function of merchandising management. Marketing manager has conducting market research in order to identify clients preference, attitude, motivation factor, needs, demands, perception, behaviours, disposable capabilities and many more accordingly they are develop goods and services that help to enhance customer's satisfaction in long period of time. Through this, enterprise are capable to achieve objectives as well as goals effectively and gain sustainability in long period of time.
Prices: In order to get competitive benefits, management of McDonald's has develop two kind of pricing strategies low cost and high cost thus help them to sell their product and services large number of customers segmentation (Lovelock, 2011). Through this activities, firm are able to attracting many individual toward their goods. Mcdonald's has offer services commodities with different prices like Double Filet – O – Fish $ 4.79, Big Mac $ 3.99, Priminum chicken bancon clubhouse $ 4.49, Premium chicken meal $ 6.49 and many more.
Distribution: Mcdonald's has enter new nation with franchise model so that they are easily sell large number of product to big market segment. Through this channel organisation are able to enhance customer's satisfaction in long period of time effectively. Mcdonald's has poor distribute relationship so that some time they face losses resulted reduce market share as well as profitability. This kind of corporate practices has create firm negative image in the mind of customers resulted reduce brand value as well as image at market place. So that, it is very important for the company develop effective strategies in order to solve this issues effectively in order to shape their image as well as enhance clients satisfaction.
Promotion: There are several method are available to promote product and services. It is a process to spread information among consumers effectively in order to make brand recognisable. Management of Mcdonald's has develop strategies in order to promote good effectively thus help to increase awareness about product and services features, colour, size, prices and many others things (Lipsman, A. and et. al., 2012). Promotion has two kinds paid as well as non paid and firm has used both techniques in order to attracting large number of individuals toward organisation. Some paid mode of promotions which are used by company are social media, newspapers, books, magazine, sponsorship, billboards, hoarding, TV advertisement, internet etc. Non paid promotional techniques are organising charitable function which create positive image of the company in buyers minds.
Selling: Selling is a action to sale something to customers with the hope of monetary value. McDonald's has selling their product only two mode at store and online, both has very attractive method to sales product and services effectively to large audience. Management has provide training to their employees to deliver quality of services to their buyers thus help to get higher customer's satisfaction in long period of time appropriately.
Finance: Finance department has very important for each one division as well as whole organisation because they are provide fund to each section for run their business activities appropriately. Finance manager has prepare budget, financial statements, forecasting, fund allocation, resources, cash inflow and outflows, make annual report or many more (Brassington and Pettitt, 2013). Mcdonald's has run their whole business activities effectively when their financial management is very strong.
Marketing information management system (MIS): It is a computer software that help organisation to manage all information related to each one department like sales, production quantify availability, vendor outstanding and many others. That help to manage all data effectively and interpreted that if firm wants thus help management to take right decision for future events. It is related to each one selection of enterprises so that in present modern era it save time, resources, manpower efforts etc. of the company thus help to achieve goals and objectives in given time frame appropriately.
P2 How responsibility and role of marketing relate wider company context
Marketing manager has conducting market research to analyse clients preference, attitude, behaviours, perception, needs etc. accordingly they are develop commodities and services thus help to achieve higher customer's satisfaction as well as market share. Management of Mcdonald's has develop strategies and plan in order to produce high quality goods for this they are provide training to their staff members thus enhance their skills, knowledge and may others. So that, all functional department of an organisation has interrelated to each others and work together to achieve common aim and target appropriately (Durmaz, 2011). Some functional department and its relationship with marketing are explain as follows:
Marketing function relationship with human resources: Marketing department has needed employees those has capabilities to sale product and services. Human resources manager has hire candidates according to requirement of marketing management and also providing training to existing employees or new applicants related to their work effectively. Through this activities, staff members are able to deliver higher quality services to their potential customers and close the deal very effectively in give time frame. So that, both human resources division and marketing department has interrelated to each others effectively.