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Marketing Essentials Regent College Level 5

17 Pages 4153 Words 306 Downloads

Introduction

In current scenario, marketing is more important tool for business because it helps in increasing public awareness towards company products and its features. Basically, it is broad concept in which company promote as well as sale products to target customers for attaining their higher satisfaction (Al-Ekam and et. al., 2012). It considers customers relationship, developing new strategy, understanding marketing and customers’ needs and many more. All these are important for company to attain higher success at market place. For grabbing customers attention, it is important for organization to use new and innovative marketing ways to communicate with their customers to influence them to consume company products. With the help of this company easily enhance their profitability level and at the same time also capture larger market share form its rivals. Current report discussed about McDonald’s, is famous food company which offer variety of beverage and food items in over the world. The main aim of this company is to create string customers base. Key roles and responsibilities of marketing functions is mentioned in this report which may leads in improving the performance level of the company. In addition of this marketing mix and plan also discussed in this project which helps in offering quality products and services for fulfilling customers’ demands.

Task 1

P1. Roles and responsibilities of marketing function

Marketing functions play vital role in business organization in which firm improve their performance level by establishing their strong positive at market place. In this various key roles and responsibilities of marketing function helps in reaching target customers by understanding their needs and wants in appropriate manner. Mainly, marketing is considering as an important concept in which firm easily communicate with larger customers in one time and provide them relevant information about products features and verities. This will help in influencing them to consume its products and services and increase company profitability level. In context of McDonald’s, they also use effective marketing concept which provide better support to firm to take right decision towards the purchasing, with the help of this company maintain their positive brand image at marketplace which contribute in inviting larger number of customers (Arguello, 2013). Along with this, it is also important for marketing to effectively play their roles and responsibility which helps in improving the productivity level at market place. All these responsibilities can be understood by following points:

Products: It refer to final goods and services which produce as well as manufacture b the company with the purpose of fulling customers needs and wants in effective manner. Thus, it is important for company to manufacture quality products to invite as well as attract larger number of customers towards its food items which may leads in increasing sales (Bačík, Štefko and Gburová, 2014). In this it is important duty of McDonald’s manager to evaluate customers taste and preferences at the time of producing products. Along with this, taking feedback is also important for company to improve their production process as per customers thinking. As McDonald’s offer cheese, burger, French fries and many more. For increasing profitability level, manager have to use new and innovative ways to understand customers taste and market trends as well. With the help of this company easily take strong place in market pace.

Selling: It is also an important role of marketing function in business organization in which various tools and techniques are used by the marketing manager to gather and collect adequate information which may leads in making an effective strategy with the purpose of increasing overall sales of the company. In this context manager of marketing department is tries to increase sales by providing final product to end users in order to satisfy their needs. For this manager needs to select appropriate tool to sale company products to target customers in effective manner which may leads in increasing customers base. In context of McDonald’s use cost effective promotion channel through which company easily influence customers to purchase its food items which directly contribute in increasing profitability level.

Pricing: One of the important responsibility of marketing function which directly impact on purchasing power of the customers. Thus, it is necessary for manager of marketing is to set product price is more effective by which frim enhance their profitability level. If product price is effective them customers easily consume company products again and again. In this manager of company prepare an appropriate pricing strategy in which company provide quality services at affordable cost which may leads in increasing profitability level of the company. It also helps in inviting larger number of customers towards the products and services and at the same time also enhance productivity level of the company at market place.

Promotion: For increasing public awareness towards the company and its products, it is one of the important tools for business organization (Baker and Magnini, 2016). It is considered as an important function of marketing in which manager have to select appropriate tools and techniques to communicate with their customers and also influence them. In this, there are some tools such as sales promotion, personal selling, public relation, publicity and many more. All these are appropriate for company through which company easily promote their services in market place. with the help of this company easily understand customers needs and wants.

Marketing information system: It is one of the important role of marketing which helps in taking right decision towards the marketing and customers taste as well (Cleverley, 2017). Basically, this system helps in gathering and collecting relevant data and information towards customers taste, market trends and many more. In this manager easily evaluate entire activities in effective manner and take right decision. In addition of this, manager of marketing analyses as well as store data of consumer to attain favourable results.

Financing: Enough fund is essential for each and every business whether it is big and small. Without this company can not operate their activities. Thus, it is important to keep adequate financial resources. For this McDonald’s manager make and effective plan in which they evaluate needed resources in appropriate manner. This will help in providing various opportunities to frim in which they produce as well as deliver quality products and services to its customers. It positively impacts on company and customers mind as well.

Distribution: It is important for company to transfer the right product to right customers effectively. For this, it is vital for firm to choose appropriate channel of distribution through which they easily provide quality services to number of customers. In context of McDonald’s, they having best channel as compare to other companies as they easily cover all the market areas by serving their quality services. Along with this marketing manager also play essential role in evaluating as well as determining the best distribution channel to sell quality products to right customers. With the help of this company easily increase loyalty customers towards its company.

Hence, all these are major key roles and responsibilities of marketing function in which McDonald’s easily operate their activities in effective manner. With the help of these company enhance their sale volume which directly contribute in capturing larger market share.

P2 Roles and responsibilities of marketing relate to organisational context

Every business develops as well as set various department to perform entire business activities in systematic way. All division having some specific roles and responsibilities through which they attain set goals and objectives in appropriate time frame (Desai, 2013). In this, marketing department of business is also play important role which work for understanding customers needs and also develop an effective relationship with them. Along with this, marketing concept also includes sales, promotion, marketing and many more. All these are helps in delivering quality products and services to its customers as per their needs and wants (Dudu and Agwu, 2014). With the help of this, company increase their profitability level at market place. For attaining the same, marketing manager also conduct an effective marketing research to evaluate customers taste in order to compete their competitors which may leads in attaining strong place in market place. In this context, all the department of company are interrelated with marketing function. All these can be understood by following points:

Marketing function with operation function: production process of the product is more important which is relate with operational department. In this, it is main duty of manager of operation department to manage as well as evaluate personnel and raw materials to evaluate the need of resources in appropriate manner. Mainly the main focus of this department is produce quality products which include planning, controlling, organizing and maintaining all the resources in systematic way to attain set goals and objectives. With the help of this marketing department of McDonald’s easily deliver quality products and services to its target customers and attain their satisfaction.

Marketing function with finance department: It is one of the important department which work for arranging enough financial funds to all the department. Along with this, the manager of this function develops and prepare an effective budget after determining all the aspects because lack of funds may arise various issues in front of company. Thus, it is important duty of finance department to allocate adequate funds to marketing division so that they easily perform their marketing activities and also promote products and services in front of larger number of customers. With the help of this company easily attain their target in appropriate period of time.

HR function with marketing department: Skilled and capable workers are backbone for business organization. For this, HR department play vital role in hiring, selecting capable workers for filling vacant place in company. In order to enhance their knowledge HR manager also provide training and development programs which helps in making them capable in which they easily promote their products and services in front of market and also influence their customers to consume it (Lancaster and Massingham, 2010). This department of McDonald’s is highly related with marketing function because all the staff members are work for attaining set marketing target and deal with number of customers to attain their satisfaction by fulfilling their needs according to them.

Sales department with marketing function: Under this both marketing and sales department is highly related with each other because both are work for delivering products and services to customers (Lane, 2014). In this manager use various tools and techniques for communicate with final customers for encouraging as well as influencing them to purchase company products. This will help in increasing profitability level of the company and at the same time also create strong customers base. In context of McDonald’s, manager easily attain their set goals and objectives in settled time frame.

Marketing function with R&D function: For attaining higher success in market, it is important for firm to make better coordination between marketing and research department. As the main focus of this department is to undertake an effective research to effectively understand customer taste, market trends, competitor’s policies and many more. With the help of all these marketing department produce quality products and services as per consumer taste which leads in attaining their satisfaction and also grab their attention towards the company goods and food items.

IT department with marketing function: Under this, IT function refer to various technologies and software which used by company to attain their set target. By using this, McDonald’s easily connect with their customers and understanding their wants. As company produce their quality goods accordingly (Marketing Structure, 2010). Facebook and Twitter are famous and common tool through which company communicate with their customers and collect their information as well. With the help of this marketing department of company enhance overall sales and profitability level as well.

All these are interlinked with McDonald’s department in which may helps in improving the positive image of the company in customers mind. Thus, it is important for manager to effectively use all these and communicate with their customers. This will help in taking right decision and at the same time also invite larger number of customers towards its products and services.

Task 2

P3 Compare ways to use elements of marketing mix

Marketing mix is an important aspect which refer to combination of entire tactics and strategies which may helps in making an effective marketing plan. It is important elements through which company easily produce quality goods and services for larger number of customers. Marketing mix consider 7 elements such as products, price, place, promotion, people, process and physical evidence (Marketing Mix, 2018). All these are necessary for firm to effectively evaluate and implement in order to attain set marketing target. With assistance of this company enhance increase their sales and profitability as well. In this context there are comparison between different firm McDonald’s and Burger King. This can be understood by following points:

Marketing mic of McDonald’s

  • Product: As McDonald’s is famous and biggest fast food company serve variety of food items in over the world. Company has various products which sale by them to its customers in order to satisfy their needs and wants. Burger, French fries, drinks, sandwiches and many more are the products of this company. Along with this, they also offer high nutritional value of products to customers. By this they easily maintain customers health. Quality food items of company can enhance loyalty customer base which contribute in profitability level.
  • Price: It is monetary term which charge to customers for product. Thus, it is important for company to set their product price affordable as customers are easily consume it. As McDonald’s use cost leadership strategy in which they set their affordable cost of food items. With the help of this company increase their customers base and profitability as well.
  • Place: McDonald’s operate their business in approx. 119 countries. As they use expansion business strategy in which they focus on covering rural and urban areas by providing their services to customers. This will help in enhancing their market share and productivity as well (Malhotra, Birks and Wills, 2013).
  • Promotion: It is one of the important element which crease customers awareness towards the company products. In this the main aim of McDonald’s is to create customers base by promoting their services in market place. Through television, social media, hoarding and many more company promote their products. With the help of this they easily invite larger number of customers in relation of their food items.
  • Process: McDonald’s use transparent process which is visible to customers. Along with this company also use new and innovative methods within their production process on regular basis. This will help in improving their performance and productivity as well in front of customers.
  • People: Customers and staff members are the important for McDonald’s for improving their entire performance. As the uniform of company staff members is more attractive and hygienic which will invite customers (Martin, Campbell and Harmsen, 2014). Mainly company focus of establishing friendly environment to its customers and workers as well.
  • Physical evidence: It refer to appearance of outlets of the company which invite number of customers. Thus, it is important for McDonald’s to make their outlets attractive so that customers are visit again and again. This will help in increasing profitability level of the company.

Marketing mix of Burger King

  • Product: Burger king also deal in food industry in which they offer Burger, French fries, drinks and many more. Along with this they also offer combo meals to its customers in order to compete their competitors. The main focus of this company is to maintain their quality products.
  • Price: Burger king follow market-oriented pricing strategy in which they serve their products at affordable cost. With the help of this company easily grab customers attention and fulfil their needs easily. They focus on their product quality and cost well.
  • Place: Under this, stores of Burger king is various countries in like Taiwan, India South Korea and so on. As company sale food items as per customers demand which may enhance their sales and profitability as well.
  • Promotion: Burger King use effective promotion activities to communicate with people and provide them information of products. Along with this they use social media, internet and many more to connect with larger number of customers.
  • Process: It is important part of firm in which Burger King also use transparency within their production process as any one can se their manufacturing of the food items. In addition of this company also make necessary modifications within their process on daily basis to enhance their productivity level at market.
  • People: Burger King having skilled and capable staff members in which they easily serve quality products to its customers by understanding their needs (Moons and et. al., 2010). With the help of this consumers are highly satisfied with workers services and give them appreciation as well.
  • Physical evidence: Under this firm expand their business in various developing countries and also set attractive stores where number of customer are visit again and again. This will enhance customers base of the company.

TASK 3

P4 Basic marketing plan

Marketing plan is one of the important and written document which define outline of the marketing. By making an effective plan company easily improve their performance level at market and also capture customers attention as well (Perreault, 2010) (Wieser, 2012). Mainly it considers as a formal document which cover company mission, vision, aims and so on. All these contribute in determining actual performance of the company at market place. In context of this, marketing plan of McDonald’s can be understood by following components:

Overview of the company

McDonald’s is famous and popular fast food company which established by Richard and Maurice McDonald in 1940. This company is famous by its menu and products line such as desserts, milkshakes, cheese burger and many more. McDonald’s deliver their quality products in over the world.

Vision

The main vision of McDonald’s is to be leading company in over the world by quickly provide quality products and services to large number of customers in order to provide better customers experience.

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Mission

Mission of McDonald’s is to create loyal customers by providing them quality food items to its customers.

SWOT analysis of McDonald’s

Strengths

Weaknesses

· Famous and biggest brand image

· Quality of food items with competitive price is also a big strength of McDonald’s (Campbell and Martin, 2015).

· High competition in market place

· Revenue growth of this company is slow

Opportunities

Threats

· Company expand their business at international level

· Joint venture with supermarkets in also a biggest opportunity.

· Down economy of nation is negatively impact on company

· Demographics changes.

· High fluctuation in foreign exchange

 

STP of McDonald’s

  • Segmentation: McDonald’s segment various areas such as demographic, psychographic and demographic. Company deliver their services in these markets (Dibb and Simkin, 2013).
  • Targeting: Company target kids, families and teenagers to serve their food items.
  • Positioning: McDonald’s create their positive brand image in front of customers as they use various positioning strategy to target market in order to attain high success in competitive market.

Marketing mix

  • Product: Burger, French fries, cold drinks, Hamburgers, desserts and many more are the product of McDonald’s. through which company easily fulfil customers demands.
  • Price: The cost of the products should be affordable so that customers are easily buy and consume. Under this, McDonald’s include bunding price strategy in order to offer their products to customers.
  • Place: Under this, company select convenient place to operate their stores in which they easily offer their customers. This will help in creating larger customers base and profitability also.
  • Promotion: Company use various promotional tools to connect with their customers and at the same time also attract them towards company products and services (Hsu, 2011). Personal selling, advertisement, direct selling and many more used by the company to invite number of customers.

Marketing strategy

For attaining higher success, McDonald’s use an effective marketing strategy to enhance their performance level. As company select relationship marketing strategy which helps in developing good relation with customers. This will enhance the profitability level (Draelos, 2010).

Execution

Under this, manager of the company ensure that all the steps are effectively follow by the company because it helps in attaining set goals and objectives in appropriate time frame and at the same time also capture larger marker share.

Evaluation

This is last step of marketing plan which helps in evaluating the effectiveness of the strategies which used by the company to improve their performance level (Eslinger, 2014). This will help manager to take right decision which directly contribute in creating positive brand image at market place.

Conclusion

From the above discussed assignment, it has been summarised that marketing is important study for each and every firm who operate their business with the purpose of attaining high success at market place. This term is highly contributing in building strong relationship with customers by fulfilling their needs and wants. Mainly, it is considered as an essential tool through which firm create public awareness and at the same time also capture customers attention towards its products and services. Along with this, it also includes various tools and techniques which helps in inviting as well as influencing customers to buy company products in order to increase profitability at market place. In business organization key roles and responsibilities of marketing function is also vital in which manager of marketing easily deliver quality services to its target customers with the aim of capturing larger market share from its rivals.

Refrences

  • Al-Ekam, J. M. E. and et. al., 2012. Determining the antecedents of actual purchase of local product brand in Yemen.American Journal of Economics, special issue. pp.97-100.
  • Arguello, N., 2013. Secondary marketing research certificate: library collaboration with the college of business and marketing faculty.Journal of Business & Finance Librarianship. 18(4). pp.309-329.
  • Bačík, R., Štefko, R. and Gburová, J., 2014. Marketing pricing strategy as part of competitive advantage retailers.Journal of applied economic sciences. 9(4). p.30.
  • Baker, M. A. and Magnini, V. P., 2016. The evolution of services marketing, hospitality marketing and building the constituency model for hospitality marketing.International Journal of Contemporary Hospitality Management. 28(8). pp.1510-1534.
  • Cleverley, W. O., 2017.Essentials of health care finance. Jones & Bartlett Learning.
  • Desai, S. S., 2013. An analysis of the competitive marketing strategies of the hospitality industry in UAE.IUP Journal of Management Research. 12(1). p.22.
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