Marketing is a means of communication which take place between an individual and customers where the main goal is to sell the products to the customers. Describing the value of one’s product and service is the key aspect of marketing.
The main goal of marketing is exchange of the goods and services from the organization to the consumers in a way in which customers feel satisfied with the product. Marketing functions begin with identifying the needs of the customers and end up satisfying those customer’s needs. The global functions of marketing involve selling, buying, storing, grading, standardizing, risk taking and marketing organization information. Moreover, modern marketing has come up with new implications which include gathering of marketing information and analyzing the information. Market planning and strategy formation. Designing of product and functions falls under market functions. The important of marketing are discussed below in regards.
It involve identifying the customer needs, wants and demands and analyzing the information so as to come up with the best decisions for a successful marketing of the organizations goods and services. The analysis of this information include judging the organization strengths and weaknesses and also the political, social and demographic conditions of the target market. The information is used further during market segmentation. McDonald’s in addition, the organization opportunities and threats are identified.
Market planning aims at achieving the organization marketing objectives. The objectives include increasing the organization presence in the market, dominating the market and increasing the shares in the market. Market planning covers the area of production levels, the promotions and other actions programmers.
Buying and selling is the core principle of marketing. It ensure that the firm’s product are available in sufficient quantities and there is no deficit so as to meet the customers’ needs and demands.
In McDonald for instance, exchange functions is enhanced through advertising of their products, personal selling and sales promotions.
- Offering the best assignment writing help
- Delivering the orders as fast as possible
- Providing maximum satisfaction at affordable rates
Product Designing and development
The designing of the product make it attractive to the target market and enable organization to compete with other firm in the market. In the market today, the cost is not only the determiner on how the product is sold but its appearance matters a lot. This include the product design, shape, style, suitability which enable the organization to make more sales.
The physical distribution of marketing function include the storage and transportation of the product. Transportation include moving the product from one point to another to make it more convenient to the customers. Storing include warehousing the products until they are required by the customers. This make it easier to deliver when the need arise.
Standardization of the product and grading
Standardization involve producing goods at a desired specifications. It ensures that the product meet the established quality and standards. It ensure that uniformity and consistency is achieved on the output product. Grading involve classifying goods into various groups according to their characteristics. It include controlling the standards on size, weight and branding of the product. Grading also helps in determining the pricing decision of the product. The products which are of high quality attract are sold at high process.
Financing in marketing function involves giving credit to the channel members and consumers so as to enable them purchase the product at higher rate.
Risk taking is one of the important aspects in marketing functions. In marketing, risk taking involves uncertainty in producing the product. Goods and services are produced with hope that customers will purchase them in future. This is one of the characteristics of the successful entrepreneur. Everyone in the firm should be a risk taker.
Packaging, labeling and branding
Packaging include designing the package of the product (Davis, 2013). Labeling s where necessary information is put on the product. Both packaging and labeling play major role in promoting the product in today’s generation. Branding help to differentiate the generic commodity name to the brand name McDonald firm ensure that they have unique branding so that their product are easily identified in the market. The strategy help in increasing the sales of the product.
Customer support is one of the important aspect when it comes to marketing function. It include the after sales services, solving the customers complaints and adjustments, providing the maintenance services, credit services, technical services providing customer with the information on the products. For instance, McDonald advertise their products and provide customers with full information regarding their products.
Define the roles and responsibilities of marketing through an example of McDonald's
Marketing managers mostly responsible for developing a personality for McDonald's as a brand. They uses various communication channel for advertising and promoting by the help of color, design and images(Kachersky and Lerman, 2013). It also identifies various stages in marketing process, Branding develops personality of product or services. McDonald also faces competition from other business organization.
It may be in the form of economic, legal and technological changes along with social factors. The retail environment of fast food market more competitive so that marketing involves identifying customers needs and requirements-in better way than competitors which helps in to create loyal customers(Kennedy and Parsons, 2014). Customers are not all the same level different types of customers have different needs. For example: Children Want to visit McDonald’s as it is a fun place to eat. A business customer visits McDonald’s during the day of service is quickwithout affecting a busy work schedule. Teenagers Are attracted by the Saver Menu which is affordable, and the internet access available in restaurants.
How marketing mix elements are interrelate with the organizational functions units
The marketing mix elements and the organizational functions are effectively correlate with the brand equity of McDonald such as product quality, perceived value, geographical presence. It helps to create value for customers and build strong customer relationship in order to capture values from customers in return. Marketing mix strategy is a set of institutions and processes for communicating, delivering and exchanging value for customers, clients, partners and society it also provides benefits to organization and its stakeholders. All the functional units must focuses on the customer satisfaction and on their needs (Loveland and et. al, 2015). effective marketing plan approachable to getting the right product, to right people at the right time, at the right place with the right price with right communications and promotions.
Many franchises operating worldwide in marketing their products can either fail or successes in attracting the customers overseas. One of the company that is doing better when it comes to marketing their product overseas is the McDonald. There are firms which has succeeded globally by incorporating marketing strategies by taking the advantage of the cultural differences which each country has. This has enabled such firms to win customers in those countries.
McDonald is also known for creating the marketing strategies that appear in different countries but they are changed to fit the demographic of the country. For instance, McDonald asked the Musician Justin Timberlake to perform commercial in United States for their products. Despite that Justin Timberlake is popular China, McDonald decided to use the local artists so as to win more customers on the product.
The winning strategy on McDonald not only take in to consideration outstanding visual advertising that relate to the international markets but it also identify the best options that satisfy the pallets of a particular country that is different from America. This options enable the international countries to enjoy the services of the McDonald without interfering with their cultural customs. For instance, in country like India where eating beef is not allowed, McDonald have created the Pizza Mac-duff in the country so as to get customers. This choices is making McDonald increase popularity regarding his products since he ensure that he respect the culture of each particular nation.
Another strategy employed in McDonald is testing of the product. Experimentation is very important for the product and is often carried out through deleting some food from the Menu and updating them according to customer trends and local popularity. For instance in Japan, apart from the traditional menu one can find the seasonal and the limited items such as the Tsukimi Burger which is mostly served during the season of Tsukimi (Autumn). In United States, McRibs is available for a very short time during the year.
In addition, there is secret Sauce, the marketing and labelling strategy of the McDonald is based on uniformity of the product regardless of the country. At any particular place in the world,one can be able to identify the most iconic menu items for instance the Big Mac. The atmosphere and experience signify the expectation of the consumers is fulfilled because he or she is always aware of what is expecting from the restaurant. Regardless of the geographical variety, the brand of product is very consistent with carefully attention on the details which make the values to be applied globally.
Another strategy is Global product marketing, when comparing the US McDonald and the Japanese version, it easy to appreciate the localized marketing strategies. The brand names used in different countries is the same to suit the locality. In japan, the drink sizes and the fries are smaller compared to those in US and the burgers are also smaller so as to cope with the eating habit of the Japanese. McDonald make sure that the product are in correct sizes before exporting them to international target market. Despite that McDonald offer their products all over the world and being one of the popular restaurant, the brand keep recognizable due to its original meaning and the identity.
Another tactics is innovation and collaboration. According to McDonald, globalization entail embracing and engaging different cultures and ensuring that the brand of its product is retained and identifiable. To ensure that the brand transcend into different culture, they employ online innovation which help in bridging the gaps between cultural and physical gaps which can hinder the connection with the global audience.
Another strategy involve making the branding exceptional. Due to well sophisticated online platform, one can source marketing and branding talent from across the world and conduct all the activities online. With McDonald, one can make and order on items and being delivered to them on time. Branding and labeling make the product unique and customers can easily identify the product.
There are two main types of market research - quantitative research involving collecting a lot of information by using techniques such as questionnaires and other forms of survey. Qualitative research involves working with smaller samples of consumers, often asking them to discuss products and services while researchers take notes about what they have to say. The marketing department will usually combine both forms of research (Farese, Kimbrell and Woloszyk, 2005).
The marketing department will seek to make sure that the company has a marketing focus in everything that it does. It will work very closely with production to make sure that new and existing product development is tied in closely with the needs and expectations of customers(Gosling and et. al., 2017).
Modern market focused organizations will seek to find out what their customers want. For example, financial service organizations, will want to find out about what sort of accounts customers want to open and the standard of service they expect to get. Retailers seek to find out about customer preferences for store layouts and the range of goods on offer. Airlines will find out about the levels of comfort that customer’s desire and the special treatment that they prefer to receive. A useful definition of marketing is the anticipation and identification of customer needs and requirements so as to be able to meet them, make a profit or other key organizational objectives.
To attract children, McDonald’s has Happy Meal where children are given one toy on each happy meal, there are toys which range from hot wheels to various Walt Disney characters. Example of the latest range is the toys of the movie (MadagascarDibb and Simkin, 2013). For this, they have collaborated with Walt Disney. At several outlets, it also provides special facilities like play ground where children can play games, air hockey, among others Thus strategy is targeting in making McDonald’s a fun place where customers can enjoy both playing and eating. This also helps McDonald’s to attract the young urban families who wanted to spend some quality time, while their children can enjoy every movement of McDonald’s. To target the teenagers and young youth, McDonald’s has priced several products aggressively, bearing in mind the price sensitivity of this target customer.
Recommendation for McDonald's through a comparative study of McDonald's development in India concentrate on business and competitive strategy in the market, researcher would like to have some recommendations for fast food restaurant if they wish to expand their business in Bangalore market. Business strategy(Onyemah and Akpa, 2016). Running out more outlets is the main objective way at this stage. The franchise chain will be an inevitable road to business expansion. Competitive strategy include providing featured service and health products, Achieving standardization in each process and areas of service, Establishing a brand image that can venture into the market, Setting target market with clear personalized positioning.
Maintain consistency in the taste and quality of products, Include more items in its product line like pizzas. Include more promotional and advertising techniques to increase the products,
Weaknesses of the firm include negative publicity(Holliman and Rowley, 2014). McDonald’s is sued for many time by offering unhealthy food to their customers and using lots of marketing aim at children, mostly young age children. Providing food that are not health to individual. McDonald’s has done much effort of bring healthier fast food to clients, however, their table still contain unhealthy meals and drinks that provides a lot of calories than nutrition. High employee turnover. McDonald’s has low paid and skilled job, which result in high turnover of their employees with 150% of turnover rate, even their top managers, consequently, it increases cost of training and overall cost of McDonald Low differentiation: Old menu leads to the fact that McDonald brand nowadays cannot differentiate themselves from other fast food chains and Legal action McDonald's food contain huge amount of Trans which is fat and beef oil which has bad effects on customer’s health.
What business tactics should be adopted by the McDonald's towards the achieving of business objectives
McDonald's strategy determines its approach towards developing the competitive advantage. it is a biggest fast food restaurant. McDonald's uses its intensive growth strategies to support continuously development and expansion. Variation in market place impose pressure on the business to adopt and reforms their existing strategies. Its primary strategy is to gain cost leadership advantage it adopts porters five forces model, McDonald's offers variety of products that are relatively cheaper compare to competitors like Arby's. It also developing the business and its products which must have distinction characteristics from competitors. McDonald's also uses the intensive strategies for reaching more customers in markets where already happens operations. McDonald's open new restaurant in North America and Europe by franchises, Its strategic objective is that global expansion through new locations which helps in to penetrate in the market by low price empowerment (West and Sugden, 2011).
Define the coherent evidence based marketing plan of McDonald's
Evidence based marketing defines the combination of proven marketing methods with intensive and meticulous testing (McDaniel, Lamb and Hair, 2012). It is based on statistical evidence, studies, research, trend analysis and industry best practices. Situational analysis shows the current state of market and company, current results and also defines the key benchmarks for success. Market intelligence indicates the key competitors and category leaders also demonstrate the distribution channel which one most preferred by the consumers(Valos and et. al, 2016). It also includes the assessment of the product success by identifying the opportunities and threats. Research also helps in to discover the feasibility of a performance and manages the risk following market. Testing of a market place helps in to identify significant variables and also helps in to making the strategy which one is useful for sales promotion.
If your dream is to get top grades, get a rewarding assignment service from us.Brilliant Assignment Services
Toll Free: +61 email@example.com
From the above carried out report, it can be concluded that marketing plays very important role in growth and success of an organization. Along with this, it can be also inferred that the role of marketing is to gain information about changing customer need and demand. From the above carried out report, it can be concluded that McDonald's has adopted for different marketing strategies in different countries of the worlds. Furthermore, it can be also inferred that effective marketing practices has helped the brand in attaining higher market share and growth.
- Davis, J., 2013. Realizing marketplace opportunity: How research on the black consumer market influenced mainstream marketers, 1920-1970. Journal of Historical Research in Marketing.
- Gosling, M. and et.al., 2013. 2017. Markets and market boundaries: a social practice approach. Journal of Service Theory and Practice.
- Holliman, G. and Rowley, J., 2014. Business to business digital content marketing: marketers, perceptions of best practice. Journal of Research in Interactive Marketing.
- Kachersky, L. and Lerman, D., 2013. Bridging marketing's intentions and consumer perceptions. Journal of Consumer Marketing.
- Kennedy, A. and Parsons, A., 2014. Social engineering and social marketing: why is one “good” and the other “bad”? Journal of Social Marketing.
- Loveland, J. and et. al., 2015. Is diffusion of marketing competence necessary for a market orientation? A comparative investigation of marketing managers and their defining traits. Marketing Intelligence & Planning.
- Mattsson, L. G., 2016. Bridging gaps between policies for sustainable markets and market practices. IMP Journal.
- Onyemah, V. and Akpa, S., 2016. Open air markets: uniqueness about African marketing channels. International Marketing Review.
- Valos, M. J. and et. al., 2016. Exploring the integration of social media within integrated marketing communication frameworks: Perspectives of services marketers. Marketing Intelligence & Planning.