Marketing Essentials On McDonalds

MAIN BODY

PART A

Marketing mix is the concept which an organisation utilise for identifying their value of business within market area. It includes 7Ps of marketing mix i.e., product, price, place, promotion, physical evidence, process and people. Comparison within two same sector organisation are as follows :-

PART B

Marketing plan is important strategy of an organisation which help in creating framework for new offering of an business organisation. Through marketing plan company can build long term relation with customers as well as generate high revenue in easy manner. In simple words, marketing plan is consider as blueprint which utilise for determining marketing and advertising approaches of organisation for upcoming practices. Below mention is marketing plan of McDonald's explanation of this are as follows :-

Introduction To Company :-

McDonalds is American Fast food company which was founded in 1940 by Richard and Maurice McDonald. It is well known for their hamburgers, cheeseburgers and French fries along with this, they also features chicken products, breakfast items, soft drink, wraps, desserts and many more. Company is serving their quality services in more than 110 nations which have around 37000 outlets.

Vision -

To become progressive organisation in the world of fast food.

Mission -

To become most well known platform for every age group people for food and drinks.

Marketing Objectives of McDonald's

• To offer varieties in burger with some healthy supplements for increasing great number of customers around 20%.
• To enhance sales by 10% in 1 year.

STP Model

This model consist of three steps which assist in analysing companies offering and the way of communicating its benefits and value to particular group. STP stands for Segment, Target and Position explanation of these in relation of McDonalds are as follows :-

Segment: 

Market segmentation is the procedure of dividing up mass market within different group of similar needs and want. Motive behind conducting segmentation is to know more detailed manner, gain competitive advantages and able to serve customers in better manner. Respective organisation uses different type of segmentation for breaking large market within small customer group. Thus, in geographic and demographic segmentation they had divided their customers.

Target:

Mc Donald's is a fun fulfilled environment place that targets Children with Happy meals, youngsters with free WIFI. MC Donald's all day breakfast has been on the menu for a long time is has started newly in Australia and New Zealand to serve breakfast lovers during the whole day.

Position:

Mc Donald's is fighting to position its brand against its rivals around the globe, the rivals Mc Donald's are KFC, WENDY'S, BURGER KING. Mc Donald's has used advertising through social media and billboards as their mainstream to position its brand against its rivals. The pricing strategy has been a strategically tool for Mc Donald's to position its brand and in its products in the consumer mind.

Marketing Mix :-

It is an framework which utilise by an organisation anaylsing their existing value within organisation. Marketing mix involve 7P's explanation of these to McDonals are as follows ;-

• Product - McDonald's is popular organisation of fast food industry as well as by them primarily breakfast, burger, fries, chicken, sandwiches, snacks, desserts and many more are selling. Along with this they offer variety of options to their customers such as Egg McMuffin, Egg White Delight McMuffin, Hotcakes, Hash Browns, Quarter Pounder with Cheese, Double Quarter Pounder with Cheese, Hamburger, Cheeseburger, Double Cheeseburger, Vanilla Shake, Vanilla Cone, Hot Fudge Sundae, Kiddie Cone, Hot Caramel Sundae, Strawberry Sundae, Baked Apple Pie, McCafé Chocolate Shake, McCafé, and McCafé Frappé Mocha are some of the products offered by McDonald's.
• Price - McDonalds is using several pricing techniques for selling their products. These are some popular pricing techniques Value pricing, going rate, cost plus pricing, price discrimination and loss leader. Overall aim of respective company to offer food at competitive value driven price for customers. Along with this, within different restaurants of McDonald's price slightly vary as per number of factors. While price are set by the through demand based methodology.
• Place - Respective restaurant implement different distribution strategy within their working as per particular nation requirement. As they are offering home delivery services within few nations whereas, in some countries this services is not available. Along with this, Few of McDonald's restaurants are open 24 hour a day.Thus, it is best illustration of intensive distribution that simply means that making availability of goods for sale by all possible distribution channels.
• Promotion - Advertisements are notable among its promotional tactics. There are several techniques which use by McDonalds for promotion and communicate with customers such as television, magazines, newspaper, internet as well as other media outlets. Along with this there are some other techniques also which company use for its sales promotion. For instance, on purchasing of six cup tea/coffee get six stickers and have one cup free. They also offer some discount coupons and freebies.
• Process - It is related to set of activities which are performed for in order for achieving something. McDonalds has undertaken numerous activities within their operations for serving customers in effective manner. For instance, within overall process food activity is important as food preparation within McDonalds is completely transparent the whole process is visible to the customer. Other aspects of the process include but not limited to how customers place their orders, how long they wait for their food, and how they are treated by the customer care assistants.
• People - UK and Ireland McDonald's have approx. 97,000 staff members.Out of this UK 70% McDonald's restaurant are owned as well as operate by local business men or women's of that particular area. In a year respective fast food chain restaurant invest approx. £40million in providing training as well as development session to their staff members. In marketing mix main objective of discussion within people aspect is to address issue which are related to both customers as well as staff. In the situation when personnel are not satisfy or happy they will not going to deliver better customer services. It may result in frustrating customers and they will never come back to store again. Thus, for an business firm it is essential to devise suitable strategy for fulfilling customers and staff both requirement.
• Physical evidence - It is last aspect of marketing mix and it refers to the physical evidence of company within market area. Organisation physical evidence will effect not only impression of customers but also functioning of McDonald's. Respective restaurant physical evidence is good as they have attractive interior as well as maintain hygienic.

Marketing Budget :-

CONCLUSION

From above discussion it has been summarised that marketing is important process within an organisation as it help in attracting customers. Along with this, if help in gathering information as well as data which provide assistance to company in serving their customers as per requirement. Moreover, their gathered information and data play essential role within decision taking. Apart from this, company have to design proper market plan in their working for satisfying customers and effective utilisation of available resources. Get more detail about assignment help from our experts.

Also read:- Marketing Essentials Regent College R/508/0486

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