This assessment will cover the following questions:
- McDonald is worlds largest chain of fast food restaurant in UK. Explain the role of marketing and its significance in the effective functioning of McDonald.
- How basic marketing plan helps to achieve organisational objectives.
- Identify the roles and responsibilities of a marketing manager in an organisation.
- What are the elements of marketing mix used to make expansion of business.
INTRODUCTION
Marketing and its essentials are considered as necessities in the functioning of an organisation Marketing is the process of understanding the wants of the customers and convert their wants into the actual value generation. Technology and social media are two aspects which are trending now a days(Muller, 2017). This report will be carried on McDonald's which is the leading fast food chain and restaurants which provides food services such as Hamburger, sandwich, burger, drinks, desserts etc. to their customer. The report will put focus on analysing the current trends, marketing process and roles and responsibilities of the marketing manager. It will also tells about the relationship of marketing with other functional unit of organisation. This will put emphasized on the preparation of the marketing plan for the product development and expansion of the business.
TASK 1
No.1 Concept of marketing and its current trends for the chosen organisation
The concept of marketing is considered as the wide theory with broad understanding of the actual scenario of the market. According to American Marketing Association, “Marketing is an activity, set of institutions and process for creating, delivering and communicating offerings which creates value sand results for clients, customers, society and others”. There are various marketing concepts are as follow:
Marketing concepts: This concept is the philosophy that firms should analyse the needs of their customers and then make decision to satisfy those needs, better than the competition. It involves Segmenting, targeting and positioning along with usage of several marketing mix such as pricing, product, promotion etc.
Selling concept: Selling concepts proposes that customers, be an individual or business firms will not buy enough of the organisation's products unless they are persuaded to do through their selling efforts.
Product concept: It is an understanding of the dynamics of the product in order to show the best qualities and maximum features of the product. Marketers spends their maximum time along with with research in order to target their actual audience.
Now-a-days, there are various current aspects which are trending in the present in context with marketing. The following trends are belongs to the future of marketing are as follows:
Technology: Various sectors such as Ed-tech and It has become scope for raising and employment generation now a days. Technological marketing has raised level of satisfaction of the customer using feedback and post evaluation after purchasing and selling of goods and services.
Social media: For marketing purpose, social media has now become easy for targeting the customers online as well as offline. Companies can target the customer via Facebook, Instagram, Twitter etc. to invite customer to buy different types of products both online as well as offline(Raymond, 2015).
No.2 Overview of different marketing process
In context with McDonald's, there is a requirement of brief marketing process for the expansion of the business which is as follows:
Mission: In this stage, top management of McDonald's needs to specify their mission and vision statement to define the goals or objectives of the company. The mission statement will put concern over the continuous improvement in the products or services of the company.
Situational analysis: In this next step, main focus of an organisation lies on the growth and opportunity analysis by doing the PEST and SWOT analysis.
` Marketing strategy: In this third step, top management of the McDonald's targets their audience primarily and decides the goals or objectives in order to develop budget and cost certainty for the overall period.
Marketing mix: After formulation of the marketing strategies, next process here is deciding the price, place, promotion, promotion and product development etc.
Implementation and controlling: After the deciding the marketing mix, it is the foremost task to control all the activities relating to all the activities regarding the product as well as market development.
No.3 Roles and responsibilities of the marketing manager:
In context with McDonald's, marketing manager is one who control and manages the marketing resources to plan and build particular products or services. He may be responsible for one product or multiple products. There are various function and responsibilities of the marketing managers are as follows:
Assisting top level management: The main role of the marketing manager is to work and collaborate with the top management to accomplish its well-defined and structured goals & targets. Its major task is to assist with top level management to decides and plan the course of action for effectively conducting the marketing functions correctly and effectively.
Identify the potential market: The major roles & responsibilities of the marketing manager is to create and ascertain actual demand of their business products and services and also, its the major duty of marketing managerial person to identify the actual potential and healthy market for the McDonald's products or services.
Evaluate the product: It is the major defined job and duty of McDonald's marketing manager to conduct several activities regarding the post-evaluation of their fast food product such as taking feedback, survey from the customer after the selling of goods or services for optimised quality of their products or services (Iyer, 2012).
Ensure timely delivery: In context with McDonald's, the prime and foremost role of the marketing manager is to deliver their fast food products to its actual customer's by applying the workforce or manpower with the right skills and talent.
No.4 How marketing interrelates with other functional departments of the organisation
In context with McDonald's, Interrelation between marketing with finance, operations, human resource etc. plays an important role in development of an organisation. If there is favourable and effective relation between each department of an organisation, it will be beneficial for the company to achieve their planned and decided goals and targets customers in an easy manner. Relation of marketing with other departments of an organisation are as follow:
Marketing: It is most functional department of every organisation, with major focus is on promoting and selling the products or services of the business entities, The concepts of marketing function is wide, with its relationship with other departments of company. Its has to be work with human resource, finance, operation, R&D etc.
Marketing with Human resource: The major task of the HR Dept. is to hire most appropriate and adequate workforce to perform various marketing and sales activities together. But marketing is most important department to generate sales and revenue for the company. In context with McDonald's, both marketing-human resource Dept. works inter-related, in such a way that marketing department directly connected to human resource for hiring the employee's and training as per the requirements for marketing functions. The combination of both would definitely result in the achievement of the desired goals or targets.
Marketing with Research & Development: It is the major role of marketing Dept. to create idea generation for the development of products and services. After the creation of an idea , next comes screening of an idea to evaluate and finalized the production of the actual products In context with McDonald's, R&D Dept., after the generation of idea, direct connects to marketing to do the brief analysis or market research to scope to know its future scope. After such, it is the duty of research department to do appropriate research on various aspects such as: what sort of the customer we need to targets, what are their taste and preference s and what they are looking for (Gengler, 2016).
Marketing with finance: In context with McDonald's, it is the duty of the finance Dept. to raise funds and finance to the marketing department to perform various activities such as sales promotion, product testing, campaigns etc. The marketing and finance role is necessary, in such a way that finance provides the budget to marketing department for carry out the promotional, sales and distribution activities. It is the main and prime duty of marketing department is to report the sales made during the particular period of time. The outcome is that collaboration between two will lead to achieve of goals/targets as well as increase in the revenue and sales for the McDonald's(Mulvey, 2015).
Marketing with operation: In context with McDonald's, it is the responsibility of the marketing manager and also operation manager to control and manage the overall functioning and activities in the outlets of McDonald's. Operation helps marketing in planning the logistics and supply chain to make products reach to the consumers.Marketing provides the actual number of products to be supply into the markets. If marketing and operations will combined together, the results for this fast food chain would be positive and achievable.
No.5 Values and importance of the marketing role in the context of the organisation.
Importance of the marketing role can be understood by given comparison of marketing with different departments of an organisation. For the success and effectiveness of an organisation, it is crucial for every other department to understand and realize the actual functioning and strategies of the marketing department to focus towards the profitability and productivity. The role of marketing manager is to make outstanding action plan for achieving the higher profitability and productivity through pure trends running in the market. The role of marketing states that companies needs to formulate various marketing programs for successfully conduct the promotion events for success of the product whether tangible or intangible.
No.6 Conclusions for effective interrelationships between different functional departments.
It is concluded that relationship of marketing with other department in the McDonald's is very important and significant to increase the profitability and efficiency of an organisation. Companies needs to emphasize and focus on encouraging this relationships with each other.
TASK 2
No.7 Comparison of marketing mix with other organisation
Marketing mix comprises of 7P's which price, product, place, promotion, people, process and physical evidence. In marketing planning process, it is essential to understand marketing mix of McDonald's in comparison with Subway. It explains how each and every components of the marketing mix contribute to the success of an organisation. It will talk about the past and current trends going in the fast food chain restaurants. As an assistant marketing manager of McDonald's, it is necessary to implement strategies and plans to generate more business for an organisation. McDonald's wants to add new product into the portfolio of existing products. New developed products “Mc Wrap”. For this, it is required to understand the marketing mix of the McDonald's with Subway which are as follow:
|
Marketing Mix |
McDonald's |
Subway |
|
Product |
They offers Hamburgers, sandwiches, chicken, drinks, salad, breakfast etc. to their customers at an affordable prices. For example: this fast food retail has comes up with several add-on products such as chicken puff along with different beverages or drinks. Customer attraction is very high for the McDonald's products and their services. This fast food chain has large range of products and also looking for the adding new product. |
Subway offers submarine sandwich which involves both Veg and Non-veg categories. Subway product range is not as big as the McDonald's but customer taste and preference for the subway is specific. For example: subway has comes up with veggie sandwich with different vegetables and items. |
|
Price |
In regards with McDonald's, they uses inclusive price strategy is almost similar as compared with other fast food channels such as Burger King, KFC etc. For example: McDonald's has comes up with combo fast food products, with exclusive pricing and affordability. They have adopted the low pricing as raw materials are of low quality. They use advance technique for cooking the food in order to save costs and time and offers maximum satisfaction to the customers. For example, happy meal of McDonald's costs £2.49 to the customers. |
Subway is premium priced outlet and uses exclusive pricing strategy. Subway's are able to afford higher prices of their products as they uses ingredients of higher quality in comparison with McDonald's. For toppings and ingredients, they uses vegetables and other products from the other nation. Subway's have rights to use premium prices because of the certification clear about the higher quality ingredients. This will create opportunity and threat for the McDonald's. For example: Subway has offered double chicken sandwiches to their customer's exclusive on an occasion of festival. |
|
Place |
In current period, McDonald's owned 36,525 outlets (Henriksen, 2012.) all over the world including United Kingdom, America etc. They have less stores as compared to Subway because franchise is more expensive to buy and afford. The advantage of McDonald's is that one can get outlets of this McDonald's even in the rural area,s(M. S., 2017). |
In comparison with McDonald's, Subway have 44,875 outlets al over the globe. Subway' geographical presence is almost cool and attractive as they prefers to locate their stores in most premium and stylish places. Both fast food chain have their outlets even in big shopping malls, high food streets and airports etc. |
|
Promotion |
McDonald's promote their products in many different ways such as Billboards, advertisement, pamphlets, radio and social media etc. This fast food chain invests huge money in their promotion and communication. They almost use every methods of advertising to attract the customers and looking forward for more promotional platform. |
Subway uses number of strategies for promoting their products. They uses celebrity endorsements such as Michael Phelps, Pele, Blake Griffin etc. to promote their products(Webber, 2016). |
|
People |
McDonald's use to hire their staff with best possible quality of skills, traits and personalities etc. to serve the customer with almost best and attractive services. McDonald's gives training and motivation an various sectors such as customer engagement, post evaluation, respect and personality development to their staff etc. McDonald's use to give training to their employee on different aspects such as inventory control, operation aspects, financial handling's etc. For example: this leading fast food chain has currently working on empowering their manpower to utilize them in accordance with defined goals and targets of the McDonald's. |
Subway uses autocratic leadership approach for the functioning in their organisation. There employee's and staff at their outlets have individual rights and freedom to implements different strategies for the profitability of the company. Subway use to give training to their staff on the quarterly basis on the several aspects such as employee motivation, customer and people engagement, inventory control etc. For Ex: Subway has initiated the learning & development process to enhance the motivation of their people to perform far better and excellent towards the productivity and productivity. |
|
Process |
In McDonald's, food making process is transparent and clear visible in order to maintain hygiene and health awareness within their customers. They uses advancement equipments for the cooking purpose. Also manpower is well trained on these aspects and purpose. They major reason is that McDonald's wants to serve their customer in least possible time and to save time and cost both. |
Subway uses various electronic cooking equipments such as bread iron, toppings, packaging machine etc. Subway has planned to change their cooking process into the advancement of the technology etc. Subway used to make food products on spot and even in front of the customers(Glanz, 2014). |
|
Physical evidence |
McDonald's have almost 36525 outlets by year 2018. They are looking for expansion in their business by opening 20 more outlets by February 2019. This will help McDonald's to add more customers in their base and more products in their portfolio. |
Subway have 44875 outlets around the globe. They are looking for their own Subway's restaurants. For this , there is a requirements of huge funds for the expansion and promotion purpose. |
McDonald's needs to use all this marketing mixes with executed actions plan along with getting the optimum results of all seven variables. In order to launch any new product, this fast food chain have to realize the market scenario, before implementing such variables for the purpose of efficiency and profitability. McDonald's have to make several changes such as structure of their outlets, organisation along with effective training & development of their workforce to raise the business productivity and efficiency. At last, it is advisable that McDonald's needs to take care of the comparison with Subway to grow and lead in market as the leading fast food chain in the world. Also, McDonald's needs to understand changing scenario and taste and preference of their customers time by time.
TASK 3
No.8 Evaluation of the well structured marketing plan
Marketing plan: It is considered as the well-structured format which contain the strategies and procedures for the development and expansion of the business. Marketing plan is the part of complete business plan. It is to be noted that an effective and solid marketing strategy leads to the foundation and formation of well-written marketing plan(Ellis-Chadwick, 2012).
This marketing plan will be carried on McDonald's for the purpose to launch new products and also identify and acquire new market or customer for the leading fast food chain are as follow:
Overview of the company: McDonald's is the leading fast food restaurants all over the world. It is an American fast food chain which was founded in 1940 by Richard and Maurice McDonald's. In the initial time, it was started with Hamburger stand near roads and streets. Last year, it was awarded as the largest food chain restaurants with the purpose of serving 69 million customers on the daily basis.
Mission & Vision: The Mission is “ to serve people with experience to enjoy and eating fast food”. The vision is “to become leader and biggest rivalry for other chain of restaurants”. The major aim is to deliver best quality of food and taste to the customers and also the company business(Bader, 2016).
Strategic objective: McDonald's has planned to launch new product namely “Mc Puff” sandwich. The strategic formulation and objective is to add more base of the customer's and food lovers into their portfolio. Company has planned for initially 3 percent addition in their customer charts by realising new products into the market to tackle severe competition. For fulfilling this purpose, McDonald's has decided to launch new product “Mc Puff” sandwich for serving their customers and also the existing one's.
Products & Services: McDonald's offers food products such as Hamburger, sandwich, puffs, drinks, deserts etc. along with the various festive offer such as Happy meals and combo to their customers. McDonald's use to serve their service to the 60 million customers on daily basis. For serving fast food, McDonald's have settled to manage somewhere 36,525 outlets till now all over the world. For attracting new customers, fast food leader has decided to launch new product “Mc Puff”. This new products will be very tasty and also suits the customer choice and preferences. This new product has been decided after the complete analysis of McDonald's existing product portfolio. Also company has decided to target 3 percent more customer in their initial stage.
Market research: From the brief research, it was found that McDonald's has lead the fast food chain in the last five years. It was reported that McDonald's product range are now become old and same, from last one year. As a result, they need to launch and add new product in their portfolio. Customer base is 69 million on the daily basis. It is important for the McDonald's to raise the strength of their customer's at least by two percent, it will increase the profitability and efficiency of the McDonald's. It can be best explained by the help of SWOT analysis of McDonald's:
|
Strength |
Weakness |
|
The name “McDonald's has spread all over the world as the leading fast food chain with the purpose to deliver best quality and services. |
The major weakness is the usage of low quality ingredients for the cooking of food and services purpose. |
|
Opportunities |
Threat |
|
If McDonald's wants to raise their business at the more great extent, they need to start buying and using the high quality ingredients. |
The biggest threat is the increasing business and competitor such as Subway, burger king, KFC etc, which are eating business of McDonald's |
STP: It means who all they are we need to target to sell our products. Whether they are specific people by choice, taste, affordability and preference etc. Target market involves Segmentation, targeting and positioning. It will helpful in identifying the need of the people to whom we need to sell our products or services. In context with McDonald's, STP would identify the availability of the customer and also reveals how to attract them and by what medium:
Segmentation: In context with McDonald's, it is the process of dividing the potential customers into two different groups of the responsive people to sell our products or services. Fast food chain needs to target those who are not even used or aware about the McDonald's brand. They need to segment existing as well as new customer(Kuusela, 2017).
Targeting: This means what all sort of the customers we need to look over to do our business. In context with McDonald's, there are three aspects by which we need to identify who they are we want to target. It involves:
Positioning: It will tell how to position or pin the customer using various sources of communication. In context with McDonald's, this fast food chain has adopted the strategies to move on their customer's using social media, promotion, advertisement, gift voucher, attractive coupons and gifts etc. Social media such as Facebook, Instagram, twitter etc. is best suitable and appropriate to pin new and existing customers to buy their fast food products
Marketing budget: For the new product development and outlet expansion, it is required to prepare formal business budget to ascertain the actual requirements of funds or finance for coming three years to perform such expansion and buying new equipments for the new product manufacturing. The formal budget is as follows:
|
PARTICULARS |
1st Year |
2nd Year |
3rd Year |
|
Initial investmemt |
10000 |
12000 |
15000 |
|
Borrowings(Bank loans, credits) |
7000 |
8000 |
10000 |
|
Retaining earnings |
5000 |
7000 |
10000 |
|
TOTAL |
22000 |
27000 |
35000 |
|
MARKETING OUTLAY |
|||
|
Promotion activities |
8000 |
10000 |
11000 |
|
Sales publicity |
6000 |
10000 |
11000 |
|
Districbution and supply expenses |
3000 |
10000 |
9000 |
|
TOTAL |
39000 |
57000 |
66000 |
Control and monitor: In control with McDonald's, after the formulation of the marketing budget, it is necessary to control and monitor the activities in accordance with formulated marketing plan and structure. It is to make sure that all activities and function for the purpose are carried on correctly and fairly (Gummesson, 2016). McDonald's needs to implements the actual monitoring plan to overlook an activities going the new product development. This kind of structure includes the activities decided, standard time to complete the task and also, time taken by McDonald's to developed an actual product along with its complete launching into the market.
The major purpose of monitoring plan to know the step by step completion of task before going to be serving to the customers.
CONCLUSION
From the above report, it is concluded that marketing essentials is regarded as an important concept and theory for the better outcomes and result from it. Marketing through social media has become trend now a days because it attracts the customer on the large and huge basis. It is also concluded that roles, function and responsibilities of a marketing manager is important to arrange resources and identify the potential customer for the products. It is important to compare the marketing mix of two different companies to know and realize what shortcoming and weakness are their to get rigid out of it. Finally, it is concluded that, marketing and its elements are required to manage and control the function and activities in an organisation.
UPTO50%
Avail The Benefit Today!
To View this & another 50000+ free
Update your Number