Sample Assignment on Marketing Principles - Assignment Prime Australia

1. MARKETING PRINCIPLES TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 424715655 WEBSITE: https://www.assignmentprime.com ASSIGNMENT HELP & WRITING SERVICES AUSTRALIA

2. Table of Contents INTRODUCTION...........................................................................................................................1 TASK 1............................................................................................................................................1 1.1 Elements of marketing process.........................................................................................1 1.2 Benefits and costs of marketing orientation.....................................................................2 TASK 2............................................................................................................................................2 2.1 Micro and Macro environmental factors influencing marketing decisions in McDonald's ................................................................................................................................................2 2.2 Segmentation criteria used by McDonald's......................................................................3 2.3 target strategy used by McDonald's..................................................................................4 2.4 How buying behavior affects marketing activities McDonald's.......................................4 2.5 New positioning for a selected service or product of McDonald's...................................5 TASK 3............................................................................................................................................6 3.1 How McDonald's products are developed in order to make sure that competitive advantage is sustained............................................................................................................6 3.2 Explain distribution strategies used by McDonald’s........................................................6 3.3 Explain pricing strategies used by McDonald..................................................................6 3.4 Promotional activities of McDonald's..............................................................................7 3.5 Elements of the extended marketing mix.........................................................................7 TASK 4............................................................................................................................................8 4.1 Marketing mixes for two different segments in the consumer markets...........................8 4.2 Differences in marketing products and services to business and consumers...................8 CONCLUSION................................................................................................................................9 REFERENCES...............................................................................................................................11 TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 424715655 WEBSITE: https://www.assignmentprime.com ASSIGNMENT HELP & WRITING SERVICES AUSTRALIA

3. INTRODUCTION Marketing principles refers to the principles that are used to frame product, price, promotion and distribution strategy of the firm,The present report gives a full view of marketing techniques, processes and principles of McDonald. The main objective behind preparing this report is to cover various aspects of marketing. In respect to this, an attempt is made to create a broad understanding about the various concepts of marketing like segmentation, targeting and positioning. Apart from this in the report strategies like product, price, promotion and distribution tactics are explained in detail. At the end of this report, difference between international and domestic marketing is discussed in detail. Along with this, difference between marketing efforts that are made in relation to general public and business customer's is also discussed briefly. THIS IS A SAMPLE ASSIGNMENT BUY QUALITY ASSIGNMENT TO SCORE A+ GRADE CONTACT US: TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 424715655 WEBSITE: https://www.assignmentprime.com TASK 1 1.1 Elements of marketing process Elements of marketing process are as:   Marketing audit- Under marketing audit marketing manager evaluate company marketing efforts and strategies that it implement at the ground level. Along with marketing environment is also evaluated by the managers in order to create future marketing strategy for the company product. Thus, it can be said that marketing audit in a part of cautious approach under which firm time to time evaluate its marketing efforts in order to make sure that it will perform well in the market. TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 424715655 WEBSITE: https://www.assignmentprime.com ASSIGNMENT HELP & WRITING SERVICES AUSTRALIA

4.   Integrated marketing- It is another important component of marketing process. Under this part of marketing process same message is communicated through different channels of communication. This helps firm in channelizing its marketing efforts in single direction. In research it has been seen that if different channel of communication communicate separate message then it would not put positive impression on the target customer's. Hence, due to this reason MC Donald is giving due importance to this concept of marketing in its business practice.   SWOT analysis- MC Donald time to time conduct SWOT analysis in order to identify its strength and weakness related to its marketing efforts. Application of this technique also helps in identifying threat and opportunities related to marketing of its product. Hence, output of this analysis helps firm in crafting sound marketing strategy for its product. 1.2 Benefits and costs of marketing orientation Marketing orientated concept means a business concern enact to what consumer need. The decisions interpreted are based on the data about customer’s needs and wants, rather than what the enterprise consider is right for the consumer.  Costs: In order to identify customer needs and to innovate its service deleivery methods MC Donald conduct research on continue basis. For this heavy amount is ivested every year. Hence this affects company profitability. But main beneift of this effort is that firm get an information about the needs of the people. By following needs it launch new products in order to satisfy customer needs. Due to this reason firm successfully creat a loyal customer base in past few years(Doole and Lowe, 2008). Hence, it can be said that marketing orientation has benefits and costs for the firm.  Relationship marketing- MC Donald time to time conduct many programs in its restaurant in order to make customer's experience better in its workplace. Hence, by doing this MC Donald is establishing good relationship with its customer's. TASK 2 2.1 M icro and Macro environmental factors influencing marketing decisions in McDonald's The micro factors are TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 424715655 WEBSITE: https://www.assignmentprime.com ASSIGNMENT HELP & WRITING SERVICES AUSTRALIA

5. Suppliers: MC Donald is purchasing raw material from many suppliers. It makes sure that suppliers from whom it it purchasing raw material are supplying quality raw material to its workplace. Firm advertise this thing in its advertisement in order to make sure people that it is using quality of raw material in producing food items. Hence, by doing this firm successfully create its good image among the customer's. Customers: MC Donald main aim is to provide quality food at affordable price. Hence, since its inception it is strictly complying with its objective. Firm also show this thing in its advertisement. With increase in unemployment rate firm try to control its price. Its main objective is to increase sale of its product on the basis of price. By taking advantage ofeconomic condition it is promoting its product on the basis of price at the place of quality. Hence, customer expectations regarding price from MC Donald due to increase in unemployment rate affect its marketing decisions. THIS IS A SAMPLE ASSIGNMENT BUY QUALITY ASSIGNMENT TO SCORE A+ GRADE CONTACT US: TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 424715655 WEBSITE: https://www.assignmentprime.com Employees: McDonald's employees are intrinsic stakeholders and their aim is to acquire fair treatment from the mentioned company in terms of wage, rewards, promotions etc. In this regard, fast food restaurant meets these objectives by improving their skills and competencies through grooming and improvement programs in order to make them give improved public presentation and to be capable of acquiring rewards. Macro factors are: Political environment: The international operations of McDonald’s are highly influenced by the policies enforced by each government. Travel and tourism is playing a great role in the company profitability. UK government is fully committed towards growth of travel TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 424715655 WEBSITE: https://www.assignmentprime.com ASSIGNMENT HELP & WRITING SERVICES AUSTRALIA

6. and tourism sector. With increase in growth rate of this sector profit of MC Donald will also increase. Hence, it can be said that political environment is positively affecting MC Donald. Economical environment: Organizations in the fast food industry are not excused from any disputes and troubles. Specifically, they do have their individual concerns involving economic factors. Branches and franchises of fast food chains like McDonald’s has the tendency to experience hardship in instances where the economy of the respective states is hit by inflation and changes in the exchange rates. Social environment: McDonald’s is strongly affected by the social environment because people taste and preferences are different from country to country. Hence, firm is innovating its existing product line as per people taste and preference. So, it can be said that social environment is positively affecting MC Donald. Technological environment: McDonald’s have significantly been infused with new technology. Elements like the inventory system and the management of the value chain of the company allows for easy payments for their suppliers and other vendors which the individual stores in respective markets deal with. The integration of technology in the operations of McDonald tends to add value to their products. Due to continue technology up gradation MC Donald is far ahead of its competitors. 2.2 Segmentation criteria used by McDonald's The segmentation criteria used by McDonald's demographic segmentation and behavioral segmentation. These segmentation criteria are explained below. Demographic segmentation- It refers to the mode of segmentation in which population is divided on the basis of income, age and religion etc (Marshall, 2013). In the world people with different income level and religion are residing and it is necessary to satisfy needs of each and every type of costumer. Hence, firm is following this mode of segmentation in order to serve needs of each and every type of customer. Behavioral segmentation- It is a type of segmentation in which people are divided in several categories on the basis of their taste and preference. Under this sort of segmentation technique firm prepare different type of products as per taste of people. MC Donald is following this TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 424715655 WEBSITE: https://www.assignmentprime.com ASSIGNMENT HELP & WRITING SERVICES AUSTRALIA

7. segmentation technique since its inception and due to this reason it is able to develop loyal customer base in a past few years. 2.3 target strategy used by McDonald's Differentiated In this startegy fiurm insdtead McDonald targets families by sending a of targeting a specifc customer promotional message about the new burger gropup target multiple catgeory innovated and its good parts. of people in terms of taste or income level. By doing this firm increase sale and wide acceptability of its product. ConcentratedIn this sort of targeting McDonald targets the adults by placing ads in method firm focus on specific type of magazines and by providing them discount cards. people for selling its product. By doing this a company try to create its different image among the general public. UndifferentiatedIn this targeting method In this strategy, McDonald promotes its hamburgers firm do not focus on specific type of by targeting adults by publishing the ads on in the people and it prepare a single product that newsletters. suits to requirements of all type of customers.   2.4 How buying behavior affects marketing activities McDonald's The buying behavior of customers affects marketing activities McDonald's  Cultural: this factor includes a consumer’s culture, subculture and social class. People preference and taste are largely affected by the culture and value system. MC Donald understand this thing and whenever it enters in to new market it do thorough analysis of people taste and culture. After that as per people people taste it launch its product in tot TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 424715655 WEBSITE: https://www.assignmentprime.com ASSIGNMENT HELP & WRITING SERVICES AUSTRALIA

8. new market. Hence, it can be siad that cultural factor affects markting activities of the firm.  Social: this behavioural factor includes groups (reference groups, inspirational groups and member groups), family, roles and status affects people buying behaviour. By doing analysis of these factors firm prepare its advertisements that are advertised on television and internet Thus, it can be said that social factor affects marketing efforts of an organization.  Personal: These are those behaviour that are personal that include such variables as age and life cycle stage, occupation, economic circumstances, lifestyle, personality and self concept. All these factor affects people demand for the specific factor. MC Donald identify the personal factors that are stimulating demand for the company product. Pn the basis of that factor MC Donald done a marketing of its product. Hence, it can be said that personal factors affects marketing activities of the firms  Psychological: these are psychological behaviour that affects McDonald purchase decision include motivation perception, learning, beliefs and attitudes. Firm do a deep research on these factor and accordingly it customize its existing product. Due to this reason, firm product is gaining wide acceptability across the world. 2.5 New positioning for a selected service or product of McDonald's Product positioning is the process in which firm on the basis of speciality of the product try to create its specific image among the general public. Positioning of hamburger is done on the basis of demographic and behavioural. Positioning is done demographically where market segmentation according to age, race, religion, gender, family size, ethnicity, income, and education. Demographics can be segmented into several markets to help an organization target its consumers. According to demographic segmentation, McDonald keep their prices low to high for their burgers as different income groups can enjoy eating in the restaurant and can buy food according to their budget. Hence, it can be said that firm is positioning its product on the basis of price. TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 424715655 WEBSITE: https://www.assignmentprime.com ASSIGNMENT HELP & WRITING SERVICES AUSTRALIA

9. TASK 3 3.1 H ow McDonald's products are developed in order to make sure that competitive advantage is sustained Competitive advantage refers to the factors related to the product which are acting as core strength for same. . MC Donald since its inception makes an attempt to develop core competency of its product, Quality, price and way of preparation are three pillars that form a core competency of the MC Donald product, these can also be termed as unique selling proposition.It has been successful because of its cheap food. It has offered nutritional value while raising awareness about health. In summation to this, it has expanded into different markets through the use of innovative and creative strategies. Burger King has also been a major player in the fast food industry. Its success is its ability to target niche markets in a proficient manner. McDonald’s brand value and healthy food have provided high number of customer base. The trust of the customers has made it on the best fast food chain in the world. THIS IS A SAMPLE ASSIGNMENT BUY QUALITY ASSIGNMENT TO SCORE A+ GRADE CONTACT US: TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 424715655 WEBSITE: https://www.assignmentprime.com 3.2 Explain distribution strategies used by McDonald’s For product-oriented companies like McDonald, should establish the most befitting distribution strategies (Hassan and Craft, 2012). MC Donald is following a franchisee model in to ordfer to sell its product. Under this it open its own shop which is operated by the person who is not employee of the MC Donald. Under this model the person who take franchisee of the firm would exclusively sale product of MC Donald. Means that through franchisee of MC Donald TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 424715655 WEBSITE: https://www.assignmentprime.com ASSIGNMENT HELP & WRITING SERVICES AUSTRALIA

10. products of companies like KFC can not be sold. This strategy is appropriate for the firm because by opening own store firm is creating its special image among the general public. Moreover, it is able to widely doing advertising of its own product this model helps firm in creating its specific brand identity, hence, it can be said that this distribution model helps firm in populaisizing itsa product among general public. T 3.3 Explain pricing strategies used by McDonald McDonald uses Penetration pricing where the strategy is designed in such a way that the company enters in the market to take market share. In the starting it keeps the price of the product low to attract buyers (Dibb and Simkin, 2013). The idea is that the business will be able to raise awareness and get people to try the new products. Even though penetration pricing may initially create a loss for the McDonald, the hope is that it will promote word of moth marketing among the people. For example: Prices for its extra-value meals like McVeggie and McChicken were decreased. Typically a meal consists of burger, French fries and soft drinks. This strategy was extremely great, as it came at a time when food prices were elevatingday by day. Hence, firm maintain sale of its product even unemployment trate in UK were high. 3.4 Promotional activities of McDonald's Promotional activities used by McDonald's through   PR activities: It refers to the activities through which a firm come in contact with its end customers. By implementing these activities firm provides a clear information about its product to its target customers. In order to maintain relationship with public con continue basis firm time to time launch new products and communicate about same through social media. People comment on the company products image and through this MC Donald comes to know about the features that people wants to see in the mentioned firm products (Morgan, Katsikeas and Vorhies, 2012). Hence, it can be said that use of social media promote conversation of MC Donald with the general public. Hence, it can be said that such kind of promotional activities positively affects MC Donald sales. .   Sales promotion- MC Donald time to time conduct sales promotion activities on its restaurants. Under this conduct various kinds of programs in its restaurants. Sometimes it offers toys to the small children who visit its restaurant for dinner. By doing this it creates TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 424715655 WEBSITE: https://www.assignmentprime.com ASSIGNMENT HELP & WRITING SERVICES AUSTRALIA

11. its distinct image in the heart of small children. By doing this it promote its product and also increase footfalls from its target customer's on its restaurants. Hence, it can be said that sales promotion is increasing sale of the MC Donald product. 3.5 Elements of the extended marketing mix The Elements of the extended marketing mix are:  People – MC Donald understand importance of each and very custoemr and due to this reason since its inception it is focusing on satisfying their needs (Yu and Cai, 2007). Due to this reason it successfully create huge customer base across the globe. Thus, it can be said that satisfaction of people needs on time is the basic reason behind company success.  Processes –It refers to the way and time with in which product is served to the people, visiting MC Donald restaurant. Company time to time innovate its service delivery process in order to serve customers in short duration. This is the cornerstone of the firm success in the competitive market.  Physical Evidence – It refers to the physical things that are around customers when they visit company restaurant. MC Donald is making available attractive tables, furniture, utensils and decoration in its restaurant. This makes entire restaurant very attractive and eye catching for the people. This play a great role in attracting footfall to its restaurant. Thus, physical things are playing great role in attracting people on its restaurant, TASK 4 4.1 Marketing mixes for two different segments in the consumer markets Marketing mix of two different segments is as follows:  Product - The hamburgers should be for both the type of consumer. They are different income group and taste of the consumer. It should work and it should be what the consumers are expecting to get.   Place –MC Donald is using a franchisee model in order to sale its product. In future also firm must open its new restaurants so that people by covering short distance easily get MC Donald products. TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 424715655 WEBSITE: https://www.assignmentprime.com ASSIGNMENT HELP & WRITING SERVICES AUSTRALIA

12.  Price – The Product should always be seen as representing good value for money.MC Donald understand this thing and it is made available quality products at reasonable price (Wright, 2006). Due to this reason its products is consumed by the customer across the world.  Promotion – Advertising, PR, Sales Promotion, Personal Selling and, in more recent times, Social Media are all key communication tools for an organization. Hence, firm must use all these techniques for promoting its product in order to advertise its brand name in efficient and effective manner. THIS IS A SAMPLE ASSIGNMENT BUY QUALITY ASSIGNMENT TO SCORE A+ GRADE CONTACT US: TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 424715655 WEBSITE: https://www.assignmentprime.com 4.2 Differences in marketing products and services to business and consumers. Differences in marketing products and services to business and consumers   Business- These are those customer that are institutions and doing business. Normally, business firms before purchasing any product do a thorough analysis of same, after collecting detial information about the products they form a parameters. On the basis of these parameters they make purchase decisions. It is a very difficult to persuade business firms because they strongly stuck to their parameters for purchasing a product (Mason and Harris, 2006). If product does not beat parameters then business firms does not make purchase of such kind of products. Due to this buying behavior of the business firms it is very difficult to persuade them. TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 424715655 WEBSITE: https://www.assignmentprime.com ASSIGNMENT HELP & WRITING SERVICES AUSTRALIA

13.   Consumers- These are those who make purchase products form the shops. Like business consumers they also collects lots of information about the company product. But they does not strictly stick to the determined parameters (Lin and Zhou, 2012). Due to this reason it is very easy to persuade consumers in relation to sale of product.  Hence, it can be said that marketing efforts made for business firms and consumers are totally different from each other. 4.3 Difference between International marketing and domestic marketing Domestic marketing is totally different from international marketing. This is because cultural and social factor very from country to country. Due to difference in social and cultural factors people preference and taste are also different from each other. Whatever, product is preferred in one country does not necessarily be preferred in other nations. Marketing and product are closely related to each other in case of MC Donald. This is because in marketing of product information about price an quality is communicated to the people through specific channel of communication. With change in product marketing of the product also get changed. Hence, MC Donald do marketing of its products in different manner across the globe. TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 424715655 WEBSITE: https://www.assignmentprime.com ASSIGNMENT HELP & WRITING SERVICES AUSTRALIA

14. CONCLUSION It can be concluded that the marketing principle help the company in evaluating marketing process and it different elements. McDonald usesIntensive distributionstrategy. When McDonald is having a mass marketing product like hamburger that is loved by both adult and kids, then it uses intensive distribution. It uses penetrating price strategy, the idea is that the business will be able to raise awareness and get people to try the new products. Even though penetration pricing may initially create a loss for the McDonald, the hope is that it will help to create awareness. Promotional activities like PR activities McDonald also can integrate other marketing strategies. Moreover, marketing principles help McDonald in maintaining its brand name. THIS IS A SAMPLE ASSIGNMENT BUY QUALITY ASSIGNMENT TO SCORE A+ GRADE CONTACT US: TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 424715655 WEBSITE: https://www.assignmentprime.com TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 424715655 WEBSITE: https://www.assignmentprime.com ASSIGNMENT HELP & WRITING SERVICES AUSTRALIA

15. REFERENCES Journals and Books Baker, M.J., 2014. Marketing strategy and management. Palgrave Macmillan. Dibb,S. and Simkin, L.,2013. Market Segmentation Success: Making It Happen! . Routledge. Doole, I. and Lowe.R.,2008. International Marketing Strategy: Analysis, Development and Implementation. Cengage Learning EMEA. Hassan, S.S. and Craft, S.,2012.Examining world market segmentation and brand positioning strategies. Marketing Intelligence and Planning. 29(5). pp.344 – 356. Lin, Y., Ma,S. and Zhou, L.2012. Manufacturing strategies for time based competitive advantages. Industrial Management and Data Systems.112 (5).pp.729 – 747. Lusch, R.F. and Vargo, S.L., 2014. The service-dominant logic of marketing: Dialog, debate, and directions. Routledge. Marshall, R., 2013. Guest Editorial: Cognitive mapping of strategy in marketing. Journal of Business Research, 66(9), pp.1541-1543. Mason,J.K. and Harris, C.L.,2006. Market orientation emphases: an exploration of macro, meso and micro drivers. Marketing Intelligence and Planning. 24(6)pp.552 – 571. Morgan, N.A., Katsikeas, C.S. and Vorhies, D.W., 2012. Export marketing strategy implementation, export marketing capabilities, and export venture performance. Journal of the Academy of Marketing Science, 40(2), pp.271-289. Wright, R.,2006. Consumer Behaviour. Cengage Learning EMEA. Yu, Y. and Cai, S., 2007.A new approach to customer targeting under conditions of information shortage. Marketing Intelligence and Planning. 25(4). pp.343 – 359. Online Kokemuller, N., 2004. Advantages & Disadvantages of Having a Marketing Orientation in an Organization. [Online]. Available through :< http://yourbusiness.azcentral.com/advantages- disadvantages-having-marketing- orientation-organization-1510.html>. [Accessed on 25th December 2015]. TOLL-FREE NO: +61 879057034 EMAIL: help@assignmentprime.com WHATSAPP NO: +61 424715655 WEBSITE: https://www.assignmentprime.com ASSIGNMENT HELP & WRITING SERVICES AUSTRALIA