Introduction----
McDonald's is one of the world's best known brands. Branding is just part of the marketing process, but an important part. A strong brand presents a consistent message, such as through the use of logos, colours, slogans and other mages. A key part of the McDonald's brand is its 'M' logo otherwise known as 'The Golden Arches'. Marketing involves identifying what customers want, and then providing it. Good marketing creates a loyal customer base.
Market research----
Market research is used to find out what targeted customers want. It needs to identify the size of its market and whether it is growing or declining. It helps McDonald's to provide products that can compete effectively. Market research looks at external factors like economic, legal, technological and social changes and assesses how these might affect the market. It also looks at psychological factors for buying, such as image, enjoyment and other additional benefits that McDonald's food can give a customer. Branding helps to establish this image and underline these benefits. Market research also identifies the different types of customer and their needs. McDonald's can then use this information to make decisions, such as location or menu changes.
SWOT analysis----
McDonald's can carry out a SWOT analysis to ascertain the internal strengths and weaknesses of the organisation and its external opportunities and threats. It can then create a marketing strategy that takes advantage of the positive elements and minimises the negative ones.
Marketing objectives
The marketing strategy will be planned to meet clear objectives, with intermediate targets showing progress along the way. The marketing strategy is the tool that lays out how marketing objectives will be achieved.
The four Ps-----
The marketing mix is the combination of price, product, promotion and place that successfully markets a product. The product must be what the customer wants (found out from market research) and has to be changed as tastes change. Most products go through a life cycle which sees them eventually decline. Price must match the customers' idea of what the product is worth. They will only buy if they consider they are getting value for money. Promotion includes directly paid for 'above-the-line' advertising, for example on TV and in the press, and other 'below-the-line' promotions such as competitions, exhibitions and public relations. A skilful promotional campaign combines several elements to produce an effective package. Place refers to the actual place that the product is sold and to the way in which it reaches that place -distribution and the chain of supply
.
Conclusion---
McDonald's uses market research information to build a marketing strategy. All parts of its organisation then have to work together to ensure that the strategy reaches its objectives.
McDonald's Restaurants
Vikash Kumar singh
PGDM -3rd
McDonald's is one of the world's best known brands. Branding is just part of the marketing process, but an important part. A strong brand presents a consistent message, such as through the use of logos, colours, slogans and other mages. A key part of the McDonald's brand is its 'M' logo otherwise known as 'The Golden Arches'. Marketing involves identifying what customers want, and then providing it. Good marketing creates a loyal customer base.
Market research----
Market research is used to find out what targeted customers want. It needs to identify the size of its market and whether it is growing or declining. It helps McDonald's to provide products that can compete effectively. Market research looks at external factors like economic, legal, technological and social changes and assesses how these might affect the market. It also looks at psychological factors for buying, such as image, enjoyment and other additional benefits that McDonald's food can give a customer. Branding helps to establish this image and underline these benefits. Market research also identifies the different types of customer and their needs. McDonald's can then use this information to make decisions, such as location or menu changes.
SWOT analysis----
McDonald's can carry out a SWOT analysis to ascertain the internal strengths and weaknesses of the organisation and its external opportunities and threats. It can then create a marketing strategy that takes advantage of the positive elements and minimises the negative ones.
Marketing objectives
The marketing strategy will be planned to meet clear objectives, with intermediate targets showing progress along the way. The marketing strategy is the tool that lays out how marketing objectives will be achieved.
The four Ps-----
The marketing mix is the combination of price, product, promotion and place that successfully markets a product. The product must be what the customer wants (found out from market research) and has to be changed as tastes change. Most products go through a life cycle which sees them eventually decline. Price must match the customers' idea of what the product is worth. They will only buy if they consider they are getting value for money. Promotion includes directly paid for 'above-the-line' advertising, for example on TV and in the press, and other 'below-the-line' promotions such as competitions, exhibitions and public relations. A skilful promotional campaign combines several elements to produce an effective package. Place refers to the actual place that the product is sold and to the way in which it reaches that place -distribution and the chain of supply
.
Conclusion---
McDonald's uses market research information to build a marketing strategy. All parts of its organisation then have to work together to ensure that the strategy reaches its objectives.
McDonald's Restaurants
Vikash Kumar singh
PGDM -3rd
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