INTRODUCTION
Marketing refers to an essential tool that assists company in promoting is goods and services at marketplace and communicate its benefits & value to customers. It involves various activities that supports in growth of firm and maintaining its position in market for long term. Marketing managers are require to determine prevailing trends of market and needs and preferences of customers in order to satisfy them in better manner and attaining its marketing objectives (Baker and et. al., 2016). The present assignment is based on Mc Donald's which is a fast food restaurant of US. It is well known for its hamburgers, French fries, soft drinks, wraps, desserts etc. This report discusses about different roles & responsibilities of marketing function and its link with marketing department. Apart from this, application of marketing mix in planning process and development of basic marketing plan is included in this project.
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TASK 1
P1 Roles and responsibilities of different functions of marketing
Marketing function is very crucial for every business organisation as it assist in attaining its objectives and getting high growth in market. It is the function that firms are use to promote its goods and services in market and communicate their value & benefits to customers. Marketing function consists of selling, financing, promoting, pricing, product, distribution and information system. Main duties and responsibilities of marketing functions in Mc Donald's are defined below:
Product: It is identified as tangible goods which is offered by business firm to their customers in order to meet their needs and satisfy them by providing them high quality products. This function helps firm in developing such products that best satisfies requirements of customers(Functions of marketing,2017). In case of Mc Donald's, various products are offered by company such as hamburgers, chicken products, desserts, wraps etc. variety of goods are provided by company in order to satisfy needs of their customers in more better and effective manner. Marketing manager of referred firm has responsibility to assess current trends of market, customer's attitude and behaviour as well as gathering all the information related to taste and preferences of clients. All these data and information helps company in developing products accordingly. This helps company in getting attention of large group of customers and yielding high profits in market.
Promotion: It is also an essential function performed by every business organisation for promoting its brand in market. It supports in increasing sales of their product and attaining high profitability ratios. Mc Donald's use various promotional tools for promoting their products in market. These includes advertisement, print media, digital and social media, sales promotion etc. All these tools helps company in promoting their brand effectively and maintaining good position in market. It also facilitates in creating high demand of product in market (Berkowitz, 2016).
Selling: It is the function in which various distribution channels are utilized by company in order to ensure availability of their product in market. For the purpose of enhancing sales of company, manager of Mc Donald's use data collected by marketing team and examine several tools so as to develop effective strategies. Application of these strategies helps firm in stimulating sales of its products and covering overall cost of product production.
Financing: In order to market product and communicate its value to customers, high amount of funds are required. For developing an effective plan, managers are require to ensure availability of adequate funds as it assists them in running their marketing activity smoothly and efficiently. Various sources are used by administrator of Mc Donald's to arrange funds and ensuring its proper availability so that marketing activities are carrying out effectively in proper way and on time.
Marketing information system: This marketing function involves collection of all data or information regarding market, customers, their needs, preferences and behaviour etc. It provides an opportunity to Mc Donald's to collect & store all the data in proper and sequential manner. It makes easy for managers to take effective decisions and designing appropriate strategies that assists in attaining targets and objectives of enterprise. It will also help in developing large consumer base as well as gaining high advantage in marketplace (Brassington and Pettitt, 2013).
Distribution: It is the function through which firm transfer their services and product from one place to another. In order to ensure availability of goods at all their outlets, firm use various distribution channels. It helps them in delivering their goods on specified time. It is essential for manager to select appropriate distribution channel so that products are deliver on right time.
Pricing: Sales of product is highly rely on its price so, this factor plays vital role in increasing profitability and growth of company. Manager of Mc Donald's set effective prices of their products which helps them in drawing attention of large group of customers. They analyse pricing strategies of competitors and according to that, set prices of their product. It assists in generating more sales and attracting large group of customers.
P2 Inter-relation of marketing function with other functional department of an organization
Marketing is considered as an exceptionally crucial idea in every single association. Through this office, they can present every one of their items in the market and will likewise help in pulling in extensive no. of clients (Brooks and Simkin, 2012). Here different sorts of exercises and plans are being set up by the showcasing group in order to ensure that every one of the exercises will be completed in a compelling way. This isn't at all simple for the organization to execute this procedure and heaps of endeavours are done by the advertising group to guarantee development and accomplishment of the organization in the market.
Marketing and Human resource management: HR department is likewise a standout amongst the most essential division who are having profound effect of showcasing group in the working of the organization. They do different kinds of exercises in which Marketing division are included like recruitment and hiring, training development and so forth. In this way, the chiefs are required to ensure that every one of the exercises are being led in an appropriate way in light of the fact that if the representatives will have great aptitudes then they will have the capacity to perform in a superior way in market and friends will have the capacity to accomplish its long haul destinations and focuses too.
Marketing and Finance: Both of these divisions are emphatically associated with each as they can't do their activities without every others contribution in a successful way. They are such huge numbers of exercises which are directed by the Marketing group however to lead these they require stores which is provided by back group of organization. Though in fund office a few exercises happens like portfolios administration, capital planning and to play out these exercises they require support of Marketing group as they will give better judgements about ventures (Caragher, 2016). Marketing group additionally help them in making yearly spending plans for the organization with the goal that they can circulate the sum in a restorative way.
Marketing and Research & Development division: This is the division which performs work of recognizing the requirements and requests of clients in the commercial centre. With the assistance of this, showcasing group becomes more acquainted with about the market position of the organization in the market and the impression of purchasers and merchants too. Along these lines, great procedures are being executed by the chiefs with the goal that the innovative work division can work viably. McDonald's is likewise having this division who is helping them in knowing the essence of clients in the market and the progressions also.
Marketing and Operational and Production division: Production & operation divisionis having direct association with Marketing office on the grounds that the exercises which are led here can't be finished without each other (Desai, 2013). On the off chance that Marketing division won't do statistical surveying and examination then they won't have the capacity to supply any sort of data to the organization and in this manner generation office won't have the capacity to deliver merchandise according to the necessities and requests of the clients and comparatively if creation office won't deliver products on time and according to requests at that point advertising group won't have the capacity to do any sort of action in the organization.
TASK 2
P3 Marketing Mix of two companies
|
Elements of marketing mix |
Mc Donald's |
Burger King |
|
Product |
It can be characterized as a question which is delivered by organization and sold to the client. These are for the most part arranged according to the necessities and needs of the clients in the promoting. McDonald's is additionally serving different sorts of products and ventures to its clients everywhere throughout the world. They are providing various types of items in various nations as individuals are having diverse options. Their items incorporates, burgers, sandwiches, French fries, deserts and so on. |
Burger king is providing different sorts of merchandise and ventures to its clients like sandwiches, burgers and so forth. The nature of their sustenance items is additionally great and are being cherished by the clients all finished too. Their item are being provided in a powerful way too. They are having separate veg and non-veg menu as they tend to the way of life and notions of their clients (Dibb and Simkin, 2013). |
|
Price |
It is taken a toll a which the merchandise and ventures are being sold to the clients in commercial center. These costs are being chosen by the administration of organization. McDonald's is having a decent estimating approach in light of the fact that their sustenance things are being provided in the market at an extremely reasonable rate. This is additionally one of the fundamental reason which helped the organization in getting achievement. In this way, clients dependably continue going to the McDonald's store, these methodologies were actualized. |
The costs of results of burger ruler is exceptionally powerful as individuals are going to their outlets all the more frequently. This has helped them in working up their image in showcase also (Gamble and et. al., 2011). |
|
Place |
This components assumes a vital part in making any business fruitful. IN McDonald's likewise, their outlets are being situated at that place just where there id heaps of populaces and odds of guests is high. These zones can be close shopping centers, roadways and so forth if there will be more group at that point there will be more guests (Hsu, 2011). |
There are such a large number of spots in which Burger ruler is having their store . Through this they are getting associated with their purchasers in a successful way. |
|
Promotion |
Through this, organization endeavors to do correspondence with its clients. McDonald's is likewise having different special plans through which they effectively draw in vast no. of clients. They are having "Upbeat Meal Menu" for kids and 'kabab' alternative for the grown-ups too. |
The limited time exercises of Burger king isn't in the same class as McDonald's. It is on the grounds that , McDonald's is doing different sorts of commercials in order to draw in their clients yet Burger King isn't at a similar level (Illing and Anders, 2016). |
|
People |
They are considered as the HR of the organization who working in the organization to do their tasks in a compelling way. In McDonald's additionally, their Human asset group is working viably and attempts to give great administrations to their customers also. |
In numerous stores of Burger king, relationship supervisors are designated by the organization in order to ensure that clients leave the organization cheerfully. The staff display there is additionally considers an asset for the organization who plays out their work pleasantly. |
|
Process |
In McDonald's, their nourishment fabricating process is straightforward as clients thinks about it extremely well. They are likewise enabling their clients to visit the kitchen in order to investigate without anyone else. |
Their sustenance generation unit is straightforward like McDonald's. Their techniques for making products is altogether different and in this manner their special taste help them in pulling in extensive no. of clients. |
|
Physical Evidence |
McDonald's is having a spotless and safe eating condition and in this manner individuals jump at the chance to visit them and eat at their outlets for a more extended time. Their insides are likewise exceptionally alluring and beautiful which propel a man to stay there and have their feast. |
Their stores are exceptionally tasteful and are having a decent inside too which forces individuals ton visit the store once. They can be found in the commercial center effortlessly (Jones and Rowley, 2011). |
TASK 3
P4 Produce basic marketing plan
Marketing Plan: It is a comprehensive blueprint that mainly outlines company's marketing and advertising efforts for the upcoming year (Kennedy and Parsons, 2014). It defines business activities that are needed to attain particular objectives of marketing within its specified time-frame. It usually involve:
- Company Overview: McDonald's is an leading American fast food organization that is founded in the year 1940 by Richard and Maurice McDonald. Initially they name their business as “Hamburger Stand” which later named as “McDonald's”. In terms of revenue, it is the world largest restaurant chain serving more than 69 millions of customers on daily basis. They are operating their business practices in more than 100 countries with approx. 37,500 outlets. Although the company gained popularity for its hamburgers but they also deal in providing other products like chicken products, french fries, wraps, desserts, milkshakes,soft drink etc.
- Vision: “To become best and quick service restaurant who provide high quality goods at reasonable price”.
- Mission: “To provide unforgettable experience to customers in terms of offering goods that fulfils their requirements and delight each customer”.
- STP Approach:
|
Segmentation |
McDonald's is currently using strategy of demographic segmentation as it usually consider age as the basic parameter. |
|
Targeting |
Children, Youth and members of young urban family. |
|
Positioning |
Favourite place of customers |
SWOT Analysis:
|
Strength: |
|
|
Weakness: |
|
|
Opportunities: |
|
|
Threats: |
|
Marketing Mix:
|
Product |
McDonald's is a globally renowned fast food chain. It primarily deals in selling hamburgers, soft drinks, chicken items, desserts, milkshake and cheeseburger. Although they are famous for its hamburgers but apart from this, it keep on experimenting with its product line and add others products in their menu card such as Mc Spicy Burger, Beef Burgers, Crispy Chicken Deluxe, Artisan grilled chicken and many more chicken and fish products. |
|
Price |
The company currently using price bundling strategy. For example: Offering meal to its target in which they sell as per client requirement. Apart from this they also focuses on psychological pricing strategy that seems to be affordable from the perspective of customers (Malhotra, Birks and Wills, 2013). |
|
Promotion |
McDonald is spending huge amount on promoting its products mainly through advertisement, print media and social media. In addition to that they sponsor various sports events as well such as Olympic Games, FIFA World Cup etc. |
|
Place: |
The company is selling their products in more than 110 countries with over 36,000 restaurant all across the globe. Various types of McDonald's restaurant format cafe include Mc Café, Mc Express, McDonald Next and Mc Drive. |
- Key Competitors: Some of the main competitors of McDonald's are Burger King, Wendy’s International, Yum! Brands etc.
Marketing Budget:
|
Marketing budget |
|||||
|
Particulars |
1st year |
2nd year |
3rd year |
4th year |
5th year |
|
Initial money |
50000 |
13000 |
14000 |
22000 |
19000 |
|
Investment |
20000 |
11500 |
16000 |
14200 |
|
|
Total |
50000 |
33000 |
25500 |
38000 |
33200 |
|
Marketing expenditures |
|||||
|
Advertisement |
8600 |
7700 |
7200 |
7000 |
6800 |
|
Sales promotion |
3000 |
4000 |
3500 |
3000 |
7500 |
|
Direct marketing |
8000 |
7000 |
3000 |
6000 |
3000 |
|
Total |
19600 |
18700 |
13700 |
16000 |
17300 |
|
Available balance |
30400 |
14300 |
11800 |
22000 |
15900 |
Controlling and Monitoring: After formulating all relevant strategies and policies, the role of marketer is to figure out that all activities are carried out as per the plan or not. If not then, possible action needs to be frame that help in achieving specified business and marketing objectives within its specified time frame (Mihart, 2012).
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CONCLUSION
According to the above mentioned report it can be concluded that different function of marketing plays key role in achieving organizational roles and objectives in an effective manner. The success and survival of any company depend upon how they market their products which leads to increase its sales and profitability ratio. Likes and dislikes of customer can be determined with the help of marketing function that further assist company in producing goods accordingly. With the help of marketing, firm can carry out activities of other key functional department in a structured and thorough manner. In addition to that, marketing mix aid company in achieving high competitive edge in the marketplace over their rivals.
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REFERENCES
- Baker, M. A and et. al., 2016. The evolution of services marketing, hospitality marketing and building the constituency model for hospitality marketing. International Journal of Contemporary Hospitality Management. 28(8). pp.1510-1534.
- Berkowitz, E. N., 2016. Essentials of health care marketing. Jones & Bartlett Publishers.
- Brassington, F. and Pettitt, S., 2013. Essential of marketing.
- Brooks, N. and Simkin, L., 2012. Judging marketing mix effectiveness. Marketing Intelligence & Planning. 30(5). pp.494-514.
- Caragher, J. M., 2016. 7 Essentials for a CPA Firm Marketing Program. The CPA Journal. 86(12). p.11.
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