MCDONALDS

Marketing McDonald's Product



Marketing McDonald's Product

Task 1

Introduction

McDonald's is one of the best known brands worldwide. This case study shows how McDonald's aims to continually build its brand by listening to its customers. It also identifies the various stages in the marketing process. (Mazur? 2004? 18) Branding develops a personality for an organisation? product or service. The brand image represents how consumers view the organisation. Branding only works when an organisation behaves and presents itself in a consistent way.

Alternative Definitions Of Marketing

“The all-embracing function that links the business with customer needs and wants in order to get the right product to the right place at the right time”

“The achievement of corporate goals through meeting and exceeding customer needs better than the competition”

“The management process that identifies? anticipates and supplies customer requirements efficiently and profitably”

“Marketing may be defined as a set of human activities directed at facilitating and consummating exchanges”

Which definition is right? In short? they all are. They all try to embody the essence of marketing:

• Marketing is about meeting the needs and wants of customers;

• Marketing is a business-wide function - it is not something that operates alone from other business activities;

• Marketing is about understanding customers and finding ways to provide products or services which customers demand

To help put things into context? you may find it helpful to often refer to the following diagram which summarises the key elements of marketing and their relationships:

On the other hand Cash or spot market transactions refer to transactions that occur at a current point in time (or “on the spot”) as opposed to agreements for future delivery or pricing. These include auction barn sales; video or electronic auction sales; sales through order buyers? dealers? and brokers; and direct trades. The terms “cash market” and "spot market" are often used interchangeably. AMAs refer to all possible alternatives to the cash or spot market. These AMAs primarily include forward contracts? marketing agreements? and packer ownership. Custom feeding and custom slaughter are also used by lamb operations and may or may not be used in conjunction with an AMA. Under custom feeding? lambs are either transferred under packer ownership or sold by a producer under one of the other types of marketing arrangements. Under custom slaughter? lambs are not sold until they are transformed into lamb products. AMAs are also defined by lamb ownership? pricing method? and valuation method. Pricing method is further divided into formula pricing and internal transfer pricing methods if lambs are transferred between operations owned by a single company.

B. Main Characteristics Of A Marketing Oriented Organization

Marketing Orientated companies focus on customers needs. Changing needs present potential market opportunties? which drive the company. Marketing Orientated companies get close to their customers so they can understand their needs and problems. The major feature of the marketing oriented organization is that they are aimed to stay closer to the customers and ahead of their competitors. The reason is that the basic aim of these organizations is to attract the ...