Mephisto Products Limited/ Asia for McDonalds



Maphisto Products Limited/ Asia for McDonalds

Part A: Mephisto Products Limited

Introduction

According to American Marketing Association: Marketing is considered as activity, set of institutions and is as a process for communicating, creating, exchanging and delivering offerings which provide value for clients, partners, society and customers at large.

According to Chartered Institute of Marketing: “Marketing is considered as a process which is responsible for recognizing, anticipating and fulfilling customer's requirement in a profitable way” (Simpson, Padmore, Taylor, 2006). Marketing process is composed of the following components:

Situation Analysis: It includes the deep analysis of the situation in which the firm identifies the needs which have not been fulfilled and opportunities required to fulfil these needs are identified. Apart from identifying customer needs firm should also understands its capabilities in which it operates.

Marketing Strategy: When the opportunity which has not been fulfilled is identified, there is a need to develop a strategic plan for pursuing the opportunity. In this regard, marketing research provides market information which helps the firm to select target market segment and offer the services in that segment particularly.

Marketing Mix Decisions: After the opportunity is identified for the fulfilment of customers need, the tactical decisions are made for controlling the different constraints of marketing mix. The items which should be acted upon include:

Product development

Product pricing decisions

Distribution of contracts

Developing campaign for promotion

Implementation & Control: After the development of marketing plan and the launch of product. Some environments are static and in this case the results of marketing should be carefully monitored. The marketing mix should be changed according to the changes observed in the market.

Mephisto Products' approach to sales and marketing

It has been observed by the case that Mephisto Products' have been observing a decline in the sale in the profits. In this regard there is a need for Mephisto Products to carefully evaluate it marketing strategy and determine the effective strategy which will be helpful in overcoming this problem (Khanna, Palepu, Sinha, 2005).

Macro and micro environmental factors influencing marketing decisions for Mephisto

There are macro and micro environmental factors which will affect the decision of Mephisto Products' Macro environmental factors are considered as those factors which will be associated with marketing image of Mephisto. They will help in examining the social impact of marketing at Mephisto and identifies the flow of products and services and benefits provided. Macro marketing factors effecting Mephisto will also be the one which determine the development a product and the amount of a product that will be developed based on the needs of consumption and demand in the market.

Other factor which impact Mephisto include the customers who use the product who represent specific or demographic market segment and when the product will be developed according to production time, seasonality and the customer's demand. There are eight functions of macro marketing which Mephisto should focus and include transport, purchase, storage, sale, classification and standardization, risk-taking, market information and funding (Stauffer, 2003). For Mephisto, macro marketing factors are associated ...