BSBMKG502 Establish and Adjust the Marketing Mix

Assessment Week 5

Research the marketing of the company’s products or services of your choice

McDonald is the most extensive fast food restaurant in the United States. Among the products that they have, the top menu list comprises of French fries cheeseburgers, and Hamburgers .they are well known too for their desserts: apple pie .the ethical and social responsibility policies put forth by the company has placed them at a competitive edge. The policies comprise of nurturing talents and rewarding employee’s achievements as a way of having them committed to the success of the company. The company has placed its customer's satisfaction at the core their daily activities. The company is focused on maintaining the high degree of standards of the regular business conductivity (B, 2017). All these policies have enabled the company to enjoy a competitive advantage over its competitors. The company has employed various strategies that make it be differentiated from its competitors. The company delivers an involvement to its customers through its trademark “quality service, cleanliness and values” (Marketrealist.com, 2017).The company uses plan to win strategies. The plan focuses on quality of service offered to the customer through 5ps.product, place, people, price, the promotion. The company applies the three leg stool plan, whereby this comprises of, supplier, customer, and employees(Marketrealist.com, 2017).The knowledge of this tool is that all the three variables are dependent on each other since without one leg a stool cannot stand.

The company is a risk taker business has several measures for risk management. They have an assessment tool that determines the risk their business is exposed to in every country they operate. The company ensures the safety of the employees and customers during work time, through monitoring of the security cameras installed in the company.

Identify the key characteristics of the products and/or services and their significance to the market.

McDonald products have been able to display three characteristics that have enabled it to survive in the market. The first constituency in producing high-quality products and services. It does not matter the McDonald restaurant that you visit in Australia or America, the experience of customer service is the same and product have same excellent quality. Customers know their expectations on different products when making a purchasing decision. The efforts placed on efficiency and continuous high-quality production of the product has enabled the company stays in top culture. Secondly, Innovation. Continuous improvement on the product has been a critical customer attraction to the company. The company products have gone through an evolution over the years in conjunction with the preference of their customers. Lastly, transparency of the product production and services has enabled the company to be trustworthy by its customers. Through learning that the customers have the upper hand in the current market. The company has launched a campaign to ensure transparency, “our food your questions” (Bailey, 2017).

Review pricing policy and analyse pricing variables to determine their effect on the market.

The most important part of the marketing mix is price strategy. The price comprises of product prices and discounts on products and mode of payment available. Pricing of a company product decides its revenue it will accrue in the end. The McDonald price strategy was to set to target the middle class and lower-income people. McDonald has a particular value pricing such as happy price menu, family meal, happy meal with the aim of increasing the sales of its product.

Analyse the significance to market outcomes of:

Promotional methods

The promotional mix defines the strategy to be used for effective communication with the customer and various method of communicating with the consumers. Mcdonald promotes their product to reach a larger audience of customer’s .However it has also created differentiation in the mentality of the customer through their service. For example, campaign done in 2013 about has you done your break (Slideshare.net, 2017)? The idea of this campaign was to bring to the attention of its consumers who were an office worker and wanted to grab a quick lunch because of too much work at their desk. The complaint aimed to bring to the attention of its workers on how fast the work services can be offered to the customer by McDonald.

Customer base

The company believes that a successful internal marketing can lead to successful external marketing. The internal marketing of the company includes the training, motivating, hiring employees. Through this way, the company can happily server its customer resulting in satisfied customers.

The company considers all factors that influence the purchasing choices of the consumer. The buying choice can be most affected by large elements than the product itself.

Channels of distribution

The channel distribution in the management range of process is engaging in distributing the products to the end customer. This strategy has been adopted by McDonald Pakistan and is providing their customers with places where they can get the products. The Pakistan restaurant has brick and motor and online retail for selling the product. The restaurant in Pakistan has generated more sales revenue as compared to other places where the product is being provided.

Level of customer service provided

McDonald understood its customer behavior and provided products that meet their demand. The company has offered a wide variety of choice to its customers. Customers have various ways of how they want to spend their money based on their needs. McDonald has addressed this issue by providing the customers with a choice (Slideshare.net, 2017). The company has always created a menu of what the company offers and prices alongside. McDonald places keen observations of consumer taste and preference. They achieve this through new products introduction and doing away with the old ones, which are not performing well in the market.

Establish the marketing mix components on areas such as:

• Information on how each element of the marketing mix has been used.  

• Analyse and test their significance to each other and relevance to customer base.

Product/ services

(What features and benefits do you offer?

The unique selling position - what makes your product/service different from your competitors’?)

The product is the tangible product or services that a company bid to its customers. The product comprises of ways in which the company should produce the product and design it so that it can enhance customer experience.

 Certain aspects have been included in McDonald products, both the product and the services as, the looks of the product, desirability, and packaging.

Price

(Price is a critical component of the marketing mix as choosing the right price for your products or services will help to maximise profits and also build strong relationships with customers.)

The pricing strategy used by McDonald significance can be seen in the number of loyal customers the business has. The success of the business has been through its affordable product price and broader customer base the company has

Place

(Represents the location where a product can be purchased. It is often referred to as the distribution channel.)

The place comprises of distribution channels and company outlets (Anon, 2017).Distribution channels used and places to find product is very crucial matter. These are because the product should be available to the customers at the right time without any delay, and at the right time in the quantity that matches the demand. McDonald offers a high degree of satisfaction to its customers based on the value of the needs of the customers. The company provides better service and good hygiene atmosphere in its restaurant. Among the distribution channel used by the company, it has taken advantage of the internet and provided, to offer internet facilities outlets.

Promotion

(Promotion is more than selling and advertising your business. It’s about attracting the right people to use and reuse your business. There are a number of techniques to use and they can be combined in various ways to create the most cost effective strategy for your needs.)

Effective communication to the customers has been seen through by the strategic promotional activities set by the company. Some of the promotion employed by the company includes advertisement, personal selling, public relations and sales promotion. The tools for promotion used by the company is to integrate the program of marketing communication that allows McDonald access the communication channels consistently, transfer of messages quickly and advertising the product to the target audience.

People

(Knowledgeable and friendly staff can contribute to creating satisfied customers, and can provide the unique selling experience that an organisation is often seeking.)

McDonald understands the critical role that its employees and customer have in the successful running of the business. It comprehends that satisfied and happy employees can serve the customers well and result in customer satisfaction

Physical environment

(The physical environment where your products or services are sold and delivered can have a significant impact upon how your customers experience your business.)

McDonald has made meaningful use of the packaging material, carry bags, oil, beef, and power. The company process leads to the generation of solid waste in extensive amount. The business has tirelessly worked to improve its manufacturing process and improve on the ecological sound of its business. The company has reinforced buying of beef practices which do not lead to deforestation.

Process

(Process represents the buying experience that the customer experiences when they buy your product or service.)

McDonald has introduced online platform where customers can place an order for what they want. The company has also developed an application that serves as it’s online and brick and mortar store. This has improved customer improvement in the purchasing experience.