Marketing Effectiveness Memo:
Marketing is an important aspect of every business, especially hospitality establishments because they operate in an increasingly competitive market. Every business should develop effective marketing strategies that are geared towards attracting customers. When developing marketing strategies, the focus of the initiatives should be ensuring that the product and/or service meets the demands of customers. These marketing initiatives should also act as the foundation for developing and sustaining long-term relationships with customers. One of the major establishments in the hospitality industry that has benefited from comprehensive marketing strategies and initiatives is McDonalds Corporation in fast food operation.
McDonalds Marketing Efforts and Target Audience:
As previously mentioned, McDonalds Corporation is one of the establishments in the hospitality industry that has profited significantly from comprehensive marketing strategies and initiatives. The essence of the firm’s marketing efforts is emphasis on becoming the best fast-food restaurant rather than becoming the biggest fast-food chain through an initiative called a plan to win. As a result, the corporation has continually focused on building its brand through listening to its customers in its various stages in the marketing process. McDonalds develops its marketing strategy after analyzing detailed information regarding its customers in order to create the correct marketing mix.
Under its product and service strategy, McDonalds Corporation has deliberately maintained a limited depth and width of its products and services (“Marketing Strategy of McDonalds”, 2007). Generally, McDonalds Corporation develops its products based on the ...
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... a firm’s marketing strength can never be better and more important than its internal brand because its members are the ones who create customer experiences that shape external brand (Yastrow, 2010). Secondly, internal marketing enhances the motivation and productivity of employees, which contributes to better products and improved service for customers as well as enhanced organizational productivity.
In conclusion, marketing strategies play a crucial role in the success and profitability of hospitality establishments mainly because they operate in a highly competitive industry. This is primarily because these strategies have significant effects on an organization’s brand image, ability to reach its target audience effectively, and profitability in the market. McDonalds Corporation is an example of a hospitality establishment with effective marketing strategies.