Marketing is a process which is creating customer value in the form of services, goods or ideas that can improve the customer’s life. Anyone who want to constant his/her business for long period can never ignore marketing process. It’s no more confined with advertising few brands of exchanging few product. These two are only the point of marketing iceberg. Therefore “satisfying consumer needs” is the main principle of marketing which we understand. “To make exchanging unnecessarily is the main purpose of marketing” said by management Preceptor Peter Drucker. It can be said that Marketing is a social and managerial process by which organizations can generate value for its customer and grab what they need and want through exchanging and creating value with others. Marketing can hold value from the consumers in return by helping firms or individual to make a strong relationship with them. Author will realize the process and concept of marketing from this assignment. This assignment will also hold how to use the theory of targeting , segmentation and position of brand which is the most important. It will also realize the marketing mix and the uses of marketing mix from different context.
1.1 Various Elements of Marketing Process
Marketing process consists of few elements. A general five-step model of the marketing process is
1.2 The Benefits and cost of marketing orientations of McDonald’s
A firm which uses the integrated marketing policy to satisfy their consumers that introducing them the exclusive experiences and the best products for the target market. So the McDonald’s is the good example in this regard. Therefore the McDonald’s always try to deliver the best products to the target customer by f...
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...any , the raw materials for the product delivery and the best service are always provided by the suppliers of McDonald’s. For example: McDonald’s provide the hamburgers and the unique desert for enchanting its customer.
Competitors such as Starbuck, Burger king, KFC and so on are the most influential element of the micro environment. Therefore substitute products have been being provided by them for the customers.
Stakeholders of McDonald’s are another most influential element of the micro environment such as customers, investors, publics, target market, actual and potential customers that always demands for the maintenance of the stockholder relationship ,the highest interactivity and the service delivery for the longer period (Fill, 2011)
Macro environmental elements consists of natural, political, technological, economic, legal and demographic cultural elements.
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