Marketing

Topics: Marketing, Fast food, Fast food restaurant Pages: 10 (1946 words) Published: March 10, 2015

Relevance of the Marketing Concept as a Management Philosophy Prepared for:University Of Ulster
Prepared by: Santosh Lama (B00623651)
Date: 20/11/2014
Word count:- 2048

Table of Contents
Executive summary
Intoduction
2
3
Critical Analysis of Marketing Concept and its Relevance.4
Marketing Concept4
McDonald’s Implementation of Marketing Concept5
McDonald’s Strategy Influence Its Business Structure6
McDonald’s in China6
McDonald’s in France6
McDonald’s Strategy Influence Its External Environment7
Health issues7
Focus on Children7
Marketing Concept in Today’s World8
Recommendations and Conclusion9

Executive summary

In this paper, a detailed analysis of the relevance of marketing concept in today’s world has been presented. Moreover, a managerial report is given on the implementation of marketing concept in McDonald’s Plc. The analysis on the influence of company’s chosen philosophy at its strategies and external environment is also given in the write-up. In the end recommendation have been made on how to implement successfully marketing concept as a management philosophy

Introduction

For any organisation to compete in the rapidly changing market has to adopt a certain systematic approach to ensure its progress in the future. The company has to adopt a specific philosophy by making a decision that how it will harness its strengths to show progress and satisfy the consumers (Koontz et al, 2007, p. 86). The philosophy has to be selected on what tools the company should use in order to achieve its desired goals and objectives and how the firm can manage and market its products and services effectively. There are four fundamental marketing philosophies that a firm can choose from production, sales, marketing and social marketing concepts.

Overview of the Company

McDonald’s is a fast food chain of around 30,000 restaurants in more than 100 countries. The fast food chain serves about 52 million customers each day and is considered one of the largest food retailers (Paul & Roy, 2014, p. 99). It is part of an American daily life. The company has developed various management strategies and business programs for motivating resources and to progress in the fast food market. McDonald’s provides the best opportunity to evaluate organisational philosophies and their influences with the organisation.

Marketing Concept

Marketing concept is a management philosophy that relates organisational goals with customers’ satisfaction. According to Kotler and keller (2012) argues that the marketing is a concept of penetrating business within the existing market. Identifying and satisfying the stated and unstated needs of the clients can only achieve the objectives of a firm. Marketing is the process of management responsible for identifying; anticipating and satisfying the customer needs align with the company objective (CIM, 2001). The needs of the customers are not obvious all the time and they also keep on changing. It does not mean that the manufacturers forget about creativity and innovation and only strive to meet the customers’ satisfaction but they should encourage innovation so that the clients get satisfied. The concept of marketing orientation is based on the knowledge that sale is not dependent on aggressive promotional forces but on the decisions of the consumer to buy a specific good or service. Those companies, which adapt this strategy, design and manufacture their products as per the needs of the customers. Their agenda is to make profits by satisfying their customer. Many organisations from today’s world have chosen this philosophy and brought the organisation to success such as Disney, Procter & Gamble, Toyota, McDonald’s, Nike and many others.

McDonald’s Implementation of Marketing Concept

McDonald’s is one of the most famous and successful companies that...
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