Strategic Marketing Management

Topics: Marketing, Strategic management, Marketing plan Pages: 12 (3506 words) Published: January 1, 2013
Strategic Approach towards Marketing|

2.Planning principles and range of tools and techniques used at McDonalds4
2.1.Planning principles and Processes used in development of Marketing Strategy for McDonalds4
2.2.Porter’s five forces model determining the strategic options6
2.2.1.Threat to new entry:7
2.2.2.Threat to substitute products:7
2.2.3.Bargaining power of the customers:7
2.2.4.Bargaining power of the suppliers:7
2.3.SWOT analysis technique and its usage8
2.3.1.Internal Audit8
2.3.1. External Audit9
3.Marketing strategy options11
3.1.Advantages and Disadvantages of two different Marketing Strategy Options11
4.Implications of Change in Marketing Environment13
4.1.Outline for current changes in Marketing Environment13
4.1.1.Customer’s dining patterns13
4.1.2.Economic conditions14
4.1.3.Political changes14
4.1.4 Role of Media14
4.2.In MY point of view the organization should respond in a way14
4.3.Functional areas supporting to achieve Marketing objectives15

1. Introduction
Marketing management is one of the most important fields of management sciences that can determine a fate for an organization. The nature of marketing environment is subjected to change. The organizations, which are constantly monitoring these changes and are adopting strategic measures to cope with these changes, are successful. For this reason, it is important for the managers to understand the rules and principles involved in planning of marketing strategies and must develop the appropriate marketing strategies in order to determine certain direction. Managers must also be able to select and implement marketing strategies. This is necessary in order to address the key question of interest. It is important to notice that the strategic alternatives and the implemented option are not generalized. This means that the strategic options available for one business organization cannot be applied as it is, to another organizational setting. For this reason it is important to analyze the nature of industry, business, current stage of product life cycle and various other factors before determining strategic alternatives available for the company. In addition to this the alternatives must be critically evaluated to select the best option amongst them. This assignment is one of the important way by which the concepts of strategic marketing management can be clarified and the theoretical concepts learned in the class settings can be applied to the practical scenario. Thus the individual can easily relate the concepts to the practical settings and can evaluate the positive and negative aspects related with the selected alternatives. McDonalds being one of the most famous fast food restaurant chains has been taken as an example and has been used, throughout the assignment in order to explain various concepts related to planning and implementation of market strategies.

2. Planning principles and range of tools and techniques used at McDonalds Marketing environment has been subject to change from several decades. There are various challenges which are faced by the marketers in the twenty first century. For this reason, there is a need for strategic planning in order to balance the goals and resources of an organization in order to grasp the opportunities available in the marketing environments and to reduce the level of competitive threats. There is systematic approach involved in marketing management which enables the marketers to plan, formulate and implement the best marketing strategies in order to achieve edge over the competitors. In addition to this, various processes are also used in the marketing departments so that it is ensured that all the systems are aligned with organizational objectives or not. In order to describe the planning...
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