Marketing Plan Phase 2

Topics: Marketing, Fast food, Hamburger Pages: 7 (1577 words) Published: April 24, 2014


Points = 5.00

Marketing Plan: Phase II
William Pacheco
Adam Newsome
Catherine Love
University of Phoenix
Marketing
MKT/421
Professor Mark Sanders
January 1, 2014
Introduction
This paper will address the following: identify the segmentation criteria that will affect McDonald’s target market selection, identify McDonald’s target market, describe the organizational buyers and consumers of McDonald’s product and the factors that influence their purchasing decisions, discuss how these factors will affect McDonald’s marketing strategy, and analyze current competitors and define the competitive landscape for your product or service. Segmentation Criteria that will affect McDonald’s Target Market Selection. “Market segmentation is a two-step process of (1) naming broad product-markets and (2) segmenting these broad product-markets in order to select target markets and develop suitable marketing mixes” (Perreault, Cannon, & McCarthy, 2011, p. 92). To complete successful market segmentation an organization must gather information on potential customers, divide the population into various market segments, estimate the most profitable segments, and rank the market segments by potential sales. This process is imperative during the marketing process because it distinguishes customers according to their age, income, lifestyle, and other factors. This enables marketers the ability to craft a unique marketing strategy to suit each segment. Demographic segmentation, psychographic segmentation, and behavioral segmentation criteria will affect McDonald’s target market. Demographic segmentation focuses on the age, gender, race, and other factors. Using the information from the United States Census Bureau can assist with this segmentation. Since its humble beginnings in 1954, McDonalds has over 35,000 locations in over 100 countries that service about 70 million customers daily ("McDonald’s", 2014). Focusing on the demographics can help the organization pinpoint areas that will be most susceptible to the healthier McVeggie menu choices. Next, the criteria of the psychographic segmentation will likely affect the selection of the target market. Customer’s values, interests, attitudes, and lifestyles are some factors to consider in this segmentation. This analysis will predict if the customer is health conscious or possibly considering the transition. Lastly, behavioral segmentation helps to identify customers that are affected by brand loyalty, price sensitivity, user patterns, and usage rates. This segmentation forms groups of customers according to the occasions in which they make purchases, benefits of using a particular product, the amount of usage, and importance of loyalty. If McDonald’s focuses on the different segmentations described to garner the best marketing practices, it would find the best ways to reach the ideal customers for the McVeggie menu. Identifying the Target Market

The McVeggie menu is primarily aimed to appeal the vegetarian consumer market that is looking for convenient eating on-the-go at affordable everyday value prices. Because the new food products will be designed based on the vegetarian nutrition values, the primary target group will be the vegetarian consumers. The new products will cater to the needs of consumers that are interested in vegetarian products that taste great, meet the vegetarian diet requirements, and can be acquired on the go at reasonable prices. Who are vegetarians and what can they eat? According to "Vegetarian Society" (n.d.) a vegetarian is, “someone who lives on a diet of grains, pulses, nuts, seeds, vegetables and fruits with, or without, the use of dairy products and eggs. A vegetarian does not eat any meat, poultry, game, fish, shellfish* or by-products of slaughter" (What is a vegetarian?).  People practice vegetarianism for different reasons such as religion, health practices, or social reasons ("Vegetarian Society", n.d.). These new food...

References: BK. (n.d.). Retrieved from http://www.bk.com/cms/en/us/cms_out/digital_assets/files/pages/Nutrition%20APRIL%202014.pdf
McDonald 's. (2014). Retrieved from http://www.mcdonalds.com/us/en/our_story.html
Perreault, W.D., Connon, J.P., & McCarthy, J.E. (2011). Basic marketing: A marketing strategy
planning approach (18th ed.). Retrieved from The University of Phoenix eBook
Collection database.
Rich, J.R. (2007). DMM Server. Retrieved from
http://www.dmmserver.com/DialABook/978/047/008/9780470089514.html
Subway. (n.d.). Retrieved from http://www.subway.com/Menu/Product.aspx?CC=USA&LC=ENG&ProductId=16&MenuID=35&MenuTypeID=1
Vegetarian Society. (n.d.). Retrieved from https://www.vegsoc.org/definition
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