P3 introduction to marketing McDonald’s
Introduction: For this task I have to select one organisation, either McDonalds or Pri?? t A Manger and describe the methods used to make marketing decisions based on the behaviour based on the behaviour of the customers, competitors and the market environment. Marketing Research: Marketing research is aimed to help organisations make effective decisions by providing by providing information that can inform the decision making process Source: BTEC National Business, 2nd Edition, Book 1 (c) David Dooley et al 2007
Different Types of Marketing Research: There are two types of marketing research, they are: Primary Research- Carried out to find new information required for a marketing research project, which has never previously been collected. Secondary Research- Makes use of work already carried out by someone else for some other marketing project or other purpose. Source: BTEC National Business, 2nd Edition, Book 1 (c) David Dooley et al 2007Observations: McDonalds release new types of meals and aim to figure out if the product is selling, if so then they will consider putting it on their menu.
Experimentation: McDonalds have experimented on their “fillet ‘O’ fish” burgers which usually sell for around i?? 2. 30p for one. Since they have released the three burgers
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Marketing Information Gained From Marketing Research: The information that’s gained from marketing research will inform them about their competitors. Information gained such as planning strategies, pricing strategies and economy. The customers The information from McDonalds when marketing research carried out shows: Competitors: Carrying this type of research McDonalds the financial state of their customers. New Products: McDonalds can trial out new products on their customers considering if they are happy with these new products.
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Pricing Strategies: McDonalds can survey their customers regarding their pricing if they are too high or just right. Promotions: McDonalds can consider whether their happy meals have the suitable and fun toys or are they lacking in child enjoyment. How Marketing Information is used in McDonalds: In this global economy crisis they must avoid expanding their businesses, shut down stores lacking in making profit and avoid spending excess funds.
Marketing information obtained through research is used by McDonald to help them identify how to move businesses forward with better planning and strategies that suits their business, it helps them to come up with a fast solution if products need to be improved, redesigned and quality checked. As a fast food retailer McDonald produce most of it’s food unhealthy which leads young generation to obesity so therefore they will be thinking of producing healthy food, for example ‘Pasta Hut’ which generally known as ‘Pizza Hut’. This promotes healthy eating as pasta is a healthy dish.
On of the most important thing that marketing will help is by identifying anything that is lacking in McDonald’s, for most people it is customer conveniences because McDonald don’t do home delivery, as some customers prefer home delivery so therefore they will be thinking of home delivery. Marketing research will help them decide what sort of price suits their customers which will help them to decide the suitable price and also competitors could be used by to revise their pricing strategies which will give them clear idea of taking next step forward.
Through marketing research they will decide if there is any necessary product that needs to be launched if their competitors have launched new product. This will give them information if the competitors’ products have been successful or not if they have then they must launch new products. Marketing research will help them analyse consumer’s lifestyle for example if consumers are moving towards healthy life style, then obviously they would not prefer fast food which leads to obesity, instead they would prefer place like ‘Pasta Hut’ which will cause loss to their income.
Marketing research will inform them about the current dark economic forecast for example ‘Recession’ and ‘credit crunch’ which is the cause of bankrupting Business like ‘Woolworth’ and many other stores so therefore marketing research can be used to decide if some restaurant needs to be closed if satisfactory profit is not gained and to avoid unnecessary Business expansion that will cause long term financial difficulties. Conclusion: From this assignment I have learned about the marketing research and how organisations use this as a means develop their strategies and products. I have done this to the best of my ability and knowledge.