Section I: Consumer Brand Name, Description & Analysis.
Include the brand name, & all components of the “Product Mix” such as product design, attributes, brand name, packaging, warrantees, service plans, etc. Describe the primary target market for the brand & why the company selected this primary target market. Include your analysis as to how valid you consider the target market selected. Also, tell us who the competition is (direct & indirect). Remember to document (with citations in the body) the sources of information. Could any attributes of the product mix be improved? Why, or why not?
Section II: Place Description & Analysis
Include all areas of the Place “P” that we have read & discussed in this class. Explain the place/delivery strategy (give sources of information). Discuss the distribution channel & logistics including final delivery to the end user. Explain the type of distribution used – intense, selective, or exclusive – & why. Provide an analysis of the effectiveness of the place/delivery strategy. How does it compare to that used by the primary competition? How does the distribution address the needs, wants, & desires of the primary target market? Could any parts of the place mix be improved? Why, or why not?
Section III: Price Description & Analysis
Include all areas of the Price “P” that we have read & discussed in this to class. Explain the company’s pricing concept, strategies, & practices. Is pricing strategy: skimming, competitive, penetration or a combination. How? Why? Compare the pricing strategy to that of the primary competition. Remember to cite sources of this information. Also, explain why the pricing strategy meets the needs, wants, & desires of the primary target market. Could any parts of the price mix be improved? Why, or why not?
Section IV: Promotion Description & Analysis
Include all areas of the Promotion “P” that we have read & discussed in this class. Explain the message used in promotion. How does it address the needs, wants, desires of the primary target market? How does it differentiate the brand from the primary competition? Include all promotional vehicles that are used & how they are used (such as advertising, public relations, sales promotion, direct marketing, &/or personal sales). Include the media used in promotion. Provide an analysis of how effective the promotional plan is & how it compares to that of the competition. Again, cite the sources of the information. Could any parts of the promotional mix be improved? Why, or why not?
Section V : Conclusion
In your conclusion, describe the effectiveness of the marketing strategy & marketing mix strategies for the brand. Respond to the following questions: how effective is the marketing strategy? Could it be improved? How could it be improved?
The select product for this report is Big Mac. The Big Mac is a type of hamburger dealt in by worldwide fast foodstuff restaurant chain McDonald’s. The product’s main target market includes a broad range of individuals, from families who enjoy their happy foods, to workers in various working stations. Big Boy Hamburger produced by Big Boy Restaurants International is the most protuberant competitor of Big Mac. This report presents a comprehensive analysis of marketing strategies of the Big Mac product in various dimensions.
The Big Mac comprises of an iceberg lettuce, binary 1.6 oz (46.4 g) beef pies, onions, special pulp, pickles, and it is presented in a three-part sesame seed bap. The Big Mac, which is packed in collapsible cardboard boxes, is a widely available product in markets since its taste is appealing and can be accessed in different sizes (McDonald's par. 1). The main target market for Big Mac product is the US and India which have enough population density and are comprised of the primary target audience; the youth. McDonald’s majorly advertises their products in social media platforms where majority of the youth people spend most of their time surfing (HT Media Limited par. 2). Targeting the youth in USA is indeed proportional since they have ample influence amongst each other as well as their family places. McDonald’s Company faces stiff competition from both direct and indirect competitors such as Popeye’s, Wendy’s, Big Boy Restaurants, and Yum! Brands (Nielson par. 2). These companies produce products which satisfy the same need as the Big Mac and some that are essentially the same.
McDonald’s uses several intensive distribution outlets and places spread throughout the cities to further convenience of their product. Both internal and external people such employees and agencies are trained standard marketing skills to handle customer issues in different places. The Big Mac production Process is totally transparent that is the entire process is noticeable to the consumers (Upadhyay par. 1). Upon closer securitization of the delivery strategies employed by Macdonald, it is evident that they outdo those implemented by Big Boy Restaurants, their biggest rival. This is so because MacDonald has efficient distribution channels such as agents located in school canteens and other public places such as supermarkets tailored to meet the demands of their customers as soon as they rise. No verifiable need to alter the place mix of the Big Mac since they are all well customized.
While setting the Prices for their products, McDonald’s groups their products into two classes: branded core value products (BCV) and the branded affordability (BA) (McDonald’s par. 19). The Big Mac falls under BCV. This strategy has been effected to satisfy customers with different price perceptions. McDonald’s applies both psychological pricing and price bundling pricing strategies (liz par 1). Psychological pricing technique aids the Company to shape an impression of its brand in the market without making noteworthy variations to the product. Bundling pricing abridges production and decreases miscalculations. Big Boy Restaurant mainly uses the pricing for profitability strategies which designed to provide the company with tools to realize real economic profits (Daly p. 78). As opposed to the duo pricing mechanisms employed by McDonald’s, pricing for profitability can be quite exploitative if not properly administered. Psychological pricing and price bundling approaches help at building the rapport of the firm with customers by adequately getting the value of their money when they consume the Big Mac. Again none of these pricing mix segment needs improvement since they are suitable and efficiently personalized.
The promotions feature of the marketing mix entails every type of marketing communications. Some of the approaches used by MacDonald’s include advertising, on television, cinema, radio, online, use of poster places and in the media for instance in broadsheets and periodicals (MEYER par. 5). These promotional messages are very effective since they make consumers aware of a foodstuff and more details about the items. Other vehicles of promotion are merchandising, loyalty schemes, point of sale display, and door drops. These approaches are tailored to reach individuals who are not reachable through the aforementioned techniques. The line marketing techniques used by Macdonald cut across and are available to all target audiences including children. Big Boy Restaurants International, LLC targets similar markets and groups and as a result employs similar promotional tools as Macdonald. Thus, this segment of the product mix fails to differentiate the products produced by these two firms. No part of the promotion mix requires improvement because they are all effective and sufficiently designed to meet customer demands
The marketing mix of McDonald’s comprises of the numerous rudiments in the marketing mix that forms the central of a business’s marketing scheme and henceforth aids to attain marketing purposes. Above marketing mix of McDonald’s Company discourse the 4p’s of the prominent burger chain transversely USA providing the yummiest burgers and other products. The applied marketing strategy is splendidly tailored to reach all existing and potential customers to remind and persuade them to purchase the Company’s products.
Daly, John L. Pricing for profitability : activity-based pricing for competitive advantage. New York : Wiley, 2002.
HT Media Limited. McDonald's says youth are primary target consumers. 04 October 2011. 3 12 2017 <http://info.shine.com/article/mcdonalds-says-youth-are-primary-target-consumers/6850.html>.
liz. The Pricing strategies of McDonald’s. 8 june 2015. 3 12 2017 <http://burnsetal.com/2015/06/pricing-strategies-macdonalds/>.
McDonald’s. MCDONALD`S MARKETING REPORT. 6 april 2017. 3 12 2017 <https://essay607.wordpress.com/2017/04/06/mcdonalds-marketing-report/>.
McDonald's . "The one and only. Big Mac." 2017. 3 12 2017 <https://www.mcdonalds.com/us/en-us/product/big-mac.html>.
MEYER, PAULINE. McDonald’s Marketing Mix (4Ps) Analysis. 5 February 2017. 3 12 2017 <http://panmore.com/mcdonalds-marketing-mix-4ps-analysis>.
Nielson, Samantha. Whom does McDonald’s compete with and who poses the biggest threat? 25 December 2013. 3 12 2017 <http://marketrealist.com/2013/12/mcdonalds-global-business-model-three-legged-stool/>.
Upadhyay, Rohini. Distribution Strategy of McDonald. 26 March 2011. 3 12 2017 <http://www.managementparadise.com/forums/elements-logistics/217308-distribution-strategy-mcdonald.html>.
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