Mba marketing Assignment

Mba marketing Assignment Words: 2794

Will discuss in detail from the bottom to top of an organization. Fifthly, essay will critically discuss r Develop a list of between 3 and 5 recommendations in a time bound schedule for action based on survey results that will make the surveyed organization more market oriented. In last, essay will give final conclusion of whole essay. This paragraph will critically discuss about the marketing management, mission and objectives, benefits and focuses on the tasks marketers who perform to manage the marketing activities of their organizations and the environment of marketing decisions.

According to AMA (American Management Association) defines Marketing management program is designed for customers to encounter all the basic halogens in the industry: how a company decides what to sell, which customers and markets to target, and the best means of reaching them. In many courses, you work in project teams-??Just as professionals do-??to create strategies for product development, pricing, promotion, and distribution. You learn to respond to the demands of competitors, the government, and larger social issues. It is an important part of management, which involves all the distribution of marketing activities.

Don’t waste your time!
Order your assignment!

order now

There are four variables about which the marketing management team has to take decisions: the product itself, the place where it to be sold (distribution of the reduce), the marketing communications methods to be used to inform the consumer and the price. These four variables are known as the marketing instruments or the marketing mix. According to Neil James Occultation (1964). Marketing manager as a mixer of ingredients” included Product planning, pricing, branding, distribution channels, personnel selling, advertising, promotions, packaging, display, servicing, physical handling.

The marketing process includes understanding the organization ‘s mission and the role that marketing plays in fulfilling that mission. Marketing is obviously an essentially role in all public and commercial organizations. The mission and objectives: The mission statement describes the purpose of a company. It should guide people in an organization, although even working in different business units, to achieve collectively a common visionary goal (Kettle et al. 1996). Role of marketing is a vital business function that is necessary in nearly all industries, whether it operates as a for- profit organization.

For the for- profit organization, marketing is responsible for the most tasks that brings revenue and hopefully profit to the organization. For the not -for -profit organization, marketing is responsible for attracting customers needed to support the organizations, it is unlikely they could survive without a strong marketing effort. Marketing offers significant benefits to society that includes 1) developing products that satisfy needs, including products that enhance society quality of life. 2) Creating a competitive environment that helps lower product prices. ) Building demand for products that require organizations to expand their labor face. 4) Offering techniques that have the ability to convey messages that change societal behavior in a positive way (e. G anti smoking advertisement). In conclusion: Marketing is an important part of management, which involves all the distribution of marketing activities. In other words we can say marketing management is the leader, This paragraph will critically discuss about the market orientation. It focuses on the Key factors that serve as benefits and barriers to a company attempting to become market oriented and advantages of market orientation.

The idea of market orientation is that organizations should focus on the interaction with customers and hen look inward to explore how that customer knowledge can be used to build organization-wide responses. Kohl’ and Gasworks (1990) highlights the concepts referring to the organization wide generation of market intelligence pertaining to current and future needs of customers, dissemination of intelligence horizontally and vertically within the organization and organization wide action or responsiveness to market intelligence.

Nerve and Slater (1990) featured some similar elements, seeing market orientation as three behavioral components consisting of customer orientation, competitor orientation and international co-ordination. Customer and competitor orientations include all the activities relating to the information generation about the buyers and competitors in the designated target area, whereas international co-ordination is based on the utilization of company resources effectively in creating a superior value for the target customers.

Because any individual in any function in a seller firm can potentially contribute to the creation of value for buyers. Nerve and Slather’s emphasis is, however, on market orientation as organizational culture, which they argue drives behavior. This means that market orientation can only exist if there is a culture that is oriented towards customers. We should, however, remember that while culture drives behavior, behavior also drives culture. If we see culture as static we might come to the view that in a monoester- oriented culture, people cannot consistently be market oriented.

Yet we would argue that culture is dynamic. Leaders cannot simply tell people to be more customer oriented and expect a transformation to occur, but they can lead by example and committed groups of individuals can change the organizational way of doing things by focusing on the delivery of customer value. Gasworks and Kohl endorse the importance of leadership in their analysis of the antecedents of market orientation because of leaders’ ability to stimulate an external focus ‘through continual reminders to employees that it is critical for them to be sensitive and responsive to market developments’.

Gainer and Paydays (1993) argue that researchers see market orientation as a cultural construct or a behavioral construct (separate or connected/ correlated), or even a hybrid incorporating both cultural and behavioral aspects. Their study of nonprofit organizations showed that a positive relationship between arrest-oriented behaviors and organizational performance is mediated by market orientation. According to (Shapiro (1988) and Massively (1988) Key factors that serves as positive and barriers to a company attempting to become market oriented.

Benefit factors for companies to be market oriented. (1) Having enough information on the buyers characteristics and how they influence the role of each individual departments. (2) Making strategic decisions, taking all functional departments into account, to provide solutions for buyers. (3) Having well co-ordinate divisions, making decisions and exercising them with a sense of commitment. Factors that serves as barriers to a company attempting to become market oriented. (1) Most driven by the market and customers needs.

If a marketing plan does exist in the company, it is frequently not well communicated to those who must carry it out: customer service representatives, clerks, order processors etc. (2) Most employees do not know how to discharge their functional responsibilities into market and customer responsive actions: conversely, they do not know how to look at the market from their functional perspective and do not recognize opportunities in the market. (3) Most national areas do not understand the role of other functions in the company.

Hence, they do not know what information they should communicate to the other functions about the customer and what information they should seek from those other areas. In conclusion: Nerve and Slater scale was found to be superior to the others in terms of predictive validity, but based on scale reliability, limited unintentionally and construct domain no single scale examined here was found satisfactory. This paragraph will critically discuss about the four best ways in detail, which is beneficial for an organization.

The superior abilities of the market driven firm lead to bottom line benefits from improved performance. Although managers have been exhorted to stay close to customers and put the customer at the top of the organization chart for at least forty years, this advice had to be taken on faith until recently. Now, a growing body of research has found that market driven firms usually are more profitable than their rivals, a conclusion that has been sustained with a variety of measure and methods.

Although these studies have not been able to trace the precise reason why market orientation encases profitability, clues from other resource indicate several benefits of a market orientation. (1) Superior cost and investment efficiency: Not all customers are equally attractive and loyal customers are considerably more profitable than others. A market driven firm is better able to identify and keep its profitable accounts, and understands the payoff from its marketing investments. 2) Employee Satisfaction: Satisfied employees are both a cause and consequence of customer satisfaction. They are also more committed and enthusiastic about the firm. More productive and because they are more loyal the costs of recruiting, selecting and training are lower. The cost of employee turnover is also lower- not only the direct costs of hiring replacements as replacements learn their Jobs and broken relationships are repaired. (3) Competitive Preemption: With highly satisfied customers, the firm has erected switching barriers that competitors cannot easily breach.

These could be Psychological (the customer is comfortable in the relationship and resists changing) or economic (there is a large perceived cost or risk to making a switch) (4) Revenue growth: Here the evidence is not so conclusive, but we expect a superior ability to anticipate changing market requirements and argue innovation efforts more effectively should have top line benefits. These bottom- line benefits are derived from a set of inherent advantages market driven firms have over more internally focused rivals.

The market driven organization is better able to understand markets by sensing emerging opportunities, anticipating competitor’s moves and making fact based decisions. It is also better able to keep customers by delivering superior value, encouraging loyalty and leveraging its marketing and investment efficiency, Employee Satisfaction, Competitive Preemption, Revenue Roth) plays an important role in the growth of an organization in an efficient and effective way. This paragraph will critically discuss about an organization (McDonald’s) and determines how market oriented it is.

McDonald’s is customer centered. Established in 1955 as a small Illinois neighborhood restaurant, McDonald’s has developed rapidly in becoming one of the world’s best known brands of fast food with over “30,000 restaurants in over 120 countries and with 2001 sales in excess of $40 billion the company claims to be the world’s largest food service organization” Cones et al, 2002). The McDonald’s brand continues to enhance its worldwide reputation to this day, the main reason behind this continual success is because the organization listens to its customer’s needs and expectations.

It is imperative that McDonald’s remain customer focused due to the vast amount of competition in the fast food sector, “customer orientation is critical to business profitability (Donaldson,1993; Nerve and Slater,1990) and is “a necessary antecedent of competitive advantage” (Gamesman,1994; Williamson,1991). The typical McDonald’s customer cannot be stereotyped or defined. In an attempt to categorize the typical McDonald’s customer market research has been carried out which identifies different types of customers, for example (a) A parent with two children – Visits the restaurant to give children a treat. B) Children – View McDonald’s as a fun place to eat. (c) A Business Customer – Visits during the daytime as service is fast, the food is good quality and can be eaten whilst on the move. (d) Teenagers – Attracted by the Saver Menu and the affordable food, Wi-If Internet access is also an attraction. In order to appreciate and understand how customer relationships are critical for profitable organizations e need to understand the key fundamental marketing principles. Once these key principles have been discussed the author will discuss how these fundamental principles are applied within the organization of McDonald’s.

A “consumer-centered organization is focused upon and structured around, identifying and satisfying the demands of its customers” (Marketing-Management,2009) McCarthy (1964) developed the early marketing mix models and formulated the APS concept consisting of product, price, promotion and place. Since its conception the APS ‘became treated as the unchallenged basic model of marketing’ (Gross,1994) resulting in most other oodles and approaches being overlooked and discounted in preference of this model. Traditionally the marketing mix has consisted of the 4 As. 1) Product: This area covers all aspects with regards to creation, development and management of products (Broadcasting & Appetite,2003). Some are physical products; others intangible personal services, the product can include non-core items such as packaging and after-sales service. A huge amount of choice is available on the McDonald’s menu, McDonald’s places ‘considerable emphasis on developing a menu which customers want’ (McDonald’s ,2009). McDonald’s’ product popularity is supported by the following customer statement. 2) Price: it represents on a unit base what the company receives for the product or service which is being marketed Cobber 2001). A customer statement with regards to the price at McDonald’s, it is a real treat for the family and concerned with how the product of service is made available to its target audience Cobber 2001). McDonald’s promotes its products and brand to customers through numerous methods such as sales promotions, direct mail, exhibitions, seminars, loyalty schemes, demonstrations and telemarketing.

McDonald’s customers are also given the chance to win various prizes ranging from food vouchers to cash and sports cars via in-store game-based promotions. (4) Place: it is concerned with distribution channels and consumer service levels (Baker, 1999). ‘Place’ refers to decisions about the ways in which products can be most effectively distributed to the final consumer, either directly or through intermediaries. Customers can interact with McDonald’s on their website which can be used as an effective data gathering tool for relationship marketing.

McDonald’s restaurants are strategically placed in convenient locations, in detail outlets, motorway services and busy city/town center’s – the aforementioned locations are either associated with leisure or relaxation activities. By strategically placing their restaurants McDonald’s position themselves within the required target market. ” To achieve our four business objectives – attracting more customers, increasing frequency, building brand loyalty, and increasing productivity – we will concentrate on the four drivers of superior customers experiences: products, place, price, and promotion. Christened (2005) supports the strategic marketing concept by dating ‘if firms are truly to become market-orientated, the marketing function itself must become more strategic in its orientation’. Kettle and Keller (2006) also stress the importance of structuring the organization to focus on the customer by management educating themselves and their staff about their marketing focus to show how it will support long-lasting success in the marketplace. McDonald’s ‘takes a commitment to continuous training, from counter staff level, right through to senior executives’ (Tompkins, 1995).

In Conclusion: It is evident through this report that McDonald’s as an organization is extremely customer focused. By carrying out research within the marketing mix concept it can be seen that all of the APS and associated models are utilized by McDonald’s. McDonald’s has succeeded in establishing a highly trained internal and external workforce, which has resulted in high levels of customer service ultimately resulting in consistently high sales and customer retention and acquisition. This paragraph will critically discuss McDonald’s and make the surveyed organization more market oriented.

McDonald’s more focus on customer orientation according to my survey Macdonald is 62% customer orientation and competitor and international both got 61%. A group of actions taken by a business to support its sales and service staff in considering client needs and satisfaction their major priorities. Macdonald strategies that tend to reflect a customer orientation might include: developing a quality product appreciate by consumers; responding promptly and respectfully to consumer complaints and queries; and dealing sensitively with community issues.

Customer orientation helps firms with a clear in-depth understanding of consumer, which results in a focused marketing effort. Research has confirmed that customer orientation helps firms to increase performance and enhance customer satisfaction. McDonald’s 61% Competitor orientation, which similarities, and differences, seeking out ways to set the business apart and above surrounding competitors. It rapidly respond to competitive actions that threaten us. McDonald’s salespeople regularly share information within our organization concerning competitors’ strategies.

Top management regularly discusses competitors’ strengths and strategies. 61% international orientation is Marketing managers must work closely with other department to come out with a strong marketing plan to boost McDonald’s sales and efficiency of the operation. For example, the company management has a clear goals regarding importance of retaining customers by offering satisfaction to all its customers. This is not Just the efforts alone from Marketing Department but involves hard work, cooperation and understanding from various parties MacDonald managers understand how everyone in business can contribute to creating customer value.

All of business functions (e. G. , marketing/sales, manufacturing, etc. ) are integrated in serving the needs of target markets. All the departments in Macdonald Company are responsive to one another’s needs and requests. Macdonald top managers from across the company regularly visit our current and prospective customers and total this whole survey shows that MacDonald is 61% market orientation. McDonald’s is a market-oriented company. It defines its business in terms of benefits its customers seek.

How to cite this assignment

Choose cite format:
Mba marketing Assignment. (2019, Nov 18). Retrieved January 21, 2022, from