Importance of the Marketing Concept to McDonalds Assignment

Importance of the Marketing Concept to McDonalds - concession ExampleMarketers can only offer service propositions, but their value depends on customers experiences and assessments. An organisation uses the trade concept by interpreting customers needs through their values, beliefs, and practices, adopting this understanding to guide organisational vision, mission, and core values, and finally implementing it through intelligence gathering, sharing, and application, one of which is through the marketing mix. See Figure 1 for the Marketing Concept. Organisations use the marketing concept because they are aware that it has been empirically related to higher sales, profitability, product quality, success of new products/services, employee morale, and ordinary performance (Ailawadi, et al., 2006 Shiu and Yu, 2010 van Triest, et al., 2009). Figure 1 The Marketing Concept Source Nakata and Sivakumar (2001, p.256) MCDONALDS COMPANY OVERVIEW McDonalds Corporation operates and franchises McDonalds restaurants in 119 countries. McDonalds restaurants offer a standard wag, which includes, McDonalds menu includes hamburgers and cheeseburgers, walloping Mac, Quarter Pounder with Cheese, Filet-O-Fish, several(prenominal) chicken sandwiches, Chicken McNuggets, Snack Wraps, French fries, salads, oatmeal, shakes, McFlurry desserts, sundaes, loco serve cones, pies, soft drinks, coffee, McCafe beverages and other beverages, including local and limited-time products (Reuters.com, 2013). Furthermore, the corporation enjoys sustained ripening with a global comparable sales growth of 3.1%. Sources showed that some of the target markets needs and wants are 1) the need to buy quick and nutty food for busy parents and businesspeople 2) parents want to give treats to their... This discussion declares that the marketing concept has evolved significantly for the past times sixty years. Most of the definitions of the marketing concept in the 1960s emphasise the relationship betwee n organisations and customers, plot of ground current definitions in the twenty-first century seek to be more inclusive by embrace a stakeholder approach to defining and attaining values.As the paper stresses McDonalds Corporation operates and franchises McDonalds restaurants in 119 countries. McDonalds restaurants offer a standard menu, which includes, McDonalds menu includes hamburgers and cheeseburgers, Big Mac, Quarter Pounder with Cheese, Filet-O-Fish, several chicken sandwiches, Chicken McNuggets, Snack Wraps, French fries, salads, oatmeal, shakes, McFlurry desserts, sundaes, soft serve cones, pies, soft drinks, coffee, McCafe beverages and other beverages, including local and limited-time products. The company enjoys sustained growth with a global comparable sales growth of 3.1%. The marketing concept is pertinent to McDonalds because of its tools of competition analysis and 7Ps marketing mix. For competition, the next contender to having the biggest global market share is Yum Brands, Inc. KFC is expanding its menu through adding wraps and local food, even vegetables for some Asian markets. Burger King and Wendys are updating their shop class designs and layout. Apart from competition analysis, McDonalds can be examined further through its 7Ps marketing mix.