Strategic Marketing Management

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McDonalds | MARKETING MANAGEMENT | Strategic Approach towards Marketing |

Contents 1. Introduction 3 2. Planning principles and range of tools and techniques used at McDonalds 4 2.1. Planning principles and Processes used in development of Marketing Strategy for McDonalds 4 2.2. Porter’s five forces model determining the strategic options 6 2.2.1. Threat to new entry: 7 2.2.2. Threat to substitute products: 7 2.2.3. Bargaining power of the customers: 7 2.2.4. Bargaining power of the suppliers: 7 2.2.5. Competition: 7 2.3. SWOT analysis technique and its usage 8 2.3.1. Internal Audit 8 2.3.1. External Audit 9 3. Marketing strategy options 11 3.1. Advantages and Disadvantages of two different
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3.1. Planning principles and Processes used in development of Marketing Strategy for McDonalds
Marketing strategy is the outcome of certain principles and the principles involves various concepts and systematic approaches which are important in making decisions for the company. On the other hand the processes define the ways to achieve organizational objectives. It is necessary to identify the overall objectives, goals and mission of the company in order to devise the ways to achieve these objectives. As defined in the vision of McDonalds, the company wants to be the largest fast food provider across the globe and the mission of the company is customer centric. Two of the important principles that are necessary to be kept in mind while developing marketing strategy are:
Strategy must be developed in order to address certain problem or issue
Strategy must be aligned with the goals and long term business objectives of an organization
The strategic management processes are used at McDonalds for developing marketing strategies. It can be understood that McDonalds launches new food products in its product portfolio from time to time in order to gain attention of more customers. The company is highly competitive and adopts proactive approach in order to lead its competitors. The first process that is used in developing a market strategy is the Marketing research process.
Market research process:
This is the first and
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