Compose a one page essay explaining the discipline and business process of marke

Question

Compose a one page essay explaining the discipline and business process of marketing to a friend or colleague who has not taken a formal course.

1.Include in your submission, the standard course cover page

2.Be mindful of the guidelines of formal business writing

3.Watch grammar, spelling, sentence and paragraph formation

4.Use the introduction, body and conclusion format

5.Your essay must include not less than ten, (10) of the following terms/concepts. Do not define terms and concepts – terms and concepts are to be used in the essay.

CRM, culture, value proposition , lifestyle

customer value, ethics, satisfaction, final consumer

target market, CSR, demographics, psychographics

macro-environment, brand equity, positioning, perceptual map

marketing myopia, segmentation, sample, big data,

competitive advantage ,cohort analysis, niching, focus group

PLC, adoption, branding, product portfolio

Explanation / Answer

In this essay we will be explaining some of the most important concepts of business process pf marketing. We will take a case study here so as to make the concepts clear.

McDonald is trying to expand in international market, the Indian market that McDonald is considering to step in has a very different culture, people there are quite ethical and prefer not to eat beef and this has to be taken care by the organization and demographic and lifestyle preferences should be considered while introducing various products in the Indian market. The final customer is the buyer of the food product and his satisfaction should be the factor to assess the success or failure of the project i.e. the expectations of the final customer should be met. Having said that the first step should be to segment and divide the market into various segments and then target the market based on analysis of probability of success or failure of the food products. This study can be done using big data available with McDonald. Focus groups can be made to brain storm the ideas of setting up the business. Lastly product portfolio would include the entire menu of the items that would be included and served.

McDonald should consider all the above factors so as to ensure that the ultimate business objectives are met.

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