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Marketing Essay

3562 words - 14 pages

1BRIOHNY'S ASSIGNMENTEXECUTIVE SUMMARY"Macro environmental forces The larger societal forces that affect the wholemicro environment - demographic, economic, natural, technological, political andcultural forces."- Kotler et alMacro environmental forces need to be studied by organisations as they can bothprovide opportunities and pose threats.The fast-food industry is a consumer service; two organisations that operate in the fastfoodindustry are McDonald's and Hungry Jack's. McDonald's was chosen because itis the primary operator in this market and holds the greatest market share. HungryJack's was chosen because the product they offer is the most similar to McDonald's. Ithought it would be interesting to compare marketing strategies of two organisationsthat offer a fairly similar product.McDonald's is the market leader both in Australia and throughout the world. HungryJack's is positioned more as a market follower.Companies use target marketing to tailor for specific markets. There are threecomponents involved in target marketing: market segmentation, market targeting andmarket positioning. McDonald's primary target markets are seniors, adults andteenagers however the most heavily targeted segment is children. Hungry Jack's alsoessentially segment their market using demographic variables.The final step in target marketing is developing a marketing mix. These tools are alsoknown as the four P's and in the case of services, the seven P's. They are product,price, promotion, place, people, process and physical evidence.With the marketing mix of McDonald's compared to Hungry Jack's, the majordifference is that McDonald's promote their product using the marketing mix moreevenly. Hungry Jack's use many elements of the marketing mix similar toMcDonald's, however they are not as heavily promoted and are more interested inpromoting the physical product.2TABLE OF CONTENTSCONTENTS PAGETitle PageExecutive Summary 11. Introduction 32. The Macro environment, 32.1 Demographic forces 32.2 Economic Forces 42.3 Natural Forces 52.4 Technological Forces 62.5 Political Forces 72.6 Cultural Forces 73. Organisations Within the Fast-food Industry 83.1 Market Position 83.2 Target Markets 93.3 The Marketing Mix 103.3.1 Product 103.3.2 Price 113.3.3 Promotion 113.3.4 Place 123.3.5 People 123.3.6 Process 133.3.7 Physical Evidence 134. Conclusions 14References 1531. INTRODUCTION"Marketed services (consumer services) - A market transaction by anenterprise of an entrepreneur where the object of the market transaction is otherthan the transfer of ownership (or title, if any) of a tangible commodity."- M. Gabbott, G. HoggThis assignment will focus specifically on the fast-food industry from within theconsumer services area."Fast-food - Serving foods that can be prepared quickly, such as hamburgers,frankfurters and fried chicken."- C. L. Barnhart, R. K. BarnhartThe fast-food industry comprises both tangible and intangible components; for thisreason the product/target market sits...

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