102072145 4Ps 
4Ps Case Study
4Ps (Price, Place, Promotion and Product) model is a useful tool for companies to plan and implement market strategies, after analyzing by 4Ps model, companies would have a better way to plan what or who is their target market, what is their obstacle and what they should do. Here is the simple graph of 4Ps model.
Case – McDonald’s
McDonald’s is world-famous. One of the key reasons is that it has great Market strategy. How can it have such a great plan? In this part we’ll discuss how environment affect its strategy.
The marketing mix is a term used to describe the four main marketing tools (4Ps):
1. Product
2. Price
3. Promotion
4. Place through which products are sold to customers.
Using detailed information about its customers, McDonald's marketing department can determine:
1. What products are well received?
2. What prices consumers are willing to pay?
3. What TV programs, newspapers and advertising consumers read or view?
4. What restaurants are visited?
But how do McDonald’s get detail info about its customers? Therefore, it needs Market research, which is also needed to be done before using 4Ps model. Of course readers can skip this part to see the 4Ps part directly. (at page 5)
Market research and analyzing
Market research is the format which enables McDonald's to identify this key information. Accurate research is essential in creating the right mix to win customer loyalty.
In all its markets McDonald's faces competition from other businesses. Additionally, economic, legal and technological changes, social factors, the retail environment and many other elements affect McDonald's success in the market.
Market research identifies these factors and anticipates how they will affect people's willingness to buy. As the economy and social attitudes change, so do buying patterns. McDonald's needs to identify whether the number of target customers is growing or shrinking and whether their buying habits will change in the future.
Market
4Ps (Price, Place, Promotion and Product) model is a useful tool for companies to plan and implement market strategies, after analyzing by 4Ps model, companies would have a better way to plan what or who is their target market, what is their obstacle and what they should do. Here is the simple graph of 4Ps model.
Case – McDonald’s
McDonald’s is world-famous. One of the key reasons is that it has great Market strategy. How can it have such a great plan? In this part we’ll discuss how environment affect its strategy.
The marketing mix is a term used to describe the four main marketing tools (4Ps):
1. Product
2. Price
3. Promotion
4. Place through which products are sold to customers.
Using detailed information about its customers, McDonald's marketing department can determine:
1. What products are well received?
2. What prices consumers are willing to pay?
3. What TV programs, newspapers and advertising consumers read or view?
4. What restaurants are visited?
But how do McDonald’s get detail info about its customers? Therefore, it needs Market research, which is also needed to be done before using 4Ps model. Of course readers can skip this part to see the 4Ps part directly. (at page 5)
Market research and analyzing
Market research is the format which enables McDonald's to identify this key information. Accurate research is essential in creating the right mix to win customer loyalty.
In all its markets McDonald's faces competition from other businesses. Additionally, economic, legal and technological changes, social factors, the retail environment and many other elements affect McDonald's success in the market.
Market research identifies these factors and anticipates how they will affect people's willingness to buy. As the economy and social attitudes change, so do buying patterns. McDonald's needs to identify whether the number of target customers is growing or shrinking and whether their buying habits will change in the future.
Market