beyond the 4Ps Ronald E. Goldsmith Professor of Marketing‚ College of Business‚ Florida State University‚ Tallahasee‚ Florida‚ USA Keywords At the heart of most presentations of marketing management lies the time-honored concept of the 4Ps ± product‚ price‚ promotion‚ and place ± the Marketing Mix ± that Abstract summarise key decision responsibilities of Theories of marketing management and strategy need to evolve marketing managers (e.g. McDonald and and change to keep pace with Roberts‚ 1992)
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7P’s Analysis of Burger king Product - It must provide value to a customer but does not have to be tangible at the same time. Basically‚ it involves introducing new products or improvising the existing products. Price - Pricing must be competitive and must entail profit. The pricing strategy can comprise discounts‚ offers and the like. Place - It refers to the place where the customers can buy the product and how the product reaches out to that place. This is done through different channels‚
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Like Father Like Son: Ronald McDonald and Jollibee’s Connection Believe it or not‚ Jollibee might be Ronald McDonald’s long lost son. Their DNA samples would validate that the aforementioned assertion is true—both are tightly fastened to a theory that focuses on consumption. At all times‚ one would always hear after finish ordering in any McDo or Jollibee restaurant the question: “Is that all‚ sir/ma’am?” Although it appears to simply clarify‚ subliminally it entices a customer to order and consume
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Starbucks vs. McDonalds‚ Good to the Last Drop Starbucks‚ the undisputed king of coffee has recently been challenged by another heavyweight competitor in the War over the Morning cup of Joe. McDonalds‚ a powerhouse in the fast-food world has been looking to expand into the specialty coffee business and replicate its burger success into the Java Realm. Both companies are great examples of iconic brands‚ and have had tremendous success and market resilience. It’s no surprise‚ that these two companies
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Case Study 1 – McDonald’s External Analysis (mODULE 2) Industry – global fast-food retailer‚ US based Product segment – burgers‚ French fries‚ nuggets‚ beverages and coffees and cakes in McCafe Current life cycle position in the industry – mature stage TEMPLES Technology (+) – adding technology to make drive-thru‚ ordering and payment processes easier Economic (-) – GFC during 2008-2009 affected US and the rest of the world which led to the declines in consumer wealth and purchasing power‚ and a
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ALL RIGHTS RESERVED. by Patrick Barwise and Seán Meehan As usual‚ marketers are turning hype into hyperventilation. This time‚ it’s about the supposed end of marketing as we know it‚ thanks to the rise of social media and the shift of power to consumers. But it’s wrong to think we’re entering a world in which traditional marketing activities‚ and brands themselves‚ will become irrelevant. In fact‚ the opposite is true. Social media make it more urgent than ever that companies get the basics
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especificaciones de los clientes”; “Respecto a la producción‚ la mayor parte de ella se realiza en Dinamarca‚ pero en el ejercicio 2004/2005‚ una parte del ensamblaje de los equipos se transfirió a la República Checa‚ donde los costes son menores”. • Marketing o Ventas: “Estrategia de crecimiento abriendo establecimientos por todo el mundo”. • Logística externa: “su actividad exportadora”; “Para la distribución de sus productos utiliza distribuidores independientes”. En cuanto a las actividades
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McDonalds & Hindu Culture Presentation of Facts: McDonald’s Corporation of the United States opens 4.2 new McDonald’s restaurants daily and by 2003 had 30‚000 restaurants in 121 countries that collectively served 46 million customers each day. While expanding into new regions‚ McDonald’s entered a new country for expansion‚ India. India offered a large customer base but also a cultural challenge to McDonalds. The local Hindu culture has revered cows for thousands of years and McDonalds is
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specific brand (i.e.‚ Coke‚ Nike‚ McDonalds‚ etc.). Using this brand as an example‚ describe what makes this a unique brand that is easily recognizable by consumers. What do you‚ as a consumer‚ think of when you see this brand logo? How would you describe a Brand? What roles do Brands play in the market and what signals success? (Points : 25) Question 3.3. (TCO H) Marketers recognize that the marketing of services is different than the marketing of a product because of the different
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Table of Contents 1.0 CASE STUDY 1 – MARKETING MANAGER IN TEXTILE COMPANY 1.1 Define and provide an understanding of the marketing concept.....................4 1.2 Explain the various elements of the marketing orientation concept................5 1.3 Identify the micro and macro environmental factors that need to be considered‚ taking into account that the company intends to go for the regional market..........................................................................................
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