Free Marketing Dissertations - The Promotion And Selling Of Hamburgers Has Vaulted This Company Into A
The promotion and selling of hamburgers has vaulted this company into a global icon that was fostered by creating a marketing concept that the company utilizes throughout its organizational matrix. McDonalds is a stellar example of a marketing driven company that has forged new ground in its industry classification as a result of successful evaluative and control techniques.
II. Introduction
In business, the scorecard is revenue. It measures the success of management in developing and organizing the enterprise into a coherent operation that effectively and efficiently produces and sells its products. McDonalds is one of the world’s most successful marketing driven companies regardless of whether you personally partake of its menu offerings, the company has managed to build an extremely successful brand franchise with young consumers, as well as segments of the population above thirty. The company recognized that adults have a wide breathe of selections from which to choose, and through marketing and advertising this is communicated to the public.
The four elements identified by Kotler (2003) are the cornerstones of this success:
Financial
The company’s utilization of its fiscal resources provides it with the tools to underwrite advertising and marketing objectives to achieve revenue and profit targets. This aspect, financial, also provides the foundation for administrative as well as planning and support.
Productivity
Through the use of sophisticated computer, management and reporting systems the net results of marketing strategies are evaluated and control is provided as a result of what and how promotional, advertising and marketing measures are employed. The results from the foregoing represent the evaluative stage, which is ongoing.
Annual
A corporation’s success is measured by how it has achieved its revenue and profit forecasts and the methodologies it utilizes to obtain these ends, which is control.
Strategic
All of the foregoing are products of strategic planning, positioning, image and competitive offensive and defensive strategies that employ financial, productivity, annual and strategic in control and evaluation.
The preceding examples are long term components of the company’s marketing strategy that have helped to drive sales making it the world’s largest fast food operator.
III. An Appraisal of Evaluation and Control Methods
Kotler’s (2003) book Marketing Management essentially states that the understanding of what to do and adjusting the processes while in motion, are the key principles of forging a marketing plan into revenue success. Least we forget, no matter how expertly crafted a marketing plan may be, results are not guaranteed.
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