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4p's of Marketing

Essay by   •  December 11, 2011  •  Essay  •  458 Words (2 Pages)  •  2,261 Views

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4P's of Marketing

At this point the marketing mix is employed

* Product:

o Product Variety: These days customers have a lot of options regarding the choice about where and how to spend money. Keeping this in mind, McDonalds' has always kept changing and developing a menu that customers wanted. The market research is done exactly for this reason.

o Quality: McDonalds' has a policy of "think global, act local". McDonalds fetches its raw material from local vendors, but ensures highest quality, in which ever country it goes and opens a store for example in India it gets Sesame seeds from UP, Vegetable Patty from Maharashtra, Lettuce from Dehradun and Buns from Ludhiana.

* Price:

o Credit Terms: There is no credit facility available to the customers. All have to pay upfront even before the order actually comes.

o Discounts: Discounts are available in various forms for example happy meals there are which start at Rs. 80 and goes upto Rs. 125. Happy meal is a kind of basket of various products, which if bought individually would cost more than a happy meal. It also accepts various discount coupons from various vendors like frechange.in.

o Competitive Pricing: The customer's perception of value is an important determinant of the price charged. Customers draw their own mental picture of what a product is worth. Price of McDonalds products have always been lower than its direct competitor, KFC, as it believes in providing value for money meals, and had also run a campaign few years back called "Aap ke zamane main, Baap ke Zamane ke daam". Below is the list of prices of comparable products with KFC.

Food Items McDonalds KFC

Burgers & Pizzas 25 to 225 25 to 209

Combo Meals 80 to 125 65 to 685

Beverages 17 to 80 20 to 80

Desserts 20 to 75 12 to 59

* Promotion

o Advertising: Advertising is conducted on TV, radio, in cinema, online, using poster sites and in the press for example in newspapers and magazines. McDonalds follows what is called "above the line" advertising. TV advertising is done to make people aware of a food item and press advertising provides more detail. This is then supported by in-store promotions to get people to try the product and a collectable promotional device to encourage them to keep on buying the item.

o Sales Promotion: Happy meals are a method deployed by McDonalds for sales promotion. Its price range starts from Rs. 80 and goes upto Rs 125. A customers gets value for his money as if he buys the products individually he would end up buying

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