...Defining Marketing Paper Marketing is very essential for a company to succeed; this is how people learn about a product or service. When thinking of marketing the best way to define it is to think of it as a bridge that stretches from the producer to the consumer. Throughout this paper the author will define marketing from two different sources, explain the importance of marketing in organizational success, based on these definitions, and provide at least three examples from the business world to support her explanation. Marketing Definitions Marketing is the management process through which goods and services move from one concept to the consumer (Business Dictionary.com, 2012). As a practice it consists of four different elements, such as the 4P’s. The first P is identification, selection, and development of a product. Secondly is the determination of the price. The third P is the selection of a distribution channel to reach the customers place. Last is development and implementation of a promotional strategy (Business Dictionary.com, 2012). According to the American Marketing Association (2011), “Marketing research is the function that links the consumer, customer, and public to the marketer through information--information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process. Marketing research specifies the information required...
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...Marketing Research Paper August 27, 2014 McDonald's Corporation The very first McDonald's was opened up in 1940. The name of the first McDonald’s, which was located in San Bernardino, CA, was McDonald's Bar-B-Que (Farfan). It was a typical 1940’s drive-in with roller-skating car hops (Mcdonalds.com). Richard "Dick" McDonald and Maurice "Mac" McDonald were the original owners (wm2@doney.net). The menu included 25 items, but simplified it to hamburgers and potato chips in 1948. Their McDonald’s was shut for three months, and in December, 1948 they reopened it as a drive-through restaurant (Mcdonalds.com). In 1949, milkshakes were added to the menu, and French fries replaced the potato chips (Farfan). In 1953, Stanley Meston designed the Golden Arches (Mcdonalds.com). Ray Kroc learned about the first McDonald's in 1954 when he tried to get them to buy a milkshake machine. He became a franchise manager in 1955. He also helped McDonald's open a franchise restaurant for the first time in Des Plaines, Illinois (Farfan). Ray Kroc purchased the interests and right of the McDonald’s name for the price of $2.7 million in 1965 (About McDonalds). McDonald’s has their own school to train employees called Hamburger University (H.U.). The Hamburger University was opened in 1961, located in the Elk Grove Village’s basement in Illinois (Mcdonalds.com). When employees graduate from Hamburger University they receive a Bachelor of Hamburgerology degree (About McDonalds). Their training statement:...
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...Research paper Business Intelligence in the Market By Bryan Bock Dr. Traci O'Neill Business Marketing Montana Tech of The University of Montana December, 13 2012 Abstract Businesses today are working more towards predicting the future, how employees will connect with customers, any way or trend the business can find to improve sales and profit. Business Intelligence is used in the market all around the world in many different areas. Businesses are benefitted from the different types of BI methods all the time. Two of the BI methods that are beneficial are called the Market Basket Analysis (MBA) and the Decision Tree Analysis. These two BI methods are used throughout businesses in areas such as marketing, financing, Real estate, and accounting. Both of these methods help business similarly, but in their own different ways. They are two different types of methods that both help businesses make the best decisions to benefit their company. There are many methods or theories that people come up with to help with a business but these are the few that will be examined in this paper. The goal of the modeling technique market basket analysis is to find different relationships of activities that have been recorded with data through the performance of people. This method can be used on any situation where information can be recorded and identified (Pillai, 2011). The way to improve methods for...
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...UNIVERSITY OF NAIROBI DEPARTMENT OF MECHANICAL AND MANUFACTURING ENGINEERING FME 543 INDUSTRIAL MANAGEMENT TERM PAPER CONTRIBUTIONS OF TAYLOR’S PRINCIPLES OF INDUSTRIAL MANAGEMENT OF TODAYS PRODUCTION MANAGEMENT(TAYLORISM) Name: David Mathaga Reg: F18/23827/2008 CONTENT: 1. Introduction Taylorism: - Definition 2. Overview -General approach -Contributions -Elements 3. Applications -McDonalds -Toyota 4. Conclusion 5. Reference INTRODUCTION: TAYLORISM: Definition: Production efficiency and methodology that breaks every action job or task into small and simple segments which can be easily analyzed and taught. Taylorism, * Aims to achieve maximum job fragmentation to minimize skill requirements and job learning time, * separates execution of work from work-planning, * separates direct labor from indirect labor * replaces rule of thumb productivity estimates with precise measurements, * introduces time and motion study for optimum job performance, cost accounting, tool and work station design, and * makes possible payment-by-result method of wage determination Named after the US industrial engineer Frederick Winslow Taylor (1856-1915), Taylor believed that the industrial management of his day was amateurish, that management could be formulated as an academic discipline, and that the best results would come from the partnership between a trained and qualified...
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...Nicholas David Bowman Michigan State University Online Publication Date: April 26, 2008 Journal of Media Psychology, V 13, No. 2, Spring, 2008 Abstract With the growing popularity of online video games, there have been anecdotal reports suggesting that these games are highly addictive, with some gamers spending in excess of 40 to 50 hours per week playing. Thus, research into the individual characteristics that lead to excessive play is warranted. This paper examines two individual variables – personality and perceptions of media – and explores how they relate to online game play, specifically online game addiction. By presenting a revised metric for online game addiction, this paper explores the relationship between addiction and both personality and perception. Online addiction is presented in this paper as a process addiction with four unique factors: perceived social sanctions, excessive play, uncontrollable play, and displacement. Both personality and perception are found to be significantly associated with online game addiction. These results are interpreted and discussed, and future research direction is suggested. Keywords: online game addiction, Big Five personality traits, media perception, MMOs Perception and Addiction of Online Games as a Function of Personality Traits Computer games as a leisure activity have become an ever-increasing part of many young people’s day-to-day lives (Griffiths & Davis, 2005; Durkin, 2006). More recently, with the rapid...
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...EXECUTIVE SUMMARY "Macroenvironmental forces The larger societal forces that affect the whole microenvironment - demographic, economic, natural, technological, political and cultural forces." - Kotler et al Macroenvironmental forces need to be studied by organisations as they can both provide opportunities and pose threats. The fast-food industry is a consumer service; two organisations that operate in the fast-food industry are McDonald's and Hungry Jack's. McDonald's was chosen because it is the primary operator in this market and holds the greatest market share. Hungry Jack's was chosen because the product they offer is the most similar to McDonald's. I thought it would be interesting to compare marketing strategies of two organisations that offer a fairly similar product. McDonald's is the market leader both in Australia and throughout the world. Hungry Jack's is positioned more as a market follower. Companies use target marketing to tailor for specific markets. There are three components involved in target marketing: market segmentation, market targeting and market positioning. McDonald's primary target markets are seniors, adults and teenagers however the most heavily targeted segment is children. Hungry Jack's also essentially segment their market using demographic variables. The final step in target marketing is developing a marketing mix. These tools are also known as the four P's and in the case of services, the seven P's. They are product, price,...
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...budgets with its Dollar Menu, premium items, and extra value meals. McDonald’s does not differentiate itself in any one category of fast food, with competitors dominating in taste in other categories, but it does stand out for its variety and convenience. Due to the fact that McDonald’s does not provide the best fare in any given category, it has relied heavily on positive advertising and messaging that targets emotions. McDonald’s messaging focuses on building the brand and highlighting the emotion of happiness. This can be seen in commercials and the long-time slogan of “I’m Lovin’ It,” for example. In order to understand what the brand truly means to consumers, our group conducted a number of different types of research. To begin, we conducted qualitative research including interviews and focus groups in order to understand consumers’ brand associations. Next, we created a survey to further understand McDonald’s competitors, strengths, and weaknesses. From this survey we identified a number of key findings. The first is that McDonald’s food is considered to be of very low health...
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...connectivity, increased vehicle ownership and rise in income levels. In a country with more than a billion people, opportunities in India are abound. This has led to a rapid growth of the QSR industry. However, simultaneously, it has also created a canvass that has many failures and carcass. Several outlets have been closed, a large number are struggling, still a large number are just about surviving and lot many of them have not been able to find their feet. There are a lot who are successful, but, more importantly, there is almost a complete absence of national chains. This indicates to the fact that just having a lot of opportunities is not enough. These opportunities need to be harnessed and converted into profitable enterprises. This paper is an attempt to understand the industry, its key success factors. History Restaurants have been around in some form for most of human civilization. But they usually catered to travellers. As far back as ancient Greece and Rome, inns and taverns generally served food to people who had a reason to be away from home. This trend continued until relatively recently. Although taverns and coffee houses were popular places to gather and...
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...Executive Summary Every human being essentially has a solitary purpose in life. We spend hour after hour, day after day in the pursuit of happiness. Somehow we all seem to be laboring under the common delusion that wealth can bring happiness. Yet the past has proven that the joy that money brings is fickle and impermanent. Our individual experiences usually concur with this statement. Assuming that this holds true for the majority of people, employers and employees alike, we have to ask ourselves whether material success is enough? Can a company retain its proficient and conscientious employees by offering them mere monetary incentives? Can human resources be stirred or inspired to achieve for the organization by something as ephemeral as money? The history and present of the business world will answer with a resounding “NO”. In that case, what is the formula, in a system driven by human beings, whose minds are swayed by objects, emotions and thoughts, to create a harmonious organization, which endeavors for excellence together? Pixar appears to be one of the rare organizations whose methods resolve this question. They have managed to attain a global reputation for their employees’ satisfaction and assiduousness. This report delves into some of Pixar’s secrets of creating an environment that is incalculably favorable to innovation. It begins by introducing Pixar to the readers and advances to an analysis of some of the Pixar’s philosophies that have contributed...
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...Standardized and Localized Strategies and the Role of Culture in Marketing and Consumption Delroy A. Jefferson This paper is submitted in partial fulfillment of the requirements for International Marketing Doctorate of Business Administration SMC University Dr. Babu P. George July 26, 2014 Abstract The paper seeks to examine the arguments surrounding the issue of standardization versus localization as it highlights specific advantages and disadvantages of both as obtained from a review of the prevailing literature. It links cultural patterns with consumerism and seeks to outline an effective approach to market research for entry into international markets. There are strong arguments for implementing standardization and localization but the literature seems to suggest that either strategy in its purest form represent polar extremes and most strategies consists of some elements of both whereby a middle ground is found. Appropriately designed market research unearth local appeals and cultural patterns which play a crucial role in informing the international marketer of the best suited marketing strategy. Keywords Multinational Corporation, Global Corporation, Standardization, Localization, Cultural pattern Introduction For several years there has been an interesting ongoing debate on the subject of what is the most suitable marketing strategy to be implemented; that of standardization across national markets as opposed to a strategy which espouses an adaptation...
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...Going Vegetarian Many people believe that vegetarians aren’t able to find meatless items at restaurants. It may seem to be more difficult, but according to the “Vegetarian Times” eight out of ten restaurants in the United States offer vegetarian choices. Although being a vegetarian can be challenging, the benefits outweigh the burdens. Today, there are many healthy, vegetarian choices in restaurants around the world. For example, apples and yogurt can even be found at McDonalds! “Farmer’s Weekly” says that not only is a vegetarian diet healthy but it also helps cut greenhouse gases, conserve water, and conserve land. Today, many people are trying to become eco-friendly and don’t know what they can do to help. Giving up meat is a healthy choice for you, for the animals, and it could even help solve world hunger. Many people, when they think of becoming vegetarian, wonder how they are going to get enough protein and iron in their diet. According the book, The Case for Vegetarianism, people are mistaken in thinking that protein comes from animals. Protein actually comes from plant food, meaning that all animals get protein through the food they eat. When trying to figure out what foods have protein, whole grains, beans, nuts, eggs, and peas are all high in protein, as well as all dairy products. To be the healthiest, one’s diet should include a variety of whole foods. Excess protein actually puts stress on the liver and kidney and is also linked with calcium...
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...non-native invasive species have been documented on park lands * More than 650 invasive species have been found in marine parks c) Number of full text results Invasive species include all taxa of organisms, ranging from microscopic insects to 100 lb sheep. d) 70% of documented invasive species on park lands are invasive plant species around 5% of park lands are dominated by invasive plants. 2) Texas Today: A Sea of the Wrong Grasses “I In the ’60s when I bought this place and moved Here from Houston, we had so many quail that You didn’t even need a bird dog to find them,” Mused my 85-year-old hill country neighbour. “Then,” he Paused, his satirical glance drifting toward the mantle to A dust-covered 20-gauge double-barrelled shotgun and a Faded John Cowan Print of a quail hunt on a shin oak Mountaintop of the Texas hill country, “by the early ’80s, The quail were gone.” “Well,” I interjected in a smug biologist’s refrain, “what Changed?” “Hell, I don’t know, but just before that time everybody Planted all the maize fields to coastal (Bermuda grass), and That damn KR bluestem came in from the highway when They redid it.” “I’ll bet that’s part of it,” added the old man. What ran through agronomist Nick Diaz’s mind on a Hot, dry Gulf Coast summer day in 1939, when he first laid Eyes on the maroon, glistening seed heads of Dichanthium annulatum growing in a King Ranch pasture, was prob - ably a lot different than what...
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...framework that guide organizations in improving their performance. Customer focus is important since organizations usually depend on customers to understand future and current customer needs in meeting customer requirement. It constitutes a major principle utilized by the management in striving to exceed their customers’ expectations. Management principles help in enhancing effectiveness of organizational resources as far as customer satisfaction, corporate goals, and management as a whole is concerned. To assist inform research related to management principles especially, a review on literature is integral. This literature review will primarily focus the postulation that Taylorism as a fundamental system premeditated to make best use of management control over employees. This paper will examine how this position has been in use to-date. However, recent systems of management are focusing especially on promoting and empowering employee initiatives. This paper will seek to examine what management professionals and consultants have come to consider as significant management principles. This will provide a conceptual framework in the examination of the key...
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...INTRODUCTION The reason how McDonalds Restaurant became a well-established brand around the world began with the series of strategies they used throughout the years in building its success. From the beginning there was only a local food stand more like the food trucks on the streets now to becoming the multi-billion corporation with over a billion employees. The way McDonalds is able to penetrate through different markets around the world is very amazing because they may be the only fast food brand that could be found around the world with the possibility of finding one just at a corner near you. The brand is well known around the world yet they may only know the name and that it is a fast food restaurant. Yet different countries or cities may have discrepancies in menu engineering where the company accommodates to the food preferences of the people or the culture of the regions. As many may know, operating a hospitality establishment requires much effort to maintain and operate while the failure rate of restaurants are statistically calculated to be quite high. As discussed by the “RestaurantOwners” website, “Within a 90 percent confidence interval, CRG found that the first year failure rate for startups averaged 23 percent over four years in that market. Based on the study, you could say that there is a one in four chance a new startup will fail.” Nonetheless all company may have there ups and downs while the McDonalds Restaurants brand reign in the fast food market for...
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...Vietnam 9 2.3 SWOT analysis of HCM city 11 2.4 Expansion strategy 12 2.5 Franchising in Vietnam 13 2.6 Drive-thru restaurants 13 2.7 Localization strategy 13 3.0 Competition & challenges 14 3.1 Recommendations 15 3.2 Conclusion 15 Exhibit I 16 Exhibit II 18 Exhibit III 29 References 32 McDonald Enters Vietnam Abstract This paper analyzes the globalization options for McDonald’s by going into Vietnam. The paper explores McDonald’s global strategy as well as its expansion strategy. Aside from the globalization evaluation, this study also examines the entry mode in Vietnam. In the concluding sections, I was able to outline the challenges and recommendations for McDonald’s. Key words: globalization, strategy, fast food, expansion 1.0 Introduction McDonald’s Corporation is the world’s largest hamburger fast food chains which serves up to 64 million customers daily. McDonald’s annual report in 2007 revealed that it served one billion more customers globally in the previous year because of its reasonably priced menus such as Ein Mal Eins in Germany, the value Menu in China and the Dollar Menu in the US. These menus normally included up to 10 items with desserts, side dishes, entrees and drinks which could be mixed by customers to make a meal or a fast snack. According to McDonald’s 2010...
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