The External Environment and Its Effect on Strategic Marketing Planning: a Case Study for Mcdonald’s Essay

Words: 8406
Pages: 34
Open Document
J. International Business and Entrepreneurship Development, Vol. 3, Nos. 3/4, 2008 289
111 2 3 4 5 6 7 8 9 1011 1 2 3 4 5 6 7 8 9 2011 1 2 3 4 5 6 7 8 9 30 1 2 3 4 5 6 7 8 9 40 1 2 3 4 5 6 711 8

The external environment and its effect on strategic marketing planning: a case study for McDonald’s Demetris Vrontis*
School of Business, University of Nicosia, 46 Makedonitissas Ave., P.O. Box 24005, 1700 Nicosia, Cyprus Fax: 00357 22 353 722 E-mail: vrontis.d@unic.ac.cy * Corresponding author

Pavlos Pavlou
Department of Management and MIS, School of Business, University of Nicosia, 46 Makedonitissas Ave., P.O. Box 24005, 1700 Nicosia, Cyprus Fax: 00357 22 353 722 E-mail: pavlou.p@unic.ac.cy
Abstract: This case study has been compiled …show more content…
The external environment and its effect on strategic marketing planning
111 2 3 4 5 6 7 8 9 1011 1 2 3 4 5 6 7 8 9 2011 1 2 3 4 5 6 7 8 9 30 1 2 3 4 5 6 7 8 9 40 1 2 3 4 5 6 711 8
Figure 1 The STRATICS PROCESS – marketing planning

291

Source: adapted from Vignali et al. (2003)

Every company, after considering both its internal strengths and weaknesses and the external environmental influences that affect it (opportunities and threats) is in a position to develop an effective marketing plan. Failure to understand the external and internal capabilities may lead to sub-optimisation of the organisation’s strategy and resources invested. Multinational companies must highly consider environmental auditing and the development of the SWOT (strengths, weaknesses, opportunities and threats) analysis. This is vital if they want to capitalise on organisational strengths, minimise any weaknesses, exploit market opportunities as they arise and avoid, as far as possible, any threats.

292
111 2 3 4 5 6 7 8 9 1011 1 2 3 4 5 6 7 8 9 2011 1 2 3 4 5 6 7 8 9 30 1 2 3 4 5 6 7 8 9 40 1 2 3 4 5 6 711 8

D. Vrontis and P. Pavlou

It should be noted that the external environment is very important as it dictates the behaviour of any marketing orientated organisation. Consequently, for the purpose of this case, considerations for the analysis of the external environment are highlighted for McDonald’s.

2

McDonald’s and its
Show More

Related Documents: The External Environment and Its Effect on Strategic Marketing Planning: a Case Study for Mcdonald’s Essay

Essay about Marketing Planning

(HND) in Business Unit Number and Title: Unit 19: Marketing Planning Unit Level: QCF Level 5 (Y/601/1259) Module Tutor: Email: Date Set: 07th April 2014 ______________________________________________________________________________________________________________ Module Specification Aim The aim of this unit is to provide learners with the understanding and skills to develop marketing plans that meet marketing objectives, and meet the needs of the target market…

Words 3355 - Pages 14

The Marketing Strategy Analysis of Starbucks Corporation Essay

Introduction Under today’s ever-changing market, strategic marketing planning has become more and more significant whether of the functional or the fundamental. Especially, although financial crisis leaded economy growth slowdown, it did not cause a serious influence for chain coffee shop. As Howard Schultz said, CEO of Starbucks, “I don't think we had a business plan for the severity of what has taken place. History demonstrated to us that a downturn in the economy would not affect us, and in fact…

Words 4804 - Pages 20

Marketing Strategy and the Contemporary Challenges in Marketing Effectivness: a Case Study Essay

MARKETING STRATEGY AND EVAULATING THE CONTEMPORARY CHALLENGE IN MARKETING EFFECTIVNESS: A case study of Tikur Abay Transport Share Company By: Belay Getachew A senior essay submitted to St. Mary’s University College in partial fulfillment of the requirements for the degree of Management in Distance Education Division July 2009 Addis Ababa Chapter One Introduction 1. Back ground In present competitive world and business environment things would not move…

Words 15889 - Pages 64

The Content of Global Marketing Essay

Fifth Edition GLOBAL MARKETING A DECISION-ORIENTED APPROACH Svend Hollensen _ • CONTENTS Preface Guided tour Acknowledgements Publisher's acknowledgements Abbreviations About the author XVI XXX xxxiv xxxvi xli xliv PARTI THE DECISION WHETHER TO INTERNATIONALIZE 1 Global marketing in the firm Learning objectives 1.1 Introduction to globalization 1.2 The process of developing the global marketing plan 1.3 Comparison of the global marketing and management style of SMEs…

Words 2492 - Pages 10

Essay about Mintzberg 5 Ps of Strategy

The Strategy Concept I: Five Ps for Strategy* Human nature insists on a definition for every concept. The field of strategic management cannot afford to rely on a single definition of strategy, indeed the word has long been used implicitly in different ways even if it has traditionally been defined formally in only one. Explicit recognition of multiple definitions can help practitioners and researchers alike to maneuver through this difficult field. Accordingly, this article presents five definitions…

Words 9158 - Pages 37

Essay on AG 1

persist for generations. Examples are Henry Ford, Ford Motor Company; Alfred P. Sloan, General Motors Corpora­ tion; Walt Disney, Walt Disney Company; George Eastman, Eastman Kodak; and Sam Walton, Wal-Mart. S4 Part One The Management Control Environment Profitability In a business, profitability is usually the most important goal. Profitability is expressed, in the broadest and most conceptually sound sense, by an equation that is the product of two ratios: Revenues - Expenses Revenues " Revenues…

Words 7767 - Pages 32

An Examination of Sales Promotion Programs Essay

Wellington, New Zealand WAH-LEUNG CHEUNG Hong Kong Baptist University, Hong Kong, China JAMES HENRY and JOHN GUTHRIE University of Otago, Dunedin, New Zealand KIM-SHYAN FAM Victoria University of Wellington, Wellington, New Zealand This study gives an insight into the retailer’s capability of managing sales promotion by examining the sales promotion programs offered by Hong Kong cosmetic and toiletry…

Words 5044 - Pages 21

Coca-Cola Business Strategy Essay

Group • Greater Europe Group • Middle East and Far East Group • Africa Group • Minute Maid Group The distribution of Coca-Cola has reach to more than 200 countries around the globe. With such a vast and spread out consumer base, Coca-cola's marketing strategy focuses on getting their consumers to reach for their drinks more regularly as put up by the mantra coined by…

Words 8355 - Pages 34

Business Ethics and Corporate Governance Essay

Corporate Governance: The international journal of business in society Managing legitimacy issues in global supply chains: the case of the athletic footwear industry André Nijhof Dai Forterre Ronald Jeurissen Article information: To cite this document: André Nijhof Dai Forterre Ronald Jeurissen, (2008),"Managing legitimacy issues in global supply chains: the case of the athletic footwear industry", Corporate Governance: The international journal of business in society, Vol. 8 Iss 4 pp. 506 - 517…

Words 7850 - Pages 32

Essay on International Trade and Countries

people and companies interact and communicate with each other. Social networks offer companies an inexpensive, yet highly effective means of reaching their target audiences across the globe. In fact, social networks are rewriting the rules for marketing. Consumers today can quickly and easily get information about products and services from trusted friends via social media and bypass more traditional methods of gathering information. Companies must identify ways to…

Words 6577 - Pages 27