3 Name 5 Marketing Plan Measures of Performance Increasing competitive

3 name 5 marketing plan measures of performance

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3. Name 5 Marketing Plan Measures of Performance. Increasing competitive intelligence and anticipating competitor reactions to new marketing strategies More accurately assessing company marketing assets such as brand equity and its level of effectiveness among target audiences Building a knowledge base of current and historic data that help drive marketing mix decisions and steer the company through rapidly changing market conditions Measure marketing outcomes from the consumers’ points of view Include all marketing activities 4. What are the 4 components of a PEST analysis? The 4 components of the analysis are: Political, Economic, Social and Technological. 5. Undertake research and prepare a PEST analysis of McDonalds. Political Factors Affecting McDonald’s Business This aspect of the PESTEL/PESTLE analysis refers to the effects of governmental actions and policies on the remote or macro-environment of McDonald’s business and the economy as a whole. Governmental intervention can determine the rate and path of business development. In McDonald’s case, the most significant political external factors in the fast food restaurant chain industry environment are as follows: 1. Increasing international trade agreements (opportunity) 2. Governmental guidelines for diet and health (threat and opportunity) 3. Evolving public health policies (threat and opportunity)
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McDonald’s Corporation has the opportunity to expand its multinational business based on improved international trade, which can enhance global supply chains. This PESTEL/PESTLE analysis also identifies governmental guidelines for diet and health as a threat and an opportunity for the restaurant chain business. For example, this political external factor is a threat because it puts pressure on McDonald’s, which has been the subject of criticism regarding the effects of its products on consumers’ health. Nonetheless, this same external factor creates an opportunity for the company to improve its products. Corresponding changes in McDonald’s generic competitive strategy and intensive growth strategies can address this external factor. In relation, governments have evolving public health policies, which present a threat and an opportunity for the restaurant chain business. For instance, this external factor threatens the company through policies that change public schools’ food programs for students. Still, the business can improve through adjustments to provide more healthful options to consumers. McDonald’s marketing mix or 4P already includes healthful options, such as salads, but the company can add more to improve its status in addressing this political external factor. This aspect of the PESTEL/PESTLE analysis of McDonald’s Corporation shows that political external factors present opportunities despite threats against the business.
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