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Marketing Plan: Phase One Paper
McDonalds is one of the world's best-known fast-food restaurants. The management team chose a descriptive Mission and Vision statement and centered their values on the four marketing P's. In the initial phase of the marketing plan, the team has chosen a new product offering called the McVeggie. This phase of the plan will detail the company, the new product, the importance of advertising to the corporation, the SWOTT (strengths, weaknesses, opportunities, threats and trends) and will detail the initial marketing strategy around the framework of the four Ps.
Mission and Vision
Weinstein (2001) describes McDonald's mission and vision as, "McDonald's vision is to be the world's best quick service restaurant experience. Being the best means providing outstanding quality, service, cleanliness and value, so that we make every customer in every restaurant smile." (para 2).
To achieve this mission, McDonald's focuses on three worldwide strategies: first to be the best employer for their employees in each community around the world, second to deliver operational excellence to each customers in each of the company's restaurants, and lastly to achieve enduring profitable growth by expanding the brand and leveraging the strengths of all McDonald's system through innovation and technology." (Weinstein, 2001, p. 1)
Location
Mc Donald's management understands the value of location, location, and location. The restaurants are near schools, colleges, inside malls and shopping centers, in and around airports and inside major supermarkets such as Wal-Mart's. The marketing team at McDonalds assures that services are available at the right place and right quantity.