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IMC 104 B. Steele Midterm Questions and answers
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McDonald's Controllable Factors Example - 1) Product- Food 2) Price- New branding is trying to convince you that its okay to pay more 3) Place- How food gets to the restaurants 4) Promotion- Ronald McDonald, sweepstakes, etc. IMC is also known as - relationship marketing, it works to interactiv...

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  • August 10, 2024
  • 7
  • 2024/2025
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IMC 104 B. Steele Midterm
McDonald's Controllable Factors Example - 1) Product- Food

2) Price- New branding is trying to convince you that its okay to pay more

3) Place- How food gets to the restaurants

4) Promotion- Ronald McDonald, sweepstakes, etc.



IMC is also known as - relationship marketing, it works to interactively engage a specific individual,
using a specific message through specific media outlets.



What does it mean when we say "every impression counts"? - every interaction builds the
foundation for every relationship between customers and their loyalty to you (the company).



What are the "Four P's" of marketing? - -Product

-Pricing

-Place

-Promotion



Product - can be tangible or non tangible



Pricing - usually money but can be a trade



Place - (distribution) how a product gets where it is. sold to the ultimate customer



Promotion - advertising, PR, sales promotion, direct marketing, internet marketing, etc.



What is the "essence" or purpose of marketing? - Finding out what customers want and need and
how to provide those things to them through the right combination of products, pricing, distribution,
and promotion.

, Who can be in a relationship of marketing? - BOTH business-to-business and consumers



What are the factors in the marketing environment? (Uncontrollable) - -Competition

-Economic

-Social

-Technology

-Regulatory Laws

-More



Competition - Changing price to compete with other companies



Economic - How the economy is doing, ex: bad market = people are less likely to spend high prices
of Starbucks



Social - trends, fads, ex: healthy eating trend makes it difficult for fast food

What is IMC? - "a combination of PR, sales, advertising, and marketing all wrapped up into one"



Technology - Everyone wants their products online



Regulatory Laws - Restricts companies cause they have to follow certain laws



More - Weather, etc.



McDonald's Rebranding - They are remodeling buildings to move their brand from being a fast-
food restaurant. to a "quick-service" restaurant.



McDonald's Non-controllable Factors - 1) Competition- Wendys -> Panera

2) Economic- poor economy = does better

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