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...
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.
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