Foundation for marketing Assignment Example | Topics and Well Written Essays - 2500 words

Foundation for marketing - Assignment Example To the contrary, marketing is a financial investment with the customers being the Return on investment and is also a time investment where you only spend on it after learning well about your market (Grewal & Levy, 2010). In launching of a new product there a number of things that is vital to start with. You need to learn about the products or services chain and who the competitors are. This means you need to take a good market research in the industry which will help you determine whether the idea is viable. It will also help you identify your target market, analyse it and your capabilities. While researching, you could ask direct questions from the consumers or you could take your own research from existing information. Communication is a vital part of marketing as without it customers will just be aware but will actually not buy. You should have a unique selling proposition, unique features and benefits and a marketing message with a great image. You should be daring to be different. When you stand out and do things differently to attract attention and dare to go beyond any other business in your product or service line, you will definitely launch and sell your product or service with an agility y ou never imagined. In Claudio Vignali’s article, ‘McDonald’s: â€Å"think global, act local†-the marketing mix’, the author takes us on a journey of how the McDonald’s restaurants were established and how they came to grow through market mixing. After founding the restaurant in1937, the brothers Richard and Maurice McDonald were later joined by Ray Kroc, a milk-shake salesman giving him exclusive rights in 1954. The success made it rise in worth to become one of the greatest companies in the world’s history. The key to its international success according to the author was the use of franchising. They franchised to