Understand the individual elements of the extended marketing mix Assignment - 2

Understand the individual elements of the extended marketing mix - Assignment Example th the analysis of the growth of a firms market share about markets collection, products, and enterprises as well as a conclusion making on the basis of resource allocation. McDonalds have increased its market share over the years through innovations. Of recent development include innovation is the introduction of both a vegetarian and a vegan menu in its list of products especially in continents where majority of the population are against certain animal proteins. The product mix in the McDonalds follows BCG marketing matrix and hence enables it stay on course of profitability and sustainability. By using the BCG matrix, it has been able to monitor its products portfolios in terms of product growth, depth and size. Using the BCG model the McDonalds have considered increased promotional campaigns in countries where they are not well known yet. As such, McDonalds have shown high tendencies to allocate much more resources in product marketing and brand building. Product promotion as a marketing mix is widely used by McDonalds. It widely uses television, radio and billboards in their product and service promotion. The organization has carefully used certain slogans that captures and leaves a mark on the consumers minds. Some of these slogans include, "we love to see you smile; Food, Folks, and Fun; Its a good time for the Great Taste of McDonalds; I love it." These promotional strategies have resulted in customers becoming accustomed to going to McDonalds restaurants for there is an assured derivation of utility from their money (Bahaudin, 2007). What might be considered as a "star" or a "cash cow" is carefully examined and evaluated to determine its right position within the BCG matrix in the UAE. To maintain a competitive edge beyond fellow competitors, they keep on innovating and introducing new products to the market that make them relevant to the needs of the customers all the time. This makes them move large volumes of products of high quality that targets all