Choosing the directional strategy: Other promotional strategies utilized by the firm include coupons, exhibits and entertainment to promote its products and increase its sales. In this paper, I will discuss how KFC restaurant has used market segmentation to penetrate various markets in different parts of the world to create value for its products.
The promotion and distribution costs are likely to rise as the firm will be utilizing separate programs in different markets segments.
Every consumer has a personal preference, needs, behaviors and resources. KFC has a distinctive taste of chicken and is keen on developing its markets in different countries around the world.
Market segmentation is used by firms to determine the requirements of the potential customers in a given market segment. The brand is now looking to expand its services in some other countries and introduces new taste in fried chicken to the local customers.
If consumers derive low level of satisfaction from the current market offerings then an excellent market opportunity exists. The consumers are then grouped according to their needs, requirements, and demands among other characteristics.
As like corporate level strategies business level strategies also focus on the overall performance of the organization. However, the company has introduced economy foods whose prices are relatively low to suit the demands and needs of the lower class people.
Identify the product opportunities in market and developing strategies for succeeding in each. On the other hand, the customers also identify themselves with the brand of the company. The segmentation approaches are usually implemented depending on the product positioning of the firm. Initially, the company utilized niche marketing to promote its products to the consumers.
Although setting up KFC requires lot of initial investments, it offers large returns once established. For instance, in Malaysia KFC serves barrel chicken this consists of 21 pieces of chicken. This part of analysis includes all those changes in government policies that could affect the business performance.
All these resources majorly contribute in achieving organizational objectives. As KFC is operating their business activities in so many countries it has to manage the legal obligations of various governments. In this case, they have not created value for their products for people from this class.
The corporate mission defines the primary direction of the organization along with the key fundaments for the base of strategies and objectives. The effective control keep the focus of activities on ultimate goals determines the succession of strategy.
Different advertising and promotional campaign helped in making this big change. The highest level of strategic decision making is occupied by the corporate level strategy. Assignment Prime is an Australian assignment writing service provider which caters for academic writing requirements of students.
The KFC advertisements appear in print as well as broadcast media. It indicates the strengths, weaknesses, opportunities and threats. It is based on the already existing techniques of market segmentation. The company is now spreading its more branches in some other countries and also tapping the new emerging economies of the world for the provision of their food items there.
With the setting up of more branches of the food chain, it wants to enhance its business in some other urban areas, where they can have more clients, to enjoy with the food of this brand. The menu at KFC is offered at affordable prices and they have adopted inventive strategies to compete in different markets.
Corporate level strategies define the long term objectives of the organization and that determines the marketing strategies Jackson, Promotion The advertisement policy of the brand is wonderful and it can bring the customers closer to this brand.
Marketing kfc The next step includes the identification of target market. Income influences the purchasing power of consumers. The firm may experience proliferation of goods in its attempt to serve different market segments.
KFC has demographically segmented its market to cater for the different customers who reside in various cities where it has its outlets.Marketing department is the main and most active department of the Kentucky Fried Chicken it perform all the key activities of the business.
Regular feedback is also given to Departmental Heads to facilitate monitoring of cost at the department level. Segmentation, targeting, positioning in the Marketing strategy of KFC.
KFC (Kentucky Fried chicken) uses demographic segmentation to serve the market as per the customer needs & wants. The consumers of KFC are the young as well as young adults. We present you KFC marketing mix. KFC is one of the best fast food chains with the most amazing menu in chicken dishes.
Please read the article on marketing mix of KFC shows how KFC initially opened its outlets in metros and Tier I. Kentucky Fried Chicken Four P¶s of Marketing mix. Introduction KFC Corporation, or KFC, founded and also known as Kentucky Fried Chicken, is a chain of fast food restaurants based in Louisville, Kentucky.
KFC is a brand and operating segment, called a "concept" of Yum! Brands since when that company was spun off from PepsiCo/5(18). We provide free assignment sample on marketing strategy of KFC for Students.
This case study is written by our experts to help you earn A+ grades. Marketing Mix of KFC analyses the brand/company which covers 4Ps (Product, Price, Place, Promotion). KFC marketing mix explains the business & marketing strategies of the brand.
It also consists of Service Mix (Process, People, Physical Evidence).Download