logo

KFC Market Segmentation pdf

   

Added on  2019-12-28

11 Pages4481 Words1678 Views
Marketing Principles1
KFC Market Segmentation pdf_1
TABLE OF CONTENTSINTRODUCTION................................................................................................................................3TASK 1.................................................................................................................................................3Explanation of the various elements of the marketing process of KFC..........................................3Evaluation of the benefits and costs of a marketing orientation for KFC.......................................3Identification and analysis of Macro and Micro environment of KFC............................................4Proposition of the segmentation, targeting and position of Kids' Burger Meal of KFC..................5Discussion of the buying behaviour affects marketing activities in different buying situations.....6Explanation of the products and services which developed to sustain competitive advantage.......6Explanation of the distribution of KFC which is arranged to provide customer convenience........6Explanation of a pricing strategy of KFC as per marketing conditions...........................................7Planing and recommendation of marketing mixes along with additional elements for the two different segments............................................................................................................................7Discussion of promotional activity should be integrated to achieve marketing objectives.............8CONCLUSION....................................................................................................................................8REFERENCES...................................................................................................................................102
KFC Market Segmentation pdf_2
INTRODUCTION Marketing principles is defined as the process of formulating company's strategies and plansfor achieving future goals in order to fulfil consumer’s needs and requirements. These are based on4P's which are classified as price, product, promotion and place. Kentucky Fried Chicken (KFC) is afast food restaurant chain that specializes in fried chicken. The company has 785 outlets in the UnitedKingdom (KFC, 2015). In this research, the report covers KFC's marketing elements and its process byanalysing its micro and macro environment through segmentation, targeting and positioning of the foodproducts by various market mix strategies of the products according to the consumers' tastes,preferences and lifestyles. TASK 1Explanation of the various elements of the marketing process of KFCMarketing process is based on activities of product design, strategies, pricing, promotionalactivities etc. (Henley and et.at., 2011). Various elements of marketing process in the context of KFCare: Examine the market and environment: To introduce any company or product to the customer,market research is to be conducted. Likewise, complete analysis of the market should be done.To examine the market and environment of KFC, analysis can be conducted through variousmarketing tools.Capturing the market: To achieve the strategic goals, company should focus on marketing planto achieve their targets. KFC has definite market share in the UK and now the main target is toexpand its business globally (Pahl and Richter, 2009). Developing market strategies: Every business has some marketing objectives like profitmaximization, enhancing their brand image, etc. KFC has some marketing strategies toaccomplish marketing goals which assist them in expanding its business in UK market. Enhancing the Marketing mix: The marketing mix is an important tool for marketers tomarket their products and to sell them to the desired customers. In context to KFC, each aspectof marketing mix should be contented by the customers. Evaluation of the benefits and costs of a marketing orientation for KFCMarketing orientation is defined as the products and services which are designed in such amanner that they can meet the requirements of the customers through production orientation. KFCmarketing orientation is all about unique combination of various marketing tactics and strategy whichfulfil the operational opportunities of company through fulfilling customer’s needs. The benefits of3
KFC Market Segmentation pdf_3
marketing orientation of KFC will increase the profitability level of the organization. By achieving thebenefits, customer loyalty level will rise and long lasting customer’s relationships for the businessenterprise will be established. The marketing approach can get competitive advantages by which thefirm can achieve long term goals and objectives (Dooley and et.at., 2012). It forces the customers tokeep abreast from their competitors' new food which shows that its marketing has a greater influenceon the strategic planning. The cost of marketing orientation of KFC includes cost for regular researchesand analysis. If the company sets the marketing focus structure for the food products, then it alsocomes under the cost of company. The other costs which are needed for the market orientation areproduct development cost and promotional activities cost for advertising and other media. Identification and analysis of Macro and Micro environment of KFCMacro environment of KFC can be evaluated through PESTEL analysis and they are as follows:Political: There are no political factors which restricts consumer from purchasing KFCproducts. Political factors have no direct impact on KFC business in UK.Economic: The credit crunch and slow down of economic growth of UK does effectconsumer’s buying power and KFC businesses (Cockburn and et.al., 2014). The company maybe positively impacted if the reduction in the interest rates helps the consumer to spend more. Social: KFC business may be affected by health reasons such as fat and obesity which willinfluence the sugar, fat, nutrition and ingredient content of its product and ultimately theformulation and taste.Technological: The internet has also brought consumers closer to companies such as KFC, whonow have faster feedback from consumers about their products (Jobber and Ellis-Chadwick,2012). These have both positive and negative impact to the working of KFC.Environmental: KFC practices zero discharge to the environment which increases company'smanufacturing costs. The firm also uses bio-degradable packaging material which is arequirement as per the restriction of EU.Legal: The use of artificial colours considers increasing hyperactivity in children which hasforced KFC to find alternatives at higher costs. Whilst this is good for society but it hasnegative impact to KFC businesses. Micro environment of KFC can be analysed through SWOT analysis and they are asfollows:StrengthsPopular brand name.Good advertising andmarketing.Strong trademarks recipe.WeaknessesIt is highly depended on fastfood market.Franchise management globally.4
KFC Market Segmentation pdf_4

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Research Report On McDonald's Marketing Elements
|17
|5812
|39

Marketing Essentials Assignment Solved - KFC
|10
|2283
|363

Marketing Essentials: KFC vs McDonald's
|13
|3368
|338

Strategic Marketing for KFC
|15
|3779
|93

Report on Marketing Management of KFC New Zealand
|19
|5679
|150

Report On Marketing Plan Of McDonald's
|12
|3843
|58