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Introduction to Marketing - KFC

   

Added on  2020-10-05

15 Pages3531 Words330 Views
INTRODUCTION TO MARKETING

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1Company overview.................................................................................................................1Advertisement aim..................................................................................................................1Marketing plan........................................................................................................................1Marketing theories..................................................................................................................6Creativity in marketing...........................................................................................................8Fast food market in UK..........................................................................................................8Forecasting.............................................................................................................................8Summary.................................................................................................................................9CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................11

INTRODUCTIONMarketing is essential tool that helps business in order to promote its products andservices and raising demand of goods. Present study is based on KFC that is the leading fast foodbrand (Kim, Jun and Lee, 2014). It offers testy burgers, sandwiches, drinks, desserts, breakfastitems to consumers across the world. It has around 20000 outlets in more than 125 countries.Current study will explain advertisement aim of the firm and will prepare marketing plan.Furthermore, marketing theories will be explained with reference to KFC. MAIN BODYCompany overviewKFC (Kentucky fried chicken) is the multinational American fast food firm. Recently firmhas more than 20000 outlets in 125 countries. All its outlets are generating huge profit.International expansion of business has supported enterprise in becoming the leading brand.McDonald’s, Subway are main competitors of KFC. In the year 2017 it has generated 13.52billion revenues and has become the fourth largest food chain business in this industry. Yumbrand is parental firm of KFC and KFC is subsidiary. In the year 2014 it was having 19420numbers of restaurants whereas in 2016 it reached to 20643. In 2017 company has increased itsoutlets ad has reached to 21487 restaurants globally ().Advertisement aimThe main marketing or advertisement objective of KFC is to increase number ofconsumers across the world and become the leading high profit generating firm in fast foodindustry (Martensen, and Mouritsen, 2017). In addition, another advertisement aim is to expandthe business across the world.Marketing planSituational analysesInternal AnalysesSWOT analysis of KFCStrength It has huge global presence.Trustworthy and standard supplier.Strong financial backgroundCompany has product diversification WeaknessHigh calorie foodPoor CSR policies and it is criticised for causing harm to animals and environment1

and differentiation.Hygienic food, clean storesOpportunityIntroducing vegetarian productsGlobalisationHealthy eating perception of consumersThreatchange in government policy regarding food law and regulationlocal fast food supplier can affect the sale by provide same product in low priceEconomic changesExternal/ PESTLE analysis of KFCKFC' s marketing team use PESTLE to get the knowledge of external environment factoron which marketing's success lean on. Environmental scanning has been done with the help ofPESTLE analysis by team (McDonald and Wilson, 2016). Political factor: Currently UK business is effected by BREXIT and recent elections.Due to BREXIT trade relation with other country has been changed. Per capita incomecan be hurt by this. Strict the immigration law, hard foreign direct investment policy andnew barrier have been imposed on UK business organisation. KFC face lack of skilledlabour in organisation apart from it company's store location decision been affectedbecause government change in planning regulation. KFC has to make its strategic andtactical plan with compliance of health and safety law. Economical factor: Customer's disposable income level. Change in tax, interest rate,unemployment rate, education level affect KFC with huge intensity. Customer took fastfood as luxury expense, when UK faced 2008 economic crisis (Philip, 2014). In suchslow economy phase KFC's demand decreases because consumer have low level ofincome, which they used to spend on food outing plan. Increased in tax rate, lower theincome level of consumer and it also higher the tax amount which organization has to payto government on its gross sale, which eventually lower retain earning of Firm. Wheneconomy is happy it supports KFC by increased demand by consumer for fast foodservices (Purvis, 2015).2

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