This presentation provides a market audit of KFC, including a brief history, competitors analysis, SWOT analysis, PESTLE analysis, customer analysis, and marketing strategy and objectives.
Contribute Materials
Your contribution can guide someone’s learning journey. Share your
documents today.
Table Of Content Introduction Brief history of companyKFC in Fast Food Industry KFC In UK KFC (UK)Competitors analysis KFC Micro and Macro analysis KFC SWOT Analysis KFC PESTLE Analysis KFC Customer analysis KFC Stakeholders matrix analysis KFC Marketing strategy and Objectives Conclusion
Introduction Market audit can be said to methodical, significant as well as unprejudicedreviewwithappraisalofentiremarketing operations of an entity. The presentation is prepared of KFC whichisfastfoodrestaurantadditiontochainthatis specialised on serving fried chicken. It was established by Harland Sanders in the year 1930.
Brief History of KFC KFC is short form of Kentucky Fried Chickenwhichwassetbyan entrepreneurthatisColonel HarlandSandersinCorbin, Kentucky in 1930 through selling friedchickenfromroadside restaurant.
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
KFC in Fast Food Industry KFC is leading entity in fast food sector doing its business in all areasofglobe.FastFood industryhasundergone variouschanges.The worldwidemarketshareof KFC in Fast food industry is around 9%.
KFC In UK In 1960s, KFC opened its outlet in United Kingdom. At the end of 2013, KFC had around 784 outlets in the country and British turnover of £684.5 Million. The maincompetitorsofKFCinUKare McDonald’s,Greegs,BurgerKing, Nando’sandsoonthatoffersimilar products to audiences that the company offers.
KFC (UK): Competitors analysis In UK, there are large numbers of major players in fast food industry. The key competitors of UK are McDonalds and Burger King. Further, analysis of competitors of the company is as follows: McDonalds:McDonalds is the company that has acquired around 15% market share of UK through offering variants of hamburgers, French fries, soft drinks, desserts and so on at relative lower price. Burger King:UK, Burger King Sales were values at 3.27 Billion British Pound.
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
KFC Micro and Macro analysis Businessenvironmentismade up of two elements that are micro and macro factors. In modern era, various changes are experienced in the micro and macro elements of fast food industry.
KFC SWOT Analysis SWOT analysis is a framework or statistical planning tool that assistsinrecognisingstrengths,opportunities,threatsand weaknesses of the business. The SWOT analysis of KFC is as follows:StrengthsWeaknesses •Strong global presence •Variety in menu •Wide customer base •Franchise Management •Negative publicity OpportunitiesThreats •Expansion in untapped geographies •Launching new products in menu •Competition •Changes in trends and preferences
KFC PESTLE Analysis PESTLE Analysis is a tool that helps in recognising and examining drivers of change in business environment. In case with KFC, the macro environmental factor that impact of its strategy and operation are as analysed: Politicalfactors:Thedimensionmajorlydealswithpolitical systems, regulations of political leaders, government position and policies. Economic factors: The elements that engross information which haspotentialstoinfluenceinvestmentvaluesorbusinessare economic factors.
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Continue… Social factors: Attitudes, beliefs and choices of customers are social factors that impacts drastically on business. Technologicalfactors:Automationandinnovationare technological factors that impacts business worldwide. Legal factors: Political system plays main role in implementing legislations for particular industry. Ecological factors:Various environmental changes are experienced by companies in US that impact their operations in huge manner.
KFC Customer analysis Customer analysis is one of important component of organisational plan on growth or expansion stages. It is also termed as analysing target market. KFC system serves approx 12 million customers each day from at 150 nations together with territories around the world. Managers of KFC analyses customers on the basis of three aspects: Targeted audience Identify customer needs Defines the ways products meets need satisfaction
KFC Stakeholders matrix analysis IncasewithKFC,foursquare stakeholdermatrixisusedto identifypotentialpowersand interest that an individual have in itsproductsorservices. Stakeholdersmatrixanalysisin context to KFC is shown in image.
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
KFC Marketing strategy and Objectives KFC has performed market audit through using various analytical tools. The identified marketing objectives of KFC for marketing plan are as follows: To meet expectations of customers. To maintain reputation of entity in competing market. To achieve the objectives, managers of KFC uses following marketing strategies: Social media marketing Distribution strategy
Conclusion Thepresentationconcludesthatmarketingauditistermedto sequential,investigation,estimationandelucidationofentire businessmarketingenvironment,objectives,strategiesand principlesforascertainingproblematicareasalongwith opportunitiesforenhancingmarketingperformanceofan organisation..Marketingauditisdonethroughusingvarious models that are PESTLE Analysis, competitors analysis, SWOT analysis, Customer analysis and many more.
References Helsen, K., 2018. Sustainable Marketing Strategies: Overview. Lopez, L. D., and Et. Al., 2017. Interference of the cultivation system, UV-C radiation and drying method in the quality of grape by-products flour.Científica (Jaboticabal),45(4), pp.347-354. Palmatier, R. W., Stern, L. W. and El-Ansary, A. I., 2016.Marketing Channel Strategy: An Omni-channel Approach. Routledge.
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser