Marketing Plan for KFC - Doc

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Added on 2021-01-01

Marketing Plan for KFC - Doc

Added on 2021-01-01

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Marketing plan

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3TASK 1 ...........................................................................................................................................3Aspects of marketing audit and these factors summary in SWOT analysis...........................3TASK 2 ...........................................................................................................................................9Develop marketing plan ........................................................................................................9CONCLUSION..............................................................................................................................14REFERENCES..............................................................................................................................15

INTRODUCTIONMarketing is the research and management of exchange relationship. It is the businessprocedure of creating relations with and satisfying consumers. It is the activity associated withpurchasing and selling product and services. It involves advertising, selling and delivering goodsto people. For marketing, companies are created plan which is business document outliningmarketing strategy and tactics. It is frequently directed on particular time period and covervariety of marketing related details such as costs, objectives and action stages. Marketing plancan be part of overall business plan. Effective marketing strategy is the base of well-writtenmarketing plan. The purpose of marketing plan is to set specific way in marketing byorganization.The present study is based on KFC. It stands for Kentucky Fried Chicken. It is anAmerican fast food restaurant chain which offers in fired chicken. Company is the world'ssecond largest restaurant chain after McDonald's. Company also owns Pizza Hut, Taco Bell andWing Street chains. Report will analysis aspects of marketing audit and summarise into SWOTanalysis. It will develop marketing strategy and tactical plan to increase sales over next threeyears by analysing segments and position of products or brand. Furthermore, study will developmarketing plan for selected organization. TASK 1 Aspects of marketing audit and these factors summary in SWOT analysisand marketingstrategies Marketing Audit: Marketing audit means to encompass, systematic, investigation, assessment andinterpretation of business marketing environment both internal and external, objectives,strategies, values to determine areas of problems and chances as well as suggest plan of activitiesto increase marketing performance of organization Zeriti & et.al., (2014). In this context, thereare three factors such as internal, external environment and review of evaluation of marketingplan which is used by KFC. KFC is American fast food restaurant chain in Kentucky. Recently, company operated inthe Malaysia. Also, company is planning the on opening up to 50 franchisee restaurants inFinland in the 2019. as the adopt the mode of entry, company will get ensure to go there. External Environment:

It consists of economic, political and legal factors for focus on clients and competition.Marketing audit of external environment analysis consumers, their wants and way to meet them,behaviour, judgement, perception of goods and brands, segmentation, targeting and positioningon the market Varadarajan, (2015). It also involves demography, technology, economiccondition and different legislation in the business environment. Internal Environment: It focuses on resources of organization such as man, machines, money, minutes andmaterials. Also, it analysis the marketing team caring structure, efficiency, correlation withfunctions inside and other companies. The internal marketing audit is concerned in many areassuch as product portfolio, new goods, pricing and distribution of goods. It also directs on marketshare, sales, profit margin and effectiveness of marketing mix. For that, KFC utilise the SWOTanalysis approach in the marketing of products and services Schmidt, Spann & Zeithammer,(2014). After internal and external marketing audit, KFC needs to evaluate and take review of allfactors such as marketing mix, marketing strategy, current marketing objectives, controlling ofmarketing process, marketing budget as well as marketing team for implementing marketing planin the marketplace. In this context, company needs to summarise these factors by utilizing theSWOT analysis of their business. SWOT analysis Strength: It has the strong global presences with an effective presences and localcustomers base.Weakness: they have supply chain and distribution issues. They are managing thefranchisee in their critical issues. Opportunities: it has opportunities for expanding new geographic and exploring thefood items in their menu. Threats: it has threats from the changing customers food trends and preference and it isdifficult to manage at home. According to ansoff matrix management of KFC can make effective market presentationstrategies for compete their market competitors. By the product development can they can beeffectively play in marketplace with their strength and opportunities. This model help developtheir market presentation by increasing its market share in current marketplace. It can be

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