Strategic Marketing Plan for KFC

Strategic Marketing
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Contents
Introduction......................................................................................................................................3
Market Analysis...............................................................................................................................3
a) Market Size..............................................................................................................................3
b) Competitors Analysis..............................................................................................................4
c) Macro & Micro Environment Analysis...................................................................................4
d) Customer Analysis..................................................................................................................6
e) Stakeholder Analysis...............................................................................................................6
Key strategic marketing objectives..................................................................................................7
Marketing Campaign Strategy.........................................................................................................7
a) Strategic Goal of the campaign...............................................................................................7
b) Market Opportunity.................................................................................................................7
c) Target Audience......................................................................................................................8
d) General Campaign Messaging.................................................................................................8
Tactics for strategy implementation................................................................................................8
a) Marketing Mix.........................................................................................................................8
b) RACE Model...........................................................................................................................9
Marketing roll-out plan....................................................................................................................9
a) Channels to be used.................................................................................................................9
b) Timeline.................................................................................................................................10
c) Gantt Chart............................................................................................................................10
Marketing Budget..........................................................................................................................10
Key Performance Indicators..........................................................................................................11
Conclusion.....................................................................................................................................11
Recommendations..........................................................................................................................12
References......................................................................................................................................13
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Introduction
Strategic Marketing can be termed as a method by which a business organisation
distinguishes itself from the competitors by concentrating on the strengths in order to provide a
better quality of service and product value to the customers (Wilson and Gilligan, 2012).
Kentucky Fried Chicken or KFC is a chain of American fast food restaurants which was founded
in the year 1930 by Colonel Sanders with headquarters of the company located at Louisville,
Kentucky, United States (Dana, 1999). KFC operates in more than 150 countries and specialises
in fried chicken. In the following project report, a strategic marketing plan is being prepared for
KFC after considering the external and internal environment and its influence on the company to
identify the trends in industry and opportunities and threats which can be considered for
improving the sales and competitive position of KFC in fast food industry.
Market Analysis
a) Market Size
Fast Food industry has witnessed an exponential growth in the past few years with more
and more companies and firms entering the market with unique propositions. KFC is one of the
biggest fast food restaurant chain in the industry and has more than 24,000 stores all over the
world. McDonald’s is one of the biggest competitor of KFC and has a market share of
approximately 19% whereas the market share of KFC all over the world stands at approximately
9%. Revenue generated by the company in the year 2019 stood at approximately $2.49 Billion
Dollars which shows the vast operations and revenue generation ability of the fast food
restaurant giant (Annual Reports, 2019).
(Source: https://www.statista.com/statistics/256793/kfc-restaurants-worldwide-by-geographic-
region/)
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b) Competitors Analysis
(Source: https://www.owler.com/company/kfc)
High attractiveness of the fast food industry is primarily responsible for the extent of stiff
competition which exists within the industry at the global level. KFC also faces stiff competition
from many other fast food restaurant such as McDonald’s, Burger King, Subway, Domino’s,
Taco Bell, Wendy’s etcetera. McDonald’s is one of the biggest competitors of KFC and is
offering similar products such as Chicken Burger, Veg Burger, Rice Bowls and beverages.
Revenue generated by McDonald’s is 789% of the revenue generated by KFC. Burger King also
gives direct competition to KFC by offering similar food products and generated a revenue of
$1.3 Billion in the year 2019 (KFC's Competitors, Revenue, Number of Employees, Funding and
Acquisitions, 2019). Hence, the industry in which KFC operates faces stiff competition from
other rival firms.
c) Macro & Micro Environment Analysis
PESTLE Analysis of KFC:
PESTLE Analysis is a tool which is used to determine the impact and influence of the
factors which exist outside the organisation on the managerial decision-making and identify
external business opportunities and threats (Perera, 2017). Here is a PESTLE Analysis of KFC:
Political Factors: Political stability or instability affect the business decisions and
operations of the KFC. For example, Brexit has affected the operations of the company in United
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