KFC Marketing Plan and Analysis

The provided document is a detailed analysis of KFC's marketing strategy. It involves evaluating the 7Ps marketing mix process to develop a basic marketing plan for the organization. The document also includes various factors such as market share analysis, asset turnover ratio, revenue (sales)/net assets, and cost-profitability analysis. Additionally, it presents a conclusion that in order to develop a basic marketing plan, the organization must evaluate the 7Ps marketing mix process in a proper manner with the help of all the factors of it.

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Unit: 2
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Marketing Essentials
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Table of Contents
Task1: Written report..................................................................................................................................4
Introduction................................................................................................................................................4
LO1- Explanation of role of marketing of KFC and interrelating process with other functional units..........4
P1: key roles and responsibilities of the marketing function of KFC........................................................4
P2: explanation of how roles and different responsibilities of marketing can relate to the wider
organizational context like KFC...............................................................................................................5
LO2 Compare ways in which organization like KFC can use elements of the marketing mix (7Ps) to
achieve overall business objectives.............................................................................................................8
P3: Comparing the different ways in which different organizations along with KFC can apply the
marketing mix to the marketing planning process for achieving business objectives.............................8
Conclusion.................................................................................................................................................10
Task 2: presentation..................................................................................................................................10
Introduction..............................................................................................................................................10
LO3: Develop and evaluate a basic marketing plan...................................................................................10
P4: Produce and evaluate a basic marketing plan for KFC.....................................................................10
Conclusion.................................................................................................................................................12
References ................................................................................................................................................13
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Task1: Written report
Introduction
Marketing essential or marketing plan is one of the essentials as well as a crucial tool for the
different business organizations. KFC that is also known as Kentucky Fried Chicken, is an
American based organization. KFC has been located almost 20,000 locations globally, in the last
year the annual revenue was £5,000,000. This current report mainly focuses on the marketing
plan strategy of KFC that also included the several important roles and responsibilities of the
marketing function of KFC (kfc.co.in, 2018). On the other hand, it also compares the unmatched
ways of application that is also associated with marketing mix in the KFC organization in order
to gain organizational objectives and goals.
LO1- Explanation of role of marketing of KFC and interrelating process with
other functional units
P1: key roles and responsibilities of the marketing function of KFC
Marketing function can be described as one of the major roles of the business organization like
KFC that also helps them to identify as well as measure the source potentially successful
products (Chan, 2015). Being a fast food restaurant chain the marketing strategy plan of KFC is
different and unique. There are different key roles and responsibilities of KFC in their marketing
function. According to Brassington and Pettitt (2012), the roles and responsibilities of KFC
mainly includes marketing research, product development process, product plan, sales, finance,
promotion and customer service. Furthermore, the marketing functions of KFC have the crucial
role in the business organization. In the same way, there is a very close link of KFC in between
marketing functions along with different organizational functions in the organization (Chan,
2015).
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Figure 1: key roles and responsibilities of KFC
(Source: De Mooij, 2018)
P2: explanation of how roles and different responsibilities of marketing can relate to the
wider organizational context like KFC
The roles and responsibilities of KFC is associated with the different factors such as market
research, product development stage, finance, communication as well as distribution process
along with planning, promotion, selling. In addition, in order to implement the key roles and
responsibilities of KFC in their organization the organization at first needs to begin with the
market research strategy. With the market research strategy process, the organization would be
able to know their competitor’s business strategy as well as they should be able to set up their
business in different places. For evaluating the key roles and different responsibilities, factors the
organization needs to choose their target audience (Groucutt and Hopkins, 2015). Therefore,
after doing a customer-based survey it has been seen that as a target audience the organization
has chosen very young aged people. In the context, if the organization needs to evaluate
marketing related roles and responsibilities to the wider organizational context then they require
a full support of financial department of KFC. Different promotion strategy’s need to be applied
by them to attract their customers toward their food. The finance department of KFC must
provide an accurate budget to the marketing department for implementing and planning of the
marketing plan. Moreover, the key roles and responsibilities of KFC also associated with some
different factors and these are social marketing strategy, selling concept, production concept and
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product concept. Social marketing strategy can help this organization to promote their brand in
different social sites with eye attractive images in order to welcome new customers (Harrington
et al. 2017).
The major roles and responsibilities of marketing in the context of marketing environment of
KFC are explained below:
The market management process of KFC is already described as the process of planning as well
as execution of several different concepts of marketing. These marketing concepts of KFC
mainly involve pricing strategy, promotion, sales and distribution that mainly compliment the
target audience of the organization.
Marketing strategies: The initial stage in order to implement development process of roles and
responsibilities in the context of marketing environment of KFC is marketing strategy. With the
help of a marketing strategy, the organization needs to recognize their target audience and also
provide them their products and services in a correct manner (Jobber and Chadwick, 2012)
Information system of marketing of KFC: The MIS or marketing information system can help
KFC to get different information regarding several factors like product, implementation,
planning and controlling of market strategies.
Marketing environment-monitoring process of KFC: The monitoring procedure have an
essential role in the recognizable proof of new improvements in the marketing environment of
KFC, these advancements give useful reaction to the advancement of item and administrations of
the organization like KFC (Kotler and Armstrong, 2013).
Marketing research process: Marketing research process of KFC mainly highlighted as a vital
role of marketing. This research will help the organization to involve specific knowledge of the
product as well as the selling method of the products to the customers.
Market segmentation: In the current era, in order to implement the market segmentation process
of KFC it has been seen that the organization mainly wants an accurate segmentation that is
actually provided by the marketing management team.
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Brand Equity: The brand equity structure of this organization needs to be developed by the
management team for managing the product quality of different foods and maintain the service
quality. The brand equity process can help KFC to increase their sales value.
Marketing functions of KFC mainly encloses several functions like advertising process, finance,
distribution system and so on. These all are the different activities that mainly come under the
several marketing process. The key elements of marketing functions are as follows:
Research: In the research process of KFC marketing plan the organization needs to
communicate with their internal as well as external stakeholders in a appropriate way. The
research strategy of KFC mainly plays a crucial role. In this process, the organization needs to
choose their raw materials and needs to communicate with their finance team to measure the
budgetary process for making any KFC food items.
Strategy: After collecting all the information and data from the research strategy it can be said
that, the organization needs to evaluate their product development strategy among all the
employees of the organization. The product development strategies of KFC mainly help them to
get different valuable guidance in order to compete with the very strong as well as succeed in the
different market environments.
Planning: After effective completion of research and system strategies of KFC, some strategies
of planning process have been evaluated (Kotler and Pfoertsch, 2010). The showcasing division
includes monetary arranging, determining of offers figures, dispersion, correspondence and
different components of business of KFC.
Tactics: In the tactics process of KFC, it has been seen that a single day of every week the
management team mainly gives different offers for their customers on their food items. This can
be one of the vital tactics of the organization to develop their market plan and increase the sales
revenue accordingly. The promoting capacities require financial assets for the execution,
arranging, research and assessment of displaying techniques and arranging among business
association, it is given by the finance branch of the organization (McDonald and Wilson, 2011).
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LO2 Compare ways in which organization like KFC can use elements of the
marketing mix (7Ps) to achieve overall business objectives
P3: Comparing the different ways in which different organizations along with KFC can
apply the marketing mix to the marketing planning process for achieving business
objectives
The marketing mix is associated in the marketing planning philosophy of KFC in order to
achieve different organizational goals and objective. The business affiliation of KFC utilizes
differing procedures for the utilization of marketing mix among their organization. Generally, it
is based over the market economics, services as well as product development structure and
organizations, market size and companions' size. The marketing mix process structure of KFC is
the essential tool that will help KFC organization management team to understand the product
strategy. The fundamental application of marketing mix incorporates 4 P's of marketing which
incorporate thing, cost, place and progression. This system was later extended to 7 P's of
marketing with place, progression, and physical verification, product, price (Wang and Cai,
2017).
In addition, KFC is a very large food restaurant chain that has been established over 20,000
places in all over the world. With the help of implementing the marketing mix procedure over
this organization, they will be able to develop their market plan in an appropriate way. On the
other hand, it can be said that the sole reason behind the major success of KFC is the proper
understanding of consumers as well as market via marketing essential tools along with
establishing the organizational identified goals and different strategies with the help of customer
satisfaction approach. The use of marketing mix in a marketing planning process is focused over
the product estimations, place of offering the products, evaluating price structure and constrained
time activities of the association (Zhao and Zhu, 2018).
The business associations like KFC with their different organizational culture mainly applied in
order to accomplish their individual business goals. The little and fruitful organization, for
example, KFC use 7P's of marketing mix process in their marketing planning in order to achieve
as well as develop the organizational objectives. On the other hand, for example, different
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organizations of UK, which is a contemporary to KFC, use a marketing segmentation procedure
to accomplish their hierarchical objectives (Zhao and Zhu, 2018).
KFC has utilized the extended marketing mix process in their organization in order to achieve all
the organizational goals and objectives and these are:
McDonald's is the competitor of KFC and the comparison among these two companies has done
on the basis of 7 P's of marketing mix. The appropriate comparison is described as under:
Basis KFC McDonald's
Product All the products or the items should
be proper to the customers’ needs and
requests. The fundamental target of
the product is to fulfill the client’s
needs. KFC’s original product is
pressure fried chicken pieces,
seasoned with Sanders’ recipe of 11
herbs and spices. The company is also
offers veg or non-veg burger, fries
etc.
McDonald's has wide range of food
products and it deals in both veg and
non veg items like wise French fries,
Cheese burger, chicken Mc nuggets,
hamburgers etc. they are mainly
concerned on improvising their quality
of products in respect to creating
brand awareness among public.
Price The cost of the item and services of
KFC must give a value for money
experience to the customer. This is an
pressing technique, which must be
represented according to the
consumers perspective toward the
food products.
The potential motive of the firm is to
attaining higher competitive edge
through grabbing the attention of more
customers before their rivals.
McDonald's is charging less prices for
their products as making things
affordable for people from different
class or economic standard.
Place The accessibility of the product and
different locations of the organization
The company is widely concern on
fulfilling the desires of people at
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must be less demanding for the buyer.
Therefore, it can be said that in order
to develop the marketing plan of KFC
the organization needs to chose
appropriate places for setting up their
outlets and communicate with the
customers (Zhao and Zhu, 2018).
global level this they already have
made their presence in over 121
countries in which company conduct
their operations by its 40000 outlets.
They had adopted aggressive strategy
for market expansion within ruler as
well as urban areas. They are basically
establish their outlets in the city area
of a region or country as to enhancing
its revenue or sales within the
commercial center.
Promotion The promotion procedure of KFC
incorporates advertising, deals
advancement, internet based or social
media promotion and so on. KFC is a
B2C organization which is engaged
over personal selling along with the
advertising as well as sales
promotions.
This considered as the key aspect of
marketing mix as customers attention
is the primary concern of each
business firm. For gaining attention of
more and more customers McDonald's
adopt multiple marketing strategies
such as personal selling,
advertisement, sales promotion and
public relation and so on. in order to
promoting their brand image.
People The general population includes
administration; representatives,
hierarchical culture and client
administration of KFC are
fundamental part of association.
The major targeted area of
McDonald's is kids and teenagers as
people from these group are very
much attracted towards fast food,
Thus this create value for the firm in
attaining higher growth and success.
Process The procedure incorporates the
different services of the organization;
Workers facility of McDonald's is
based on hygienic theme and the
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it speaks to how the product
development services are expended.
On the other hand, KFC mainly
delivers their food products to their
customers with a smile to develop the
buying experience for the customer
(Kotler and Armstrong, 2013).
management of the firm is concern on
displaying the model of quality
services and products in respect to
retain customers for long run.
Physical
Evidence
It incorporates the facilities, comfort,
and user interface with run down in
the organization.
McDonald's has cover more than thirty
location around the world and the
company has around three lack
employees who contributes their vast
efforts in fulfilling the changing needs
and demand of customers in different
regions and countries.
Conclusion
From the above report, it can be concluded that in order to develop the marketing plan the
organization needs to evaluate all the factors of marketing plan. The marketing plan of an
organization is involved with understating of several market places, demands of consumer,
different driven market strategy as well as provide quality products among the consumers. KFC
with their different organizational culture mainly applied in their organization to accomplish
their individual business goals. On the other hand, it can be said that the solitary reason behind
the major success of KFC is the proper understanding of consumers needs and requirments.
Task 2: presentation
Introduction
The major aim of this presentation is to highlight the different factors in order to develop as well
as evaluate a basic marketing plan with the help of 7Ps marketing mix plan. This presentation
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also sheds light on the coherent evidence-based marketing plan for KFC. Strategic marketing
plan will help the organization to achieve their business goals and objectives.
LO3: Develop and evaluate a basic marketing plan
P4: Produce and evaluate a basic marketing plan for KFC
The basic marketing plan for KFC can be developed with the help of following significant tasks:
The KFC organization needs to develop a clear understanding process of the potential customers
and communicate with them in a suitable way. Being a large organization KFC needs to take a
clear and positive research in the market as well as the organization should understand the main
objective of the organization’s different products and services. All the products of KFC must
deliver according to the customer’s needs in order to sustain in the market. On the other hand,
for KFC recognizing the target consumers that are young aged people are the essential things in
the market planning process of KFC after evaluating the research strategy.
Marketing plan is an essential aspect that plays vast role for an organizations operations
management and it is necessary for each business organization to develop a marketing plan in
respect to effective implementation of organizational operations and activities. Marketing plan is
also effective in making employees familiar with the vision, mission, strength, weaknesses etc.
of the company. The marketing plan of KFC is discussed as under:
Executive Summary: KFC is known as Kentucky Fried Chicken, it is an American fast food
restaurant chain that is majorly specializes in fried chicken. It is the worlds second largest
restaurant chain and the company covers 20,000 locations world wide in around 123 countries
and territories. The major motive of the firm is to become a global brand in respect to attaining
higher growth and success within the commercial center.
Vision of the Company: The vision of the firm is To be the most leading integrated food services
group in the ASEAN region delivering consistent quality products and excellent customer-
focused service.
Mission Statement of KFC: The major mission of the firm is “To sell food in a fast, friendly
environment that appeals to pride conscious, health minded consumers”.
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Financial Projection of KFC:
Marketing budget
Particulars 1st year 2nd year 3rd year 4th year 5th year
Initial money 60000 130000 172000 160000 40000
Investment 39500 35000 30000 15300
Total 60000 90500 137000 130000 24700
Marketing
expenditures
Advertisement 8000 9000 6000 6000 5000
sales promotion 3000 1500 3000 2000 7000
Direct marketing 7000 4000 6000 9000 4000
Total 18000 14500 15000 17000 16000
Available balance 42000 76000 122000 113000 8700
STP of KFC:
Segmentation: Market segmentation is considered as the process of categorizing the total market
for goods and services into different smaller groups. KFC is launching a new product, which is a
chicken subs with high taste. The market segmentation for this products are the people from high
and middle class and having major focus on kinds and teenagers.
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Targeting: It comer after market segmentation, thus in this organizations has to decide which
one and will be the major targeted area of the firm. IT refers as the group of customers for whom
a seller designs a specific marketing mix. KFC is majorly targeted to kids and teenagers, as
people from this age group are willing to have new fast food items.
Positioning: It considered as the process by which marketers try to generate an effective image
of the firm or its offerings in the mind set of targeted buyers. The company has its own goodwill
so they launch the new chicken subs within its world wide outlets in respect to gaining more
attention of customers.
The marketing mix is an essential group of intended variables that mainly includes 7Ps in order
to satisfy the target customers over the different contemporaries of KFC also in different
organizations. The coherent marketing plan of KFC using 7Ps of marketing mix is as follows
Product: All the products of KFC are associated with full of quality. The organization mainly
gives different hygienic products to their customers like chicken burgers, wraps, flaming crunch
chicken, chicken nuggets, rice bowl and so on.
Promotion: KFC does different promotional activities by offering to their customers add-ons to
the several existing menu, gifts coupons, balloons, kids’ meal as well as t-shirt. Online
advertising, social media promotion also displaying the products to the organization’s LCD is
the promotion strategy of KFC.
Price: The price strategy is very good for the KFC. According to the price, strategy of KFC it
can be said that higher class people to medium class people all will get the chance to buy
different KFC products at a cheaper rate.
Place: It has more than 300 outlets across over 81 cities. The organization is also planning to
have over 500 outlets by the end of 2018. It has also over taken pizza Hut.
People: people involved in giving services to the customers. All the staffs are working in the
outlets as well as trained by the company itself.
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Process: process mainly starts when the customers usually visit the outlet. Food servicing
process is the part of this process strategy. Greater customer satisfaction is the major process of
KFC.
Physical environment: physical environment process of KFC mainly helps this organization to
create positive influence on the customer satisfaction. In addition, there is use of different good
technology equipment.
Monitoring and control:
In large as well as small business organizations, mangers are concerned on analyzing and
evaluating plans and strategies in respect to enhancing working ability or efficiency within the
work place. This create value in achieving desired goals and objectives of firm in effective and
well planned manner.
Sales analysis: It involves the determination of sales volume, which is basically attained
and desired to attain by selling its quality products to its targeted buyers. It will help
organizational managers or higher authority to make relevant decisions to in regards to the aims
and objectives of the firm.
Market share analysis: It involves the analysis on market share that is essential to
capture by KFC by expanding its business to other locations for the purpose of attaining high
growth and success within the commercial center.
Efficiency Ratios- Asset Turnover Ratio- Revenue (Sales)/Net Assets.
Cost-Profitability Analysis- It consists on profit examination in addition to costs. It
majorly displays the gap between sales as well as cost.
Conclusion
From this above presentation, it can be concluded that in order to develop the basic marketing
plan the organization must evaluate the 7ps marketing mix process in a proper manner with the
help of all the factors of it. The KFC organization needs to develop a clear understanding process
with the potential customers and communicate with them in an appropriate method.
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References
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