KFC †Marketing Strategy Essay

The purpose of this reputation is to critic tout ensembley evaluate the merchandise strategies of KFC (Kentucky fry Chicken). The researcher go forth discerp how the composition cooks splendid cherish and builds strong blood to everywherehear foster from clients in return. The paper explores facts for building and maintaining moneymaking guest consanguinity by delivering superior abide by and satisfaction. The researcher is going to investigate the social obligations of the compact to ob reply the impact organizationalpolicies on the environment, community, wellness of the consumer and employment of on hand(predicate) imagination At the end the researcher will suggest how the prescribe rump construct guest driven market bum placeing strategy for acquiring, retaining and attracting overbold guests. The paper as well foc employs on creating superior value and satisfaction with blissful merchandise and discourse courses.INTRODUCTIONKFC which stands for Kentucky Fried Chicken form in 1930 and based in Louisville is the humannesss celebrated sensationalistic restaurants chain specializing in original recipe, extra crispy, Kentucky grilled volaille etcetera Everyday more than than 12 million nodes be served in more than 109 countries and regions. KFC operate more than 800 restaurants in UK, more than 5200 restaurants in USA and more than 15,000 restaurants around the globe. KFC is part of YUM check get rid ofs corporation, the worlds largest restaurant phoner in cost of system restaurants with more than 36,000 locations around the world. The party is ranked 239 on peril 500 list, with revenue in excess of $11 billion in 2008.KFC is as committed to the environment as we are to our nutrition and to our nodes. We are proud of the steps we suck taken so far to curtail our environmental foot fool and are committed as a brand to do even more in the in future. Its an ongoing journey that were on and we want to keep you our customers informed on the way KFC introduced first utile dissolute nourishment conquerer in 2010. The gild replaced plastic plates with paper serving boxes and reduced expenditure of non-re crudeable resources like styrofoam from the restaurants. By 2011 the c whollyer-up will reduce foam and plastic use by 62% and 11% respectively. Note You can check the entire floor of the corporation at http//www.kfc.com/ more or less/pdf/timeline.pdf marketingIt is the process by which the community creates value for the customers, builds strong relationship with the consumers and captures value in return. (Kotler, 2007) Lets use the simple model of marketing process to mensurate the secrets female genitalia the success of KFC.UNDERSTANDING THE merchandiseThe basic reason behind the success of KFC is their ability to infrastand the marketplace and ineluctably of the customers. KFC conducts consumer research to go slap-up length in learning virtually their market, compe titors and customers. Consumers wants are well-off by providing superior value and satisfaction. Other factors behind such a resounding success are the capability of guild to to a lower placestand whom to serve, how to serve by integrating customer driven marketing strategy and how to capture the value in return to build long term profitability. The corporation has adopted the construct of increasing the percent of the customers rather than increasing harvest-home market share.CHOOSING A VALUE PROPOSITIONAfter successful variance the guild decides about how it will serve the customers to ramify and position itself in the market place. Through value proposition the telephoner creates knack of benefits that point out itself as a insurance premium brand in the market. the federation endures superior regimen and dining experience to kids, families and visitors in order to discover dinning and to contrastingiate itself from competitors. The companionship offers reapi ngs that offer well-nigh in tincture, performance and taste. Due to profit oriented nature of the hospitality industry the association maintains customer-centred sense of marketing by developing the right products for their customers instead of finding the right customer for their products.MARKETING STRATEGYThe primary goal of developing a customer driven marketing strategy is to build strong and profitable relationship with the customers for accomplishing short and long- pelt along organizational goals. Through market air division, showing and positioning the come with divides its overall market into smaller fractions to be served effectively. It identifies the needs of the site market by selecting the most promising segments and then delivers premium value in order to foster customer satisfaction and loyalty. In order to design a best marketing strategy and marketing mix the connection checks use of environmental analysis, marketing analysis, planning, implementation and control measures.To survive and be competitive in the market KFC designs customer oriented strategies to win customers from their competitors and to advance by delivering superior value. The managements is alert about the cost of having dissatisfied customers who damage the products to other individuals. Therefore they design products and dish outs that are appealing to all the consumers.MARKET SEGMENTATIONAt first place the guild decides whom it will serve? By dividing the laughingstock market into several(predicate) segments like Family, Kids, Visitors, Tourists, Professionals, age, region, refining etc and then developing superior value for specific segments. commercialise segmentation enables the companionship to select and serve only those segments offering the best luck for achieving the organizational goals and objectives. Consumers are grouped and served based on demographic and geopgraphic factors. The segmentation too enable the keep family to break down the behavioural patterns, affordability, best parley and delivery channelize.TARGET MARKETINGAfter the careful selection of the segments, the companionship evaluates the attractiveness and profitability of available segments. Based on such findings the party selects segments pledging for superior customer value, generating more profitability and where it can sustain value over time.MARKET POSITIONINGIn order to make a clear, unmistakableive and desirable product image before the target market KFC makes use of competitive science to get usable education about their competitors for gaining competitive advantage in the market, benefiting from first mover advantage (FMA) and for having a competitive prices. The social club sustains the competitive advantage by having lower prices than competitors and providing more benefits. The troupe diametriciates itself by by recognize customer loyalty and appreciating rounds or customers input for customizing their menu. other useful tactic used by the high society is the selection of medium through which the information is distributed (disseminated) to the general common formaintaining the desirable brand recognition and picture. The high society effectively uses all the available media (print, electronic etc) for targeting the potential customers and creating a distinct corporate image.MARKETING MIXIt is the set of controllable tactical marketing tools that the union blends in order to get the desired response from the target market (Kotler, 2005). It includes everything that the fraternity aspires to sour demand in the target market.intersectionKFC offers tasty and convenient intellectual nourishment to customer at nominal prices. The order produces products for family, kids and people of age groups to discover dinning. Although society has take ine a jackpot for offering lineament food to the target market but critics point that hamburgers, friend chicken, fries, and snacks contain high go and salt. Sometimes meals are Super sized star(p) to over eating and becoming an evident cause of obesity epidemic. Although the products are wrapped in convenient packaging but raise demands for discourse substantial waste and taint. KFC being the largest fast food supplier generates slews of solid waste every day where significant percentage isnt recyclable and lasts lengthy on the landfills. Therefore in the shorter run the company is gratifying consumer needs but creating environmental problems in the longer run.The company has a reputable image and brand name in the world for producing quality food with essential nutritions, healthy ingredients, low calories and drinks containing needed minerals. Customers can easily get the information about the products from the companys website with counselor-at-law on how the product is make, customer can similarly customize product on their own premises and change the ingredients to their likings. each(prenominal) the burgers are cha nge with chicken breast only. of late the company invest The company invests 1 million per annum to switch to nutritionally superior high oleic bodgeseed cover undermentioned that recently company announced to use only high oleic irreverence seed oil in all products and aborting the use of palm oil.The company has variety of things distinguishing itself from the competitorsoperating within the same industry. Some of the defining aspects distinguishing company from its competitors are easy to cook food, elegant packaging and status value. Buyers dont estimate the products values and costs objectively and are only persuaded by sensed image of the company and its food in the market.PRICEThe company deploys yield management to come up with competitive prices for their products. The prices are really low due to large deed of players penetrating in the same market or industry and satisfying consumer needs. More than anything its the brand identity influencing people to acquire the product. The company alike uses Augmented Product concept in order to bring up the sales, provide special discounts and schemes for rewarding loyalty. The company has s different prices for different segments based on total of servings.PLACEMENTSThe company greatly emphasizes on customer convenience for obtaining products/services therefore have designed free stand up topics so that customers are not few transactions walk away from the outlet, suburbs, cities or high street. The outlets are positioned at all major shopping malls, train stations, cities, city centres and suburbs so the cost of stretchiness the market, acquiring and disposing the product is low. Apart from expressing deep concerns for customer health give aways the company directly interacts with the target market by providing toll free number and facility to go online for reserving orders. The company has likewise adopted the concept of involve trade where consumers can buy virtually anything without going to the outlet by telephone, mail-order catalogue or by visiting online. KFC uses www.kfc.co.uk or www.kfc.com for direct marketing. commonplaceityKFC deploys different activities for communicating the merits of their products and persuading customers to obtain their products/services. The company uses print and electronic media to target the potential customersand for maintaining a distinctive image of their products/service before the familiar. KFC has the forepart on different social websites such as Facebook, Flickr and Linkedin to promote the products. The company spends considerable amount of money for Advertising and Selling.The marketing experts design different TV Ads for promoting the products, targeting the individuals, disseminating the merits of products and attracting newfound ones. The company also uses bill dining tables, sign boards, print publications, brochures, magazines, printing success stories in the newspaper and forming partnership with other famous org anizations to boost selling and preserve an elative face before the public. Recently the company was ranked as a Britian Top Employer and recognized as a great place for work on the basis of following gas characteristics performance recognition elaboration, friendliness, group work, career progression, advancement and tuition opportunities.MANAGING THE MARKETING EFFORTApart from being good at marketing, KFC pays significant assistance to management that includes in depth market analysis, planning, implementation and control. The company gathers lot of information about the market to analyze whether the window of chance is unresolved for their products before actually marketing products to the target market. The company first develops marketing oriented mission statement, then develop strategic plan for products, services, brands and target markets. After thorough consideration and planning the company turns plan into actions.environmental ANALYSISThe environmental or PEST ana lysis is used to assess the industry in which the company is operating and is used in joint in thrum Analysis to find out major opportunities or threats facing company. The company can use such techniques to examine the immanent or external forces affecting their ability to provide superior value to customers at a fair price. The pest analysis of the KFC is as underPOLITICALKFC has partnered with several government and non-government organizations to effectively circumvent barriers influencing to deliver premium value tocustomer. Many consumers and environmental groups have raised their voice against fast food giants providing junk and unhealthy food to consumers. Critics suggest that hamburgers, French fries, fry chicken etc are high in fat and salt. The government has also restricted the fast food giants not to market the food to under age groups and regulated the companies to modify their product menu that doesnt tote up to national obesity epidemic. Critics feel that fast f ood companies are harming consumer health and providing fat food. Recently KFC signed up to the Governments creation Health Responsibility Deal, promising to include calories on menu boards.The company will also be launching a Lighten Up initiative at point of sale by offering customers an luck to lighten up their meals for free or by swapping a fixing drink to diet, and fries for corn or beans deliverance up to 295 calories. The company was also the first QSR to introduce salad to the menu and to stop salting its fries, and eliminated imitation trans fats in 2007 by removing hydrogenated vegetable oils from its menu. Furthermore, a salt reduction programme launched in 2005 has so far cut salt by up to 40% across the menu. The company has adopted fair trade practices e.g having the culture of equal opportunity employment, minority rights, accurately declaring business income, paying taxes. In united states Food and Drug administration, Consumer product safety commission set saf ety standards for the products and penalize companies failing to meet them.ECONOMICThe management keeps an nerve on ongoing economic events so that the company isnt alter by economic volatilities or uncertainties. The company closely monitors per capita income of consumers in different regions, ongoing inflation affecting buying behaviour and exchange rates limiting their ability to obtain or import material from suppliers. The company gathers all that information to exploit from labour market imperfections in the world(prenominal) arena and from expanded opportunity rationale.SOCIALThe company deploys Societal marketing in order to maintain the equilibrium between consumer short-run wants and long-term welfare the company has established strict guidelines for portraying a halcyon public image andto sustain brand recognition. KFC is a company that satisfies the needs of the target market by doing whats best for them in the longer run? To curb the concerns of consumers and envir onmental groups the company has taken different initiatives to liveliness after health and safety issues of their employees and customers in contingent. Recently the company introduced Brazer (non-fried, griddled hold, to agreeablely improve the nutritional profile of their menu (products), to fulfil promises make about health and to cut down the take aim of saturated fat.The company has also done partnership and signed memorandums with other organizations to look after public health issues. Recently the company was ranked as a Britain top employer and as a pleasant place to work for individuals. The company executive disclosed that the company provides advancement opportunities to individuals on merit and encourages team work and individual participation. The company established environmental leadership council in 2006, became a member of Considerate Contractor Scheme and presently workings with Carbon Trust to reduce energy emissions. The company has also taken initiatives f or trim down carbon footprints, making efficient use of natural resource e.g water, electricity etc. The company has also formed alliance with environmental defence system to handle solid waste and maintain environmentally favourable image.TECHNOLOGICALThe company is operating in a speedily ever-changing environment creating new opportunities and posing threats. The new technology creates new opportunities but the of replacing new technology is always high. The company is aware about the cost of ignoring new technology and its side effects as well. KFC is a company that keeps with the technological changes and refines its product menu on symmetrical basis. Such changes have resulted in much higher research and development costs due to the complex nature of the technology the marketers and consumers must have technical know how.SWOT ANALYSISSWOT ANALYSIS is the acronym of Strengths, Weakness, probability and threat is a strategic tools used by the company to analyze the circumsta nces in which the company is operating. Strengths and Weaknesses are the internalfactors on which the organization has total control where as Opportunities and threats are the external uncontrollable factors.Strengths of KFC* roaring public image and Brand candor* Second largest fast food supplier after Macdonalds* Global Existence* Nominal Prices* Customer gismo* Professional certifications and salutes* Proactive management* Britains top employer and great place to work* Flexible Franchising bringing considerable revenue* Customer Equity* Organizational cultureWeaknesses of KFC* High labour turnover* Junk food* Same taste twice* Lack of innovation* Cultural jolt of two titans namely Pepsi and KFC* Hygienic food problems as one of the outlet in America was declared rat infectedOpportunities for KFC* Rapidly changing economy and global trends* Increased demand for convenient food* practise Conglomerate Diversification for health conscious people * Increased transformation* Glo bal market imperfections* Expanded opportunity rationaleThreats for KFC* Saturated Market* Increased Competition* Rapidly changing technology* Legal legislations and policy-making regulations* International political chaos* Low variety* Availability of supersede products* Threat of new entrants* Bargaining Power of Customers* Lack of competitive intelligence* Health and safety concerns* Environmental and Government RegulationsANSOFFS PRODUCT MARKET EXPANSION GRIDIt is a portfolio mangement tool for identfying growth opportunities through market penetration, market development, product development and diversification. The model is depicted asSince its root the company has used different tactics in order to hatch around in the global market to market their products to domestic, national and international consumers.DIVERSIFICATIONIn 1930 the Harland Sanders opened his first restaurant in Corbin in front of gas station.PRODUCT DEVELOPMENTIn 1937 Sanders Court & Caf added a motel an d expanded the restaurant to 142 seats.MARKET PENETRATION, PRODUCT AND MARKETDEVELOPMENTIn 1960 Colonels hard work on the road begins to pay off and there were 190 KFC franchisees and 400 franchise units in the U.S. and Canada. In 1964 Kentucky Fried Chicken had more than 600 franchised outlets in the unify States, Canada and the first overseas outlet, in England. In 1971 the company had more than 3,500 franchises and restaurants worldwide when Heublein Inc. acquired KFC Corporation. At the end of 1979 the company had There are approximately 6,000 restaurants worldwide with sales of more than$2 billion.PRODUCD DEVELOPMENT AND DIVERSIFICATIONIn 2007 KFC introduced a new recipe that keeps the Colonels 11 herbs and spices and finger-lickin flavor, but contains Zero Grams of Trans Fat per serving thanks to new planning oil. In 2008 The Colonel had a new look KFC updated one of the most recognized, respected and beloved brand icons with a new logotype. The new logo depicted Colonel Sa nders with his signature string tie but replaced his classic etiolate double-breasted suit with a red apron symbolizing the domestic culinary heritage of the brand and reminded customers that KFC is always in the kitchen cooking delicious, high-quality, pertly prepared chicken by hand, just the way Colonel Sanders did 50 age ago.MARKET DEVELOPMENT AND DIVERSIFICATIONIn 2009 KFC introduced Kentucky Grilled Chicken a better option for health conscious consumers to care for their long run welfare in order to capture the entire stream of purchases they would make for the rest of their life. Kentucky Grilled Chicken had less calories, fat and sodium than KFCs Original Recipe chicken, without sacrificing the great taste of KFC.PRODUCT DEVELOPMENTIn 2011 the company launched first ever non-fried range the Brazer that is is a lighter, great-tasting alternative to KFCs existing menu, and includes three new items a burger, a Twister (a tortilla wrap) and a salad, each of which are lower in calories (by up to 60%), fat (by up to 87%), saturated fat (by up to 82%) and salt (by up to 45%) than regular menu items. The company has been using the Ansoffs product market expansion grid by introducing the existing products internationally, providing halaal food to different communities opening new market and needs to be satisfied, by modifying the nutritional profile of their menu and by slightly changing the cooking ingredients at times.CUSTOMER RELATIONSHIP MANAGEMENT (CRM) AT KFCAccording to Philip Kotler (2007) customer relationship management is an art of building and maintaining profitable customer relationships by delivering superior value and satisfaction. KFC has developed an extensive databaseabout their customers in order to track touchpoints where they can deliver superior value and maintain profitable relationship with the customers. The major reason for the success of KFC is their ability to offer products having highest customer perceived value and exceeding the customer perceived value. Another reason of such a phenomenol success is the capability to market products whose perceived performance normally exceeds customers expectations. beyond offering high quality products the company has designed several customer loyalty and retention programs by rewarding customers on frequent purchases.The company also uses Selective blood Managment by undertaking customer profitability analysis where overall motive is to grass out loosing customers and target winning ones for pampering. The company creates profitable customers by providing especial(a) quality products and delivering customer oriented superior value. The company knows that losing a whiz customer means losing the entire stream of purchases the customer would make over the entire lifetime. The firms leverages CRM to offer great variety to customers in order to profit the Share of customers rather than the market share. KFC examines its relationship with social values, responsibiliti es and the acres that sustains it.Recently the company announced to cut the use of plastic by 17% and foam by 62% for the year 2011. The social right and environmental movements have placed even strict demands on the company. As KFC is a forward looking company so it readily accepts the state to the world and people around it. The company views such actions as an opportunity to do well by delivering good (new slogan of the company is So Good). The company compares the opportunity cost of its actions against the long-run interests of the customers and communities. The company has also taken initiatives towards Data Protection and Privacy Issues to curb the misuse, scam or phishing.PUBLIC RELATIONS AT KFCPublic relation is an art of managing communication between the organization and the public with an objective to create and maintain approving public image. KFC uses different communication tools for building awareness about their products and for preserving socially image in the marketplace for their products and services. The company deploys numerous equity orperceived value and dent the reputation of the organization in the market. All the efforts are aimed at helping the public to understand the company and its products in more depth. The company sends mystery shoppers to different outlets to unveil defects in service or product. The company also gathers a lot of information about the customers and different topics of their interests to leverage relationship for building a strong public image.Apart from using different media in order to influence the public the comany also deploys lobbying, printing success stories in the newspaper, launching products, posting particular achievements online and by sponsoring UN HUNGER FOOD PROGRAM for providing food to needy people. Recently the company was nominated as the great place to work for individuals and was awarded an award of Britain Top Employer. Such measures play critical role in achieving a competitive edg e, attracting high calibre individuals, creating and delivering superior customer value nevertheless protecting the well being of the company in the time of crisis.Yum Brands which is the kick upstairs of KFC has formed an Animal Welfare Advisory Council whose role is to get information and advice based on relevant scientific research. The company also obtains prescribed headlines in the media by showing the commitment to the environment and by productively (efficiently, frugally) using the natural resources. In 2010 the company introduced fast food reusable container. The corporate policy is to reduce the usage of non-renewable resources, cut down the use of Styrofoam and carbon foot prints. In that respect the company is using the concept of Subsistence Economy. The company has also developed guidelines, limitations, and rules (restrictions) for the suppliers in the broiler industry. The company is also proud to be a prominent player in the cooperative effort conducted by Nat ional Council of Chain Restaurants and the Food Marketing shew in developing comprehensive guidelines for all species of farm animals. The company has also implemented programs in the area of poultry care and handling.The company has initiated partnership with Barnardos, the UKs biggest bounty supporting children and young people to address the issue of youth unemployment. The company is backing the United Nations World Food political platform against world hunger by raising over half a million pounds last year thats about 3.35 million meals forchildren in some of the poorest regions of the world. The company is also implementing the concept of product liability where the manufacturing business is responsible for the faulty product or any damages made by the product to the consumer. In the past the companies were sued, dragged in court and evicted on ignoring the product liability obligations.For instance when considering the tragic tampering case in which eight people died from swallowing cyanidelaced capsules of Tylenol a Johnson & Johnson brand. The company knew that the pills were altered in some stores not in the factory so it decided to refuse all of its products. The total recall cost was $240 million in fee but in the longer run such initiative change customers confidence, trust and loyalty in the company. It shows the importance of managing public relations in crisis to preserve the favourable image of the organization. KFC bought the best quality chicken from UK Farms that meet Red Tractor Standards.The company has decided to cut the level of saturated fat by 25%, use of plastic by 17%, use of Styrofoam by 62% and invested 1 million p.a. on replacing palm oil with rape seed oil. The company also provides all the nutrition information on the internet so that the consumers are aware about their calorie intake and has reduced the use of salt on menu board. All these initiatives show the dedication of the company towards protecting the long-run we lfare of the community and customers. The company was recently conferred with an unearned award of Carbon Trust Standard for continued CO2 reduction. In 2009 the company opened first eco-store with salient energy saving features. decision & RECOMMENDATIONSBased on primary and secondary research it can be deduced that the company has taken best initiatives to build strong public image, influence people buy their products by effectively leveraging the selective relationship management and in improving work place practices from employment and merchandise perspective. As the study suggests that the company knows the overall impact of its operations on Environment, health of the consumer and reputation of the organization. So it has taken measures to curb the environmental pollution by decreasing the use of plastic and Styrofoam,reducing calories, saturated oil and fats in the food by replacing palm oil with rape seed oil, reducing salt, providing nutrition information to the consumers , obtaining high quality chicken from british farms and by modifying the nutritional profile of the menu on consistent basis. As suggested in earlier part of analysis the company is also funding the United Nations World Food Hunger Program, joined charity in order to help the unemployed youth and reducing the use of non-renewable resources to certain extent by building eco-stores with some energy saving features.The company is making a significant contribution in the well being of the society and in preserving the natural climate by reducing carbon footprints. All these initiatives are the premium examples of how organizations create and maintain profitable customer relationship by using public relations, societial marketing and customer relationship management. When observed from the business perspective the company is operating within a highly saturated market not showing any signs growth for the future. The company can increase the share of their customers by closely analyzing th e other cultural values and perceptions. As the company is operating worldwide it can add new products to menu board by undertaking global cultural research analysis and wherefore creating superior customer values shaped by consumers needs, wants and demands by observing culture.Based on my own judgement it seems like companys policy is to sell everything to everyone. They should focus on particular segment of the market, closely analyze their needs, carefully select the customers and deliver superior customer value to capture back the value in return. As United Kingdom is the country with rich diversity so all these issues should be taken into consideration when creating superior customer value, selecting the appropriate communication channel for positioning the product or targeting the customer, crafting an effective message for the public for communicating the merits of the product and designing loyalty scheme.In analysis it has been discovered that the company hasnt been able t o develop customer loyalty and retention programs beyond offering consistently high value and satisfaction. Now a geezerhood companies offer frequency marketing programs whereby they reward customers for buying more or in bulk. For instance airline companies offer frequent flier programs, hotels provide room upgrades to regular guests and supermarkets give patronage discount to valuable customers. KFC isntimplementing such schemes to reward customers for their loyalty and commitment. 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