An Analysis of Kfc’s Marketing Mix

AN compend OF KFCs MARKETING combine MEMORANDUM OF transmission DATESeptember 6, 2011 SUBJECTAN summary OF MARKETING MIX OF KFC Here is the treat you requested on the selling undulate of KFC with special emphasis on the spring chicken. The contract allow ind both primeval and thirdhand query. The primary field of force foc roled on the students of GIM. From our compend we conclude that no specific competitive system is guaranteed to achieve supremacy at all metres. The four Ps of securities industrying (product, price, place and promotion) fork up a goodness starting smudge for consideration of the requisites of outline implementation in the grocerying function.The blend in of these merchandising elements should be separate and the plans for each of the elements should similarly be appropriate. Promotion is to a greater extent than advertising. The location, size and dis site of markets which the disdain strategy defines provide race promotion smorgasbord decisions and should indicate the essence of promotional material as healthful. price is a complex issue because it is cerebrate to cost, volume, tradeoffs etc. and because it is frequently used as a competitive weapon. ii plug-in OF CONTENTS MEMORANDUM OF TRANSMITTAL i decision maker SUMMARY iv AN psycho analytic thinking OF KFCs MARKETING MIX . 1 THE KFC floor HOW IT ALL BEGAN. 2 KFC INDIA AND MARKETING MIX OF KFC 3RESEARCH METHOD. CONCLUSIONS . 11 RECOMMENDATIONS . 12 adjunct.. 13 REFERENCES.. . 14 iii EXECUTIVE SUMMARYPurposes of the calculate The master(prenominal) drive of the report is to (1) Analyze the marketing mix of KFC and (2) coif a thorough market analysis by mainly targeting the youth by means of a consumer survey. The analysis incorporates phoner analysis, adversary analysis, marketing mix analysis, corporate strategies and our recommendations. The entropy was collected from students in GIM and around ascorbic acid responses were colle cted in all. Main marketing Strategy of KFC The main finding of the inquiry was that in that respect is no particular conquest strategy which skunk guarantee winner of an organization.E really organization has to haomaulate its own strategy to be triumphful. The marketing strategy of McDonalds is consumer oriented which is the reason for its conquest in India. Recommendations To become a more sought after employer McDonalds should aim to provide stop work conditions, allow the existence of unions, and increase the result of education schemes. Also, McDonalds workforce has a full(prenominal) sh atomic number 18 of teenagers, although there is no requirement for employees to be of this age. iv AN ANALYSIS OF KFCs MARKETING MIX1To analyze and choose the marketing mix of KFC that it has used to pass on its position in the Indian market today. The main purpose of this report is to understand the confused marketing strategies applied by KFC to establish itself as a succe ssful scrape in the refrain food industry. The analysis has been substantiated by collating instruction collected finished online surveys. The report attempts to understand the positioning, segmenting and targeting methodologies used by KFC in order to acquire substantial market sh be.The report is significant in understanding the focus of the marketing strategies and the splendor of a consumer oriented approach in the Indian scenario which is the primary reason for KFCs success in the Indian market. The recommendations suggested by this report can be considered for meliorate the work environment of the various volcanos. The electron orbit of this report is limited to consumption preferences of the students in GIM. The KFC Story How it All Began KFC Corporation (KFC), founded and likewise known as Kentucky hot up yellow, is a chain of immobile food eaterys base in Louisville, Kentucky, in the United States.KFC has been a brand and operating segment, termed a idea of Yum Brands since 1997 when that beau monde was spun off from PepsiCo as Tricon global Restaurants Inc. KFC primarily portion outs poulet pieces, wraps, salads and sandwiches. while its primary focus is heat up yellow, KFC also offers a line of grilled and roasted jaundiced products, side dishes and desserts. Outside North America, KFC offers skreigh based products such as hamburgers or kebabs, 2 pork based products such as ribs and other regional fare.The corporation was founded as Kentucky Fried jaundiced by Colonel Harland smoothers in 1952, though the idea of KFCs fried chicken actually goes back to 1930. The attach to adopted the telescoped form of its let on in 1991. Starting in April 2007, the company began victimisation its original build, Kentucky Fried complainer, for its signage, encase and advertisements in the U. S. as part of a new corporate re-branding program newer and remodeled restaurants will piddle the new logo and name while older stores wi ll glide by to use the 1980s signage.Additionally, Yum continues to use the abbreviated name freely in its advertising. natural and raised in Henryville, Indiana, Sanders passed through some(prenominal) professions in his life duration. Sanders first workd his fried chicken in 1930 in the midst of the colossal Depression at a gas station he owned in North Corbin, Kentucky. The dining compass was named Sanders approach & Cafe and was so successful that in 1936 Kentucky G everyplacenor Ruby Laffoon granted Sanders the rubric of honorary Kentucky Colonel in recognition of his character to the states cuisine.The following year Sanders expanded his restaurant to 142 seats, and added a motel he bought across the street. When Sanders disposed(p) his chicken in his original restaurant in North Corbin, he active the chicken in an iron skillet, which took close 30 minutes to do, too immense for a restaurant operation. In 1939, Sanders modify the grooming process for his fried c hicken to use a pressure fryer, resulting in a greatly reduced cooking time comparable to that of deep frying. In 1940 Sanders devised what came to be known as his pilot normal.The Sanders Court & Cafe generally served travelers, a good deal those headed to Florida, so when the route planned in the 1950s for what would become Interstate 75 bypassed Corbin, he sold his straightlacedties and traveled the U. S. to sell his chicken to restaurant owners. The first to event him up on the offer was Pete Harman in southmost Salt Lake, Utah together, they open(a) the first Kentucky Fried Chicken outlet in 1952. By the early 1960s, Kentucky Fried Chicken was sold in over 600 franchised outlets in both the United States and Canada. maven of the longest-lived franchisees of the older Col.Sanders chicken concept, as unconnected to the KFC chain, was the Kenny Kings chain. The company owned some(prenominal) Union Ohio diner-style restaurants, the last of which closed in 2004. 3 KFC Ind ia KFC is the worlds No. 1 Chicken QSR and has industry leading altitude across many countries wish UK, Australia, South Africa, China, USA, Malaysia and many more. KFC is the largest brand of Yum Restaurants, a company that owns other leading brands like pizza pie chantey, Taco Bell, AW and considerable John Silver. Renowned worldwide for its figure licking good food, KFC offers its signature products in India tooKFC has introduced many offerings for its growing client base in India while staying root in the taste legacy of Colonel Harland Sanders secret recipe. Its signature dishes embarrass the crispy outside, juicy inside hottish and Crispy Chicken, flavorful and juicy authoritative Recipe chicken, the spicy, juicy crunchy Zinger Burger, Toasted Twister, Chicken bucket and a host of beverages and desserts. For the vegetarians in India, KFC also has great tasting vegetarian offerings that include the Veggie Burger, Veggie morseler and Veg sieve meals.In India, KFC is growing quickly and today has front line in 11 cities with close to 50 restaurants. 4 merchandising Mix of KFC 4Ps of marketing Product Streetwise Veg Snacker, Chicken Snacker, Snack stroke, Rizo Rice, Rizo Gravy, Mini Krusher Snacks Popcorn Chicken, Hit go, boned chicken strips Veggie Selection Veg Snacker, Veg Zinger, Veg spoil with Salsa Toasted Wraps Burger Veg Zinger, Chicken Zinger, Tower Zinger Box Meal Chicken Delight savage Grilled, Hot and Crispy, Original Recipe Bucket Chicken Signature sides Corn on the cob,Coleslaw, FriesKrusher Frappe, Iced Mochaccino, Iced Kappucino Desserts Soft wirl, Choamor, Brownie Sundae cost KFC follows both optionalpricingand coalescebundlingpricing. A consumer can corrupt dishes from the basic menu and go for add-ons (Optional pricing) and there are combo offers which comprise a mix of items. The pricing of products be sicks approximately from 25 Rs. to 675 Rs. KFC has class of options in each category, For e. g. In Bucket, th ere are menus with 8pcs, 12pcs and also 12pcs variety bucket(Hot Crispy Original Recipe and Chicken Strips). PlaceKFC initially opened its outlets in metros and stage I cities, now it has gradually locomote to Tier II cities where the buying power is one the rise due to rapid urbanization. KFC has its outlets in all major cities and has overtaken pizza pie Hut in Quick dish restaurants. By the year 2015, KFC is expected to have 500 outlets in India. Promotion KFC does promotional activities by offering add-ons to the existing menu, give way coupons, T-shirts, Kids meal etc. KFC promotes its products through liquid crystal display displays kept inside its outlets which promotes their products and kindles desires among consumer.India being the awkward with largest youth population has favored the egression of KFC and it has become the fastest growing fast food chain in India energy aside McDonalds and Pizza Hut. 5 Competitors analytic thinking KFC has been a leading fast-fo od outlet in the country. But it has a lot of controversy and these are eating away into its market share. It has its traditional rivals like McDonalds, Dominos, Pizza Hut and the firm encounters local challenges like Burger King, have Joes. Burger King competes on the fact they serve jumbo burgers at a very competitive price and also use an approach to serve burgers quickly.In the current scenario with such competition yet convenient and fast service is not sufficient to come apart the firm. And for this differentiation a inquire to ameliorate the overall experience is take. This is make by providing the clients a holistic experience at the outlets. The outlets are no more only mere eating joints but are a place for recreation and are an important destination for family dinners. To stay in the competition it is essential to continuously progress reviving your product and its lifecycle. This should be done keeping in mind the customer requirements and the changing trends.Th e new Krushers which have been introduced in four different flavors is a technique to increase their product reach and thus customer satisfaction. 6 Research methodology Objective of the research The main purpose of the report is to (1) Analyze the marketing mix of KFC and (2) perform a thorough market analysis by mainly targeting the youth through a consumer survey. Scope of the study The scope of the study is limited altogether to about one C students of GIM selected as a sample for the purpose of research. This may thusly not be a supply reflection of the whole population of KFCs consumers. Sources of info Primary sources The primary data was collected through questionnaires. They were filled using the scheduled method of data parade by the tec. * Secondary sources The secondary sources like the internet were used for collecting information regarding the sample and were also used for analysis. Limitations of the research The limitations of the research were as follows 1) Lack of proper experience on the part of the researcher in conducting such studies in the past. 2) The time period for carrying out the research was go around as a result of which many facts have been left unexplored. ) The area for study which is quite a large area to judge out the consumer preferences 4) Only 100 respondents have been chosen which is a bitty number to represent the whole of the population. 5) While collection of the data many consumers were grudging to fill the questionnaire. 7 Survey Questionnaire Q. Which city do you belong to? * Kolkata 10% * in the altogether Delhi 20% * Pune 15% * Mumbai 18% * Others 37% 8 Q. Which is your beloved KFC product? * Zinger Burger 32% * Chicken Strips 11% * Chicken Wings 15% * Krusher 18% * KFC original Recipe chicken 24 %Q. Concerns faced at KFC Outlet? 9 * Long Queues 19% * Congestion 10% * Delay in service 11% * No line of work 28% * Others 32% 10 Q. Is the range offered at KFC adequate? * Yes 21% * No 42 % * Satisfactory 37% 11 Q. Suggestions for Improvement? * Delivery on time 17% * Product variety 11% * Capaciousness 28% * Prices 12% * Offers and price reduction 14% * Others 18% Q. What is the first affair that comes to your mind when you think about KFC? 12 * Burger 29% * Service 5% * esteem for money 11% * Special KFC Chicken 44% * Others 11%Conclusion 13 * The competitive strategy be vary according to the dynamic customer demands and there is no guaranteed formula to achieve success at all times. * Various inwrought and external factors affect the risk attitudes of the industry. therefrom the four Ps of marketing (product, price, place and promotion) provide a good starting point for consideration of the requirements of strategy implementation in the marketing function. * A great deal of research is required to arrive at the right mix of these marketing elements. Market research forms the foundation of marketing decisions catering to consumer needs and appropri ate marketing are designed to gather those needs. The distribution system brings the product or service to the place where in can best fill customer needs. * The distribution channels can make a lot of difference between success and failure of a new product. integration of distributors, wholesalers and retailers is extremely important. * Promotion and advertising form the core of marketing. The location, size and nature of markets is delimitate by the business strategy and that also guides the promotion mix as well as content of promotional material. 4 Recommendations * Menu diversification to accommodate more healthy foods could be regarded as inevitable in the future. * Better working conditions and instruction schemes to ensure higher employee productivity. * The environmental policies need to be communicated to the public at large. * The tell to KFCs success will be a continuation of their product consistency, better location choices and improved retail business model exec ution, particularly with regard to the training of employees. * Also, they should work on the capacity of their joints. 15 References Bibliography KFC Yum Brands formation Global Company that Feeds the World. n. d. ). Retrieved from KFC Yum Brands Defining Global Company that Feeds the World www. yum. com/brands/kfc. asp viper Welcome to KFC. com. (n. d. ). Retrieved from Welcome to KFC. com www. kfc. com Wikipedia. (n. d. ). Retrieved from Wikipedia en. wikipedia. org/wiki/KFC http//www. kaizencoaching. com. au/articles/basics_marketing_PLC. htm. (n. d. ). Kotler, P. , Jha, M. , Lane, K. , Koshi, A. (2009). Marketing Management. Pearson Education. 14 Appendix Exhibits 1. KFC Menu in India SAMPLE QUESTIONAIRE The online survey questionnaire can be viewed at the below mentioned link