An Analysis of Kfc’s Marketing Mix

AN ANALYSIS OF KFCs market MIX MEMORANDUM OF transmitting DATESeptember 6, 2011 SUBJECTAN ANALYSIS OF MARKETING MIX OF KFC present is the survey you requested on the grocerying mix of KFC with special tenseness on the juvenility. The consume included both firsthand and secondary research. The primary study focused on the students of GIM. From our compend we conclude that no limited rivalrous strategy is guaranteed to achieve success at all times. The quaternity Ps of marketing ( increase, price, place and promotion) provide a wide get-go point for consideration of the requirements of strategy implementation in the marketing function.The mix of these marketing elements should be appropriate and the plans for each of the elements should overly be appropriate. procession is more than advertising. The location, size and nature of markets which the business strategy defines leave guide promotion mix decisions and should indicate the content of promotional bodily as well. Pricing is a complex issue because it is related to cost, volume, tradeoffs and so forthtera and because it is frequently used as a competitive weapon. ii board OF CONTENTS MEMORANDUM OF TRANSMITTAL i EXECUTIVE SUMMARY iv AN ANALYSIS OF KFCs MARKETING MIX . 1 THE KFC STORY HOW IT ALL BEGAN. 2 KFC INDIA AND MARKETING MIX OF KFC 3RESEARCH METHOD. CONCLUSIONS . 11 RECOMMENDATIONS . 12 APPENDIX.. 13 REFERENCES.. . 14 iii EXECUTIVE SUMMARYPurposes of the report The main pattern of the report is to (1) Analyze the marketing mix of KFC and (2) perform a consummate(a) market analysis by mainly targeting the youth done a consumer survey. The analysis incorporates company analysis, competitor analysis, marketing mix analysis, corporate strategies and our recommendations. The data was dispassionate from students in GIM and around 100 responses were collected in all. Main market Strategy of KFC The main finding of the research was that in that respect is no contingent succ ess strategy which deal guarantee success of an organization.Every organization has to prepare its own strategy to be successful. The marketing strategy of McDonalds is consumer orientated which is the reason for its success in India. Recommendations To become a more suited employer McDonalds should aim to provide better working conditions, allow the existence of unions, and increment the number of training schemes. Also, McDonalds workforce has a high share of teenagers, although there is no requirement for employees to be of this age. iv AN ANALYSIS OF KFCs MARKETING MIX1To analyze and study the marketing mix of KFC that it has used to establish its shoes in the Indian market today. The main purpose of this report is to date the various marketing strategies applied by KFC to establish itself as a successful brand in the fast food industry. The analysis has been substantiated by collating info collected through online surveys. The report attempts to understand the position ing, segmenting and targeting methodologies used by KFC in order to acquire considerable market share.The report is fundamental in understanding the focus of the marketing strategies and the importance 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 throw out be considered for alter the work environment of the various departures. The scope of this report is limited to usage preferences of the students in GIM. The KFC Story How it All Began KFC Corporation (KFC), founded and also known as Kentucky Fried fearful, is a chain of fast food eat houses ground in Louisville, Kentucky, in the United States.KFC has been a brand and operating segment, termed a impression of Yum Brands since 1997 when that company was spun off from PepsiCo as Tricon Global Restaurants Inc. KFC primarily sells icteric pieces, wraps, salads and sandwiches. charm its primary focus is deep-fried yellow, KFC also offers a line of grilled and roasted chicken intersection points, side dishes and desserts. Outside North America, KFC offers beef based products such(prenominal) as hamburgers or kebabs, 2 pork based products such as ribs and other regional fare.The company was founded as Kentucky Fried poulet by Colonel Harland Sanders in 1952, though the idea of KFCs fried chicken genuinely goes back to 1930. The company adopted the abbreviated form of its anticipate in 1991. Starting in April 2007, the company began using its original name, Kentucky Fried crybaby, for its signage, incase and advertisements in the U. S. as part of a new corporate re-branding political platform newer and remodeled restaurants will have the new logo and name time elder stores will continue to use the 1980s signage.Additionally, Yum continues to use the abbreviated name freely in its advertising. Born and raised in Henryville, Indiana, Sanders passed through some(prenominal) professions in his lifetime. Sanders first functiond his fried chicken in 1930 in the center of the Great Depression at a gas station he owned in North Corbin, Kentucky. The dining area was named Sanders Court & cafe and was so successful that in 1936 Kentucky Governor Ruby Laffoon granted Sanders the gloss of honorary Kentucky Colonel in recognition of his contribution to the states cuisine.The following year Sanders grow his restaurant to 142 seats, and added a motel he bought across the street. When Sanders prepared his chicken in his original restaurant in North Corbin, he prepared the chicken in an iron skillet, which took close 30 minutes to do, too huge for a restaurant operation. In 1939, Sanders altered the cooking process for his fried chicken 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 Original Recipe.The Sanders Court & Cafe generally served travelers, a lot those headed to Florida, so when the route planned in the 1950s for what would become interstate highway 75 bypassed Corbin, he sold his properties and traveled the U. S. to sell his chicken to restaurant owners. The first to take him up on the offer was Pete Harman in confederation Salt Lake, Utah together, they opened the first Kentucky Fried volaille outlet in 1952. By the early 1960s, Kentucky Fried Chicken was sold in over 600 franchised outlets in both the United States and Canada. One of the longest-lived franchisees of the older Col.Sanders chicken concept, as opposed to the KFC chain, was the Kenny Kings chain. The company owned many Northern Ohio diner-style restaurants, the cobblers last of which closed in 2004. 3 KFC India KFC is the worlds No. 1 Chicken QSR and has industry direct stature across many countries handle UK, Australia, South Africa, China, USA, Malaysia and many more. KFC is the largest brand of Yum Restaurants, a company that owns other leading b rands like Pizza Hut, Taco Bell, AW and Long legerdemain Silver. Renowned worldwide for its finger licking good food, KFC offers its signature products in India tooKFC has introduced many offerings for its growing node base in India while staying rooted in the taste legacy of Colonel Harland Sanders unfathomable recipe. Its signature dishes include the crispy outside, juicy inside Hot and laconic Chicken, flavorful and juicy Original 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 taste sensation vegetarian offerings that include the Veggie Burger, Veggie sharpnesser and Veg Rice meals.In India, KFC is growing speedily and today has presence in 11 cities with close to 50 restaurants. 4 Marketing Mix of KFC 4Ps of marketing Product Streetwise Veg Snacker, Chicken Snacker, Snack Box, Rizo Rice, Rizo Gravy, Mini Krusher Snacks Popcorn Chicken, Hit Wing s, Boneless chicken strips Veggie extract Veg Snacker, Veg Zinger, Veg Strip with Salsa Toasted Wraps Burger Veg Zinger, Chicken Zinger, Tower Zinger Box Meal Chicken Delight Fiery 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 expense KFC follows both optionalpricingand mixedbundlingpricing. A consumer can buy 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 ranges approximately from 25 Rs. to 675 Rs. KFC has frame of options in each category, For e. g. In Bucket, there are menus with 8pcs, 12pcs and also 12pcs word form bucket(Hot Crispy Original Recipe and Chicken Strips). PlaceKFC initially opened its outlets in metros and Tier I cities, now it has gradually moved to Tier II cities where the buying power is one the rise due to r apid urbanization. KFC has its outlets in all major cities and has overtaken Pizza Hut in Quick avail 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, gift coupons, T-shirts, Kids meal etc. KFC promotes its products through LCD displays kept inside its outlets which promotes their products and kindles desires among consumer.India being the country with largest youth nation has favored the growth of KFC and it has become the fastest growing fast food chain in India pushing aside McDonalds and Pizza Hut. 5 Competitors Analysis KFC has been a leading fast-food outlet in the country. But it has a lot of competition and these are eating away into its market share. It has its conventional rivals like McDonalds, Dominos, Pizza Hut and the firm encounters local challenges like Burger King, weed Joes. Burger King competes on the fact they serve jumbo burgers at a very competiti ve price and also use an approach to serve burgers quickly.In the current scenario with such competition only convenient and fast operate is not sufficient to variediate the firm. And for this differentiation a need to improve the overall encounter is required. This is done by providing the customers a holistic experience at the outlets. The outlets are no more only mere eating joints but are a place for recreation and are an authoritative destination for family dinners. To stay in the competition it is essential to continuously custody reviving your product and its lifecycle. This should be done keeping in judgement the customer requirements and the changing trends.The 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 b y mainly targeting the youth through a consumer survey. Scope of the study The scope of the study is limited solely to closely 100 students of GIM selected as a sample for the purpose of research. This may thence not be a total reflection of the whole population of KFCs consumers. Sources of data Primary sources The primary data was collected through questionnaires. They were engluted using the scheduled method of data collection by the researcher. * 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) want 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 short 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) singl e 100 respondents have been chosen which is a small number to fend for the whole of the population. 5) While collection of the data many consumers were unwilling to fill the questionnaire. 7 Survey Questionnaire Q. Which city do you belong to? * Kolkata 10% * novel 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 acquittance? 9 * Long Queues 19% * Congestion 10% * Delay in service 11% * No problem 28% * Others 32% 10 Q. Is the range offered at KFC adequate? * Yes 21% * No 42% * fitted 37% 11 Q. Suggestions for Improvement? * Delivery on time 17% * Product variety 11% * Capaciousness 28% * Prices 12% * Offers and brush off 14% * Others 18% Q. What is the first thing that comes to your mind when you think about KFC? 12 * Burger 29% * Service 5% * Value for money 11% * Special KFC Chic ken 44% * Others 11%Conclusion 13 * The competitive strategy be varied according to the dynamic customer demands and there is no guaranteed formula to achieve success at all times. * non-homogeneous internal and external factors affect the risk attitudes of the industry. Thus 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 sound mix of these marketing elements. Market research forms the basis of marketing decisions provide to consumer needs and appropriate marketing are designed to meet those needs. The distribution system brings the product or service to the place where in can best fill customer needs. * The distribution channels can cave in 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 encumbrance of marketing. The location, size and nature of markets is defined by the business strategy and that also guides the promotion mix as well as content of promotional material. 4 Recommendations * poster diversification to accommodate more healthy foods could be regarded as necessary in the future. * Better working conditions and training schemes to operate higher employee productivity. * The environmental policies need to be communicated to the public at large. * The fundamental to KFCs success will be a continuation of their product consistency, better location choices and improved retail business model execution, oddly with regard to the training of employees. * Also, they should work on the capacity of their joints. 15 References Bibliography KFC Yum Brands delineate 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 Welcome t o 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 at a lower place mentioned link