Culture KFC is a multinational fast food chain company that has successfully established itself in the Latin American market. It has a long history, going back to where Colonel Harland Sanders created its distinct recipes. The KFC brand is well known in Latin America, which makes it a powerful marketing tool to use against competitors, but presently, is not conducting business in two countries of South America such as Paraguay and Uruguay. Language is vague in nature and its words are symbols which hardly represent only one meaning.
Uninhibited and thoroughly satisfying eating experience, with same convenience and affordability of ordinary Quick Service Restaurants.
In the coming days, KFC plans roll out more restaurants in Bangladesh STP Marketing Strategy Running a successful business is not like a field of dreams; you can build it but they might not come true.
You have to let people know about the product or service you offer, and persuade them to buy or use it. And you have to let people know about your product or service repeatedly. For this, marketing strategy is very important.
Your marketing strategy consists of: Inform consumers about the product or service being offered. Inform consumers of differentiation factors.
So it helps the company to decides which customers it will serve segmentation and targeting and how differentiation and positioning.
It identifies the total market, then divides it into smaller segments, selects the most promising segmentsand focuses on serving and satisfying the customers in these segments. And this marketing strategy provides the goals for your marketing plans. Marketing Strategy KFC has marketing strategy emphasis on the following facts: Dividing a market into distinct groups of buyers who have different needs, characteristics or behaviors and who might require separate products or marketing programs.
KFC mainly focus on following market segments. Market Segmentation Demographic Segmentation: Demographic segmentation consists of dividing the market into groups based on variables such as age, gender, family size, income, occupation, education, religion, race and nationality.
As one might expect, demographic segmentation variables are amongst the most popular bases for segmenting customer groups. Also, for practical reasons, there is often much more data available to help with the demographic segmentation process. KFC give their concern in following demographic segmentation: One of the first variables of demographic segmentation is age.
This is because consumer needs and wants change with their age. The target and focus is on each and every individual in a society. KFC finds its largest demographic in the young of any society. Age Life cycle stage: Closely connected to age, the life cycle stage of a consumer group defines what will be the need of that particular customer.
For this KFC offer kids meal with toys and veggi burger for old age people. Another popular basis for segmentation is income.
Income is the main decisive factor that influences consumers purchasing power. Consumers with low incomes may not be able to purchase their desired products whereas consumer with higher incomes may not be satisfed with the existing product.
This factor decides which class is to be targeted. In the early rise of KFC they focused on the upper class but slowly are introducing economy meals that attract the lower to middle classes. This plays a vital role in the demographic factor of the KFC.
Generally they target upper class, upper middle class, middle class and middle lower class. Because the items KFC sell are very expensive.
Social Class Family size: Generally they target whole families rather than single persons. This being the reason for their Family Meals which are basically bundled items served at a nominally cheaper rate.
Bangladesh is a country of religious group. The two main groups are Muslim and Hindu. KFC offing items which are make by chicken and other drinks that are totally alcohol free. So every religious group can have their products.KFC (Kentucky Fried Chicken) is a fast food restaurant chain which specializes in fried chicken and is headquartered in Louisville, Kentucky.
It is the world’s second largest restaurant chain overall (as measured by sales) after McDonald’s, with over 18, outlets in countries and territories as of December KFC is a multinational fast food chain company that has successfully established itself in the Latin American market.
It has a long history, going back to where Colonel Harland Sanders created its . Marketing Analysis – KFC To receive a plagiarize free unique essay; custom made for you: Order on our Website. Chinese market, share risk with a local entity, and finally serve as a sign of commitment to the host It also has to .
Product Analysis of Kentucky Fried Chicken History of Kentucky Fried Chicken KFC (Kentucky Fried Chicken) as one of the most popular and successful fast food restaurants, which was founded by Harland Sanders in North Corbin, Kentucky in and concentrate on fried chicken, after decades of development, KFC has become the world’s second largest fast food restaurant chain.
KFC has divided the market of India into distinct groups of customers with different demands, tastes and behavior who require separate products or marketing mix. In India the niche marketing is being used for particular classes of people.
Essay Kentucky Fried Chicken and the Global Fast-Food Industry. Kentucky Fried Chicken and the Global Fast-Food Industry Case Analysis Source Problem The change in demographic trends in the past two decades has seen an overall increase in costs for KFC and other fast food chains.