Posted: February 28th, 2023

Marketing Analysis

Continuing in the role of a marketing professional who has been tasked with completing a marketing plan for KFC, refer back to the research you completed earlier: Research as a starting point for the assignment. Conduct additional research related to consumer behavior, the company’s specific product or service, and the company pricing strategy, and use it to complete Research Template.” 

Directions: Using
KFC and research sources from part 1 assignment as a starting point, conduct additional research to acquire information related to consumer behavior, product or service, and price associated with the company you selected. In the “Research Summary” section, discuss how the company could use these types of research findings to develop a marketing plan in order to meet the company marketing objectives and business needs.

Research Summary: In

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50 words, discuss how the company could use these types of research findings to develop a marketing plan in order to meet the company’s marketing objectives and business needs.

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Company Name: KFC

Brand Story: KFC, a supplementary of YUM! Brands are a multinational chain restaurant, headquartered in Kentucky, United States of America, with an approximation of

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1487 outlets internationally. Noteworthy, the organization accommodates 3% of own-managed and 97% of the franchising methods, operating over 131 countries globally. The company is considerably known for the fried chicken recipes in a global food chain and restaurant organization. The organization presents fundamental articulation to stakeholders including, people, planet, and food, as structural articulation in the operations and production process to meet business objectives goals, and vision. As an international organization, KFC pays attention to critical strategic management and services strategies to elements global food chain and restaurant business environment achieving operational excellence within the global market and performance. The company accommodates the future fundamental considerations for strategic performance and operations underpin a fundamental articulation for the practical connection of the concepts learned and overall application in the areal-world situation for a multinational Company like KFC.

Noteworthy, KFC acknowledges fundamental performance strategies such as the design of goods and services, quality management, and effective supply and chain strategies through effective and constant change to meet global business competitions. Change in the organization occurs as adaptive and transformative, describing short and long scale basis for effective organizational management (personal experience). The design of goods and services forms fundamental operations and management within a globally competitive business environment. Designing products and services is the objective to develop and implement competitive strategies for a competitive advantage in a global market (Uddin, 2020). KFC, as a Brand for fried chicken, employs approaches such as product selection, definition, and design to offer compelling competitive advantages in the global competition. For example, product design accommodates fundamental articulation of organizational change causes such as improving an existing product, differentiation of products, and developing new products for effective performance and competitive strategies.

Company Vision: To provide food in a quick, pleasant setting that caters to cost-conscious, health-conscious people

Company Mission: To sell food in fast friendly environment to provide conscious health minded consumers.

Company Marketing Objectives:

Company Marketing Strategies and Tactics:

To provide quality food for their customers, maintaining businesses reputation via providing a good service and increase profitability and market acquisition, improvement and retention.

Company’s marketing strategies offers an effective platform for effective market share, performance and profitability. In marketing strategies, firms present significant competitive and performance strategies to be unique in the market (Heizer et al. 2017). Notably, KFC has accommodated fundamental marketing strategies including understanding the market, choosing value proposition, and underscoring marketing strategies. As a market differentiator, KFC has posited fundamental differentiation strategies including notable public image and brand equity, nominal prices, customer conveniences, flexibility in franchising for a considerable revenue, customer equity, and organizational culture that supports effective market differentiation and successful organization’s operational excellence in marketing differentiation and strategies Similarly, the concepts in market differentiation including emotional response, branding presentation, innovation, unique experience, and pricing have facilitated the KFC platform as a market differentiator (Uddin, 2020). Notably, KFC has employed a skimming pricing strategy whereby the Company starts with the highest initial product charges and lowers the price over time (Omer, 2018). Significantly, KFC has accommodated fundamental innovation and technology applications focusing on customers, services, experiences, and feedback for decision-making. For example, the Company has adopted big data analytics knowledge and concepts from social networking to gather, analyze and interpret customer data for data-driven decision-making. Additionally, KFC Company has accommodated a digital marketing strategy, engaging with a substantial number of customers via social means for effective brand presentation. Finally, KFC Company has presented a notable unique experience in the recipe and product with no imitation from other multinational Companies, accommodating a narrow competitive scope in the industry. Thus, the KFC Company has accommodated significant marketing strategies for effective performance, differentiation, competitive advantage and profitability

SWOT Analysis: Using the data and information from your research, complete a SWOT analysis for the company. Reference and cite the topic materials for details on conducting SWOT analysis.

Citation of Sources: Provide APA citations for the company’s annual report and the other research sources utilized in completing the assignment.

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