Assessment Three is a written report on KFC’s new concept store called “KFC Urban”. This new store will be selling alcohol as part of its product offering.
Inside the report included:
• Information about KFC and its positioning
• Academic theory about brand image and positioning, Marco Environment and SWOT analysis,
• Your creative design of brand image and positioning statement
• Primary and secondary market research about consumers
• Segmentation theory and a target profile market (using your market research) for the new store
• Five recommendations for KFC Urban
How to complete Assessment Three
KFC is planning to launch of a "high-end" pilot store operating under the name ‘KFC Urban’. At this restaurant, KFC will add spirits, wine, beer and cider to its menu. See the links below for a discussion of the concept stores.
Imagine you are now working for KFC Australia and it is your role to help define the concept store’s new brand image and positioning statement as well as identify and justify the primary target audience. Your boss has asked you to write a report explaining the theoretical concepts and your creative ideas for the brand image and positioning statement. You also need to include a discussion of the macro environment and a SWOT analysis showing the impact these factors will have on the store. You need to include market research about potential segments and your target market profile. Finally, your boss also wants five specific recommendations for KFC Urban: (1) promotion, (2) price, (3) staff (4) processes (5) product choices (i.e. what kind of alcohol?)
Step 1 Academic research
You need to include at least three journal articles to define and describe the concept of brand image and repositioning a product with a new brand. When you write the report, use the theory of branding and positioning to provide the evidence to justify your brand image design choices. Use the resources from Assessment One to ensure that you find relevant articles to support your ideas.
In the business market you also need to be aware of the impact of the macro environmental factors. As part the plan for KFC Urban you need to specifically highlight how these factors (Elliott et al. 2014 Chapter 1) will affect KFC. (For example, research laws related to insurance, clean food, alcohol service and minors serving alcohol, social issues- such as encouraging alcohol consumption etc). You should also consider a brief SWOT (Strengths, Weakness, Opportunities and Threats) analysis here. Be sure to define and describe all macro environmental factors as part of your discussion even though some may not be relevant. Some relevant sources to help you find your evidence to support your argument may be government departments, media stories and the Australian Bureau of Statistics.
Step 2 Research organisation and consumer market data
Research KFC and its parent company
Find and summarise in no more that 300 words KFC’s
• Mission statement, values
• Policies for customers and staff
• Positioning statement
Now you need some data about consumers’ attitudes towards your product
Develop a very brief (maybe three or four questions) questionnaire (see Chapter 3 and module topic on market research) and asking a few people that you know, find out about the attitudes consumers have for the product- KFC and alcohol. There is a forum task related to gathering data in the modules task on Market Research- using free services like survey monkey to help you get data - everyone is welcome to request their fellow students to complete their online survey (no promises that they will, but I hope that you can support each other).