Objective and Goals
The objectives and goals of the marketing plan of KFC is to expand its business by having targeting extended set of customer base. The company aims to attract the upper class as well as the middle class people by having more varieties of food products. The company also objects to have more nutritious and healthy food products so that the individuals preferring healthy products can also be targeted easily. The company also aims to provide the consumers with value based services. By having a differentiation strategy, KFC wants to offer high value to nits customers with its innovative and delicious food products and beverages. The primary goal of the company is to become the market leader of the food and beverages industry across the world and to have huge customer base (Randhir, et al., 2016).
Marketing Mix Analysis
Following is the marketing mix of KFC:
The products of KFC are innovative in nature that targets the middle class as well as the upper class individuals. The most recognized products include the fried chicken and varieties of burgers for example fish zinger, chicken burger, twister, etc. Increased numbers of varieties are available for the customers in the beverages as well as in food. There are also healthy and vegetarian products especially for customers preferring healthy food products. There are also offered various meals which are the most favoured products of KFC as it is liked b u the youngsters as well as the families the most (GRADE, n.d.).
KFC usually have high prices of its food products and beverages in comparison with other fast food chains. The company offers high value to its customers. But the prices of the combos and the meals are generally less or reasonable so that it can easily be affordable by maximum number of people. There are various discounts and offers which are provided to the customers on few selected products so that the company can increase the sales of its products. The other price related strategies of the company is to sell a low price product free of cost with a high cost product so that the customers can fascinate with such combos (SAMPLE, n.d.).
KFC always establish its chain at the most prime and crowded locations. The main objective behind establishing at such locations is to become the centre of attraction for the people. B because of high crowd, the chances of potential customers visiting the restaurant increases. As well as locating at the prime locations help the organisation in getting attraction of upper class audiences, etc. (SAMPLE, n.d.). KFC also locate itself at various famous malls and shopping centres as these are the most visited places of the people. There is a direct channel between the producer and the consumers as there is no mediator in between, the consumer can purchase the food products directly from the outlets. To attract the young individuals, the company also place its outlets near to the institutes and the colleges so that there can be increased sales of the food products (Clow, 2004).
KFC invests huge amount of capital for its promotional activities. There are enormous number of promotional approaches and strategies for advertising the food products of the company. To enhance the market share as well as to have strong and increased brand recognition, the strategies used by the company comprises of sales promotion activities, advertising, personal selling, sponsorships, publicity, word of mouth and direct response (GRADE, n.d.). For the advertisements, KFC take use of online advertisements, television advertisements, hoardings and online advertisements for the personal selling, the volunteers of the company visits to several institutes for distributing the vouchers and pamphlets so that the more number of potential customers can be targeted. For the sales promotion, KFC provides promotional offers and vouchers to the potential customers so that they visit the restaurant again and become the reliable customers of KFC. There is also taken feedbacks from the consumers so that they can be offered with additional offers as per their customized requirements based upon their feedbacks. The one of the most successful promotional strategy of KFC is by the means of social media marketing. There are several social platforms on which the company has its recognized presence and through these applications and platforms, KFC increase its promotional activities and extend its customer base (Kennedy, 2006).
In present scenario, the highly developed companies also seek expansions and developments. For fulfil this purpose, the above marketing plan was developed for KFC. From this, marketing plan, kit can be concluded that, KFC has various opportunities for further growth and expansion. The company can have more number of customers as well as huge revenues and sales if it has further expansion through expanding the food menu by having more number of nutritious, organic and healthy food products. The company has strong brand recognition and visibility which is one of the core strength of the company. Therefore, KFC must maintain its brand visibility by various investments and continuous developments. There is huge demand for fast food but KFC must offer products as per the needs of the customers as well as by having a proper understanding of the competitors so that there can be continuous growth of the brand and the customer base. Therefore, it can be concluded that KFC must plan strategic moves to attain competitive benefits and must have innovations in its business operation to have long term sustainability and worldwide expansion.
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