Kfc Marketing Fundamental Essay

1699 words - 7 pages

Contents
I - Introduction 2
II - Micro Environment 2
1. Customers 2
2. Partners 3
2.1. Suppliers 3
2.2. Franchisees 3
3. Competitors 3
4. Industry 4
III - Macro Environment 4
1. Political 5
1.1. Carbon tax 5
1.2. Minimum wages 5
2. Social Cultural 5
3. Economic 6
IV - Conclusion 6
V - References: 6

I - Introduction
KFC, which has full name as Kentucky Fried Chicken, is one of well-known fast food brand names in the world due to their effective marketing strategies. To create good marketing strategies, KFC needs to understand the market by conducting a market research and collecting information about micro and macro environment. Therefore, they ...view middle of the document...

KFC prices and products are various so that their customers can have many options for them to choose the most suitable. From single meals to family meals or separated options, all of them can reach the demand of different kinds of customers by offering the prices as lowest as possible. Especially, KFC presented some promotions for some of their products by redeeming prices for those products on Tuesday. “Happy Tuesday” is an example for their promotion. KFC also has friendly customer services by training their staffs to have good attitude with their customers. KFC’s staffs have to treasure and appreciate any complaints from their customers in order to satisfy them. In conclusion, by understanding and treasuring their customers, KFC had effective strategies to influence them.
2. Partners
The definition of partners is people or groups who cooperate with the company such as suppliers, transporters, sponsors, retailers or wholesalers. KFC’s partners include farmers who supply materials for production and franchisee who can legally establish KFC shop to earn profit for themselves.
3.1. Suppliers
According to announcement of KFC on their website, Inghams, Steggles and Baiada are well-known brand names that provide chicken meat to KFC. By signing for long-term contracts, KFC became their major customer. As their long-term customer, KFC influences to reduce the cost of purchase by consider the most reasonable price with guaranteed quality. If any supplier does not match KFC’s demands, KFC will stop the contract and look for another supplier. Thus, KFC has an important role on their suppliers’ businesses.
3.2. Franchisees
KFC provides a legal policy for franchisees to run their businesses under the brand name, decoration, management system and menu of KFC. Since the time when KFC became a part of YCI – Yum! Restaurants International in Australia, KFC grew up to be one of the top fast food services. In return, KFC let franchisees use KFC brand name and as well as training and decoration to make profit for themselves. However, KFC has all rights to stop franchisee’s activities which cause any offence and effect to their brand name.
3. Competitors
Kotler explained: “Competition includes all the actual and potential rival offerings and substitutes a buyer might consider” (Marketing Management, Kotler & Keller, Pearl International Edition, 13th Edition, p.p 54). It means any product that consumers might consider to replace KFC is a competitor. In Australia, we may take into account some brand names such as McDonald, Hungry Jacks, Oporto, etc. These are strong and well-known brand names in fast food industry. Especially, Oporto is main competitor when consumers are willing to buy chicken meals. Thus, in order to gain market share and overcome their competitors, KFC planned their strategies based on marketing mix. Marketing mix includes product, price, place and promotion.
Product: KFC introduces innovative sets of combo to...

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