Business Strategy Kfc – Find out why KFC is at the top of its game by understanding the 4Ps of KFC’s marketing mix analysis.
Kentucky Fried Chicken or KFC is a popular fast food brand worldwide and especially in the United States. The corporation has a strong marketing mix that is still unmatched by the competition. KFC’s marketing strategy examines the brand through the concept of the marketing mix, which includes the four P’s (Product, Price, Place, Promotion). A company’s marketing mix refers to the methods and strategies it uses to reach its target market and promote itself.
Business Strategy Kfc
The 4Ps of KFC’s marketing mix are product; promotion Pricing and location strategies. As a result, we can conclude that the marketing mix is a tool that helps us better understand the company and its impact. These KFC business techniques based on the marketing mix contribute to the success of the brand. KFC’s marketing strategy helps the brand/company to take a competitive position in the market and achieve its business goals. In this post, we will examine the 4Ps of KFC’s Marketing Mix as follows.
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A product strategy is an outline of what a company should sell and provide to its consumers. Fried chicken is a signature dish of the American brand of fast food restaurants KFC. KFC’s original product was breaded chicken nuggets mixed with Sanders’ 11 spices. KFC has changed its menu to suit regional tastes around the world with nearly 300 menu options. KFC continues to add new items to its menu, which helps in developing a strong product strategy that helps boost marketing.
Globally, KFC has higher profitability. The company’s profit in 2015 was 16 billion dollars. In Europe and Russia, the brand performed exceptionally well, being an important asset for the corporation.
Burgers are around $5 and lunch and drink combos are around $15. Bundles are cheaper than buying all the items individually. This is especially beneficial in price-sensitive countries such as Asia and Africa. The brand’s annual revenue is over $25 billion worldwide.
This approach focuses on determining where the company can find potential consumers of its products. KFC’s marketing staff follows strict guidelines based on their locations across the country. KFC’s current position is globally neutral due to its audience acquisition strategy. KFC and its restaurants have more than 15,000 locations in more than 100 countries.
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All KFC locations are in schools, universities, deliberately located near workplaces and other educational institutions. This is because the youth consume more fast food than the country’s elderly.
The way in which the company’s products are promoted in the market is called the promotion strategy. KFC is one of the largest food corporations and is aggressive in the market. Most of the advertising is TV commercials, documents, works with magazines and bulletin boards. KFC sponsors the Australian Big Bash League (BBL) and other cricket competitions.
KFC uses the tagline “It’s finger-licking good” to entice consumers with its mouth-watering culinary products and taste buds. KFC has a strong social profile so it can communicate and interact with its consumers while learning more about its products and services. KFC makes extensive use of its restaurants to sell new products.
KFC’s marketing strategy evaluates the brand using the marketing mix concept, which includes the four P’s (product, price, place, promotion). innovative product; pricing strategy; Advertising plan etc. are examples of marketing strategies. These KFC business strategies based on the marketing mix contribute to the success of the brand. Below is a mind map for analyzing KFC’s marketing mix.
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KFC is a well-known restaurant business that is present in almost all markets of the world. It provides high quality products at low prices and satisfies customers with fast delivery of its specialty products.
We can see that KFC’s philosophy and methods are well planned and implemented in the above case study of 4P of marketing mix. Thanks to these technologies, KFC has become something that the whole world wants to recognize. The restaurant location is a brilliant concept that has managed to attract visitors from all over the world.
Therefore, We hope that you have all the information about the KFC 4P marketing strategy and how to analyze your own business or company. Creating a mind map for your marketing mix strategy is the best way. It provides many tools and options to create a very beautiful and informative mind map, so you can easily create one yourself. You also have a ready-made marketing mix template that you can edit to your liking for faster work, as shown below. You can add bright colors and different stickers to make it attractive and interactive. Chicken lovers are growing every day. But is the chicken you eat really healthy? Does it have no harmful chemicals? Seriously, the Quality you get from street stalls is way below acceptable. This “Kentucky Fried Chicken”, which began as a street restaurant in America, became popular during the Great Depression. Soon, KFC opened franchise outlets everywhere. Later, thanks to globalization, we even had the opportunity to taste chicken of a healthy standard. This affordable and healthy brand has captured the market like no other. Their secret recipe has become a hit among fried chicken lovers and is very popular in India and abroad.
Like any brand, they need effective marketing strategies to promote the product and increase sales. Therefore, In this blog, We will introduce you to the marketing strategy of KFC. Let’s start with the introduction of the brand:
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KFC stands for Kentucky Fried Chicken. Kentucky, is an American fast food restaurant chain headquartered in Louisville that specializes in “fried chicken.” Founded on September 24, 1952 by Colonel Harland Sanders, this subsidiary of Yum has taken the global market by storm. Some of its best products include rice bowls; zinger chicken burgers; Flamed Chicken Wings Veggie Strips Boneless Chicken Wings; long vegetables, Includes popcorn chicken and fries. They even offer plant-based meals. It currently has more than 22,000+ restaurants in 150+ countries worldwide. Offering different menus in different countries (to cater to the locals) has been beneficial. Their signature chicken and similar dishes are made with a magical secret recipe. Its prices are set based on the geographic location of its stores. They follow a differentiated pricing policy. However, KFC products are cheaper in India. Both vegetarians and non-vegetarians are on KFC’s radar. They are usually aimed at the middle and upper class between the ages of 4 and 45. TV billboards, They sell their brand through social networks.
KFC uses various methods to promote the brand among its customers. Learn about different strategies below:
KFC uses AMP technology to send mass emails. Because these emails are a little different from regular emails, it’s hard to get them lost in a customer’s inbox. Well, how? so, This includes order buttons; product round sliders, cartoons, subscription forms; It includes interactive food and more. They segment the audience with this strategy. After knowing the target audience; They customize email campaigns according to their needs. The awareness they create leads to word of mouth, which increases brand profitability.
KFC relies on two content marketing strategies. The first is to create unusual chicken dishes and attract the attention of the media. Second, create really interesting content on free platforms like Youtube. They go for both. Short, simple and interesting content to capture the attention of the audience on different social media platforms. They publish clear and informative content. One thing to appreciate is how the videos are danced in different languages for the sake of the audience. Their content is images, even videos and stories. yes you are right. If you go to global.kfc.com Eid You will find different stories related to holidays like Diwali, Not only that, they even give recipes of their famous dishes.
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There is no denying the fact that KFC has stepped into online and offline media. It’s about their offline presence. KFC serves more than 150 countries and territories with more than 22,000 outlets. They have reached all corners of the world. Apart from urban areas, KFC is clearly reaching out to suburban areas in countries like India.
When it comes to his online presence; KFC has its own website where customers can make purchases online. With the introduction of the website, their profits increased significantly. Plus it ships surprisingly fast on its own. Apart from this, Zomato and Swiggy also have the same.