Establish and adjust the markrting mix Essay

1. Research Your Choice of organizationKentucky Fried Chicken (KFC)- one of the most known fast nutrition for thought chains in the world started in the early 1930s by Kernel Sanders in the Southern USA as a small immunity operation. Colonel Sanders has become a well-known personality throughout thousands of KFC restaurants Worldwide. Quality, service and cleanliness (QSC) represents the most critical success factors to KFCs global success. KFC has a twist of ambitious aims and objectivesTo annex its percentage sh ar of the fast-food mart.To improve profit margins year-on-year to fund the growth of the company. To return profit on investments to owners and franchisees. The way that KFC reaches these orchestrates is decided by the companys congenital strategy and objectives. phoner and Marketing Strategy Partnering to build customer relationships a. Marketing StrategyKFC used the Demographic Segmentation, Geographic segmentation, and Psychographic segmentation. In demographic segmentation, the market place is shared out into groups based on an age, gender, family size, income, occupation, religion, race and nationality. KFC divides the market on demographic basis in this way Age is between 6-65.Gender is both males and females.Family size is 1-2, 3-4, 5+Income is Rs 10,000 n above.Family lifestyle is almost all.KFC has outlets internationally and sells its products according to geographic needs of the customer. In India KFC focuses how geographically its customers demand different products. In north India Chicken is the briny selling product, while in the south the Veg. items sell more than the chicken. Dividing a market into different groups based on social class, lifestyle, or personality characteristics is called psychographic segmentation. KFC divides market on the basis of psychographic variables likeSocial class- Upper and Middle class.Lifestyle is not specific.Personality is ambitious and authoritarianb. Target MarketingAs the outlets of KFC ar e in posh area and prices are too high (overhead expenses-rent, air-conditioning, employees), so KFC targets upper and middle classes. Target market depends upon size and growth rate of population, Company resources and structural attractiveness of market segment. c. Market PositioningFor a product to occupy a clear, distinctive and desirable place relative to Competing products in the minds of target consumer. In KFC feedback is taken from the customer in order to know the customer demands and then improvements are made in products. KFC focuses on pure and fresh food in order to create a distinct and clear position in the minds of customers KFC has a strong brand name and they are leading the market in fried chicken. 2. Identify the Key Characteristics of their products and services and their significance to the market. Product LineKFC product line includes all chicken based products.BurgersThe burger category includes the Zinger Burger, Colonels Chicken Burger, Colonels Fillet Bur ger, SUB60 and 80, and Zinger Jr. They have also introduces a Fish zinger burger.Chicken PiecesThe chicken involved the product line with different number of chicken pieces like 1 piece, 2 pieces, 5 pieces and 10 pieces chicken. CombosThe combo includes the different meal as Chicken Meals, Sandwich Meals and Family Meals.Desserts & BeveragesThe desserts and beverages offered by KFC are production Salad, Regular & Large Drink, Regular & Large Mineral Water, Tea, Scoop of Walls Ice cream and Coffee.Snacks & Side OrdersThe snacks and side orders served by the KFC are Arabian Rice, 5 & 10 Pieces Hot wings, Dinner Roll, Regular & Large Fries, Hot Shots, and Corn on theCob, Hot & Crispy Soup and the Cole Slaw. 3. Review pricing policy and prove pricing variables to determine their effect on demand.