KFC, conjointly referred to as Kentucky Fried Chicken is an American fast-food restaurant headquartered in Louisville, Kentucky, that makes a speciality of deep-fried chicken. It's the world's second-largest chain (as measured by sales) after McDonald's, with 22,621 locations globally in 136 countries as of Dec 2018. The chain is a subsidiary of Yum! Brands, a restaurant company that conjointly owns the pizza Hut, Taco Bell and WingStreet chains.
KFC was once centered by way of Colonel Harland Sanders, an entrepreneur who commenced selling fried chicken from his roadside restaurant in Corbin, Kentucky, throughout the Great Depression. Sanders recognized the viable of the restaurant franchising concept, and the first 'Kentucky Fried Chicken' franchise opened in Utah in 1952. KFC popularized chicken in the fast food industry, diversifying the market via challenging the established dominance of the hamburger.
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By branding himself as 'Colonel Sanders', Harland grew to become a distinguished figure of American cultural history, and his picture stays widely used in KFC advertising to this day. However, the company's speedy expansion overwhelmed the getting old Sanders, and he sold it to a group of buyers led through John Y. Brown Jr. and Jack C. Massey in 1964.
KFC was one of the first American quick food chains to enlarge internationally, opening stores in Canada, the United Kingdom, Mexico, and Jamaica via the mid-1960s.
The Target Market
KFC target groups such as teenagers, young adults and families. For teenagers, they love the smell of chicken overall and in case some of them are vegetarian, KFC has menus that cater for them as well. Moreover, young adults who are coming from work tired and don’t have the time to prepare a meal can just stop at KFC and get a fast and ready meal that can satisfy them. This is why KFC is always packed in the nights especially on weekends.
Over the years the company desired itself to be perceived as a family restaurant and has been running campaigns communicating the same. Many families have a culture where they can go out to spend time with each other while having a good meal whether once a week or once a month. KFC is famous for there Fried chickens. In addition to, KFC has affordable prices which consumers can buy whether rich or poor.
Product
KFC is one of the most famous fast food joints in the world, with an exceptional burgers’ specialty. KFC is synonymous with fried chicken, challenging the hamburger fast food market that has been installed. The exclusive service is fried chicken flavoured with eleven ingredients secret seasoning. Extra Crispy Chicken, home-style sides and buttermilk biscuits are other KFC specialties. KFC expanded its menu in 1990, selling other chicken recipes such as chicken fillet burgers and wraps, salads, potato fries, desserts and drinks. KFC has tailored its regional and demand-based brand choices.
As a part of its promotional mix brand plan, KFC has over 300 exclusive menus in different areas around the world. Hot and Crispy Chicken, Fiery Grilled bucket options, Chicken Zinger Burger, Rice Bowls have been introduced in India. The chicken eaten in the Middle East and Islamic countries is halal. KFC has a long association with McCormic Company for the essential components of products such as sauces, marinades and seasonings. Since it had association with PepsiCo, on the other hand, most of the liquids served in KFC are from Pepsi, in some geographies there are exceptions.
Price
KFC's menu is presented at low-cost prices and inventive strategies have been adopted to compete in one-of - a-kind markets. KFC's revenue was $23 billion in 2013. KFC's parent brand is on Fortunes ' 201th listing position with revenue in excess of $13 billion. The target section for KFC is higher-class or middle-class families of young people in an urban and semi-urban area.
The costs were higher when it entered the market, which was later gradually reduced to target lower income groups. Therefore, the rate is similar to the competitors. KFC presents pricing differentials. As well as sets or packages, the products are available as individuals. In contrast to the combined charge of all products, the price of bundles is lower. In rate-sensitive markets such as India, it is particularly rewarding.
Place
KFC's founder recognized the importance of franchising, and in 1952 he opened the first KFC restaurant in Utah. The world's outlets were later opened in the 1960s in Canada, the Us, Mexico, and Jamaica. KFC headquarters is located in Kentucky, Louisville. Today KFC is present with over 20,500 outlets in 125 nations worldwide, reflecting its strong marketing mix position strategy. In 1987, It was the first Western Restaurant to open in China, and there it remains sturdy.
Usual day-to-day average outlet orders are 250, many of which are fulfilled for peak hours. For some of the world's places, such as multicultural country Malaysia, promotional offers are launched on unique occasions such as the Chinese New Year. KFC's selected locations are state of the art and are selected following a lot of deliberation.
Promotion
KFC has a website as properly as the presence on social networking websites such as Facebook, Twitter, Instagram and YouTube. It has also relied on the development of mass media. The KFC advertisements are as stunning as the broadcast media in print. Print media is made up of newspapers, magazines with tempting KFC offers shows, unique offers and prices. It also uses marketing posters and hoardings as beautifully as highways on inner-city roads for advertisements. It is well known for its taglines like ' Finger Lickin Good, ' ' Nobody Does Chicken Like KFC ' and ' So Good ' and they are always used in promotional activities.
It has been estimated that, with the help of 185 million viewers, KFC industrial is seen at least once a week. In India, they have recently added a 5 in 1 meal box that provides more products than competitors. Through Mumbai well-known Dabbawallas, they launched this activity. The box provided through this was also able to offer mobile charging.
References
- MBASkool. (2019). KFC Marketing Mix (4Ps) Strategy. Retrieved from https://www.mbaskool.com/: https://www.mbaskool.com/marketing-mix/services/17502-kfc.html
- Wikipedia. (2019, October 21). KFC. Retrieved from https://en.wikipedia.org: https://en.wikipedia.org/wiki/KFC
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