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KFC position in China is one of its main strengths as China’s fast food market is growing steadily. Strategic Planning Process of KFC KFC is one of the first fast food chains in the U.S. and also among the first to expand globally. 2013). Financial Analysis * The company in 1995 purchased ... market price”. • Specific. They’re the best in the world with their premium assistance and originality. People have become more health conscious. ... What is a strategic plan? KFC is a good marketer and markets its brand from various social media platforms. Hence, the market penetration strategy can help in doing the same by placing the existing products before the new target market. KFC serves fried chicken as its fried product . It is expected that the marketing audit is formatted as a series of topics with a succinct description of the topic/concept, why this is important to study, and how the topic will be measured. Brands since 1997 when that company was spun off fromPepsiCo as Tricon Global Restaurants Inc. KFC primarily sells chicken pieces, wraps, salads and sandwiches. The marketing plan would be developed based on the two new business strategy of market penetration and product development. Product Development: The changes in the demography and the lifestyle of the people has brought changes in the buying process. KFC should focus on extending the healthier options by including more veg items and calorie-free items to the customers. Naturally, ... lower price option, the ... retain its market share. 2799 words (11 pages) Essay. This helps the brand to better address the needs and the wants of the customers. Why choose KFC? However, in recent times, following McDonalds example, KFC has started localising its menu, giving it better acceptability in the market… The 4Ps Marketing Strategy of KFC KFC operates in a competitive market and must utilize 4ps marketing mix to allow it remain ahead of its competitors in the industry. After all, as the Economist John Maynard Keynes once said, “In the long run, we are all dead!” When objectives satisfy the above criteria, there are many benefits for the organization. When he arrived he was amazed to find a much more developed country than he imagined. In case, the results are positive then the marketing plan would be successful and if contrary then corrections and alternations would be made (Perreault, Cannon & McCarthy, 2011). KFC is the globally reputed fast food chain; it has the variety of branches in the world. The HR d. Introduction: In this assignment I select the KFC & I am in view of myself as HR higher manager. … To facilitate ... Strategies exist at several levels in any organization – ranging from the overall business (or group of businesses) through to individuals working in it. Fried chicken fast-food chain KFC’s entry into Africa was more a coincidence than part of a strategic plan. which have helped the brand grow. With KFC’s strategic franchising, they have partnered with Rostik which is a strategic alliance formed in 2005 between Rostik Group and Yum! Kentucky’s Fired Chicken popularly known as KFC is an American multinational fast-food restaurant that is renowned for its fried chicken. Introduction • Based in Louisville, KFC Corporation is the franchisor of the world's most popular chicken restaurant chain. Find out more about the world's favourite chicken restaurant and our ambitions to have over 1,000 restaurants in the UK and Ireland by 2020. In K… get custom paper. (Find a price that suits your requirements), * Save 10% on First Order, discount promo code "096K2". This is not an example of the work written by professional academic writers. • Realistic. 3. _ Choice and strategic choice refer to the process of selecting one option for implementation. The control measure that can be used in this case is illustrated below: Figure 2: Control Measures for the KFC Marketing Plan, (Source: Perreault, Cannon & McCarthy, 2011). KFC has negative publicity for offering unhealthy food as the items are fried, and hence they have high fat and calorie content. KFC utilizes the above marketing criteria to divide its market into various segments. Unless consumers have loyalty to a certain brand, they usually pick the product with the lowest price. Website optimisation is essential for KFC as it is a marketing tactic and it would help to develop the connection with the public. ... BI strategy and structure to follow over the life of the IT strategic plan. KFC has always focused on the penetration and diversification strategy. This is a tool that provides a framework for strategic planning and enables the marketers and the management of business organisations to formulate strategies for the future growth of the organisation (Hussain, Market penetration deals with the selling of the product or the service in the particular market (Hussain. It should decide: Whether the company wants to make the product available to targeted customer segments through its channels, or it needs a distribution partner to serve the customers' needs. This should be acknowledged in a statement of purpose and general instructions at the beginning of the document. ... McChicken while KFC was all the while testing its own particular chicken sandwich. Case Study Strategic Management KFC Holdings Malaysia Berhad PESTEL and 90,000+ more term papers written by professionals and your peers. Social media channels provide attractive opportunities of marketing and growth. Identify, prioritise and assess the Club’s significant risks and establish a framework capable of addressing those risks. Academia.edu is a platform for academics to share research papers. It is expected that the marketing audit is formatted as a series of topics with a succinct description of topic or concept. Understand The Principles of Strategic Marketing In practice, a thorough strategic management process has three main components, shown in the figure below: This is all about the analyzing the strength of businesses’ position and understanding the important external factors that may influence that position. Strategy is management’s game plan for strengthening the performance of the enterprise. KFC can work on their corporate social responsibility through sponsoring events. In this case, the business strategy for KFC would be assessed based on the Ansoff Matrix. KFC has invested in the technological development strategies for training and improving the efficiencies of their employees. As of 2020, there are several marketing strategies like product/service innovation, marketing investment, customer experience etc. Graduate should be able to demonstrate a comprehensive understanding of the business-marketing planning process. KFC original chicken recipe is a trade secret and a source of comparative advantage against firm’s competitors. KFC has made wave after wave in the marketing community due to its resounding success in China. When drafting a Franchise Business Plan for a KFC restaurant, there are several issues to address: Initial Investment The minimum financial requirement to open a KFC restaurant in the U.S. is $1.5 million net worth and $750,000 in liquid assets. Free Samples and Examples of Essays, Homeworks and any Papers. Strategic planning is a management tool, as with any management tool, it is used for one purpose only: to help an organization do a better job - to focus its energy, to ensure that members of the organization are working toward the same goals, to assess and adjust the organization's direction in response to a changing environment. USA is a member of UN, and hence the business development expansion process has been more comfortable in the member countries. KFC is a global company with a diverse and ever-changing workforce, faces significant challenges in operating their businesses internationally but they faces those challenges strategically, adapt with policies to these markets. KFC always support the work of research ; development in … Actionable– This criterion is employed by KFC to determine whether the marketing programs in place will be adequate for the selected market segment.. How KFC Utilizes Segmentation Theory. In essence, it must be challenging but doable. It is one of the market leaders in the fast food industry. The last few years have been quite tough for the business due to the increased consciousness of healthy food and the brand’s increased distance from its core values (Dan, 2018). Business Unit Strategy – is concerned more with how a business competes successfully in a particular market. KFC (Kentucky Fried chicken) uses demographic segmentation to serve the market as per the customer needs & wants. 2. Outside North America, KFC offers beef based products such as hamburgers or kebabs, pork based products such as ribs and other regional fare. Every new KFC will bring with it a range of local investments - in jobs and award winning training, cutting-edge restaurant design plus a commitment to work alongside local partners to make a real difference in every community through our charity work and food donation scheme. Strategic Management. [suggestions below], Some topics may require a qualitative response, others may require a quantitative measurement. Hence, segmentation and identification of the target and the forming effective positioning strategy are essential. The new advertisements about the new outlets in Brazil and Argentina and the new healthy food items would increase the awareness of the customers. Marketing Analysis – KFC Introduction KFC operates in 74 countries and territories throughout the world. The company was founded as Kentucky fried chicken by Colonel Harland Sanders in 1952, though the idea of KFC’s fried chicken actually goes back to 1930. Additionally, Yum! Both the male and females are targeted. KFC for its penetration and product development strategy can make use of the following marketing tactics and actions: The management of KFC needs to develop control measures to ensure that the marketing plan is successful. This STRATEGIC PLAN AND OPERATIONAL PLAN KFC has strategic planning to increase its market worth value of the market and its market share. Business objective: To craft a document that can be employed to perform a marketing audit of the situational factors facing an organization. Corporate Strategy – is concerned with the overall purpose and scope of the business to meet stakeholder expectations. Introduction:-KFC is a leading brand in Yum Brands’ portfolio. This has declined the sale of the brand. Discussion Questions 1. . KFC has focused on improving their presence in Brazil and Argentina. Read KFC Success Story: KFC Corporation – The Making of a Global Business from the ground Floor Recommended Put your business on the path to success with a solid plan created with Business Plan … The organisation was established in 1952 and presently has more than 40,000 outlets all around the world in about 130 countries. The strategy covers the year to 27th December 2020. The secret recipe of KFC includes '11 Herbs and Spices' has helped the business to grow and develop. Far and away the country’s most popular American fast food chain, the company is seemingly bulletproof when it comes to its performance with Chinese consumers. KFC can develop the customer portal to influence the customers and the fans to share the positive sentiments about the new products or the outlets of the business. Corporate strategy is often stated explicitly in a “mission statement”. The organisation has an operational plan that clearly states the actions to implement goals and strategies identified in the strategic plan.Your organisation has completed the strategic planning process. What is tactical planning? KFC’s Operation Strategies By- Palash Goyal 2014MBA-15 5/26/2016 1 2. A KFC outlet in Nigeria. The stable government of USA has supported the growth of the business. The source material is themarketingconcept [e-book] and themarketingconcept [student guide]. Innovation and technologies are essential to establish the CRM and make KFC more customer-centric. KFC can advertise about the new product lunch in the social media sites. You … KFC’s has to provide customers with quality food at a low price with a focus on the speed, service and cleanliness they received while patroning one of their restaurants. While Facebook offers attractive reach, Insta offers nice level of engagement and YouTube provides great opportunities of video marketing and sharing educational and informational videos. The perception of the customers about the new launches and the new outlets would be acquired through a survey. We shall adopt the following definitions. The market penetration strategy of KFC has also included the people of the rural areas as the new customer segment of KFC. Discuss the consumer decision making process for a product such as canned/packaged tuna and the response hierarchy model this is most likely to be applicable in the purchase of this product. Read KFC Success Story: KFC Corporation – The Making of a Global Business from the ground Floor Recommended Put your business on the path to success with a solid plan created with Business Plan … Human Resources and Strategic Planning at KFC. Disclaimer:The reference papers provided by AbcAssignmentHelp.com serve as model papers for students and are not to be submitted as it is. The revenue of the business reached $13 billion in the year 2012 (Kfc.com, 2018). Learning objective: To ensure that students study and understand how the marketing concept, a marketing philosophy, the 3 mega-marketing concepts, the 9 objectives of a marketing practitioners will assist marketing practitioners during the business-marketing planning process. * Critical Success Factor Analysis – a technique to identify those areas in which a business must outperform the competition in order to succeed. The residents of the small and the big cities are the primary target of KFC. First, They help to channel employees throughout the organization toward common goals. Introduction To evaluate and analyse a "professionally made" marketing plan requires the evaluator, to very critically and closely point out the strengths of the plan, yet also point out parts of the plan that are irrelevant or are in need of improvement (weaknesses). All rights reserved. At the heart of any business level strategy is the objective ... suits their strategic plans. Hence, sponsoring campaigns and events on health and wellbeing and obesity prevention will not only increase the goodwill but would increase the trust of the customers and increase sales. The organisation serves 12 million customers every day globally. Business Intelligence and the Retail Environment Historically, retail organizations ... data; market basket analysis capabilities; ... meet the objective of ... Tire Options MasterCard ... ... and business level strategies and continues to evaluate their SWOT analysis they ... strategic alliances with many of its retail partners in selected markets. The new outlets of KFC through franchisee would help to reach out to new customers by selling more existing products and thereby gain the market share. In case, the results are positive then the marketing plan would be successful and if contrary then corrections and alternations would be made (Perreault, Cannon & McCarthy, 2011). Here you can order a professional work. KFC needs to change their food items based on their food item. Strategic marketing managment on KFC Presented by:Ashfaq ahmad To Sir shahzad khan ID:5161 CITY UNIVERSITY PESHAWAR. The new healthier product line that would be launched can be advertised on different websites along with a link, a click on which can bring the customers to the main page of KFC. 2. These papers are intended to be used for research and reference purposes only. Business strategy can also be termed as long-term business planning. Kfc, Strategic Planning And Operation Planning Of KFC Kfc's Big Game of Chicken. This is a tool that provides a framework for strategic planning and enables the marketers and the management of business organisations to formulate strategies for the future growth of the organisation (Hussain et al. Considering the present situation, the new business strategy of KFC has been illustrated in the figure below: Market Penetration: Market penetration deals with the selling of the product or the service in the particular market (Hussain et al. The economic freedom of the country is low because of the development in other countries. I was genuinely surprised with the services provided by ABC Assignment Help! Strategic Objectives. Most of strategic objectives are directed toward generating greater profits and returns for the owners of the business, others are directed at customers or society at large. 2013). The marketing audit should also consider the 9 key objectives of marketing practitioners. People have more conscious about their health, and hence they preferring calorie-free and fat-free food. Operations in Mexico are given emphasis in the case. Positioning: Taco Bell has its focus on the health-conscious youth and has even started offering healthy fast food and to bring this positioning strategy, the number of changes has been made in the business strategy.Taco Bell has started to experiment with its food options with the nutritious menu with healthy breakfast options which were a big hit. Task: Students are to complete a comprehensive marketing audit - identifying the key considerations that a marketing practitioner would explore when undertaking a marketing audit. 3. . Why this is audit. This resulted to increase and growth of KFC in terms of sales, profits, and international markets coverage. It is recommended to KFC to create ‘Try Healthy, Be Healthy’ campaign in which new healthy products would be launched. ... was, strategy x capability x capital = sustained profitable growth. _ An option is a course of action that it appears possible to take. Business strategy can also be termed as long-term business planning. KFC Global (strategic Planning) by alaa mohamed. A unique marketing team would be developed for establishing the concepts and carry out the marketing tactics and also collect data at the end of the marketing. • Measurable. This is a crucial level since it is heavily influenced by investors in the business and acts to guide strategic decision-making throughout the business. The entry to that market with a chosen method of distribution and known way of acquiring necessary distribution resources—in fact, a complete business plan of how to enter the new market. Securing Higher Grades Costing Your Pocket? The operation plan for the marketing would include certain factors which are discussed in this section: Copyright © 2020 AbcAssignmentHelp.com. ... Business strategies are the actions management take to execute a business model. In the late 1960s, the CEO of KFC’s holding company at the time visited South Africa on a safari with his family. Facebook, Twitter, YouTube, Instagram and Snapchat has increased the accessibility of the business towards the customers. Voice-activated training, Amazon Echo show and the online food ordering are some of the technological development of the organisation, (Restaurant Business, 2018). The new target market of KFC includes the customers form 6-75 years, brand and luxury lovers and the health conscious people. I was in urgent need of Sample papers for my research work and when I inquired about the best place to take it from a set of teachers they pointed at ABC Assignment services and I went about signing into it. KFC is the subsidiary of the Yum Brand, and the organisation follows the franchise business model that has led to the widespread expansion of the business. April 2016; DOI: 10.13140/RG.2.1.3090.4722. In order to fund its ongoing expansion plan, the manage-ment is looking to raise USD 7 Million to part fund its global expansion plan from strategic investors and committed to provide attractive returns to the investors. KFC is a fast food restaurant chain, which specializes in fried chicken. 2013). The bad suppliers often betray the trust of the brand. It must be an achievable target given the organization’s capabilities and Opportunities in the environment. The lack of practical business and the corporate strategy resulted in the decline of the sales. As of 2020, there are several marketing strategies like product/service innovation, marketing investment, customer experience etc. It is one of the famous trade secrets. The internal analysis of the organisation can be done by assessing its strength and the weakness as is evident in the table below: The external analysis can be done through the evaluation of the external opportunities of the threats and weakness. There must be at least one indicator (or yardstick) that measures progress against fulfilling the objective. In KFC, the process of strategic planning and the operational control is critical. Increasing competition in the market is one of the significant threat to the business. It states how business should be conduct to achieve the desired goals. The franchise business model of KFC has led to the growth and the development of the business. The funds raised will be fully utilized to set up own outlets and develop franchise model to maximize its revenue and growth. The simplest form of choice is therefore between taking an option and not taking it—doing it or not doing it. KFC should develop this product line, and this can increase their reach towards the customers. The government of the countries frame pricing policies which KFC needs to maintain considering the income distribution of the people. continues to use the abbreviated name freely in its advertising. They work on a well defined strategic planning for this. By comparison, McDonald’s has … KFC is the globally reputed fast food chain; it has the variety of branches in the world. Their samples are top notch with experts who are very skillful and student friendly and has such rich content in their writings and I found it very helpful indeed and felt very useful as well. The process of Strategic Analysis can be assisted by the number of tools, including: * PEST Analysis – a technique for understanding the “environment” in which a business operates. The people who are conscious of their health are the new customer segment of KFC. The following marketing plan of Kentucky Fried Chicken (KFC) describes as a major Quick Service Restaurant (QSR) operator in UK .It mainly serves chicken related items with some side dishes.KFC competing the competitors ‘and maintain a strong relationship with its customers under consideration of its Macro and Micro environment very efficiently . In this case, the business strategy for KFC would be assessed based on the Ansoff Matrix. • Appropriate. KFC has focused on improving their presence in Brazil and Argentina. KFC position in China is one of its main strengths as China’s fast food market is growing steadily. While its primary focus is fried chicken, KFC also offers a line of grilled and roasted chicken products, side dishes and desserts. The process involved Strategic Priorities Strategy, Risk and Governance Identify, prioritise and assess the Club’s strategic threats and opportunities. To create awareness among the customers and create goodwill in the market, To increase the sales of the organisation by 10%, Teece (2010) commented that business strategy is the means through which it attains the desired objectives. Their writers are highly qualified and don’t leave a single thing unnoticed. Customer Relationship Management (CRM) is essential to establish a connection with the customers (Heller Baird & Parasnis, 2011). McDonald’s tries to achieve this by applying the five P’s: People, products, place, price and promotion. Answer (1 of 3): McDonald’s strategic plan is called ‘plan to win’. b) Research ; Development: Research ; Development is also an important factor in the Technological factor. The plan is an output of a process that was quite engaging and involving intense consultations with a variety of internal and external stakeholders. Technology has also helped to improve customer service. The Plan is the result of an intense and rigorous process of consultations with internal and external stakeholders, environmental scanning and performance review of the organization’s 2nd Strategic Plan (2014-2017). Business Intelligence and the Retail Environment Historically, retail organizations have ... that needed to be addressed in order to meet the objective of bringing IT spending as a percentage of sales ... begin analyzing data like a retailer going beyond the store level to examine product, store and margin trends. The changes in the demography of the population of USA has changed the eating habit. The company was founded as Kentucky fried chicken by Colonel Harland Sanders in 1952, though the idea of KFC’s fried chicken actually goes back to 1930. The new outlets of KFC through franchisee would help to reach out to new customers by selling more existing products and thereby gain the market share. KFC can penetrate in the market of Brazil and Argentina by increasing the number of outlets. The process involved * Directional Policy Matrix – a technique which summarizes the competitive strength of a businesses operations in specific markets.

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