Professional Documents
Culture Documents
5882 , SEC- C
1)Faster Cash Flow Knowing who your customer is, what they need, and where to
find them is vitally important. Targeting the right people is crucial for generating
cash flow in the shortest time possible.
Positioning your product for greatest exposure, while creating an image of quality
and value for your product, allows you to become a serious player.
More than two billion of the Colonel's "finger lickin' good" chicken dinners are
served annually. And not just in North America. The Colonel's cooking is available
in more than 82 countries around the world. In the early 1950s a new interstate
highway was planned to bypass the town of Corbin. Seeing an end to his business,
the Colonel auctioned off his operations. After paying his bills, he was reduced to
living on his $105 Social Security checks. Confident of the quality of his fried
chicken, the Colonel devoted himself to the chicken franchising business that he
started in 1952. He traveled across the country by car from restaurant to restaurant,
cooking batches of chicken for restaurant owners and their employees. If the
reaction was favorable, he entered into a handshake agreement on a deal that
stipulated a payment to him of a nickel for each chicken the restaurant sold. By
1964, Colonel Sanders had more than 600 franchised outlets for his chicken in the
United States and Canada. That year, he sold his interest in the U.S. company for
$2 million to a group of investors including John Y. Brown Jr., who later was
governor of Kentucky from 1980 to 1984. The Colonel remained a public
spokesman for the company. In 1976, an independent survey ranked the Colonel as
the world's second most recognizable celebrity.
Situational analysis
1
KFC restaurants offer fried chicken products and also offer non-fried chicken-on-
the-bone products including Original Recipe, Extra Tasty Crispy and Tender
Roast. Other items include Chunky Chicken Pot Pies, Colonel's Crispy Strips, and
various chicken sandwiches. KFC restaurants also offer a variety of side items,
such as biscuits, mashed potatoes and gravy, cole slaw and corn, as well as desserts
and beverages. Their distinctive packaging includes the "Bucket" of chicken.
KFC's worldwide system sales grew faster than the industry average even though
the number of restaurants in its global system did not materially increase. This
growth was largely due to the impact of new products. 2 U.S. growth was not as
fortunate. Competition from sandwich chains, as well as consumer demand for a
wider variety of menu offerings, has forced KFC to reanalyze its product strategy.
KFC needs to focus on improving product offerings and serving their product
faster and with better service to consumers.
KFC is part of a larger corporation, Tricon Global Restaurants. Tricon also owns
Pizza Hut and Taco Bell, among others. Tricon has a clearly identified purpose that
applies to their food business units: sustainable sales growth. 3 To help support this,
the company has a target of creating 750,000 Customer Maniacs, defined by the
company as a “team members who are obsessed to go the extra mile to make sure
we put a YUM on our customer’s faces every time they eat our food. This is the
key to sales and profitability.” 4 The company does not have a clear mission
statement or defined core competencies. Their stated goal: “Our passion is to put a
YUM on people’s faces around the world….we offer that special eating experience
that makes you smile and creates lifelong customers. We’ll do that with: food you
crave…comeback value…and customer-focused teams.
Swot analysis:
2
strenghts
Brand Equity
2nd Only to McDonald’s in Foreign Sales $550M
Strong Cash Flows
Generate $1B each year
Very strong Internationally
UK, Middle East, Thailand, China, Japan, Korea, Mexico
Weaknesses
Opportunities
Growth of 18-24 age demographic
Increase in U.S. median income
International beef scare from mad-cow and hoof and mouth disease
Home Meal Replacement Market will exceed an estimated $577 billion by
2020
Targeting to growing ethnic markets – Asian American and Hispanic
New Leadership
Domestic markets
Updating restaurants
Balanced menu
Customer focus
Increase delivery service
Threats
Market survey
In this assignment , I have done the market survey of kfc restaurant’s veg
products , because kfc recently starts its veg products in the market. in this study I
have read the profile and the market analysis case studies of the kfc restaurants.in
this study I have collected data from various resources about the customers of kfc
products , kfc services and about the market. In the market survey ihave done also
done a marketing research method. In the marketing research method I have made
a questionnaire and done a market steps in markey survey:
1. Target market – KFC is a restaurant and produces many fast food products .
and its target customers and market is new generation or highly income
holders. As we have studied that kfc was operating in non-veg items , but
now from few months it has started veg products to cater the market.
2. Select the population and size of market survey- for this study , I have
chosen the my population for survey , population of chandigarh’s kfc rest.
Customers and the sample size is 50.
3. Develop the questionnaire- to do the study in a good manner , I have made a
questionnaire , to study about the customers perception to kfc’s products .in
my questionnaire I have 6 questions and all these qus. Are sufficient to find
out the market survey.
4. Analysis and interpretation of data – after the data collection , the next work
is to analyze the data which was colled by various sources. And in the
analysis of data simple techniques are used.
Analysis of data
In the analysis of data , first I have made the data in a systematic manner, and
using many tools to analysis this.
Qus.3. Are you satisfied with the product mix strategies and segmentation of KFC?
From 50 respondents , the 35 respondents given the answer in yes . and 15 in no,
because now vegetarian customers can visit in the KFC .
Qus.4. Are you satisfied with the quality and taste of this restaurant ?
From 50 respondents 40 respondents are like and satisfied with the quality of the
products of KFC.
Qus.5. Have you changed your restaurant after the KFC started its veg products ?
Qus.6. Are u satisfied with the price strategies and advertising of KFC ?
From 50 respondents , 25 respondents agree with the price strategies of the KFC.
Conclusion
After the analysis of data , I have made a analysis of market about the KFC
restaurant’s products . in the analysis we have found that customers like the veg .
products of kfc and they are satisfied with the market and pricing strategies of the
kfc and like the quality of food . but KFC have no any other food chain in near
cities like Patiala , sirhind and many customers from these cities.
QUESTIONNIARE
Name …………………………………….
Age ………………………………………..
Address………………………………………………………………………………
………………………………………………………………………………………
………………………………………………………………………………………
……………………………………………….
Phone
no……………………………………………………………………………………
…………………………………………………………
YES NO
BELOW 20000
BELOW 25000
BELOW 30000
ABOVE 30000
Qus.3. Are you satisfied with the product mix strategies and segmentation of KFC?
YES NO
Qus.4. Are you satisfied with the quality and taste of this restaurant ?
YES NO
Qus.5. Have you changed your restaurant after the KFC started its veg products ?
YES NO
Qus.6. Are u satisfied with the price strategies and advertising of KFC ?
YES NO