ASSIGNMENT OF PROJECT MANAGEMENT

ON MARKET ANALYSIS OF A PRODUCT

SUBMMITED TO: SUBMMITED BY:

DR. LIAQUAT ALI KARAMPAUL SINGH

MBA 2ND (3RD SEM.)

5882 , SEC- C

SCHOOL OF MANAGEMENT STUDIES

PUNJABI UNIVERSITY, PATIALA

What is a project management?

Project management is the discipline of planning, organizing, securing and
managing resources to bring about the successful completion of specific
engineering project goals and objectives. It is sometimes conflated with program
management, however technically it is actually a higher level construction: a group
of related and somehow interdependent engineering projects. A project is a
temporary endeavor, having a defined beginning and end (usually constrained by
date, but can be by funding or deliverables), undertaken to meet unique goals and
objectives, usually to bring about beneficial change or added value. The temporary
nature of projects stands in contrast to business as usual (or operations), which are
repetitive, permanent or semi-permanent functional work to produce products or
services. In practice, the management of these two systems is often found to be
quite different, and as such requires the development of distinct technical skills and
the adoption of separate management.

The primary challenge of project management is to achieve all of the engineering

project goalsand objectives while honoring the preconceived project constraints.
Typical constraints are scope, time, and budget. The secondary—and more
ambitious—challenge is to optimize the allocation and integration of inputs
necessaryto meet pre-defined objectives.
What is marketing analysis of project ?

Market analysis is a documented investigation of a market that is used to inform a

firm's planning activities particularly around decisions of inventory, purchase,
work force expansion/contraction, facility expansion, purchases of capital
equipment, promotional activities, and many other aspects of a company.

The key ateps in marketing analysis……..

 Situational analysis and specification of objectives

 Collection of secondary information
 Conduct of market survey
 Characterization of the market
 Demand forecasting
 Market planning

Market analysis is a necessary part of planning a profitable business. Invest time

in this crucial step now and reap the rewards of a successful business. Conducting
a market analysis will help you:

1. Prepare to enter a new market

2. Launch a new product/service
3. Start a new business

At the completion of this exercise, you should be able to:

 Explain the concepts of a marketing analysis

 Determine if there is a need for your idea or product/service
 Identify a new market
 Analyze your current market
 Gain a competitive advantage
 Begin to establish a marketing plan

Before investing any money in your business, you must gather

information about your potential customers and the demand for your
product of service.This information, or market analysis, is a necessary
part of planning a profitable business. Invest time in this crucial step now
and reap the rewards of a successful business.
BENEFITS OF MARKET ANALYSIS

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.

2)Greater Market Share An examination of current market conditions tells you

who your competition is, the size and location of the market, current competitor
pricing and promotional strategies, and types of market niches which are
underdeveloped.

Positioning your product for greatest exposure, while creating an image of quality
and value for your product, allows you to become a serious player.

3)Reduced Expenses A leading cause of business failure is lack of capital - the

business runs out of start-up funds before becoming profitable. It's important to
make every penny count. You reduce expenditures by trying to predict outcomes
before taking action. There is always a certain amount of risk with any business
venture,however,analyzingyourmarketreducesthatrisk.

In my assignment a want to do the market analysis of KFC’S new products in

veg category:-
KFC operates in 74 countries and territories throughout the world under the
name KFC. Colonel Harland D. Sanders founded KFC in Corbin, Kentucky. The
Colonel perfected his secret blend of 11 herbs and spices for KFC in 1939. 1
Colonel Harland Sanders, born September 9, 1890, actively began franchising his
chicken business at the age of 65. Now, the Kentucky Fried Chicken® business he
started has grown to be one of the largest retail food service systems in the
world. And Colonel Sanders, a quick service restaurant pioneer, has become a
symbol of entrepreneurial spirit.

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

 Strong Franchise and License Fee revenues for cash flow.

 Interactive relationship marketing
 Strong trademarks recipes
 Ranks highest among all chicken restaurant chains for its convenience and
menu variety.
 Largest multibranded restaurant in the world 100 KFC and Pizza Hut combos
600 KFC and Taco Bell combos

Weaknesses

 Recent drop in sales for KFC

 Failed to rank in top 20 in growth in 2000.
 Same Store sales declined
 Lack of point of scale scanning system
 Admitted inability to provide quality service
 Lack of knowledge abut their customers
 Lack of relationship building with employees, customers and suppliers i.e.
Chick-fil-a
 Question of over franchising leads to loss of control and quality
 Lack of focus on R&D

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

 Rated 83 out of 100 in terms of competitiveness

 Increasing wage rates directly affect menu prices
 85% annual employee turnover for fast –food market
 Supermarkets and new competitors threaten HMR market
 International Exchange Rates
 Health Trend away from fried foods
 Changing customer demands
 Quality of Service Focus

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.

And this study is done by me in the Chandigarh KFC restaurant.

Objectives of the market survey:

 1. Find out the perception of consumers of veg products of KFC restaurant.
2. To study the sale figures of KFC restaurant.
3. To study the taste and preference of customers to veg products.
4. To study about the Indian customers to foreign fasd food centers .
5. To find out the its impact on KFC restaurants customer satisfaction.

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.1. What are your perception to veg products of KFC restaurant ?

From 50 respondents , the perception of customers of KFC products is very good

and they are like KFC fast food products and given the answers in yes. And 40
given the ans. In yes .

Qus.2. What are income of customers of KFC restaurant?

From 50 respondents , the income of respondents are:

Below 20000 10%

Below 25000 12%
Below 30000 30%
Above 30000 48%

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 ?

From 50 respondents , 15 respondents given ans.in yes.

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……………………………………………………………………………………
…………………………………………………………

Qus. 1. Are yoouu like KFC’s fast food products?

YES NO

Qus.2. what is your income?

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