KFC Marketing strategy – Marketing strategy of KFC: KFC is the 2nd largest fast-food chain in the world and the largest chicken restaurant by sales. It’s the brand from the parent company Yum. brand. KFC’s original recipe for fried chicken has been around since the beginning of its existence, and it still delights customers 75 years later. !.
KFC employs 750000+ people and serves delicious, fresh fried chicken in almost 18000 locations around the globe in 120+ countries.
KFC At A Glance – Marketing Strategy of KFC
Company : KFC Corporation
CEO: Sabir Sami
Founder: Colonel Sanders | Pete Harman
Year founded: 24 September 1952, Salt Lake City, Utah, United States
Headquarters: Louisville, Kentucky, United States
Annual Revenue: US$5.65 billion
Profit | Net income: US$2.27 billion
Number of employees : 1.5 million
Products & Services: Fried chicken | Hamburgers | Chicken sandwiches | Wraps French fries | Soft drinks | Milkshakes | Salads | Desserts | Breakfast
KFC Fun Facts: KFC has a secret chicken recipe and it’s been that way for decades. The KFC secret chicken recipe is kept in a vault at the company’s headquarters in Louisville, Kentucky.
Marketing Strategy of KFC
KFC’s Marketing Strategy covers various aspects of the business right from segmentation and targeting to the overall mission and vision of the company and the various parameters which the company executes to become the top brand that it has in the market. So what is the Marketing Strategy of KFC? Let us discuss.
Segmentation, Targeting, Positioning – KFC Marketing Strategy
KFC (Kentucky Fried Chicken) uses demographic segmentation to cater to the market according to the customer’s wants and needs. KFC’s customers include young and old.
It used to offer the same menu around the globe, which meant that it was not using a differentiated targeting strategy. KFC has been localizing its menu in recent years, following McDonald’s model. This makes it more popular in the market. It has also changed its positioning strategy to be value-based, instead of the product.
KFC’s Chicken Menu is a strong selling point. Very few restaurants offer vegetarian options. KFC is a great choice for non-vegetarians. KFC is known for its chicken wings and chicken bucket. KFC is known for its excellent targeting techniques.
KFC Mission Statement
To serve finger-lickin’ good food to all our customers!
KFC Vision Statement
“To sell food in a fast, friendly environment that appeals to price-conscious, health-minded consumers.”
Competitive Advantage – KFC Marketing Strategy
KFC’s original recipe for fried chicken has been the driving force behind its success over the past 75 years. It uses a secret blend of 11 herbs and spices. KFC offers a wide range of food options to customers. KFC now has Vegetarian food items, which has allowed KFC to increase its customer base and sales volume.
The company’s presence in developing and developed countries is crucial in helping it to strategize its future growth plans. It also gives them exposure & experiences which are essential elements in the success of the fast-food industry.
BCG Matrix – KFC Marketing Strategy
These menu items are the stars of Hot Wings, Sandwiches, and Grilled Chicken.
Other menu items, such as veg, desserts, and chicken (including burgers), are also questionable since KFC cannot distinguish itself from other fast-food restaurants like McDonald’s or local fast-food joints.
Distribution Strategy – KFC Marketing Strategy
KFC is one of the most popular fast-food chains in the world with over 18000 locations.
KFC believes in maintaining its outlets in high-end areas, as well as shopping malls and shopping centers. KFC outlets are also able to deliver online orders. KFC can deliver online as well as offline orders.
Brand equity – KFC Marketing Strategy
KFC currently ranks 147 in the global brand ranking tables. The company’s positive brand positioning has been a key factor in generating top-of-mind awareness (TOMA). It has now introduced the Veg menu as well as a localization strategy to cater to the left-out segment, which will aid in its brand building.
KFC’s ongoing branding initiatives that include the above and below marketing strategies are another factor that helps.
Competitive Analysis – KFC Marketing Strategy
KFC faces strong competition from McDonald’s and kokoriko as well as kyochan and other national fast-food chains. KFC is also being challenged by local fast-food restaurants in developing countries. Different fast food outlets in developed countries are stealing market share from each other.
KFC’s main competitors are McDonald’s and Subway. Both are in the burger market, and Subway also offers sandwiches. Subway has yet to fully realize its distribution potential, but KFC and Mcdonald’s are constantly at odds with their global reach.
Market Analysis – KFC Marketing Strategy
Although it sells more than half of its products in developed countries, the markets are experiencing stagnant growth, and developing nations such as India, China, and many other countries have great potential for KFC.
Although the market is growing, fast food chains are not well-received in developed countries. The market dynamics will only be shared by developing countries as the developed nations become more health-conscious.
Customer Analysis – KFC Marketing Strategy
KFC customers are people of different ages who love to eat delicious, crispy chicken. The majority of customers are young adults or youngsters who can afford a tasty meal but don’t mind spending a lot.
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