Yum Brands Marketing Mix: Yum! Brands is an American company known for its speedy food preparation, production, and marketing. Its headquarters is located in Louisville, Kentucky, but it has subsidiaries all over the globe. Yum! Brands Company runs some hotel brands, including KFC, Taco Bell, Yum Restaurants India, WingStreet, Pizza Hut, etc. In India, fast-food restaurants are the most well-known and ahead of many local fast-food businesses. Since its inception around the year 1997, Yum! Brands have become an important player in the fast-food market.
Marketing Mix Of Yum Brands
Marketing Mix Of Yum Brands is brand-based. In Marketing Mix Of Yum Brands, We will Learn About the four key elements of Marketing Mix: products, place, price, and Promotions. By paying attention to the following four components of the marketing mix, a business can maximize its chances of a product being recognized and bought by customers. We will be discussing Yum Brands Marketing Mix. Below is the detailed Marketing Mix Of Yum Brands.
Let’s talk about Yum Brands Marketing Mix.
Yum Brands Main Competitors
- McDonald’s Corp
- Starbucks Corp
- Domino’s Pizza Inc
- Chick-Fil-A Inc
Yum Brands official website: www.yum.com
Product in the Yum Brands Marketing Mix:
Taco Bell is known for its tacos, Grilled Stuft Burritos, the famous Quesadillas, Nachos, and Burritos, among others. As a company of Mexican origin Taco Bell is mostly linked to Mexican food, but it also has a lot of other food styles. Taco Bell alone has at most 5,800 restaurants across the USA that provide customers with great service.
On the contrary, Pizza Hut is famous for its Italian food, bread loaves, pasta, bread, and pizzas. To be popular in the international market, Pizza Hut also does certain local dishes according to the location of the branch. KFC is, in contrast, a type of burger, chicken, and pizza in addition to other meals.
Price in the Marketing Mix Of Yum Brands:
Yum Brand employs the premium slimming and premium pricing strategy. It offers superior quality food items when compared to its rivals. The atmosphere provided by the company is also superior to its competitors’ offerings, which is why customers continue to prefer Yum Brand even when they are using the high-priced pricing method.
Place in the Yum Brands Marketing Mix:
Yum! Brands are sold all over the globe. The company has at least 42,000 locations globally, around 9,900 of which are owned by companies. Rest are franchised, licensed, and non-consolidated affiliates.
In total, Yum! Brands are sold in around 130 countries, making it the largest chain of fast food companies around the globe. Yum! Brands are advertised through various channels based on the area. The business first researches the market and analyzes the requirements of customers requirements choosing the best distribution channel. This means that almost every market segment is addressed.
Promotions in the Yum Brands Marketing Mix:
There’s a marketing strategy that is exclusive to Yum! Brands. This is a method that sometimes reintroduces outrageous ideas to the international market. For instance, the launch of a sandwich launch within the USA by KFC’s Double Down was received with critiques, especially from the media.
The bun-less product that included two chicken patties deep-fried as well as the “secret” sauce, two kinds of cheese melted, and bacon was slammed by a variety of media houses, such as the New York Times, which, through Sam Sifton, criticized the sandwich as “Stunt food” and “new low.” It was awe-inspiring that after such negative criticisms, KFC achieved sales of more than 10 million Double Downs within just a month, which led them to increase the period for which the product was supposed to last.
The above strategy is a product development-cum-promotion strategy that has put Yum brands at the forefront. In line with this, Yum Brands regularly create novel or innovative products. This is evident at KFC. Double Down was one of them. Double Down product created an online buzz so that KFC must launch Double Down in South Korea, Malaysia, Philippines, New Zealand, Japan, and Australia even though it had previously not intended to market it outside of the USA. All Yum Brands have utilized the Double Down method at some point.
Discounts and special offers are usually given to markets, particularly during celebrations. Additionally, discounts are often given to corporate customers, with some the companies like Pizza Hut frequently doing several corporate discounts. BTL activities like newspapers, lollipop hoardings, and even guiding potential customers to their stores are often used.
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