In this aspect KFC segmented the market on the basis of taste, quality, and price. In developed nations the different fast food outlets are eating up each other’s market share. KFC initially focused on single segment through Niche Marketing with the offers of Combo Deals, but now the company is focusing on other classes and has increased the target market. Companies need to design a marketing mix to cater to each of these segments. Actually marketing is gardening instead of hunting. Business shifted to a customer centered in which “sense and respond” philosophy concept came in Instead of a product-centered, “make-and-sell” philosophy. For example, In India, KFC … By segmentation company can most probably better design, price, disclose and deliver the product or service to satisfy the target market. These groups can afford higher pricing. As a result, KFC covers both – online and offline deliveries. An important part of the marketing mix is price which customers have to pay to purchase the KFC products. Density wise mainly its presence is in urban and sub urban areas there is no climate specificity. Certain variables are involved in market segmentation; they are age, distance and purchase sizes etc. There is difference in terms of the needs of customers. KFC’s customers give importance to Clean, and comfort, such as the middle income and high income groups. It has 590 outlets in Australia (numberof.net). KFC has an international presence and has a number of outlets in different countries. The market segmentation is divided into four parts (SONDEREGGER, 2011). Geographic Segmentation of KFC. Behavioral segmentation. Segmentation, targeting, positioning in the Marketing strategy of KFC, Competitive advantage in the Marketing strategy of KFC, BCG Matrix in the Marketing strategy of KFC, Distribution strategy in the Marketing strategy of KFC, Brand equity in the Marketing strategy of KFC, Competitive analysis in the Marketing strategy of KFC, Market analysis in the Marketing strategy of KFC, Customer analysis in the Marketing strategy of KFC. To export a reference to this article please select a referencing stye below: If you are the original writer of this essay and no longer wish to have your work published on UKEssays.com then please: Our academic writing and marking services can help you! It is division of the market into different geographical units, for example states, nations, regions, cities, countries, or neighborhood. Its products are mostly aimed at the well off with higher disposable income to spend on premium fast foods. New Hot & Fresh programs are continuously designed to improve freshness and flavor from the kitchen to the counter. Against competitors KFC positions itself with high quality, hygienic and affordable fast food products in an assortment of complete meals. In the light of the above mentioned segmentation criterion, KFC selects the segments on geographic, demographic, psychographic, and behavioral basis. KFC is sure to apply the market segmentation theory. KFC is one of the worlds most popular fast food joint, having a great specialty in burgers. KFC stresses more on the long term profitability rather than short term sales, because it s continuously working to satisfy the needs of customers by doing market research, making new innovative and tasty products by testing in the market. The consumers of KFC are the young as well as young adults. Market Segmentaion is a way by which an organization or firm divides its target market into different homogenous groups in other to identify and meet the needs of its target customers.. December 16, 2017 By Hitesh Bhasin Tagged With: Strategic Marketing Articles. Let's stay in touch :), Very interesting and insightful. For well of, taste and quality seekers Big deals and more caloric products are available whereas for health conscious consumers low fat products are prepared. KFC has divided market on the basis of psychographic … Company Registration No: 4964706. To attract the segment KFC has developed advertising slogan which is, “Nobody does chicken like KFC”. Demographic segmentation refers to dividing up the market based on the income, gender, religion, family, race, occupation, and nationality of the consumers (Cravens & Piercy, 2006). With 18000 restaurants delivering finger licking delicious fast food across the world, KFC has evolved itself through the years and having strong tie-ups or strategic partnership with the supply chain partners is helping them in serving its customers in a better way. Therefore, KFC serves fried vegetable strips and burger patties made of either potato … In KFC, they have considered four variables for market: 1. In this way KFC sales has increased by covering the Muslim population segment. To attract both the segments, KFC sponsors various games and uses the slogan, MAXIMUM ENJOYMENT IN MINIMUM TIME. The next section discusses KFC’s current marketing mix for the mentioned segments. Items sell more than the chicken in the South India. KFC also provides free home delivery to its customers from the restaurants. KFC divides the market on the basis of behavioral variables as follows: 3. How to Create a Market Segmentation Strategy. Consequently the emphasis on ‘we do chicken right’ KFC also differentiates its service in the form of the take away, dine-in experience, and KFC on Wheels (scribd.com). So, KFC target supper and middle classes. These KFC outlets can also carry out delivery for online orders of KFC. For this purpose a feedback questionnaire has been introduced in which experience of customers is taken about KFC service, product taste and quality to know the satisfaction criteria. KFC has adopted cost base pricing strategy. From simple essay plans, through to full dissertations, you can guarantee we have a service perfectly matched to your needs. Promotion relates to the activities by the companies through which they communicate the products and influence target consumers to buy it. It used to serve the same menu all around the world which means that it was using undifferentiated targeting strategy. They have been reasonably successful in identifying and catering to this segment and this can be determined by their growth from USA to its global presence all over the world. KFC always believes in keeping its outlet in premium areas as well as in malls and shopping complexes. Geographically KFC is present in so many cities such as it is present in Melbourne, Sydney, Brisbane, Perth, Richmond, and in other cities of Australia. However, in recent times, following McDonalds example, KFC has started localising its menu, giving it better acceptability in the market. Its Hot wings, Sandwiches and Grilled chicken are stars since majority of its sales comes from these menu items. These activities reveal that KFC policy is to make long term profits. VAT Registration No: 842417633. Segmentation KFC has divided the market of India into distinct groups of customers with diverse demands, tastes and behavior who require distinct products or marketing mix. PRODUCT – All products are made with exotic ingredients to make the fine taste. Demographic segmentation 3. 20 Reasons for KFC to go overseas. 1st Jan 1970 i am interesting KFC in Bharuch marketing and Dealership. Customer of KFC are the people from different age group, all who want to satisfy their taste buds with the finger licking delicious chicken menu. These products are low in caloric value such as Tender roast chicken Breast without skin, Hot and Spicy whole chicken Wings Etc (livestrong.com), therefore these suits to the health conscious segment. No plagiarism, guaranteed! KFC introduces side dishes on a regular basis to ensure customer flavor and quality expectations are met. It’s been more than 75 years since its inception and still, KFC’s original recipe of fried chicken is satisfying the taste buds of customers because it is finger licking good!!. KFC uses its attributes to Position its Product. Place is another marketing mix used by KFC. Disclaimer: This work has been submitted by a university student. The consumers of KFC are the young as well as young adults.It used to serve the same menu all around the world which means that it was using undifferentiated targeting strategy. I love writing about the latest in marketing & advertising. Most of the customers can be defined as youngsters or young adults who can shell out a minimum amount of money to have a delicious meal. Since the segment belongs to high and middle income group, therefore prices are set on a higher side. KFC is facing strong competition from McDonalds, kokoriko, kyochan and many other local & national fast food companies. brand. Customer preferences also fall into the category of market segmentation (Balakrishnan, 2015). 2008). There are very few outlets which serve anything in vegetarian. Market segmentation surveys are common methods of obtaining the customer-specific information that could be used to create groups sharing common characteristics. Price structure is also different for both the segments. For health conscious young adults, KFC has introduced Tran’s fat free fried chicken and burgers with same traditional taste (servinghistory.com). Positioning is the place, a product occupies in the minds of consumers’ relative to competing products. KFC’s has different market segment as compared to street food store selling cooked rice. KFC with its 750000+ workforce, serves fresh delicious fried chicken to customers in nearly 18000 restaurants across the world in 120+ countries. *Health conscious, young adults who are interested in fast foods but prefer natural ingredients and low fat substitutes. One of the major competitors of KFC is McDonalds and Subway. Psychographic Segmentation means to divide a market into various groups based on lifestyle, personality, or social class characteristics. The target market of KfC. At the same time also targets children who love to get free toys with meal. Billboards, Newspapers Ads, Posters, Internet Banners, TV Ads, Transit Ads, and Leaflets are used to advertise the KFC products to further catch the attention of the stated segments. Under demographic segmentation, KFC focus on the income bracket of consumers. Before the introduction of the new Product test marketing is also being done, for example KFC tested its product Double Down before its introduction (tradingmarkets.com). The job is not to find the right customers for the products, but the right products for the customers. 29 THE problem that KFC … KFC MARKET SEGMENTATION: KFC mainly uses geographic market segmentation for its products and offerings: 1. 26 Competitors Actions. The difference between the marketing mixes for both the segments is that Products are different for both the segments. In India the … It identifies the needs of the target market by selecting the … One of the methods is online feedback about the service and products quality and taste. KFC is following market concept as it is focusing on the customer and making improvements in the menus according to the need and wants of the customer. Differentiable: This criterion is set to know how the segments are different from each other and how they respond differently to various marketing mix elements and programs? Concerning the theory, KFC divides its target market into various segments. Despite these changes in the food environment … In this aspect KFC segmented the market on the basis of taste, quality, and price. In Bankstown and nearby Punchbowl, which have very high Arabic-speaking Muslim populations KFC has offered Halal Foods accredited by the Islamic Council of New South Wales (Contemporary Management Research, 2006). 2. Yum Brands which is the parent company of the Pizza Hut and have KFC … The next section will look into how KFC position itself. 3. It has developed restaurants in the posh and prominent places in all countries. 26 PESTEL Analysis. Market Overview: Euromonitor reports that Jamaica’s economy is growing at a sluggish pace. Geographic segmentation 2. You can view samples of our professional work here. Measurable: It is the level to which the size and purchasing power of resulting segments is measured. Example: KFC … Many researchers have found that organizations who have grip on the marketing concept, achieve superior performance. The marketing concept holds that the key to achieving organizational goals consists of the company being more effective than competitors in creating, delivering, and communicating superior customer value to its chosen target markets (Kotler and Keller, 2006). The organization needs to separate the market on the demand of the customers. Demographic Segmentation The market is divided into groups based on an age, gender, household size, income, occupation, religion, race and nationality in demographic segmentation. KFC makes differentiation with competitors like MacDonald, King Burger and Subway by using the finest products and developing of a premium brand. *You can also browse our support articles here >. Demographic segmentation relates to dividing the market into groups based on income, age, education, gender, family size, religion, occupation, race and nationality. KFC believes that consumers seek more food variety and flavor than what most burger chains serve every day, therefore according to the President of KFC they will continue to offer new products that broaden KFC’s appeal to a wider audience. Segmentation, targeting, and positioning – Popeyes and KFC Introduction In this assignment I will compare the marketing strategies for the brands Popeyes and KFC. Companies’ task is to identify the segments and then decide which one to target. I’ll like to read more of your articles. In KFC, they have considered four variables for market: 1. The article also covers top KFC competitors and includes KFC target market, segmentation… Perhaps the most important type of segmentation bases is the psychographic segmentation. Market Segmentation by KFC In the light of all these segmentation criterion, KFC selects the segments on geographic, demographic, psychographic, and behavioral basis. Marketing mix – Click here to read the Marketing mix of KFC, SWOT analysis – Click here to read the SWOT analysis of KFC. Psychographic segmentation and 4. Reference this, The philosophy of marketing management is that organizational goals and achievements depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than the competitors (P. Kottler. I am a serial entrepreneur & I created Marketing91 because i wanted my readers to stay ahead in this hectic business world. KFC (Kentucky Fried chicken) uses demographic segmentation to serve the market as per the customer needs & wants. For example KFC projected its Trans fat free frying with zero calories in the TV spots (findarticles.com). Within each … 2 Market Analysis for KFC. Psychographic Segmentation means to divide a market into various groups based on lifestyle, personality, or social class characteristics. It’s time to put this information into practice. Actionable: This criterion shows that how an effective marketing program can be formulated to get results from the selected segment. Fast Food Market was valued $647.7 Bn in 2019 & to reach $931.7 Bn by 2027, at a CAGR of 4.6%. KFC tend to link their products directly either sex in fulfilling the inner desires. Your email address will not be published. Keeping in view the geographic need of the customers, KFC sells it product the reach the target market worldwide. KFC has introduced various methods and procedures to get the feedback from customers to satisfy their needs. KFC has reached this segment as it is present in so many countries and in many cities of Australia. KFC is following market concept as it is focusing on the customer and making improvements in the menus according to the need and wants of the customer. The market is still growing but fast food chains have low acceptance in developed markets. Regarding promotion both segment products are highlighted separately. The major success factor of KFC is the way it positioned itself in the minds of the consumer. With regards to geographic segmentation KFC has a large market as it is an international fast food outlet. KFC divides the market on demographic basis in the following manner: Segmentation based on ethnic groups plays important role, for example in Australia KFC has segmented its market on ethnic group basis and have introduced Halal Food for the Muslim community. A target market is a market which is used to identify the type of customers located in a particular area. They should be among those who enjoy the luxury and indulgence connected with the brand. Our academic experts are ready and waiting to assist with any writing project you may have. It took a strategic marketing attitude to achieve this positioning. Marketing Strategy of Pizza Hut uses a mix of geographical and psychographic segmentation variables to make its products available of in the market. Geographic segmentation 2. They are demographic segmentation, psychographic seg… The products for this segment include high quality rich in calories such as Fried chicken, sandwiches, and Burgers with high price including big deals and size. In demographic segmentation, the market is divided into groups based on an age, gender, family size, income, occupation, religion, race and nationality. Behavioural Segmentation Behavioural Segmentation is dividing a market into groups based on the attitude, consumer knowledge, and use or response to a product. KFC is currently ranked 147 in the global brand ranking table. Segmenting market is to bring customer satisfaction more cost effectively than competitors. 18 Opportunities to develop and create the following in Mauritius. Theodore Levitt of Harvard explains that marketing focuses on the needs of the buyer and provides is preoccupied with the idea of satisfying the needs of the customer by means of the product and the whole cluster of things associated with creating, delivering and finally consuming it (Levitt, 960). Use the following market segmentation … The really very good article gives us an understanding of the International Marketing Strategy of KFC worldwide. KFC has been portrayed to be a sign of individual taste and for this reason; the brand creates an image to be the number one fried chicken in the minds of consumers. The company also can fine-tune the marketing program and activities to better reflect competitors’ marketing (Kotler and Keller, 2006). Sustained positive brand positioning has helped the company in creating top of mind awareness (TOMA) . The whole idea of market segmentation is to dividing the markets into distinct groups of buyers who have distinct needs, characteristic or behavior or who have might require separate products or marketing mix. Looking for a flexible role? Developed nations are becoming more health conscious, it’s only developing nations which will share the market dynamics. KFC has worked to satisfy customer needs by developing menu items that become accustomed to a portable, on-the-go society and consumer’s changing tastes. To be attracted to eating super quality and tasted fried chicken products, people need to be part of a particular lifestyle segment. Segmentation is the identification and profiling of distinct groups of buyers who differ in their needs and preferences. Following are the different possible segments in this regard. Its chicken wings, and chicken bucket is a favourite with everyone. KFC uses geographic, demographic, behavioural and psychographic segmentation. If you need assistance with writing your essay, our professional essay writing service is here to help! You can follow me on Facebook. To enhance further experience of customers, improvement of food flavor, plated meal packaging and updated facilities are being implemented. (Philip Kotler, 2008). KFC divides the market on … Following are the different possible segments in this regard. We've received widespread press coverage since 2003, Your UKEssays purchase is secure and we're rated 4.4/5 on reviews.co.uk. It is also highlighted that meals are made more appetizing by supplementing with fresh, tasty side dishes and rich home style dessert. The innovative design for both interior and exterior of KFC restaurants attract customers. Marketing Presence in developed & developing nations is helping the company in strategizing its future growth plans as it is giving them exposure & experience which is essential element in and fast food industry’s success. Geographic segmentation:KFC has outlets internationally and sells its products according to geographic needs of the customer. 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Since KFC has a strong brand name and are the leaders in fried chicken market, therefore it takes the help of this strength to position the products. In addition to enhancing the quality of food and how it is served, the dining experience is elevated by an attractive decor. Study for free with our range of university lectures! Behavioral Segmentation is dividing a market into groups based on the attitude, consumer knowledge, and use or response to a product. In addition, to capture the widely prevalent vegan market, KFC also added plenty of vegetarian items. Do you have a 2:1 degree or higher? KFC is synonymous with fried chicken and it challenged the established fast food market of … KFC have set different prices for different products for both the segments. Through market segmentation, targeting and positioning the company divides its overall market into smaller segments to be served effectively. They demand quality and taste, therefore KFC can charge higher price as compared to a cooked food store to this segment. 5. KFC has demographically segmented its market to cater for the different customers who reside in various cities where it has its outlets. Free resources to assist you with your university studies! KFC provides variety of products for this segment. Demographic Segmentation In demographic segmentation, the market is divided into groups based on an age, gender, family size, income, occupation, religion, race and nationality. With the identification of two target segments but profitable segments KFC is practicing a niche market strategy. Real Gross Domestic Product (GDP) grew by 1.5% in 2016 after gains of 1.1% in 2015. KFC Corporation works on a broad quality program to deliver every time high quality food and outstanding service to customers. KFC has also segmented the children group by introducing the Zinger Junior. KFC targets families and young consumers which means positioning the products to “three generation” from middle and upper middle income segments. 4. Accessible: This criterion determines that how consumers in the segment are reached by suitable marketing communications? For effective segmentation following criteria is used by the firm (Kotler and Keller, 2006): 1. Further from the products it offers, KFC differentiates itself on the basis of the experience it provides: the right place, the right chicken, and the right celebration! KFC (Kentucky Fried chicken) uses demographic segmentation to serve the market as per the customer needs & wants. To identify which segments are profitable to market not enough. How they succeed in the world by adopting these strategies wonderfully explanation of all strategies for especially students must learn how a brand grow by adopting these strategies, Your email address will not be published. The KFC strategy is that it positions itself in local markets as a pleasant, bright, air conditioned restaurants with casual atmosphere. It differentiate itself by highlighting that the chicken is prepared through unique secrets recipes in variety of traditions to suit diverse taste and eating occasions. Another factor which strongly helps KFC is its continuous branding initiatives with above the line as well as below the line marketing tactics. Popular menu items like Spicy BBQ Wings, Popcorn Chicken, Extra Crispy Chicken, and Crispy Caesar Twister have all been introduced to meet the need of customers. Is still growing but fast food restaurants dining experience is elevated by an attractive decor service here. It used to serve the market segmentation strategy projected its Trans fat free frying with zero calories in the category... Despite these changes in the food environment … market Overview: Euromonitor that... 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