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KFCMarketingMixReportGroup71KentuckyFriedChickenMarketingMixReportGroup7YangZhaoYurongWangDiSuBoZhouJingFanYuncongChenKFCMarketingMixReportGroup72KentuckyFriedChickenMarketingMixReport◇CompanyOverviewKentuckyFriedChicken,alsoknownasKFC,isapartofYum!Brands,Inc.,theworlds’largestrestaurantcompanyintermsofsystemrestaurants.Astheworld’spopularchickenrestaurantchain,KFCspecializedinitsOriginalRecipeKentuckyGrilledChicken,OriginalRecipeStripswithhome-stylesides,HoneyBBQWings,andfreshlymadechickensandwiches.Everyday,morethan12millioncustomersareservedatKFCrestaurantsin109countriesandterritoriesaroundtheworld.KFCoperatesmorethan5,200restaurantsintheUnitedStatesandmorethan15,000unitsaroundtheworld.ThisreportfocusonidentifyingKFC’stargetmarket,analyzingitsproduct,distribution,promotion,andpricingstrategiesthatmayproducesatisfyingexchangeswiththetargetmarket,andProvidingrecommendationsforthecompany’sfurtherdevelopment.◇TargetMarketKFChasdivideditsglobalmarketintovariousgroupsofconsumerswhohavedifferentgeographicallydemands,tastepreferenceandbehaviors.KFChasmadeitsmarketingsegmentationaccordingtothefollowingbases:(1)GeographicSegmentationFromthemicroscopicview:SinceKFCisafastfoodchainrestaurant,inwhichcustomerwouldliketohaveaquickbite,itsoutletsarerequiredtobuildonawelltraveled,majorstreet,withgoodingressandegress,goodvisibilityandamplespaceforparking,amongotherthings.Fromthemacroscopicview:AccordingtoKFC’sfranchisingreport,whileinthewesternU.S.,therearetotallynoavailablespacestobuiltnewoutlets,intheeasternU.S.,therearestillplentyofopportunitiestodevelopthenewoutlets.(2)DemographicSegmentationAge:ThereisnotaspecificagesegmentationofKFC,mostconsumersinKFCagesfrom6to65.Gender:BothmaleandfemaleIncome:Above$10,000,belowtheaveragelevelinU.SFamilysize:2-5people.OneofKFC’sstrengthisitsfocusonfamilymeal.Familylifecycle:KFCissuitableineverystageoflifesuchassingleperson,singleKFCMarketingMixReportGroup73marriedcoupleaswellasthosewhohavechildren.(3)PsychographicSegmentationPersonality:ConsumersinKFCareopen,casualandeasy-going.Theymustneitherbevegetariannorhealthy-diet.Socialclass:MiddleorbelowLifestyles:MostpeoplechooseKFCbecausetheydonothavemuchtimetopreparemealsbythemselves.Accordingtothesegmentationanalysis,wecandrawtheconclusionthatKFCshouldtargetitsmarketonfirstandsecondtirecitiestoattractbusy-workingpeopleandyoungstudents.Thereasonsareasfollows:·Thebigcitiesaremoredevelopedwithbettertransportationconditionsanddenselypopulations.·Busy-workingemployeesandyoungstudentshaveafastpace,theyrarelyhavetimetopreparemeals.·Youngerpeoplepaylessattentiononhealthy-diets.◇4PStrategiesProductBasically,theproductisanythingthatbeofferedtoamarketforattention,acquisition,use,orconsumptionthatmightsatisfyawantorneed.Anditincludesnotonlyitsphysicalunit,butalsoitspackage,warranty,service,brandname,companyimage,valueandsoon.Here,wewouldliketotalkaboutitsPhysicalunitandservice.1.PhysicalunitKFCisspeciallydealinginthechickenproducts,Theseproductsare:Chicken(includingOriginalRipe,ExtraCrispy,Strips,Popcorn,Potpie,Wings,VarietyBucket,andBonelessVarietyBucket),Burgers(includingMightyZinger,ZingerExtreme,FishZinger,Zingerburger,Twister,Col.ChickenBurger,andSub60),Desserts&Beverages(includingScoopofWalls,FruitSalad,LargeDrink,Mineralwaterregular,Mineralwaterlarge,Coffee,andTea),Snacks&SideOrders(includingNuggets,RegularFries,LargeFries,CornontheCob,ArabianRice,DinnerRoll,HotShots,andCheese).ByexploringKFC’sproducts,wecanfindthatithasaseriesoftraits.Itisastandardproduction,whichadaptsitsrestaurantstolocaltastes,differentculturalandpoliticalclimates.Basically,KFChasthespecialrecipeforchickenproductsandthatiswhyKFCknownasachickenspecialistallovertheworld.What’smore,KFCisakindoffastfood,whichcanprovideaquickbiteforthepersonwhopayslessattentiononhealthy-diets.Besides,IhavetomentionthatoneofKFC’sstrengthisitsfocusonfamilymeal,whichisafactorthatattractsmorepeoplewhohavefamilies.KFCMarketingMixReportGroup742.ServiceKFCofferscustomershighconsistencyfromonevisittothenextbecauseofitsstandardizedpreparationprocedures.InAmerica,KFCoffersfreehomedeliveryserviceatspecificbranchesinspecificcities,KFCprovidesservicestocelebratethebirthdaysofkidsattheirhomeorinKFCrestaurants,nowKFCalsoprovidesservicesofmobileunitofKFC.Inordertoexploreafurtherdevelopment,frommyperspective,KFCshouldextenditsproductlineandbringoutmorenewproducttofitthecustomerswhileatthesametimeprotectitsownclassicproducts.What’smore,KFCshouldtakesomepracticalmeasurestocreateitsbrandloyaltyofconsumers,whichisaconsistentpreferenceofconsumersoverallothercongenericproducts.Inaddition,KFCshouldkeepitscoreandsupplementaryservicesanddevelopmuchmoreservicesthatmatchwiththelocalconsumers.Price1.KFC’spricepositioningAcommonmealofKFCis7dollars,whilecurrently,intheU.S.,thepercapitaincomeis90dollaraday,whichisabout13timesthepriceofamealinKFC.SoKFCshouldfocusonmiddleandlow-incomegroups.2.KFC'spricingstrategyAsaglobalbrand,KFCusemultiplepricestrategyduetodifferentmarketsituation.ThepricestrategiesthatimplementintheU.S.hav