Kfc Marketing Analysis Essay Example

customers is closely tied to their age and life cycle stage, which determines their specific needs. To cater to these different groups, KEF offers kids meals with toys for younger customers and veggie burgers for older individuals. It is important to note that this segment cannot be solely defined by age, as customers are also in a specific phase of their life. Income is another significant factor in segmentation, as a person's income level and accumulated wealth greatly influence their willingness to buy a product.

Income is a crucial determinant of consumers' purchasing power, impacting their ability to buy desired products. Individuals with lower incomes may be unable to afford their desired items, while those with higher incomes may not find existing products satisfying. In the case of KEF, income holds significant importance as it determines the target market. Initially, KEF concentrated on the upper class market, but they later introduced economy meals to appeal to the lower and middle classes. The social class, as represented by income, plays a pivotal role in KEF's demographic factor.

In general, KEF targets various social classes including the upper class, upper middle class, middle class, and middle lower class due to the high prices of their products. They cater to whole families rather than single individuals, as evidenced by their Family Meals which offer bundled items at a slightly lower price. Moreover, considering that Bangladesh is a country comprising different religious groups, mainly Muslims wherein alcohol consumption is prohibited, KEF ensures that their products are available to meet the requirements of all religious groups.

Geographic segmentation involves dividing the market based on geographic criteria such as nations, states,

regions, countries, cities, neighborhoods, or zip codes. The Gee-cluster approach utilizes demographic and geographic data to generate a more precise profile of specific target markets. For instance, in rainy regions, products like raincoats, umbrellas, and gumboots can be marketed. In hot regions, summer wear is suitable, while in cold regions, warm clothing can be sold. KEF in Bangladesh solely concentrates on geographic segmentation.

These are the reasons why KEF, a fast food business in Bangladesh, focuses on the cities of Dacha and Chitchatting. Being a developing country, Bangladesh offers high profitability for the fast food industry only in these two cities. KEF targets specific areas within these cities, including tourist spots, commercial areas, and university canteens. Cryptographic segmentation is a marketing strategy that involves dividing a market into different groups based on social class, lifestyle, or personality characteristics. KEF uses cryptographic variables such as life to segment their market.

Behavioral segmentation focuses on categorizing consumers into groups based on their knowledge, attitude, use of, or response to a product. It revolves around consumer behavior. An example of behavioral segmentation is selling products tailored for different occasions. In Bangladesh, KEF could offer customers the opportunity to celebrate various occasions and provide special discounts for couples on Valentine's Day. Additionally, they have a specific product known as "KEF Popcorn Chicken" designed specifically for cricket matches.

Benefits: KEF focuses on targeting specific social classes to cater to the benefits desired by customers. Loyalty Status is crucial for business growth, which can be achieved through acquiring new customers and retaining existing ones. Marketers also target customer behavior, and in the case of KEF, they have an advantage as a

well-known chain in the market. Market targeting involves assessing the attractiveness of each segment and choosing one or more segments to enter.

Once a market segment is identified, a company has the option to target either one or multiple segments. The key is to concentrate on segments where the company can generate the highest customer value and sustain it for a long time. In cases of limited resources, the company may choose to focus solely on specific segments. Conversely, if abundant resources are available, the company may decide to cater to several segments. Market positioning encompasses establishing a product's distinctive, attractive, and advantageous position in relation to its competitors among its intended consumers.

After identifying its target market segments, a company must decide how to customize its market offering for each segment and the specific positions it wants to occupy in those segments. Product positioning pertains to how consumers perceive a product in relation to competing products. Marketers aim to create unique market positions for their products, as similarity to other offerings does not give consumers a persuasive reason to buy. KEF focuses on providing "high quality poison" throughout its product portfolio.

KEF communicates its high quality products, premium pricing, distribution through upscale dealers, and advertising in popular English newspapers. The company conveys its message through physical signs and visual cues that customers use to assess quality. KEF places significant importance on maintaining a positive brand image in customers' minds.

The focus of building Cuff's image in customers' minds is the people who are their customers and the physical evidence, which is the environment customers experience at KEF. Cuff's constantly strives to make positive changes

in the environment so that every time a customer enters KEF, they can feel the difference. They believe that through continuous efforts, they have developed a brand image in their customers' minds, resulting in brand loyalty and brand equity. The marketing mix, consisting of Product, Price, Place, and Promotion, is a crucial tool in determining a product or brand's offering. KEF specializes in chicken products and is globally known as a chicken specialist, thanks to its special recipe for chicken products.

KEF targets the Asian and eastern regions based on their observation that these individuals have a preference for chicken products. Thus, they enter the market to meet the demand for their chicken products. Regarding place, it encompasses the company's efforts to ensure that the product is accessible to the target consumers. Even with a high-quality product, appealing pricing, and extensive promotional activities, if the consumer cannot obtain it, it becomes futile. In our country, KEF has 11 outlets strategically situated in convenient locations for customers to easily visit and indulge in their delicious food.

The outlets are:

• KEF Goulash
• KEF Banal-lie
• KEF Diamond
• KEF Murmur
• KEF Saskatoon
• KEF Bally
• KEF palatal
• KEF Attar
• KEF Chitchatting
• KEF Cox's Bazaar

Promotion entails engaging in activities that effectively communicate the strengths of products to consumers and encourage them to make a purchase. It serves as a means to inform and educate the selected target audience about the organization and its offerings. The various sources of promotion encompass

advertising, sales promotion, public relations, events and experiences, as well as coupons, discounts, and bundled packages. For an organization, promotion plays a crucial role in defining its purpose and ensuring its longevity.

KEF uses Promotion as its primary method to capture the attention of chicken lovers and promote its unique and delicious Fried Chicken product.

Advertising: The famous logo of the smiling Colonel is highly recognizable globally and immediately associates with fried chicken. Additionally, it serves as a promotional tool performing various advertisement functionalities.

Figure: Advertising media Public Relations: An organization, its products, and policies. KEF is not only a high-quality food restaurant but also a socially conscious corporate citizen.

The promotion and funding of various community welfare projects through aggregate KEF revenue has equally involved KEF. In order to improve public relations, KEF organizes different types of seminars and employee training classes.

Sales Promotion: KEF outlets provide customers with different incentives to purchase their Chicken. Customers can receive coupons for free meals or free add-ons by spending a specific amount within a certain time period.

In addition, KEF provides meal vouchers and attractive deals in their print ads that customers must cut out and bring along. A SOOT analysis assesses the company's strengths (S), weaknesses (W), opportunities (O), and threats (T). This evaluation involves evaluating both the internal strengths and weaknesses of an organization as well as the external opportunities and threats that may affect the organization, taking into account market conditions and the overall environment. KEF is acknowledged as the top brand in the worldwide fast food industry.

KEF always conducts a SOOT analysis to understand situational market analysis, identify market opportunities,

anticipate future threats, and evaluate their overall market growth. Figure:soot Analysts STRENGTHS: Strong franchises worldwide. Superior taste and food quality compared to other food corners. Successful in retaining loyal customers. Wide range of food items offered in a single menu. Interactive relationship with the market.

KEF is the undisputed leader in the chicken serving industry, with no direct competition. KEF outlets can be found worldwide, offering their secret recipe of herbs and species. As the market leader, KEF holds a significant share in the large multi-brand chicken market. With years of experience in the local market, KEF has become experts in fulfilling people's specific tastes and preferences. It is also worth mentioning that KEF is ISO certified by the International Standard Organization.

Weaknesses

One major drawback of this market is the existence of multinational competitors such as Pizza Hut.