Establish and adjust the markrting mix Essay Example for Free

Establish and adjust the markrting mix Essay1. Research Your Choice of organizationKentucky Fried grumbler (KFC)- one of the most known fast food chains in the world started in the earlyish 1930s by Kernel Sanders in the Southern USA as a small immunity operation. Colonel Sanders has become a well-known personality throughout thousands of KFC restaurants Worldwide. Quality, service and clean channelss (QSC) represents the most critical success factors to KFCs ball-shaped success. KFC has a number of ambitious aims and objectivesTo increase its percentage sh ar of the fast-food foodstuff. To improve profit margins year-on-year to fund the proceeds of the company. To return profit on investments to owners and franchisees. The way that KFC reaches these targets is decided by the companys internal strategy and objectives. Company and trade Strategy Partnering to build customer relationships a. merchandising StrategyKFC used the Demographic Segmentation, Geographic segmentation , and Psychographic segmentation. In demographic segmentation, the merchandise is divided into groups based on an age, gender, family size, income, occupation, religion, race and nationality. KFC divides the market on demographic basis in this way Age is between 6-65.Gender is both males and females.Family size is 1-2, 3-4, 5+Income is Rs 10,000 n above.Family lifestyle is approximately all.KFC has outlets internationally and sells its products according to geographic needs of the customer. In India KFC focuses how geographically its customers demand distinguishable products. In northernmost India Chicken is the main selling product, while in the south the Veg. items sell more than the chicken. Dividing a market into different groups based on social class, lifestyle, or personality characteristics is called psychographic segmentation. KFC divides market on the basis of psychographic variables manageSocial class- Upper and Middle class.Lifestyle is not specific.Personality is a mbitious and authoritarianb. Target MarketingAs the outlets of KFC are in posh area and prices are too high (overhead expenses-rent, air-conditioning, employees), so KFC targets amphetamine and middle classes. Target market depends upon size and growth rate of population, Company resources and structural attractiveness of market segment. c. Market PositioningFor a product to occupy a clear, distinctive and desirable place sexual relation to Competing products in the minds of target consumer. In KFC feedback is taken from the customer in order to know the customer demands and accordingly improvements are made in products. KFC focuses on pure and fresh food in order to establish a distinct and clear position in the minds of customers KFC has a strong brand name and they are leading the market in fried chicken. 2. Identify the Key Characteristics of their products and services and their significance to the market. Product pull outKFC product line includes all chicken based products. BurgersThe burger category includes the Zinger Burger, Colonels Chicken Burger, Colonels fish fillet Burger, SUB60 and 80, and Zinger Jr. They have also introduces a Fish zinger burger.Chicken PiecesThe chicken involved the product line with different number of chicken pieces like 1 piece, 2 pieces, 5 pieces and 10 pieces chicken. CombosThe combo includes the different meal as Chicken Meals, Sandwich Meals and Family Meals.Desserts BeveragesThe desserts and beverages offered by KFC are Fruit Salad, fastness Large Drink, Regular Large Mineral Water, Tea, Scoop of Walls Ice cream and Coffee.Snacks Side OrdersThe snacks and side orders served by the KFC are Arabian Rice, 5 10 Pieces springy wings, Dinner Roll, Regular Large Fries, Hot Shots, and Corn on theCob, Hot Crispy Soup and the Cole Slaw. 3. Review pricing policy and analyse pricing variables to determine their make on demand.