Not applicable in the present scenario where there is high competition and consumers vary widely in their wants and needs. The company has segmented its market by particular characteristics such as geographical location, psychometric factors, demographic factors, and behavioral factors among others.
Although the process is expensive, the company could increase sales and develop a strong stranglehold within each of the segments. Segmenting, Targeting, and Positioning: Promotion is also used to educate the customers about the existence of a product and their usage.
KFC has divided its market based on various psychometric variables such as personality characteristics and lifestyle. Market segmentation is an effective marketing strategy which every organization should embrace to remain competitive. KFC can provide super-quality chicken products that appeal to those who enjoy luxury.
People from the poor working class consider their products as a luxury. In this case, several customers are interested in the foods, since their needs are always met.
This is where firms introduce starter products and encourage their customers to make progress up the ladder to consume their premium products. In this case, the business will be able to provide special solutions to the needs of its customers. They have become loyal to KFC, since their needs are met at every stage of their life cycle.
As such, the firm has gained trust from the middle and upper class. This encourages to do repeat purchase. Hence arises the strategy of market segmentation, targeting and positioning.
This has allowed KFC to appeal to people from all demographics. Business organizations understand that two customers are never the same and different strategies must be utilized to ensure that their expectations are met at the right time by providing the right quality of products at the right place.
KFC competitive advantage has been its ability to adapt to the changing time and needs to customers. Revenues through the following internal strategies: Increased Marketing Efficiency Market segmentation makes it easy for firms to reduce the cost involved in marketing.
Place functions involve distribution, how the company could efficiently reach its product to the customers by varying distribution channels, logistics, market coverage, etc.
The business can make the consumers move along the loyalty ladder. It refers to the channels of distribution, location and the intermediaries involved before the final product reaches the consumer. This allows customers from all social classes to find products that meet their specifications at one place.
Accessibility— Before dividing the markets, the company must ensure that it is in a position to reach its consumers through various methods of marketing communication.
Their unique recipe makes the taste and memories attach to the eating, unforgettable. KFC target market includes both Non-vegetarian and Vegetarian customer segments.
For instance, it sponsors a cricket team in Australia. Most people in the developed countries indulge in luxury compared to those who come from developing countries. KFC has demographically segmented its market to cater for the different customers who reside in various cities where it has its outlets.
KFC bundles different products together and offers it to customers at a slightly lower price. In order to fulfill the concept of marketing and customer needs, it is essential that different offerings are made to various groups of customers in a market.
Besides, the products are offered at the right prices and quantity. As such, their market strategy targets people coming from the upper class, middle class, and lower class. Advantages and Disadvantages of Market Segmentation Advantages Market segmentation allows the marketer to identify the existing marketing opportunities.
KFC MARKETING STRATEGIES products in the minds of target consumer.” • In KFC feedback is taken from the customer in order to know the customer demands and then improvements are made in products.
• KFC focuses on pure and fresh food in order to create a distinct and clear position in the minds of customers KFC has a strong brand name. Take a look: Kentucky Fried Chicken Marketing Strategy.
KFC used the Demographic Segmentation, Geographic segmentation, and Psychographic segmentation. In demographic segmentation, the market is divided into groups based on an age, gender, family size, income, occupation, religion, race.
Take a look: Kentucky Fried Chicken Marketing Strategy.
KFC used the Demographic Segmentation, Geographic segmentation, and Psychographic segmentation. In demographic segmentation, the market is divided into groups based on an age, gender, family.
Segmentation, Targeting, Positioning KFC segments the market based on the age and buying habits.
They divide them into 4 groups which are children, teen & young adult, family, and budget customer (Dangi, ). 1. Children – KFC targets children boys and girls with age 12 and below who love to %(1).
Today. founder of KFC. when he decided to franchise his famous Kentucky Fried Chicken recipe blends of 11 herbs and spices to the rest of America. that special recipe reached Malaysia. The flavorful blends of 11 herbs and spices give KFC's delicious aroma.5/5(1). KFC Corporation, or KFC, founded and also known as Kentucky Fried Chicken, is a chain of fast food restaurants based in Louisville, Kentucky.
KFC is a brand and operating segment, called a “concept” of Yum! Brands since when that company was spun off from PepsiCo. KFC primarily sells chicken in form of pieces, wraps, salads and sandwiches.Segmentation targetting and positioning of kfc