Understanding the Market2
Choosing a value proposition2
Managing the marketing effort5
Customer Relationship Management (CRM) at KFC11
Public Relations at KFC11
The purpose of this paper is to critically evaluate the marketing strategies of KFC (Kentucky Fried Chicken). The researcher will analyze how the organization creates superior value and builds strong relationship to capture value from customers in return. The paper explores facts for building and maintaining profitable customer relationship by delivering superior value and satisfaction. The researcher is going to investigate the social obligations of the company to observe the impact organizational policies on the environment, community, health of the consumer and use of available resource At the end the researcher will suggest how the company can design customer driven marketing strategy for acquiring, retaining and attracting new customers. The paper also focuses on creating superior value and satisfaction through blissful marketing and communication programmes. INTRODUCTION
KFC which stands for Kentucky Fried Chicken formed in 1930 and based in Louisville is the world’s famous chicken restaurants chain specializing in original recipe, extra crispy, Kentucky grilled chicken etc. Everyday more than 12 million customers are served in more than 109 countries and regions. KFC operates more than 800 restaurants in UK, more than 5200 restaurants in USA and more than 15,000 restaurants around the globe. KFC is part of YUM brands corporation, the world’s largest restaurant company in terms of system restaurants with more than 36,000 locations around the world. The company is ranked 239# on fortune 500 list, with revenue in excess of $11 billion in 2008.
KFC is as committed to the environment as we are to our food and to our customers. We are proud of the steps we have taken so far to reduce our environmental footprint and are committed as a brand to do even more in the in future. It’s an ongoing journey that we’re on and we want to keep you – our customers - informed along the way! KFC introduced first reusable fast food container in 2010. The company replaced plastic plates with paper serving boxes and reduced use of non-renewable resources like styrofoam from the restaurants. By 2011 the company will reduce foam and plastic use by 62% and 11% respectively. Note: You can check the entire history of the corporation at http://www.kfc.com/about/pdf/timeline.pdf
It is the process by which the company creates value for the customers, builds strong relationship with the consumers and captures value in return. (Kotler, 2007) Let’s use the simple model of marketing process to assess the secrets behind the success of KFC.
UNDERSTANDING THE MARKET
The basic reason behind the success of KFC is their ability to understand the marketplace and needs of the customers. KFC conducts consumer research to go great length in learning about their market, competitors and customers. Consumer’s wants are satisfied by providing superior value and satisfaction. Other factors behind such a resounding success are the capability of company to understand whom to serve, how to serve by integrating customer driven marketing strategy and how to capture the value in return to build long term profitability. The company has adopted the concept of increasing the share of the customers rather than increasing product market share....