Product Strategy
Products Strategies
The current strategy for KFC Malaysia of the product strategy varies; they have used many strategies in order to perform well in the market. Below are some of their current strategies.
Value
Their current value added of their product is collaboration with hotlink, that when customer receives a sms from hotlink, they can go redeem the product of discounted food from KFC Malaysia outlet. Another value added of their products is free gifts, drinks upgrade to bigger portion.
Scope
The scope of their current product is multi product, which each product will suit into their different target market. The benefit of this product is each segment of customer will get what suit them the most. For example they have Kids’ Meal for kids.
Elimination
For the elimination strategy, KFC Malaysia has been doing this all the while for the promotional product, namely Twister, and Waikiki Burger that existed for a short period. To be detail, their strategy used is harvesting elimination, meaning they tried to pack and go for the product.
Design
As for the design strategy, their current method is customizing standardization. They are using scope of product that is multiple in customized designs, but they have standardized the procedure of producing, which is the design customization.
New Product Development
KFC Malaysia will come out with new product once in a while; some of their promotional products that were introduced were Twister and Waikiki Burger. Developing a new product and eliminate it after some times will help them to gain numerous market shares, as people will try the product before it vanish again.
Pricing Strategies
Pricing for existing products – maintain
Pricing is an important marketing factor for KFC because it brings impacts to the firm’s profit. Getting the right price will bring sufficient profit for the firm. In terms of KFC’s existing products, they are maintaining their product pricing.
Segmented pricing for customers
The current strategy for KFC Malaysia of the product strategy varies; they have used many strategies in order to perform well in the market. Below are some of their current strategies.
Value
Their current value added of their product is collaboration with hotlink, that when customer receives a sms from hotlink, they can go redeem the product of discounted food from KFC Malaysia outlet. Another value added of their products is free gifts, drinks upgrade to bigger portion.
Scope
The scope of their current product is multi product, which each product will suit into their different target market. The benefit of this product is each segment of customer will get what suit them the most. For example they have Kids’ Meal for kids.
Elimination
For the elimination strategy, KFC Malaysia has been doing this all the while for the promotional product, namely Twister, and Waikiki Burger that existed for a short period. To be detail, their strategy used is harvesting elimination, meaning they tried to pack and go for the product.
Design
As for the design strategy, their current method is customizing standardization. They are using scope of product that is multiple in customized designs, but they have standardized the procedure of producing, which is the design customization.
New Product Development
KFC Malaysia will come out with new product once in a while; some of their promotional products that were introduced were Twister and Waikiki Burger. Developing a new product and eliminate it after some times will help them to gain numerous market shares, as people will try the product before it vanish again.
Pricing Strategies
Pricing for existing products – maintain
Pricing is an important marketing factor for KFC because it brings impacts to the firm’s profit. Getting the right price will bring sufficient profit for the firm. In terms of KFC’s existing products, they are maintaining their product pricing.
Segmented pricing for customers