“Research on preference pattern of consumers of KFC and McDonalds”
RESEARCH ON PREFRENCE PATTREN OF McDonald’s AND KFC IN AHMEDABAD MARKET EXECUTIVE SUMMARY:
The international market is flooded with various sectors and industries that involve products of daily as well as occasional use for the consumers. The use of the products can vary from industrial purpose to private consumption. One such thriving industry in the modern world is the food and beverage industry. Food and beverage industry combined with the hospitality sector makes up one of the most attractive target sectors for multi-national corporations. The concept evolved from the very first diners in the late 18th century, when the world realized the concept of paid dining experience. Now, the world cannot live without the taste of a McAloo Tikki or the zing of a Zinger. The bottom line being that the order-to-eat MNCs have taken over the market like ants on a corpse, gobbling up every ounce of it.This sector has slowly covered all income groups of consumers and has targeted to achieve a market share of the highest percentage and the ever increasing competition is resulting in more profitable options for the consumers. The consumers are being served with a range of food and beverages to relish on catering every style of taste and preferences. With growing competition the food giants have take their services to a higher level with better decreased serving time, value for money prices and changing specialties in their products. The following report is a comparative analysis of the operational parameters of McDonalds andKentucky Fried Chicken (KFC) and projects an overview of various factors that differentiate the services of the two food giants. It covers factors like the product variety, customer reach, pricing strategies, hospitality management, customer relationship management, supply chain management and employee satisfaction programmes.The survey was based on the consumer’s response on their choice between KFC and McDonalds and the basis of their choice was differentiated into various factors.
McDonald’s and KFC are everybody’s favorite food trip destinations. When you like hamburgers, McDonald’s is always the top option. When you like fried chicken, KFC is always the first thing that comes to everyone’s mind. The reason for this is these companies claim of particular products that have became their trademark until now. The difference between McDonald’s and KFC is mainly the cuisine.
KFC is part of Yum! Brand Inc., which is world’s largest restaurant system. KFC has more than 11000 restaurants in more than 80 countries, serving more than 12 million customers each day. McDonald’s restaurants are found in 119 countries and operates over 31,000 restaurants worldwide, employing almost 1.5 million people, serving more than 58 million customers daily. Approximately 15% of McDonald’s restaurants are owned and operated by McDonald’s Corporation directly. They are major competitors in India.They have different strategies to target each other. Each has different marketing policies.
PROBLEM STATEMENT: What factors are currently influencing the consumer decision-making process in selecting between the McDonalds and KFC and how these companies responding to changing environment and consumer behavior to target each other? Our main Objectives from this research are to find:
To conduct a comparative analysis on the marketing parameters of McDonald’s and KFC To conduct survey analysis on the consumer’s preference of food joint amongst McDonald’s and KFC How McDonalds and KFC target each other?
LITRATURE REVIEW: The following literature review will critically analyse the theories associated with the research topic. Firstly, it looks at the issues of Consumer preference:
Hence it highlights the factors, which influence the consumer decision-making process, predominantly the consumer attitudes. Other articles examine more...
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