Trade Area Analysis - Kfc

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Apply the Six Steps in Strategic planning to a local fast-food near.

The Six steps in the Strategic planning of a company includes: • Situation Analysis • Objectives • Identification of consumers • Overall strategy • Specific activities • Control.

Kentucky Fried Chicken (KFC) is the fast food company that would be used to further explain the six steps of strategic planning.

Situation Analysis: Is the tools used to evaluate and understand the opportunities and threats that a company may face from new companies entering in their industry or existing retailers. It main propose it to answer two general questions: 1. What is the firm’s current status? 2. In which direction should it be heading?
Situation analysis means being guided by an organizational mission, evaluating ownership and management options, and outlining the goods/service category to be sold. With this being said, KFC old hope road, is a food and service retailer of a franchised company knew global. According to the store manager, the company’s mission statement reads “to sell food in a fast, friendly environment that appeal to pride conscious, healthy minded consumers.” It is because of this that this retail and other KFC retailers throughout Jamaica display slogan like ‘No body does it better’, Finger linking good’, and currently ‘we do chicken right’.

Objectives: Is a long-term or short-term performance targets a retailer hopes to attain. In the case of KFC, it objectives are the backbone to the quality of services and food that they provide to their costumers. A company may also wish to purse goals related to one or more of these areas like sales, profit, satisfaction of publics, and image.

Identification of consumer This is a process whereby the retailers sought and group costumer to obtain their ideal target market. These targets market maybe seen in three major categories, either Mass Marketing, Concentrated marketing, or Differentiated marketing. It is after making a market selection the retailer can work on obtaining competitive advantages.
KFC has chosen to provide services to a mass marketing, where they can vary their food items to those customers looking for a quality fast food at a reasonable price.

Overall Strategy Involves two components; the aspects of business the firm can directly affect and those to which the retailer must adapt. These two aspects are known as controllable and uncontrollable variables. In regard to KFC, their controllable variables are issues on how their building appearances, how their menus are display and the sitting adjustment within their restaurant. On the other hand, an example of uncontrollable variables are the price changes from there supplier of chicken and the demand level of costumers to buy chicken.

Specific Activities Are those day to day activities that have to done within the retailer to help with the smooth flow and successful running of the company. This is why KFC, have use the style of making each employee of the team KFC. This shows that through working together as one unit the goals and objectives can be fully carry out.

Control Is a review that is taken place, as the strategy and tactics are assessed against the business mission, objectives and target market. This procedure is called the retail audit, feedback, which is a systematic process fir analyzing the performance of the retailer. KFC comment box is use to obtain feedback from their costumers.