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Marketing 4

Marketing 4

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Published by: api-3769409 on Oct 17, 2008
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03/18/2014

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Scenario 1:

Use your workplace as your case study, identify a product or service that you can use. Please consult with your Facilitator before selecting this option. They will need to know details of the scenario ie Type of workplace that you are going to use and the product and/or service you are intending to use.

Executive Summary

KFC, which belongs to Yum! Brands, Inc, is one of the most reputable and strongest brand names in the fast food market. In 2001, in the trend of the busy life style and the increase in income of citizens in big cities, KFC Vietnam franchise was signed and began to provide the Vietnamese with American taste and convenient meals.

Assignment 1
1) Target Market:

Young adults between the age of 19 to 29, children ranging from 4 to 14, and adult males who are single are the targeted segments that KFC will focus on to develop.

Young adults between the age of 19 to 29

This segment occurs in a number and is one of the most promising markets. Ideally, teenagers everywhere in the world eat fast food, drink coke and watch MTV. Most of them are financially dependent on their parents. It means that the ability to purchase fast food meals a few times a week is completely possible.

Children ranging from 4 to 14 years old.

It has come to a conclusion that family value is so strong in Vietnamese culture, especially in the modern age; children are received the best care ever by their parents. Fast food is becoming a trend and trends are for youngsters. Not only do the children go to a fast food restaurant to eat, but also do they go there to have fun with others. Why wouldn\u2019t the parents pay for a healthy place where their children eat well, play well and feel well?!

Heavy users, singer working adult males.

This segment was identified to be a fascinatingly profitable market. A male who does not cook goes to a fast food restaurant and becomes a loyalty customer. Loyalty customers who keep coming back very often beat up all other light users in term of percentage of food served. The prices are reasonable and applicable for this group of customers.

2) Market Segmentation:

The latest statistics data showed that the average income of HCM city citizens was at 1,341,700 VND per month in the year 2003 and would increase dramatically in the following 5 years. This means that more people will be able and willing to go to fast food restaurant for convenience and time- saving. There are several market segments that have been identified to be targeted for KFC.

Our survey and researches show that there is a large percentage of KFC existing customers are young adults range from age of 19 to 29. This segment is potential and important to the business.

Many of young customers from this group go to KFC with friends on some occasion and many of them went to KFC for that first time and went back again.

Observation revealed a huge number of children who go to fast food restaurants on occasion such as birthdays or holidays accompanied by parents.

Generally, the demand for fried chicken, which has been a traditional food in regular meals in family is very high. Newly products such as hamburgers and French fries are trend setters in the market.

Almost all customers of the fast food industry in Vietnam are now from upper-middle class and upper. KFC meals\u2019 prices are a bit higher than local traditional food restaurants\u2019.

Few customers are heavy users. Males who are single and do not cook would go to a local restaurant almost every day. In comparison to the light user segment, this segment would contribute a lot more to the revenues of a fast food company.

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