Plan: 1. Introduction 2. KFC Product Strategy 3. KFC Price/Pricing Strategy 4. Place & Distribution Strategy 5. Abaut KFC Introduction Kentucky Fried Chicken (KFC) is a world known chain of fast food restaurants based the United States. It’s the world’s most popular chain of restaurants that sells chicken pieces in a variety of forms.The company receives more than 12 million customers per day in its various restaurants based in 109 countries in the world. Harland Sanders is the person believed to have come up with this recipe more than half a century ago. The cooperation is part of the world’s largest restaurant, Yum! Brands Inc. KFC Product Strategy: KFC is one of the worlds most popular fast food joint, having a great specialty in burgers. KFC is synonymous with fried chicken and it challenged the established fast food market of hamburgers. The original product is pressure fried chicken nuggets flavored with secret seasoning of 11 ingredients. Other specialties of KFC are Extra Crispy Chicken, home style sides and buttermilk biscuits.
In 1990, KFC expanded its menu and offered other
chicken preparations like Chicken Fillet Burgers and wraps, salads, potato fries, desserts and beverages. KFC has optimized its product offerings as per the geography and demand. KFC has over 300 different menus as a part of its marketing mix product strategy across different locations worldwide. KFC Price/Pricing Strategy:
The target segment for KFC is families of young
people in urban and semi urban location belonging to upper middle class or middle class. When it entered the market, the prices were higher which were gradually reduced later on to target lower income group. The price is also comparable to the competitors. KFC offers differential pricing. The products are available as individual as well as bundles or combos. Burgers are available for approximately $5 and combo meals with a beverage is available for close to $15. The pricing of bundles is less as compared to combined price of all the products. Annually, the brand has a revenue of more than $25 billion world wide. Place & Distribution Strategy:
The founder of KFC identified the importance
of franchising and established first KFC restaurant in Utah in 1952. Later on, the international outlets were opened in Canada, UK, Mexico and Jamaica in 1960s. Usual daily average orders catered by an outlet are 250, out of which many are fulfilled during peak hours. For some of the places globally, like Malaysia which is multicultural country, the promotional offers are launched as per the special occasions like Chinese New Year. The locations chosen by KFC are state of the art and are selected after lot of deliberation. Abaut KFC
KFC is an American Fast food chain earlier called as
Kentucky Fried Chicken. It was established in Colonel Harland Sanders with humble beginning in a roadside stall during great depression. KFC is one of the largest fast food chain in world along with McDonalds. KFC- Successful business with well-defined strategies