Name of organization: KFC
Chicken meat production is the largest sub segment of South African agriculture. It contributes almost 18% to agriculture's gross income which contributes to the economy growth and development of the nation. Chicken meat is the most important protein source in the diet of the majority of South Africans, including the poor. Chicken meat is the cheapest source (in terms of R/kg) of meat in South Africa, however, since 2013 chicken meat prices in South Africa increased by 13 percent and in the past year by more than eight percent, as increased import tariffs of chicken meat, coupled with anti-dumping duties, escalated local prices.
KFC is known to be a favorite of meat lovers it specializes in fried chicken, and this segmentation is the main success factor of KFC.
KFC’s key objectives include: * To increase their market share in the fast food industry * To improve annual profit margin in order to maintain company growth * To increase shareholders dividends and franchise
KFC’s strategies
KFC’s main success strategy lies in their super secret blends of eleven herbs and spices that are used to differentiate their chicken from other organization offering similar services. In addition, their marketing and advertising strategy that portrays the product as an ultra-unique, one-of-a-kind thing, with no exact equal in the entire world to a target audience gives them competitive advantage over others.
Other key success factors of KFC include: Cleanliness, Hospitality, Accuracy, Maintenance, Product Quality, and Speed with service.
The marketing mix of KFC discusses the strength of KFC through its 4P’s:
Product:
KFC main product is fried chicken but it also has varieties of other products such as;
Chicken Delight: Fiery Grilled, chicken wings
Bucket Chicken
Snacks: Popcorn Chicken, Hit Wings, Boneless chicken strips
Toasted