Marketing Mix strategy of KFC PDF

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Marketing Mix strategy of KFC...

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Marketing strategy of KFC Introduction Since the normalization of relations between Vietnam and the United States in 1995, KFC is the first brand to dare boldly set foot in Vietnam. That risk is considered as "being able to eat and fall" with a market as new as Vietnam. But what KFC achieved is admirable compared to other foreign brands. Let's see KFC's Marketing Mix strategy, which makes it interesting that KFC is considered the "big sister" of fast food brand introduced into Vietnam. KFC Marketing Mix strategy: The introduction and development in Vietnam market KFC (Kentucky Fried Chicken) is a pioneering brand by Captain Harland Sanders originally developed to serve his own purpose of life, then developing and becoming one of the systems of service The fastest brother in the world. With over 1 billion KFC dinners serving in more than 80 different countries. Currently KFC has more than 20 thousand restaurants in 109 countries and territories worldwide. KFC is famous for its famous fried chicken dish "Original Recipe", created by 11 different herbs and spices. Unique taste and friendly service style, wholehearted to customers and a warm and cozy atmosphere at restaurants are key to KFC's successful door in Vietnam. The year 1997 marked the beginning and the beginning of KFC's "empire" in Vietnam with a diverse menu. Let's see the milestones for developing and expanding KFC stores in the 90 million market:

December 1997: Opened the first store in Ho Chi Minh City December 1998: Open shop in Dong Nai June 2006: Expanding market share to Hanoi Capital May 2008: Tien went to the central region, specifically Hue city 2011: Opening a series of KFC stores in: Nha Trang, Long Xuyen, Quy Nhon, Phan Thiet, Hai Duong 2013: Opened in emerging markets is Ha Long City With such expansion, KFC now has more than 140 stores in 19 major provinces / cities across the country, employing more than 3000 people and creating thousands of jobs in Vietnam. It took 10 years of losses and sustainable journey, KFC became a familiar brand of Vietnamese people, so what is the path that the company has chosen and Marketing Mix strategy of KFC has brought the company achievements how?

KFC's Marketing Mix Strategy: The "localization" strategy has been hugely successful Product (Product) - East West perfectly combined KFC products are famous for being delicious and attractive to everyone. Referring to the product strategy in the overall Marketing Mix strategy of KFC, there must be a mixture of 30 methods of marinating special spices from 11 types of herbs. KFC brings to Vietnam the most original things that make this brand successful, along with the unprecedented professional service in Vietnam at that time.

If it comes to strategy, KFC has a firm foothold as it is today, first of all, its unique product. KFC constantly makes a difference but also diversifies its products in every market that the company comes to. Besides traditional dishes such as fried chicken, Hamberger, KFC also developed more products such as chicken rice, mixed cabbage, soft bread, shrimp burger ... for Vietnam market and some other markets. In Vietnam it is clear that the company focuses on developing chicken rice. Because this is a very familiar Vietnamese dish and meets the "fast-clean" criteria with a fast and nutritious meal. In addition to KFC products, the company also changed the taste, size, design to suit the cuisine of Vietnamese consumers. In recent years, the dishes suitable for the taste of Vietnamese people have been developed by the company such as chicken porridge, Flava Roast roasted chicken, Egg Tart egg cakes ... Along with product development, the company also focuses ensure their quality so as to ensure the best, with the stages that the bird flu epidemic is raging, the company "reassures" the customers about the quality of products they provide to create firm trust with customers. . Not only the fried chicken products but also the KFC service provide customers with the most comfort, along with

the VIP card policy to customers for each purchase is discounted 10%. The above things show the customer connection with the products that KFC created with the Vietnamese people.

Price (Price) - Minimal to fit Vietnamese spending To create a rich menu, many choices for customers, KFC's Marketing Mix strategy also offers different prices for consumers to have more choices. In the first days of entering Vietnam market when people were still unfamiliar with fast food with very Western flavor, KFC applied price strategy to penetrate the market, using low prices for customers. more familiar with the brand, attracting more potential customers for themselves. Clearly, this campaign is effective and demonstrates the perseverance of KFC when in 2006 after nearly 10 years of suffering loss of goods, it started to earn profits and a lot of customers. The next time, when KFC's rival became more and more in Vietnam, and the company had enough loyal customers. KFC switched to competitive pricing strategy with a higher price than its rivals but not significantly. This is considered to be the leading image

creation move, as well as hitting customers' psychology "higher prices mean better quality."

In addition, KFC also adjusts its price for each type of customer such as preferential programs and special prices for VIP card members. Proposing Combo meals with reasonable prices to help customers save costs when ordering individual items has shown effectiveness in their price strategy. The fact that KFC shapes its price in each period is a wise step in the context of "playing" on the market of the market extremely interested in price. Place - Success with the distribution channel research On December 27, 1997, KFC came to Ho Chi Minh City and until now, the company has built a system of stores throughout the region. In 2005, KFC had 17 stores, by 2008 the number had increased to 44 stores, and one year after this number was 70 stores. Currently, KFC has more than 140 stores covering 3 regions in the North - Central South and in big cities. This shows the strategy of expanding distribution channels in many localities to reach the maximum customers. Stores are concentrated in major cities such as Hanoi and Ho Chi Minh City as this is considered a focus of the target group of businesses. With such a large coverage, the distribution strategy is included in KFC's Marketing Mix strategy to create more convenience for customers when they want to search for their nearest KFC store. This saves travel time, but customers do not have to go too far from their place to get a meal at KFC. The distribution strategy is also reflected in the number of stores and distribution locations in KFC's system. Initially, KFC often select supermarkets or shopping centers because these locations are often located in crowded and convenient places for people to shop and enjoy KFC fried chicken. However, due to the growth of supermarkets or Mega Mall larger than the development speed of KFC, the company has chosen the beautiful and convenient location to create customers with easy search as well. as a spacious space when purchasing experience at KFC. Reasonable distribution channels and space-wise space researched by KFC have created good effects not only in big cities but also in small localities. Promotion (Advertising) - Strong advertising on media It can be said that the strength of KFC's Marketing Mix strategy is sales and advertising. The company has used different channels in Promotion such as promotions, advertising and PR activities. Through advertising and PR activities in Vietnam, the company wants to convey information about KFC to customers and promote its outstanding products.

It can be seen that KFC launched TVCs to advertise their brands towards customers' awareness of foreign brands but "very Vietnamese". KFC wants to clarify the message in its Slogan sentence "good taste on each finger", with the irresistible delicious image of KFC fried chicken. Or most recently, the company implemented an effective KFC communication strategy when using sound to stimulate taste. When KFC's Marketing Mix strategy is young people and they are psychologically stimulated, so the company focuses on the sound so it can appeal to them at the KFC dining experience. Do not stop there, in the era of Social Media strong development, the company is not out of play when using Facebook, Instagram, Twitter ... or banner ads to promote their coverage to the public. KFC's campaigns garnered a great deal of positive feedback and interaction. In addition, customers can reflect their comments on KFC's Fanpage page so from then KFC adopted a strong communication strategy on both TVC and social media networks that showed their awareness in the market. Vietnamese school "is not the most recent". Conclusion KFC now witnesses and overcomes the landing of McDonald’s in Vietnam, its biggest rival in its homeland and many countries. In addition, KFC has lost 10 years to make it today, KFC's Marketing Mix strategy really has a lot of subtle points and right steps, "go to where to go to localization". maximize. Therefore, the success of KFC in Vietnam market is easy and it is currently the only fast-food fast-food company and holds the most market share in Vietnam in 2018....