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Marketing mix: From the view of marketing the concept of marketing mix is basically known as the strategy of -“Putting the right product in the right place, at the right price, at the right time”. In other words marketing mix is the combination of- product, price, place & promotion. This is a consumer based marketing strategy. Companies use this strategy to outperform their competitors by providing superior value to the customers. We are going to discuss about the marketing mix of KEF which led them to huge success.
KEF (Kentucky Fried Chicken) is a chain fast food restaurant based in Louisville, Kentucky in the United States of America. KEF was founded by Colonel Harlan Sanders in 1952. He became a well-known personality throughout thousands of KEF restaurants or outlets worldwide. Quality, service and cleanliness represent the most critical success factors to the CUFF’S global success. Food, fun and festivity are the success and what is KEF all about.
Leading the market since the inception, KEF provides the ultimate chicken meal for the chicken lovers all over the world. KEF has more than 11,000 restaurants or outlets more than 80 countries and territories around the world. The reason why KEF is very successful is their effecting marketing strategy. The marketing mix (ups) of KEF are- Product: The first and then most important thing that a company need to have is the ‘P, Product. A product is anything that can be offered to a market that might satisfy a want or a need.
CUFF’S product planning is classified as consumer product as it has no intermediate. It offers special goods in different occasions. For instance- when stock market fails or recession breaks out. The product quality & the price are same all around the world. Cuff’s product includes goods such as chicken, burgers etc. And revises such as cleanliness, quick service and parties. It also offers special goods for the people of different regions. Now it has introduced the idea of “HALL CHICKEN” for the Muslim community.
List of some products offered by KEF are- Streetwise: Vega Snacked, Chicken Snacked, Snack Box, Orzo Rice, Orzo Gravy Snacks: Popcorn Chicken, Hit Wings, Boneless chicken strips Veggie Selection: Vega Snacked, Vega Zinger, Vega Strip with Salsa, Toasted Wraps Burger: Vega Zinger, Chicken Zinger, Tower Zinger, Box Meal Chicken Delight: Fiery Grilled, Hot and Crispy, Original Recipe, Bucket Chicken Signature sides: Corn on the cob, Coleslaw, Fries Crusher: Frapp??, Iced Monomaniac, Iced Cappuccino Desserts: Soft whirl, Camphor, Brownie Sundae Price: The second ‘P from ups is the Price.
Price is the any amount of money that customers have to pay while purchasing the products. At the beginning stage KEF entered the market using market-skimming strategy. Their products were high price and targeted only to the upper class community. But now have reduced the price of their product targeting all community level to penetrate the market. The political and legal forces often affects the policies of KEF and eventually results in change of price that is due to imposing of taxes. We can compare the products price of KEF with other brands as well.
If the competitors provides the same product at a lower price then the organization usually lower the price of its product too. KEF follows both optional pricing and mixed bundling pricing. A consumer can buy dishes from the basic menu and go for add-ions (Optional pricing) and there are combo offers which comprise a mix of items. They also offer a specific price range. For instance 40-??1000 TX. KEF has variety of options in each category. For example- In Bucket, there are menus with BPCS, BPCS and also BPCS variety bucket (Hot & Crispy Original Recipe and Chicken Strips). Place: The third ‘P is the Place.
Place refers to how the product gets to the consumer. It is also called as placement, referring to the channel by which a product or service is sold either online or retail, which geographic region, to which segment either young, adults, families, business people etc. KEF has only one channel distribution. It’s only distributing its product directly to the consumer and no need of middleman. KEF also does distribution of services to the consumer like parking, sitting etc. KEF place their outlets in strategic areas such as college, schools, offices urban places or any other arrest are mostly populated by youngsters and some adults.
They place it strategically so that KEF can pleasure their consumers with their products. As a result of their intelligent target market they get a large number of customers every day. In addition KEF also have many outlets in one district. Promotion: The last P is Promotion. Promotion is the method to inform and educate the chosen target audience about the organization and its product. KEF promotion strategy is the logo itself. The logo features Colonel Harlan Sanders that is one of the best logo in the world has created its name as a standard in the market.
The logo of the smiling Colonel is probably one of the most recognized faces in the world and instantly brings the image of fried chicken to one’s mind. Today the Colonel’s spirit and heritage are reflected in Cuff’s brand identity. There are several ways KEF promote its product. KEF finds most of the meanings and survival through promotions. Promotion is the main tool to bring all chicken lovers attention toward KEF. Advertising is the most fundamental way KEF promote its products. KEF, by its advertisements derives the desire in their customer to come and enjoy their meal.
KEF spend 2% out of its profits on advertisement and use print media and most recently doing internet advertisements marketing to promote their products. The advertising media involve newspaper, pamphlets, billboards, television, radio and internet. KEF also do institutional advertising to stimulate demand. When KEF offers new product then it does product advertising. They also offer different deals according to the season and occasions. They also sponsor different events, No’s & different social welfare organizations. KEF is currently the sponsor of the Australian Cricket Team.