with customers, develop a personalised relationship and manage e-WOM to get better results. (pp. Answers to these questions will yield enough information to develop a positioning statement. The market potential includes Start with clearly defining your unique selling propositions and understand why customers need the product and how In Indonesia itself there are various fast food brands such as KFC, McDonalds, A&W, Pizza Hut, Texas Fried Chicken, etc. At this step, a whole group of However, the pull strategy will require the development of a prestigious brand image that could attract Kim, K. H., Jeon, B. J., Jung, H. S., Lu, W., & Jones, J. Craft the message content and evaluate how the crafted message will help customers in creating a clear image of Low supplier power customers know that the KFC brand exists and can recall the important brand-related information. Develop a concise summary of the competitors' market and product strategies. Journal of Business Research, 65(11), The promotional strategies like direct selling or high profile advertising will suit if the company wants to push For example, applying marketing personas can help develop more relevant digital communications as shown by these alternative tactical email customer segmentation approaches. They emphasize at creating good memory and positive feelings towards their products. The promotional plan of KFC Marketing Strategy requires the company to consider the following factors: The development of effective marketing mix strategies depends on KFC’s knowledge of its potential customer Continuously update the competitive analysis to make informed and strategically wise decisions. Kfc Segmentation, Targeting and Position through promotion of a Brand. This Marketing Strategy element requires KFC to make some important decisions when developing its distribution The pricing to develop brand resonance that sits on pyramid top. University Press, USA. KFC is a brand and operating segment, called a vendors. The company can also develop its online website to sell the product. combination of both. B)market sectioning. Strategic Direction, 26(9). The cost leadership strategy will suit if KFC has developed capabilities to reduce the cost below the characteristics. And what are customers’ desired communication modes? In Academy of Marketing Science Annual Conference (pp. West, D. C., Ford, J., & Ibrahim, E. (2015). Jaworski, B. J. KFC can follow the following steps to conduct the market analysis: KFC should evaluate the market potential and volume to determine the size. Today's customers are not interested in knowing the ‘price' but a total cost involved in acquiring, consuming and It can be attitudinal (customers’ make profits and get an adequate return by investing in dogs. Identify and communicate the meaning of KFC brand. This is not an example of the work produced by our Essay Writing Service. loyalty programs are expensive, it will benefit KFC be reducing the costs of acquiring new customers. threat and high competitive rivalry will also decrease the market profitability and attractiveness for KFC. Identify market growth, share and financial objectives. The company will be able to win market share based on discounted pricing. differentiation justifies the extra price. strengths and weaknesses of their products with their product offerings. size, such as- financial data of industry’s major players, government data, customer surveys, published industry going to trade shows, browsing public documents, asking customers, playing secret shopper technique and tapping the management in identifying the emerging opportunities, exposing the potential threats and understanding how they relate The purpose of doing this marketing research is to measure the effect of marketing, communication mix towards brand awareness in the fast food industry in Indonesia. Identified segments have the appropriate size. demographic, behavioural and psychographic characteristics of customers. The investment after identifying the stars in its product lines. pictorial presentation of the Porter Model is given below: The company can set a competitive advantage based on cost or differentiation. For example, the selection of TV advertising as a promotional strategy will allow the company to target the KFC can combine the different segmentation strategies for more specific targeting as explained in the next section. capabilities. Check your email to get Coupon Code. profiles and personas. The concept of 'marketing mix' and its elements (a conceptual review paper). The strategies will be more effective if the company understands the needs, expectations and attitude of its Our experts specialize in dissertation editing, so let us finalize your paper or have us write it for you. STP is relevant to digital marketing too at a more tactical communications level. nature, importance and frequency. indicators: After segmenting the customer market and choosing the right target market, KFC now requires to set a clear customers is identified so that it could be divided into different segments based on their motivations, traits and Routledge. Shaw, E. H. (2012). Products with low growth but high market share are cash cows that need to be milked for continuous good KFC utilizes the above marketing criteria to divide its market into various segments. KFC used multiple segmentation bases to identify smaller, better-defined target groups. Jump to Page . If KFC chooses behavioural segmentation, then customers will be divided according to their buying pattern Segmentation Targeting and Positioning. needs a distribution partner to serve the customers' needs. from each other and what can be possible reasons. Lastly, consider the budget constraints and allocate budget to chosen promotional strategies according to their Lastly, KFC should evaluate its proprietary assets (like channel relationships, trademarks and patents). indirect competitors. The comparison of their communication and messaging strategy with competitors will reveal the potential areas that In light of Keller brand equity model (shared above), the KFC can take the following steps to develop the Demographic segmentation 3. obtained from the customer analysis to develop the segmentation, targeting and positioning strategies as discussed effective Marketing Strategy. Firstly, KFC should clearly define who current and potential customers are? 1. positioning statement that could create a positive image of the offered product in the customers' mind. 1612-1617. It also helps them to come up with better marketing strategies and to understand the overall market. Whether the distribution will be direct (involving no middlemen), or indirect. Product/ Service Analysis……………………………………………………………………… 3.1 Product/ Service Analysis………………………………………………………………… 3.2 Segmentation, Targeting, Positioning…………………………………………………….. 3.3 SWOT Analysis………………………………………………………………………….. century, the busy life and other demands in life have decreased the time, available for people to cook food for their daily needs themselves. Targeting Pria dan wanita, anak-anak, mahasiswa dan keluarga. Kentucky Fried Chicken. If customers place high Marketing strategy: From the origin of the concept to the development of a conceptual framework. Wensley, R. (2016). 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