Essay on Marketing Plan

961 Words Feb 10th, 2012 4 Pages
Market Segmentation and Product Positioning

The ultimate goal of market plan for my product is making most popular chicken franchise chain restaurant first in the U.S and then in the world 1. Identify the marketing segment for the product and explain why this segment was selected;
My product will be Korean style soy source fried chicken. It is kind of popular food in Korea especially, chicken business field. The uniqueness of product concept is simple. Comparing to Kentucky fried chicken, this chicken is fried by oil with soy source and other auxiliary ingredients. The other condition of business will be basically very similar to KFC.
According to the study “ Market segmentation on the basis of food-related lifestyle
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Therefore, this food needs to enlarge from specific small target to whole American. Base on the cook method and ingredients of this food, the main target will be Asian include Korean and Hispanic. First of all, this fried chicken is cooked by garlic, paper, also excepting soy source. Therefore, there is good possibility for familiar taste for Hispanic people. Additionally, they are big customer for chicken market. Location of chain branches will be downtown for common reason for business. To sum up, ultimately enlarging for target customer range to American, the main target customer will be Korean and Asian and Hispanic. 3. Conduct a SWOT (strengths, weakness, opportunities and treats) analysis for the company;
Strengths: fried chicken is most popular item in food area. Probably very few countries’ people do not eat chicken some religious reasons. Fried chicken market is already well built in the world. If I assume to start this business in this country, there are big portion of customer groups who have favor in fried chicken, either. It already quiet succeed in Asian chicken market, so at least, from Asian who live in this country this food gained big possibility.
Weakness: brand awareness is very low, so letting know about this product is most urgent matter for this business. The cost for advertisement will be extremely high. In addition to the high cost, there is no

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