The Marketing Strategy Of KFC

Decent Essays
2.3 Marketing Strategies
Nowadays, the marketing concept has been broadened to have a strategic role in overall firm’s strategy rather than being just a part of functional management, this overlapping between marketing and strategic management has resulted in the increase of managers awareness about the importance of initiating marketing strategies in order to be able to compete effectively in the market. Hamper & Baugh (1990) offered a very interesting definition of strategic marketing, which says: “Although definitions for the term vary, we define marketing strategy as a consistent, appropriate and feasible set of principles through which a particular company hopes to achieve its long-run customer and profit objectives in a particular competitive environment”, thus a good marketing strategy is one that is dynamic, seeks profit opportunities and creates competitive advantage.
Firms are continuously facing attacks by new entrants and other existing firms, consequently, marketing strategies have to be applied in conserve market shares and improve competitive position. According to Yannopoulos (2011), marketing strategies can be mainly divided into two types chosen upon the firm’s current position in the market. First is a defensive strategy which is applied to fend off the
…show more content…
Unfortunately, by end of 2005 KFC had faced a sharp decline in their sales as shown in figure 1 due to changes in the nation’s attitude to food toward healthy food, combined with the appearance of new competitors. As a result, a fresh direct marketing strategy was applied based on great product taste and on developing new products had distinguished KFC from competitors and increased their revenues to reach $11 billion by
Get Access