Marketing Mix of KFC and 4Ps (Updated 2023)

The Marketing mix of KFC analyses the 4Ps of KFC, which includes the Product, Price, Place, and Promotion of KFC. KFC, or Kentucky Fried Chicken, is a fast-food restaurant chain founded by Colonel Harland Sanders in 1952 in Louisville, Kentucky. KFC has 27000 restaurants across 145 countries. It also has 8 lakh employees.

KFC is loved for its fried Chicken, which has a recipe of 11 herbs and spices, a secret combination that gives each KFC restaurant its flavors. Besides fried Chicken and burgers, other dishes like chicken sandwiches, chicken tenders, popcorn chicken, coleslaw, mashed potatoes, and soft drinks are served in its outlets.

Marketing mix of KFC (4Ps)

KFC or Kentucky Fried Chicken has a potent marketing mix that is hard to beat except for McDonald’s. This article discusses KFC’s products, price, place, and promotion, making it a strong brand in the QSR industry. Known to be the biggest rival of McDonald’s, KFC is rising in leaps and bounds. The marketing mix of KFC discusses the strength of the KFC marketing mix through its 4Ps.

KFC Product Strategy

KFC’s product strategy focuses on offering its customers high-quality fried Chicken. Most of its menu is chicken-based, though the company adapts to local markets. KFC also has a variety of beverages and sides accompanying its burgers. An advantage of the KFC brand is that it uses high-quality cooking techniques and delivers consistent and delicious products.

KFC is known to be innovative because it keeps bringing new products that consumers prefer to its menu. Chicken tenders, plant-based chicken alternatives, and chicken sandwiches are some examples. But its most significant focus is on its Chicken-based burgers and fried chicken dishes.

KFC is consistent in its taste and quality, making its products one of the most favored in the fast food industry. The company uses a standardized measure of production, which is why its taste and quality are consistent across its worldwide locations.

KFC’s best product marketing strategy is glocalization, which has global outlets but localizes the menu to local customers. This, therefore, results in higher adoption of the product and more footfalls of customers to its outlets.

The product list of KFC is

• Original recipe of KFC fried chicken: This is the signature KFC product, which has crispy fried Chicken.
• Streetwise: Veg Snacker, Chicken Snacker, Snack Box, Rizo Rice, Rizo Gravy, Mini Krusher,
• Snacks: Popcorn Chicken, Hit Wings, Boneless chicken strips
• Veggie Selection: Veg Snacker, Veg Zinger, Veg Strip with Salsa
• Toasted Wraps
• Burger: Veg 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
• Krusher: Frappe, Iced Mochaccino, Iced Cappuccino
• Desserts: Soft will, Choamor, Brownie Sundae

The product mix of KFC in 2023 is as follows (Source)

1. Original Recipe Chicken: The classic, featuring a secret blend of 11 herbs and spices.
2. Extra Crispy Chicken: A crunchier alternative to the Original Recipe.
3. Kentucky Grilled Chicken: A healthier, grilled version of their Chicken.
4. Popcorn Nuggets: Bite-sized chicken pieces, often favored by children.
5. Chicken Sandwiches: Including various types like the classic chicken sandwich, spicy versions, and sometimes limited edition flavors.
6. Chicken Wings: Available in different flavors and coatings.
7. Hot Wings: Spicy chicken wings.
8. Boneless Wings: Sauced and tossed boneless chicken wings.
9. Chicken Tenders: Strips of Chicken, often served with dipping sauces.
10. Famous Bowls: Bowls containing a mixture of mashed potatoes, corn, gravy, cheese, and Chicken.
11. Sides: Including mashed potatoes and gravy, coleslaw, mac and cheese, green beans, corn on the cob, and biscuits.
12. Desserts: Such as cookies and sometimes seasonal offerings like cakes or pies.
13. Beverages: A range of soft drinks, iced teas, and lemonades.

KFC Pricing Strategy

As there is a lot of competition in the fast food market, KFC uses value-based pricing to attract customers. It keeps its prices based on the value it offers to the customers. KFC tries to provide a complete meal to its customers at a low price point.

KFC offers customers high-quality products at affordable prices, a price the customer is willing to pay and finds affordable. One of the reasons KFC has survived against the likes of McDonald’s, Domino’s, and other fast food chains is its consistent pricing, which matches its value offering.

Besides value-based pricing, KFC also uses bundled pricing wherein it bundles multiple products in a single bundle, making it cheaper than individually buying each product.

KFC also uses promotional pricing from time to time to attract new customers as well as retain the older ones. Many limited-time discounts are given to customers or discounts on newly launched products so that customers get accustomed to the taste of the products. This, therefore, leads to the push of existing products and the adoption of new products from other KFC outlets.

KFC’s pricing strategy can be summarized as competitive and value-based pricing that gives its customers high-quality and tasty food.

KFC’s pricing strategy is a nuanced blend of competitive and psychological pricing crafted to maximize market penetration and brand loyalty. Here’s a breakdown:

1. Competitive Pricing: KFC keenly observes the prices of its direct competitors like McDonald’s and Burger King. They position their prices slightly above or on par with these competitors, emphasizing their unique value proposition – their secret recipe and distinct taste.
2. Value Meals and Bundles: Understanding the budget constraints of various customer segments, KFC offers value meals and bundled products. These deals provide a perception of savings and encourage bulk purchases, effectively increasing the average transaction value.
3. Dynamic Pricing: In different markets, KFC employs a dynamic pricing strategy. Prices are adjusted based on local economic factors, competitive landscape, and consumer purchasing power, ensuring affordability and market relevance.
4. Psychological Pricing: KFC often uses psychological pricing tactics, like pricing items at .99 instead of whole numbers. This approach makes prices seem lower than they are, subtly encouraging purchases.
5. Premium Pricing for Specialty Items: KFC adopts a premium pricing strategy for certain specialty or limited-time offerings. Often perceived as more luxurious or unique, these items are priced higher, catering to customers seeking novelty and are less price-sensitive.

KFC Place Strategy

KFC’s place strategy focuses on having its products easily accessible to all customers around the world. Being in the QSR (Quick service restaurants) business, KFC’s place strategy is essential for the brand’s growth. The KFC marketing strategy combines a franchise model and company-owned locations. This helps the brand deliver the products to the customers very fast.

• Worldwide presence: KFC has 27000 restaurants across 145 countries. It has a presence in urban as well as rural areas.
• Franchise Model: KFC operates mainly through a franchise model. This helps the company expand faster and be present in all growing locations.
• Company-owned locations: KFC has fewer company-owned locations but does have such outlets in urban and semi-urban areas.
• Online presence: KFC has online ordering systems, is tied up with multiple delivery platforms, and delivers all its products to your home or workplace via online ordering. The rise in online ordering has helped the brand increase its revenue.

The presence of franchise locations, online ordering and delivery, and a vast network of retail setups allow the company to deliver its products quickly to customers. Its focus on quality ensures that customers get an excellent KFC experience worldwide.

KFC’s place strategy is as follows:

1. Global Presence: KFC operates in over 140 countries, with a strong presence in both developed and emerging markets, adapting to local tastes and preferences.
2. Strategic Location Selection: KFC often selects high-traffic locations such as shopping malls, major streets, and near universities to ensure high visibility and accessibility to a wide range of customers.
3. Franchise Model: A significant portion of KFC’s outlets are run by franchisees, which allows for rapid expansion and local market adaptation while maintaining brand standards.
4. Drive-Thru and Delivery Services: KFC has adapted to changing consumer preferences by offering drive-thru services and partnering with food delivery platforms, enhancing customer convenience.
5. Local Adaptation: KFC tailors its menu and restaurant design to suit local tastes and cultural preferences, which is crucial for its success in diverse global markets.

KFC Promotion Strategy

KFC uses a combination of advertising and promotional strategies. In advertising, it uses television, print media, outdoor media, and digital advertising to capture customers’ attention and promote its products and brands.

KFC does promotional activities by offering add-ons to the existing menu, gift coupons, T-shirts, Kids’ meals, etc. the strategy of KFC’s sales promotions is ongoing because they help capture the brand’s market share. KFC also does various sponsorships. For example, it had a sponsorship of sky sports events. Such sponsorships help KFC increase brand visibility.

KFC is also on all social media platforms and uses Facebook, Twitter, and other social media platforms to share its latest products and in-store promotions and reach new audiences. KFC also launched a loyalty program known as Colonel’s Club. The users are given reward points for each purchase.

KFC’s promotional marketing strategy of KFC is as follows:

1. Innovative Advertising Campaigns: KFC employs memorable and often humorous advertising campaigns across various media platforms, including TV, online, and social media, to enhance brand visibility and engagement.
2. Social Media and Influencer Partnerships: Leveraging the power of social media and influencer collaborations, KFC creates viral content and promotions that appeal to younger demographics and enhance digital presence.
3. Limited-Time Offers and Collaborations: KFC frequently introduces limited-time menu items and collaborates with other brands or celebrities, creating buzz and encouraging customers to engage with the brand regularly.

Some Recent Video ads and Print ads of KFC are:

https://youtu.be/YziyPoeFmjU

Also, read

• • KFC Marketing Strategy
  • KFC SWOT Analysis
  • KFC Competitors

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