The marketing mix is generally accepted as the use and specification of the four As’ ascribing the strategic position off product in the marketplace. 0 Product 0 Price 0 Place C] Promotion Product Anything that can be offered to a market to satisfy a want or need. CIFS specialty is fried chicken served in various forms. CIFS primary product is pressure-fried pieces of chicken made with the original recipe. The other chicken offering, extra crispy, is made using a garlic marinade and double dipping the chicken in flour before deep frying In a standard industrial kitchen type machine.
Segmentation C] Geographic segmentation : KEF has outlets internationally and sells its products according to geographic needs of the customer. In India KEF focuses how geographically its customers demand different products. In north India Chicken is the main selling product, while in the south the Vega. Items sell more than the chicken. CLC Demographic Segmentation In demographic segmentation, the market is divided into groups based on an age, gender, family size, income, occupation, religion, race and nationality. KEF divides the market on demographic basis in this way: 0 0 C] C] Age is between 6-65. Gender is both males and females.
Family size is 1-2, 3-4, 5+ Income is RSI 10,000 n above. Family lifestyle Is almost all. CLC Cryptographic segmentation Dividing a market into different groups based on social class, lifestyle, or personality characteristics is called cryptographic segmentation. KEF divides market on the basis of cryptographic variables like ambitious and authoritarian TARGET MARKET 0 the process of evaluating each market segment’s attractiveness and selecting two or more segments’ 0 As the outlets of KEF are in posh area and prices are too high (overhead expenses-rent, air-conditioning, employees), so KEF targets upper and middle classes.
Target market depends upon size and growth rate of population, Company resources and structural attractiveness of market segment. Market Positioning KEF uses its attributes to Position its Product(Fried Chicken) 0 For a product to occupy a clear, distinctive and desirable place relative to competing products in the minds of target consumer. ‘ 0 In KEF feedback is taken from the customer in order to know the customer demands and then improvements are made in products.
KEF focuses on pure and fresh food in order to create a distinct and clear position in the minds of customers KEF has a strong brand name and they are leading the market in fried chicken. KEF Menu Price 0 Price is the any amount of money that customers have to pay while purchasing the product. More broadly, price is the sum of all the values that consumers exchange for benefits of having or using the product or services Demographic factors 0 Age: Generally there is no age limit focus by the KEF. The target and focus is on each and every individual in a society.
KEF finds its largest demographic in the young of any society. 0 Gender: Both male and females are focused by KEF, gender does not play any role here. 0 Household Size: This plays a vital role in the demographic factor of the KEF. Generally they target whole families rather than single persons. This being the reason for their Family Meals which are basically bundled items served at a nominally cheaper rate. Economic Factors 0 Income: Income is an important key factor for KEF. This factor decides which class is to be targeted.
In the early rise of KEF they focused on the upper class but slowly are introducing economy meals that attract the lower to middle classes. Consumption Behavior: It estimates the behavior of people, their liking and disliking Geographic location preference: 0 urban 0 semi urban Behavior segmentation 0 0 0 taste conscious quality conscious class combination of product and quality Pricing Strategy 0 Market skimming: KEF globally enters the market using market skimming. Their products are priced high and target the middle to upper class people.
Gradually they trickle down the prices focusing on the middle to lower class people to penetrate both sides of the market. Competition 0 We can compare the price of their products with McDonald, Dominoes and Pizza Hut. If the competitor provides the same product at a lower price then the organization usually lowers the price of its product too. In the case of KEF, Fried Chicken is its main selling point and controls a monopoly over the Indian fast food market (only with fried chicken). It prices its burgers, French fries and soft beverages with relation to its competitors.