SQA IMM Assignment Brief (2)

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Your assignment should meet the following requirements. Please confirm this by ticking  the boxes before submitting your assignment  The first page is completely labeled with my name, instructor name and assignment information.  I have completed and ticked the declaration page.  The contents of my assignment have been submitted to Turnitin and I have downloaded the report.  I have strictly followed Harvard Referencing Style and Citations. LEARNING OUTCOMES AND ASSESSMENT FEEDBACK Name of the Assessor Module Code & Title HX40 04 International Marketing Management Module Learning Outcomes LO1 Analyse the changing business environment(s) globally and how they pose challenges to marketing management functions in organisations. LO2 Develop marketing plans with application of appropriate marketing models, tools, and techniques. LO3 Evaluate the processes involved in brand management and how they influence consumer behavior. LO4 Decide how to launch new products/services in a dynamic global marketplace. Assessment Types Marks Marks Achieved Organizational Study (Project Format) Executive Summary & Introduction 15 Situational Analysis 15 Entry Strategies 15 New Product Development 30 Brand Management 15 Recommendations & Conclusion 10 Overall Score 100 Overall Grade Click or tap to enter a date.

The following grading criteria will be applicable for the course, Executive Diploma in International Business and Strategy: Marks Grade 70 to 100 A - Distinction 60 to 69 B - Merit 50 to 59 Pass 40 to 49 Fail with Resubmit 0 to 39 Fail with Retake GENERAL GUIDELINES (Please read the instructions carefully) 1. Complete the title page with all necessary student details and ensure that the signature of the student is marked in the declaration form. 2. All assignments must be submitted as an electronic document in MS Word to the LMS (Use 12 Times New Roman script). 3. All assignments must be submitted with an accompanying Turnitin report. 4. Assignment that is not submitted to the LMS by the prescribed deadline will be accepted ONLY under the REDO and RESIT submission policy of Westford. 5. The results are declared only if the student has met the mandatory attendance requirement of 75% and/or a minimum of 50% under extenuating circumstances approved and ratified by the Academic Director. The student has to repeat the module (with additional fees applicable) if the attendance is below 50%. 6. The assignment should not contain any contents including references cited from websites like www.ukessays.com , www.studymode.com , www.slideshare.net , www.scribd.com . 7. Students can refer Wikipedia as a source of information, but the references cited in Wikipedia must be mentioned. 8. Submit the assignment in a MS Word document with the file name being: First Name Last Name_ abbreviation of the subject. Example: John Smith_IMM Quick reference Checklist for the Faculty/Instructor to accept/reject the assignment before evaluation:

 Adherence to the deadline of submission date.  Original file, cover sheet and format retained.  Student information and signature intact.  Font style and size used as instructed.  Harvard Referencing Style is strictly followed. Assignment International Marketing Management Learning Outcome 1: Analyse the changing business environment (s) globally and how they pose challenges to marketing management functions in organisations.  PC 1.1: Critically discuss the local, national, and regional marketing approaches used by the organisation  PC 1.2: Research possible international market entry methods and evaluate the benefits of each in relation to the organisation  PC 1.3 Critically evaluate the influence the changing business environment on the marketing management functions of the organisation Learning Outcome 2: Develop marketing strategies with application of appropriate marketing models, tools, and techniques.  PC 2.1: Critically discuss how the selection for international market will be made using marketing theories and principles.  PC 2.2: Apply tools and techniques to inform entry methods into international market.  PC 2.3: Develop on entry criteria for the international market for the organisation. Learning Outcome 3: Evaluate the processes involved in brand management and how they influence consumer behaviour.  PC 3.1: Critically discuss the principle theories of brand management in relation to the consumer decision process and apply to the organization you are working with.  PC 3.2: Analyse the psychological and sociological factors influencing consumer behaviour and decision making.  PC 3.3: Formulate a strategy, based on your research, for the organisation’s product brand management in the international marketplace. Learning Outcome 4: Decide how to launch new products/services in a dynamic global marketplace.  PC 4.1: Critically evaluate the strengths and weaknesses of the organisation’s new product development process.  PC 4.2: Make recommendations for a marketing strategy that will expand the business in the international market.

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 PC 4.3: Create an international marketing plan for the launch of a new product/service. Assignment Task Report [100 Marks] [4000-5000 Words] Read the following Scenario and prepare a Report with the guidelines provided. Scenario: You can choose any organisation that you have sufficient first-hand knowledge of, preferably where you are working currently or have worked in the past, or an example organization that you have chosen for the purposes of this assignment. This may be a family business, a multi-national organisation, a college or university, or any other organization that lends itself to discussion and analysis. You are expected to prepare a MARKETING PLAN that includes your organization’s launch of new products/services as part of the international expansion plan. The Marketing Plan should contain the following: 1. Executive Summary: You should summarise your entire case study briefly (no more than one page of A4 paper). This should outline the key messages and be prepared in a format that would be suitable for presentation to the senior management team of the example organization. [5 Marks] 2. Introduction : ( my organization) You should introduce your organization of choice, giving details about its size, its product offering including any branding, and the market(s) in which it currently operates. You will also critically discuss the local, national, and regional context of marketing approaches employed by your chosen organization. [10 Marks] 3. Situational Analysis: Conduct a SWOT and PESTLE Analysis and the outputs of this analysis will be used to synthesize ideas and develop the entry criteria strategies you wish to adopt for the international market of your chosen organization. [15 Marks] 4. Entry Strategies: ( ex. Exporting, franchise, licensing) You must identify at least two possible international entry methods that can be used by your organization. You should evaluate the benefits of each method to the organisation in terms of indicators such as forecasted market share, targeted market segment or possible mergers or acquisition. You must then critically evaluate the influence of the changing business environment on the marketing priorities and marketing management functions of the organisation. [15 Marks] 5. New Product Development: Assess and evaluate at least 3 strengths and at least 3 weaknesses of the new product development process in your chosen organization and devise an international marketing strategy using Ansoff Matrix that will help expand the business in the international marketplace. You should then include timescales, budget analysis and audit mechanisms for completion and the area of the business responsible for the action. [30 Marks]

6. Brand Management: Critically discuss Keller’s brand equity model and apply to your organisation’s products. Thereafter, conduct research into at least two psychological and sociological factors influencing consumer decision making and develop a branding strategy based on your research and data analysis. The strategy should propose forecasted responses and the conversion rate of prospective consumers. [15 Marks] 7. Recommendations and Conclusion: Finally, summarise and discuss all the acquired findings and analysis and provide a conclusion. Communicate the recommendations for adequate marketing strategy for the chosen organization to expand the business in the global market. [10 Marks]

Table of Contents Executive Summary ................................................................................................................................... 7 Introduction ............................................................................................................................................... 8 KFC's Situational Analysis ....................................................................................................................... 9 SWOT Analysis ...................................................................................................................................... 9 PESTEL Analysis ................................................................................................................................ 11 International Market Entry Strategies .................................................................................................. 13 Franchising .......................................................................................................................................... 13 Advantages of Franchising .............................................................................................................. 13 Disadvantages of Franchising ......................................................................................................... 14 Mergers and Acquisitions ................................................................................................................... 14 Advantages of Mergers and Acquisitions ....................................................................................... 14 Disadvantages of Mergers and Acquisitions .................................................................................. 15 New Product Development ...................................................................................................................... 15 Market Development ........................................................................................................................... 16 Diversification ...................................................................................................................................... 16 Product Development .......................................................................................................................... 16 Market Penetration ............................................................................................................................. 16 Brand Management ................................................................................................................................. 17 Brand Identification ............................................................................................................................ 17 Brand Meaning .................................................................................................................................... 17 Market Brand Response ...................................................................................................................... 18 Brand Resonance ................................................................................................................................. 18 Reccomendations and Conclusion .......................................................................................................... 18 References ................................................................................................................................................ 19

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Executive Summary Fast food is a consistently increasing enterprise as science advances every day. Efficiency in this quarter is exceptionally created using the development of modern-day grant chains, purchaser relationship management (CRM), and online product promotion. The range of new rivals in the market is rising. Because of this, corporations in this region appear for strategic techniques that help them meet goals and, most likely, make bigger into new markets while continuing to be worthwhile and sustainable. That learn about examines Kentucky Fried Chicken (KFC) 's calculated steps to penetrate foreign markets despite fierce competition. These include product creation, company management, market analysis, and entrance tactics. The fast meals area has grown so rapidly that the fierce competition scares any newcomer away. Doing a PESTEL is critical to highlighting the target market state of affairs in other countries since, amongst different things, one-of-a-kind market cultures, environments, and political circumstances exist in those countries. However, when a company enters a new market, the SWOT Analysis makes it feasible to apprehend its strengths, weaknesses, opportunities, and threats. KFC has efficaciously diversified its product line and entered new markets by offering ample facts about them. KFC also makes strategic decisions to accomplish sustainable brand administration that satisfies customer demands. The agency can create a fine company administration sketch using Keller's manufacturer equity model in this research. Furthermore, KFC will increase the possibility of a new product's success by knowing its market feasibility before launching it. This study's strategic measure of new product improvement was once developed using the Ansoff Matrix, which gives a clear path for precise budgeting, scheduling, location, and audit procedures.

Regarding KFC's business operations, market penetration would be a suitable tactic. Additionally, this research presents tips on fabulous approaches that KFC must use to run its commercial enterprise successfully. KFC has a clear format for growing its investments overseas, supplied these overseas market entrance strategies are implemented correctly. Introduction KFC has extended its presence worldwide since opening its first area in Corbin, Kentucky, in 1952. KFC is widespread due to the fact of its brilliant goods, which outperform those of its rivals. Its foremost rival for the greatest length of time has been McDonald's. However, KFC presently has a global footprint, especially in Africa's underdeveloped nations, thanks to its capacity to enforce a franchising advertising and marketing plan. This restaurant only offered fowl as part of its main menu when it reopened underneath the first franchise in Utah. Since McDonald's and other fast-food chains center of attention by and large on hamburgers, this technique has been designed to compete with them. However, this restaurant added vegetarian gadgets to its menu when the necessity for product boom and diversification arose (Pandey et al., 2021). These items include wraps, rice, and eggless mayonnaise, amongst other non-meat dishes. When the fast-food area experiences speedy expansion, it becomes necessary to diversify its product range. As a result, this restaurant should continue to flip a profit while giving its shoppers the biggest experience possible. KFC has embraced regional customs while expanding into new areas as part of a calculated advertising strategy. The use of spices in the Indian market for fried fowl cooking is evidence of this approach. When promoting a product, concentrating on what the consumer expects considerably builds the product's brand. Similar strategies have been used by this restaurant in different nations to draw in and keep extra customers. This chain restaurant uses the same

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physical look in both manufacturer institution and administration to enhance familiarity. Using a constant brand photograph has the advantage of eliminating marketing expenses. One restaurant's fantastic recognition causes it to exude the same enthusiasm as different eateries. Marketing, mainly on social media, wants less money, considering that one commercial may promote all the areas worldwide. The manufacturer's consistency and the product's familiarity make advertising simple. Given that meal cravings and inclinations might occasionally be psychological, KFC employs a method to entice prospective customers and useful resources in their decision-making. This restaurant's success has been largely attributed to its use of sensory branding (Galande, 2019). This method includes stimulating every one of the 5 human senses. They consist of taste, smell, touch, hearing, and vision. These intention perceptions are efficaciously attained via the reputation of this restaurant's planning. KFC makes use of franchising to amplify into new foreign markets. KFC's Situational Analysis Organizations rent situational evaluations to investigate their viability and possibilities of success in the new international marketplace earlier than getting into new markets. Two methods are used in the evaluation process: PESTEL and SWOT analysis. These two types of analysis assist the business enterprise in getting perception into its strengths and weaknesses as nicely as its global environment.

( https://projects4mba.com/swot-analysis-of-kfc/5101/ ) SWOT Analysis An organization examines its advantages, disadvantages, opportunities, and market risks under this study. One of a company's aggressive blessings over opponents is one of its strengths. Because of these shortcomings, the company can have difficulties breaking into new foreign markets. These boundaries encompass an incapability to manage excessive competition and a lack of established networks for contacting prospective purchasers in the new market. (Omer, 2018) Conversely, opportunities are the approaches to investing cash in the supposed market. An enterprise might make lucrative investments using taking advantage of the gaps in the market. Threats additionally encompass warning symptoms or roadblocks that might prevent the enterprise from succeeding when it makes investments in a new area. Strengths: KFC has a strong company consciousness and reputation, which gives it a range of blessings that assist it in succeeding in different markets. Even though it has had many challenging phases in its growth, KFC is proud to be amongst the top agencies in the fast- food sector. First, it serves various consumers with a reasonably priced menu that offers many alternatives. Some fast-food chains may cater to prosperous customers lacking in the low-income workers' market (Shaw, 2021). There are youthful, low-income people in many developing international locations who need to consume these delicious meals. Consequently,

KFC's menu draws in and meets their demands while producing extra income from this large demographic due to its affordability. (Lin Zhu, 2017,) This business enterprise takes top-notch pride in its dedication to vegetarianism. It gives a wider variety of items, which broadens its purchasers and helps it outperform rival fast-food eating places specializing in junk food. The enterprise has received more clients thanks to its market penetration strategy, giving it a competitive edge. This organization can draw in all viable clients due to its care for customers who are touchy with existing healthful consuming habits. Despite competition from McDonald's and Subway, KFC prevails because it is inclined to go above and beyond to know vegetarian customers and furnish their best selections (Shaw, 2021). Its considerable presence in over hundred and fifty countries is any other asset. This feature helps KFC draw in and make money from many delicious food lovers at some point globally. Additionally, its global reach aids in increasing the corporation into untapped markets. Weaknesses: Notwithstanding its domination in the international market and excellence inside the sector, KFC is no longer among its shortcomings. One of these flaws is a menu that discourages customers' hobby of wholesome ingesting. The high-fat content of fried hens motivates the body to shop for more calories (Shaw, 2021). Frequent eaters of these junk meal gadgets get illnesses such as diabetes and stroke due to their huge consumption. Concerning the franchise's management system, is there any other issue? Since KFC is a franchise, seeing bad consumer opinions about this management method might be unsettling. As greater organizations go their operations online, disgruntled purchasers often write nasty evaluations that may harm the image of the complete organization. (Anjan Pal, November 2017)

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Opportunities: The fast-food sector has an awesome possibility due to the increasing demand for non-meat dishes. All fast-food corporations have to seriously consider the demands of vegetarians (Shaw, 2021). Consequently, KFC can extend the investment of its assets in this vicinity and expand its earnings. Furthermore, merchandising vegetarian delicacies through food advertising allows speedy patron acquisition and retention. Even if it goes towards the company's primary offering, it will assist the enterprise in the current market where people are worried about their health. (George Kofi Amoako, 2023) KFC also uses science in marketing, manufacturing, logistics, and client relationship management. Since many clients have additional preferences in addition to timely delivery, KFC may benefit from this to run its business extra efficiently. For example, using social media sites like Quora to promote its goods makes it viable to achieve predetermined advertising goals. Retraining a worker in modern-day culinary strategies allows for acquiring more customers through the identical procedure. Increasing youthful clients' profits creation and giving them the right of entry to spare cash is another gain this corporation has. When KFC provides extraordinary discounts on their goods, such as on weekends or midweek, those on hand budget may additionally indulge in their cherished hen and fries. (Hung-Che Wu, 2018) Threats: Threats of many sorts surface at some point in an undertaking to expand into new global markets, impeding its success. Thus, fierce opposition from other typical and up-and- coming eateries that furnish various vegetarian items and scrumptious roosters poses a serious hazard to KFC (Shaw, 2021). Because various cuisines make it convenient, customers swarm to such enterprises to be satisfied. KFC can put plans in the region to satisfy customer demands and reduce this new danger.

The franchise shape poses yet another risk. When a KFC place obtains a bad ranking for supplying bad patron service, this machine taints the company's recognition (Furdyk, 2020). A terrible comment from a purchaser on an internet overview website motivates a business to lose current and new clients regularly. Accusations of packing contaminated food instead of promoting it to consumers are among the historic incidents involving moral concerns. According to Furdyk (2020), this trouble reappeared many years ago when a viral video aired; however, the administration dealt with it, declaring that it was a former employee's try at sabotage. Allegations have additionally been made about raising mutant roosters for its Chinese outlets. Even though the company prevailed in court sooner or later, the claims' massive distribution on social media prompted full losses for the business. (DAVID, 2023) PESTEL Analysis The abbreviation representing the elements that affect a business—political, economic, social, technical, environmental, and legal—is PESTEL. These elements are integral to a company's success when beginning in a new setting. These elements have to do with the company's inside and exterior influences. ( https://www.edrawmax.com/article/kfc-pestel-analysis.html )

Political Factors: Regarding political aspects, the country of affairs in the supposed state is pretty intriguing. Tax rates, the stability of the cutting-edge administration, and its policies are a few variables. Political unrest may make it hard for organizations to prevail because it can motivate clients to end up disturbing and make it tough for them to attain different components of the nation. (Melson, 2023) Furthermore, an organization's popularity may go through if it has political links. For example, some clients disliked KFC because of its mocking commentary about Donald Trump's authority and how it compared to North Korea. This factor may also make it extra challenging for KFC to enter foreign markets. Still, secure countries serve as a fulcrum for worldwide investors to find success. Economic Factors: These variables include the customers' financial capabilities, enabling them to buy their items efficiently. The COVID-19 epidemic has triggered some humans to lose jobs, negatively impacting brand revenue. Even non-disabled customers had been unable to reach these fast-food businesses as economies shuttered in response to demands for the epidemic to be contained. (Lina Wang, 2023) In addition, this fried rooster commercial enterprise misplaced clients due to the push for more healthy consuming practices in many nations. Despite introducing vegan menus, many clients pick them out with unhealthy cuisine. To draw in greater customers, the restaurant has been expanding the variety of its menu. (Dr. Jocelyn Lee Jia Lin, 2023) Social Factors: Social values differ in worldwide marketplaces. For example, the overall performance of the hen region in India is impacted with the aid of the country's higher vegan customer base. Therefore, the vegan menu must be prioritized above junk meals if the association needs to boost profitability. Furthermore, KFC must follow the customized given

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their love for spices to enter that market. Another example is that, besides Halal meat, the Islamic market demands a rigorous food processing method. These elements furnish a barrier to entry into new markets. However, the techniques used to elevate chickens are incompatible with the moral standards upheld with the aid of corporations that defend animal rights. Farmers use steroids to make hens large in 30 days because chicken demand is awesome. KFC cannot enter the United States of America if strict laws oppose these types of activities. Technological Factors: KFC has adapted swiftly to evolving technologies under these circumstances. KFC has done online ordering, order fulfillment, logistics, delivery, and social media channels to raise consumer involvement. Online offerings have also made it viable for the price plans. An enterprise that has all of these initiatives is extra productive and lucrative. Additionally, Pandey et al. (2021) claim that the organization benefited extensively from the efficiency of technology operations throughout the pandemic, as they made it possible to provide items to clients in areas that had been under lockdown. Environmental Factors: The worldwide market is making exquisite progress in decreasing carbon emissions and environmental illness caused by utilizing non-biodegradable waste goods. KFC has taken the lead in ensuring its operations contribute to a more sustainable and protected environment. Utilizing biodegradable packaging materials complies with societal norms. There are now heaps, much less plastic packaging merchandise on the market due to the policy of using recyclable and biodegradable packaging on a massive scale. KFC has stimulated sustainable practices that enhance the welfare of society through its operations. Legal Factors: Legislation about labor and worker welfare are amongst the prison issues affecting KFC. Workers in an organization have a proper to an impenetrable working

environment that promotes their usual well-being. KFC might also be concerned with criminal repercussions if it gives a low-profit rate, violating these standards. Another purpose for the law stems from the company's carelessness in imparting its clients with secure meals. The business was accused of supplying overindulged ingredients on one event and coming into contact with insects on another. KFC has a serious problem controlling the manufacturing of its junk food, which consists of fried chicken, fries, and grilled chicken, according to the regularly occurring SWOT and PESTEL analyses. The request for these hazardous foods coincides with an enlarge in the reputation of vegan diets. To ensure it always gives its clients protected meals, it must also exercise caution in its working procedures. Completing these two types of learning in-depth ensures the company's success in increasing into new markets or growing new products. International Market Entry Strategies ( https://slideplayer.com/slide/3931597/ ) Through joint ventures, exporting, partnering, franchising, mergers, and acquisitions, groups may additionally penetrate new markets. Since its founding, KFC has effectively extended its fast-food chain firm around the globe by using the franchising entrance strategy. KFC may additionally use an acquisition method that will steadily lower the range of restaurants dominating unique international locations that KFC pursues for its new product or new branch establishment. (Yikang Rui, 2016,)That would facilitate entrance into new markets

and lessen the escalating competition. Given the company's success with franchising, it is cautioned that this strategy be used for both market entry and mergers and acquisitions. ( https://www.linkedin.com/pulse/celebrating-50-years-kfcs-clucking-great-chickena-pr- strategy-ronald/ ) Franchises According to Belu (2008), this tactic grants companies licenses to function underneath a parent corporation's operations, branding, and way of life. Throughout its existence, KFC has observed this unique approach, which has helped the business open thousands of locations all around the globe. This approach has advantages and cons that impact the organization the usage of it to enter an international market. Benefits of Franchise Ownership As for the benefits, the first is that it makes it feasible for the new agency to be shortly identified in the market because the growth of the contemporary ones below the franchisor has made it possible. This potential that when the franchisee launches in a new market, they will spend less on marketing.

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Furthermore, the company's items and offerings have a ready market share, ensuring sturdy profitability whenever enterprise things get lower back up. The availability of skills and a well-established operations manner is the 1/3 benefit of using this technique. In contrast to starting from scratch, a franchise lets the franchisee quickly enter the market by offering guidelines and personnel training. (Kiura, 2017) If the franchisor has a solid reputation in the industry, there is a warranty of success, which is the fourth benefit. This feature allows the new agency to take on mounted companies with a sizeable market share. Finally, because the franchisor has already set up sourcing procedures, the new commercial enterprise has handy get admission to uncooked materials. Belu (2008) asserts that a franchisee with effective and tremendous supplier connections may also effectively enter and develop in new areas. Disadvantages of Franchising This tactic includes risks in addition to its several benefits. Among its drawbacks is the hefty upfront price of licensing. To use the franchisor's name, the new company must pay some prices that some investors can also locate prohibitive. Apart from the start-up expenses, the owner's business plans may also be disrupted by using the need to submit earnings on a normal foundation to the franchisor. This tactic prevents the owner from using revolutionary administration and operations strategies in terms of operations. These barriers may also prevent the organization from enforcing insurance policies suitable for local customers. Furthermore, if the owner feels compelled to switch company management, these obstacles make the sales system extra difficult. Furthermore, because the brand's picture is consistent, a single outlet's negative popularity might also negatively affect the organization and result in losses.

Notwithstanding these drawbacks, franchising is a superb business technique that helps groups grow into new areas and quickly generate profits. Under a franchisor, a new commercial enterprise swiftly distinguishes itself from impartial companies with difficulties entering a market. Consequently, KFC's increase and new market entrance have benefited from and still do from this approach. Mergers and Acquisitions Another tactic groups use to participate in overseas markets is mergers and acquisitions. To proceed operations under the acquirer's control entails purchasing and rebranding the entire employer (Kovaleva and Fedorova, 2019). The main purpose of this method is to enlarge operational synergy while decreasing competition. Benefits of Purchases and Mergers Increasing market share and aggressive advantage are two benefits of this technique. Profits may be made in substantial quantities when one corporation is in the market. An upward shove in synergy is the groundwork for this reasoning. A business enterprise might also profitably reach high effectiveness stages with fewer operational procedures. Because of the centralized nature of the activities, the corporation loses out on economies of scale. The methods can appreciably cut charges because sourcing, administration, and other tasks are centralized in one place (Kovaleva and Fedorova, 2019). Operations become more environment-friendly as a consequence of the ensuing business combination.

The Drawbacks of Acquisitions and Mergers It could take time and resources to accumulate a corporation with awful economic overall performance or negative market rankings to enhance its reputation. Customers can also think this new aggregate is inappropriate for their demands, providing development challenges. Because of this, the acquisition can also not have the favored effect of synergy at first. Customers may also want time to adjust to the new establishment's adjustments because the two corporations may comply with awesome cultural customs. Mergers and acquisitions result in a reduction of synergy and make bigger in diseconomies of scale. In marketplaces where numerous small agencies dominate, mergers and acquisitions may also be a fantastic alternative strategy to breaking into new markets. However, it could result in a monopoly that undermines the welfare of buyers (Kovaleva and Fedorova, 2019). This method would be appropriate for KFC's goal to enter overseas markets when it competes with these markets. New Product Development KFC must innovate and prioritize making investments in vegan meals. A large shift from the initial operations is critical to cater to the health-conscious consumer, given that there is a developing desire for healthier food options. As a result, it may begin off high priced but stop being worthwhile. When used correctly, the Ansoff matrix software in this method will furnish superb outcomes. With the help of this approach, companies might also effectively integrate boom plans into their daily operations. Evaluating them takes into account the target market and the items. The product examines the firm's development goals, each now and in the future.Conversely, it looks for the goal markets after achieving growth as properly as the markets now supplied.

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According to this mannequin, four growth strategies aid market growth (Prasetyo and Rahman, 2018). Some tactics include product development, diversification, market development, and market penetration. Market Expansion With this plan, the enterprise hopes to enhance the income of its present-day line of goods and services. In KFC's situation, despite the launch of the new product, its present objects ought to experience a regular market. Segmentation might also enlarge the target market to enforce this approach. For example, a product designed exceptionally for youngsters should be adjusted to fit adults, mainly for market growth. A Broadening This tactic entails introducing new goods or breaking into untapped areas to attain market share, diversify risks, and enhance profitability. It entails coming into uncharted territory with the hopes of discovering success. Moreover, there is a full-size level of chance given that the goal markets, goods, and services are awesome (Prasetyo and Rahman, 2018). KFC may additionally sell its products with the aid of various diversification strategies, such as conglomerate, vertical, and horizontal diversification. Entering the enterprise of suppliers or other stakeholders linked to the company's primary tasks is the first step in vertical diversification. For example, KFC can raise chickens to lower the product fee and provide it to other eateries. The purpose of horizontal diversification is to produce goods that, though distinct from the foremost product, are preferred utilizing the target market. This tactic can encompass treating and bottling consuming water for usage at

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KFC locations. The conglomerate class calls for funding an awesome venture that includes amusement facilities at KFC locations, such as swimming pools. Product Creation Research and improvement charges are crucial for this approach to discover objects that will work in the target market. In this approach, a commercial enterprise appears for market gaps and develops funding plans that guarantee the product's business success. KFC can also put this approach into practice by renaming different companies' items to ignore for their own and acquiring the manufacturing rights from such companies. Industry Infiltration This tactic intends to supply a product or service with a larger market share in the present market. To draw in more customers, it may also consist of presenting greater complimentary services, giving out discounts, or doing a lot of promotions. Using the Ansoff matrix, KFC can use all 4 strategies and attain the widest variety of customers in the quickest quantity of time by growing a can. The four tactics aid this company's foray into new overseas markets. Nonetheless, market penetration will be fantastic for growing vegan menu items for KFC patrons. Brand Management Building a relationship of reciprocity between customers and the company's goods and services is a phase of company management. Kevin Lane Keller's Brand Equity Model aims to construct a rapport and comprehension between an employer and its clientele. It locations a center of attention on learning how to make customers experience top about the company in query (Keller, 2015). Customers' correct perceptions, beliefs, and gorgeous experiences are developed during this process. Positive opinions about a product or carrier lead to improved purchases, consumer loyalty, and probably word-of-mouth referrals. The four phases of this

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idea are manufacturer resonance, customer response to the brand, company recognition, and company definition. Brand Recognition Understanding the goal market and then rebranding or developing a promotional message that meets their wants and expectations for consumption are the steps in this process. For example, KFC may not have favored vegetarians or health-conscious clients by running under the title "fried chicken" in its commercial enterprise dealings. As a result, it has catered to everyday consumers and vegans via rebranding as KFC. By supplying goods and services that satisfy customers' demands, this cross helps the brand differentiate itself from opponents (Keller, 2015). It might be useful to investigate how customers see the brand, how it differentiates itself, and how they go through to make a purchase. Brand Context In this phase, Keller's method places a strong emphasis on how customers become aware of the brand's overall performance and imagery. In phrases of performance, clients show how the product helps them to meet their requirements in an environment-friendly manner. However, imagery is the psychological and social attraction that the product satisfies the purchaser's demands (Keller, 2015). At this point, the company's experiences in constructing relationships with the target market are equally crucial. The values consumers have for distinct gadgets additionally play a vital function in forming a brand. KFC might also increase its profitability by demonstrating its care for eco-friendly manufacturing methods and healthy consumption habits.

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Consumer Brand Reaction Customers react with their opinions or sentiments when introducing a new product or service. Their crucial reactions center on excellence, quality, credibility, and consideration. However, if their needs are met, humans should ride joy, excitement, social acceptance, and self- respect. By developing online discussion boards where customer carriers might also answer consumers' questions, KFC can hold an eye on these answers. (Paul Hong, 2006) Brand Consistency Resonance, the final segment in Keller's strategy, is constructing a solid relationship between the manufacturer and its clients. In this stage, the customer exhibits bonding in various ways, consisting of a feeling of loyalty using their conduct, a sense of connection, and energetic participation in the business's activities. In order to enhance a moneymaking company in the long run of operations, the agency must maintain and deepen the link set up between the manufacturer and the buyers (Keller, 2015). Offering reductions and growing the availability of extra offerings and items to meet the evolving needs of shoppers may be phases of the strengthening process. Using this ultimate segment to make vegan meals, KFC might also participate in advertising initiatives that attract additional customers. It may also draw in extra customers by presenting committed vegan clients with one-of-a-kind bundles. Reccomendations and Conclusion Due to the many limitations in these markets, investment in overseas markets and the advent of new goods want strict methods to succeed. Therefore, doing situational analysis, investigating new product development, investigating entrance tactics, and managing a company's manufacturer is vital to its success. Analyzing the SWOT and PESTEL elements

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that affect KFC's growth can assist in making these plans attainable. Based on the two evaluations, KFC's capability to grant customers healthful items is lacking. The well-being of its purchasers needs to be the restaurant's first priority as the world becomes more conscious of the blessings of ingesting healthily. Through franchising, get right of entry to the new international markets has been made possible. However, because nearby eateries pose a danger to KFC's success in international markets, putting into practice a merger and acquisition format may be more advantageous. In light of the company's approach to creating new products using the Ansoff product development model, market penetration has a tremendous potential to draw in new clients for the business. This method deconstructs the most sensible approaches an agency may use to create a successful new product. Lastly, KFC ought to oversee the improvement of its manufacturer from debut to large market acceptance. One approach to this may be to use Keller's brand administration model. Through manufacturer identification, manufacturer meaning, patron response management, and manufacturer resonance, this strategy makes positive that the manufacturer and its patron are linked. Using these strategies may lead to a successful brand in the long run when you consider that KFC has a strong reputation and excessive profitability while facing tough legal cases and economic downturns.

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References 1. Anjan Pal, A. Y. C. D. H.-L. G., November 2017. Does KFC sell rat? Analysis of tweets in the wake of a rumor outbreak. Aslib Journal of Information Management, Vol. 69(No. 6), pp. 2050-3806 pg. 2. Belu, M. (2008, January 1). Strategies for entering new markets . ResearchGate. https://www.researchgate.net/publication/24047555_Strategies_of_Entering_New_M arkets 3. DAVID, J., n.d. SWOT analysis of KFC (Kentucky Fried Chicken). [Online] Available at: https://www.howandwhat.net/swot-analysis-kfc-kfc-swot-analysis/ [Accessed 2023]. 4. Dr. Jocelyn Lee Jia Lin, D. H. L. L. D. G. S. L. M. A. B., (2023). Service Quality on Customer Satisfaction and Its Impact on Customer Loyalty at KFC in South and Southeast Asia. Vol 6(, No 3). 5. Furdyk, B. (2020, February 4). The biggest scandal to hit KFC . Mashed.com. https://www.mashed.com/186817/the-biggest-scandals-to-hit-kfc/ 6. George Kofi Amoako, L. D. C. R. K. D., 2023. Service recovery performance and repurchase intentions: the mediation effect of service quality at KFC. Journal of Hospitality and Tourism Insights, pp. 110-130 pg. 7. Hung-Che Wu, C.-C. C., 2018. What Drives Experiential Loyalty Toward Smart Restaurants? The Case Study of KFC in Beijing. Journal of Hospitality Marketing & Management, Volume 27,(- Issue 2), pp. Pages 151-177. 8. Keller, K. L. (2015). Strategic brand management: Building, measuring, and managing brand equity . 9. Kiura, J. M., 2017. Franchising Strategy and Competitive Advantage of International Foreign Fast Food Firms in Kenya. 10. Lin Zhu, D. A., 2017,. Social media and culture in crisis communication: McDonald’s and KFC crises management in China. Public Relations Review, September , Volume 43,(Issue 3,), pp. Pages 487-492.

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11. Lina Wang, F. Z. G. Z., 2023. Analysis on the Impact of Large-Scale Sports Events on Regional Economy Based on SWOT-PEST Model. Volume 2022,Article ID 7769128 12. Melson, L. H. S. T. S., 2023. Analisis Lingkungan Eksternal pada Perusahaan Kentucky Fried Chicken (KFC) di Indonesia. Jurnal Sains dan Teknologi, Vol. 4(No. 3), pp. 98-105 pg. 13. Omer, S. K., 2018. SWOT ANALYSIS; THE TOOL OF ORGANIZATIONS STABILITY (KFC) AS A CASE STUDY. JOURNAL OF PROCESS MANAGEMENT NEW TECHNOLOGIES INTERNATIONAL, VOL. 6(NO. 4). 14. Paul Hong, J. N. W. H., 2006. Global supply chain strategy: a Chinese market perspective. Journal of Enterprise Information Management, Vol. 19(No. 3,), pp. 320- 333 pg. 15. Shaw, A. A. (2021, January 14). SWOT analysis of KFC . SWOT & PESTLE Analysis. https://swotandpestleanalysis.com/swot-analysis-of-kfc/ 16. Galande, S. (2019). THE STUDY OF IMPACT OF SENSORY BRANDING ON CONSUMERS WITH SPECIAL REFERENCE TO STARBUCKS & KFC. http://www.ijciras.com/PublishedPaper/IJCIRAS1142.pdf 17. Kovaleva, M. S., & Fedorova, N. Y. (2019). Alliances, mergers & acquisitions in the modern international business (Doctoral dissertation). https://eir.kntu.net.ua/jspui/handle/123456789/302 18. Prasetyo, P. E., & Rahman, Y. A. (2018). "Effectiveness of New Product Development on Mat Creative Industry" in International Conference on Economics, Business and Economic Education 2018, KnE Social Sciences, pages 633–653. DOI 10.18502/kss.v3i10.3160 19. Pandey, R., Rao, K. S., Er, C. C., Kee, D. M. H., Chua, W. J., Hon, H. S., & Narendath, P. (2021). A Case Study of Consumer Satisfaction of Kentucky Fried Chicken. International Journal of Tourism and hospitality in the Asia Pacific (IJTHAP) , 4 (2), 98-111. https://ejournal.aibpm.org/index.php/IJTHAP/article/viewFile/1060/1005 20. Yikang Rui, H. H. ,. L., 2016,. A Comparative Analysis of the Distributions of KFC and McDonald’s Outlets in China. ISPRS Int. J. Geo-Inf, 5((3),), p. 27.

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