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A report of a foreign companys marketing strategy in China Essay Example

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A report of a foreign companys marketing strategy in China

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The industry has recorded a compounded annual growth rate (CAGR) of 13 percent over the last five years from 2008 to 2013 (IBIS World, 2014). The main reasons for a high growth rate in the industry is the lifestyle changes and reduced leisure time whereby customers have moved away from full service restaurants and instead patronized QSRs. The other main factors for the growth of QSR industry in the country are increasing income levels and exposure to the western culture and values.The restaurant industry in China managed to keep its head above the water even during difficult economic conditions. The restaurant sector as a whole has the support of the Chinese government which intends to give a boost to the overall service sector in the country as a part of its five-year national development program.As a young child, Colonel Sanders did a lot of cooking at home and mastered quite a few regional dishes. As an adult, he switched various jobs but wasn’t satisfied. In 1930, the Colonel opened his first restaurant, ‘Sanders Court & Cafe’ in a small front room of a gas station. Thereafter, there was no looking back for him and his business.The Colonel experimented with numerous seasonings to flavor his chicken. His unrelenting commitment to develop recipes that would satiate the taste buds of his consumers led him to develop a secret recipe of 11 herbs and spices (KFC, 2014). The clandestine recipe and the basic cooking techniques developed by Colonel Sanders are used at KFC outlets even today.KFC has some immensely popular chicken items like Extra Crispy, Kentucky Grilled Chicken, Go Cups, Hot Wings and Original Recipe Bites. Doublicious and Chicken Littles are KFC’s major sandwiches. The company’s sides that find favor with the consumers include mashed potatoes, Cole slaw, wedges, green beans, biscuits, whole kernel corn and corn on the cob. The pot pie and famous bowl are two immensely popular classics sold by KFC. The consumers can also buy scrumptious chocolate chip cake and chocolate chip cookies at KFC outlets. Last but not the least, consumers can have sweetened or unsweetened ‘Colonel’s Iced Tea’ in addition to any of the Pepsi’s beverages at KFC outlets (KFC, 2014).From a humble beginning, the restaurant chain has grown by leaps and bounds to become a major international force to reckon with. At present, KFC operates more than 17,000 restaurants in more than 115 countries

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Works Cited

BBC News,. KFC Owners Profits Get China Boost. N. p., 2014. Web. 11 May. 2014.

Cariaga, Vance. "Yum Brands Boosted as KFC, Tacos Look Tasty in China." Investors Business Daily Jan 07 2014. ProQuest. Web. 10 May 2014 .

Cho, Karen. KFC Chinas Recipe for Success. Fountainebleau: INSEAD, 2009. ProQuest. Web. 10 May 2014.

Euromonitor International. Country Report Fast Food In China. 2014. ProQuest. Web. 10 May 2014.

 FlorCruz, Michelle. KFC China Promotional Disaster: Yum Brands Company Criticized For Ripping Chinese Customers Off. International Business Times 2013. Web. 11 May. 2014.

IBIS World. Fast-Food Restaurants In China: Market Research Report. 2014. ProQuest. Web. 10 May 2014.

KFC. 2014. Web. 10 May. 2014. < http://www.kfc.com/>

"KFC China Launches New Menu and Marketing Strategy Nationwide." Business Wire Mar 27 2014. ProQuest. Web. 10 May 2014.

"KFCs Ongoing Issues with Chinese Chicken Hurts Yum." Advertising Age 84.36 (2013): 5. ProQuest. Web. 11 May 2014.

Shen, Qiaowei, and Ping Xiao. "McDonalds and KFC in China: Competitors Or Companions?" Marketing Science 33.2 (2014): 287,307,310. ProQuest. Web. 11 May 2014.

Stuenkel, Oliver. "Emerging Powers and Status: The Case of the First BRICs Summit." Asian Perspective 38.1 (2014): 89-109.ProQuest. Web. 11 May 2014.

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preview essay on A report of a foreign companys marketing strategy in China
  • Pages: 9 (2250 words)
  • Document Type: Essay
  • Subject: Marketing
  • Level: Undergraduate
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