Wednesday, August 28, 2019
KFC Marketing Plan Research Paper Example | Topics and Well Written Essays - 3750 words - 1
KFC Marketing Plan - Research Paper Example There are various economic forces that have a significant impact on the business operations of KFC (KFC, 2014a). This organization is greatly affected by global and national economic factors such as inflation and interest rates, cost of labor, stages of business cycle, unemployment rates and growth rates of economy (KFC, 2014a; Pride & Ferrell, 2012). The recession factor has affected the overall income of KFC and this has resulted into making some employees jobless and others hired for fewer hours (Ohme, Birinyi and Gupta, 2010). This was in major part due to the cutting down of the budget by the company. Economic forces restrict customers to spend lavishly in such fast food outlets (Ferrell & Hartline, 2014). Government procedures and policies to a certain extent provide the required guidelines for smooth functioning of business operations of an organization (Ferrell & Hartline, 2014). There are certain political forces that affect operations of KFC and these forces encompass some legal factors. Notably, the actions taken in political fields leads to guidelines that affect a restaurantÃ¢â¬â¢s customer satisfaction, menu, payroll and profits (Jurevicious, 2013). The stability of the political environment, position of government in relation to market ethics, government view on religion and culture, policies of government with respect to economy, and taxation policy on incentives and tax rates are the major forces that outlines the political environment (Ohme, Birinyi and Gupta, 2010). For instance, the intense rivalry of national election season can generate problems for KFC by creating an environment of negativity among the patrons (Jurevicious, 2013). In this case, the ambiguity about the economic conditions hinders spending. Therefore, patrons concerned about the national budget are probable to reduce their spending, which implies less eat outs.
Posted by Unknown at 12:43 PM