KFC’s sustainable competitive advantage lies in its adherence to the product and service differentiation and market recognition of specialization (Guide, 2006).
What is the oldest fast food restaurant
Most historians agree that the American company White Castle was the first fast-food outlet, starting in Wichita, Kansas in 1916 with food stands and founding in 1921, selling hamburgers for five cents apiece from its inception and spawning numerous competitors and emulators.
What is customer knowledge explain the value of customer knowledge
Customer knowledge (CK) is the combination of experience, value and insight information which is needed, created and absorbed during the transaction and exchange between the customers and enterprise.
What is an example of target market
A target customer is an individual that’s most likely to buy your product. And it’s a subset of the broader target market.
For example, if your target market is female athletes between the ages of 13 to 25, a target customer could be female athletes in the specific age range of 13 to 16.
How are market demographics segmented?
- Age
- Gender
- Ethnicity
- Income
- Level of education
- Religion
- Occupation
- Family structure
Who has the slogan Have it your way
Back in the early ’70s, the folks at Burger King developed an exceptionally successful ad campaign with the slogan, “Have It Your Way,” based on the fast-food chain‘s willingness to tailor orders to each individual’s tastes and preferences.
What is Behavioural market segmentation
As the name implies, behavioral segmentation in marketing is a method of grouping customers by their behavior patterns.
These behaviors may relate to the customer lifecycle, such as getting married, having a baby, or buying a home, or to seasonal patterns like holiday shopping and summer vacations.
Which is the largest fast food chain in the world
(MCD) McDonald’s is the world’s largest fast-food restaurant chain and one of the best-known brand names.
The company has more than 39,000 locations in about 100 countries.
How do you identify your target market?
- Analyze your offerings
- Conduct market research
- Create customer profiles and market segments
- Assess the competition
What is market positioning strategy
What is positioning strategy? Positioning is a marketing strategy, also referred to as product positioning, to promote your product or service to customers relative to competing brands.
The goal is to establish a single defining characteristic for your brand in the consumer’s mind.
What is the market segmentation
Market segmentation is an extension of market research that seeks to identify targeted groups of consumers to tailor products and branding in a way that is attractive to the group.
What is Behavioristic segmentation
What is behavioral segmentation? Behavioral segmentation refers to a process in marketing which divides customers into segments depending on their behavior patterns when interacting with a particular business or website.
What is broad differentiation strategy
What is a broad differentiation strategy? A broad differentiation strategy consists of building a brand or business that is different in some way from its competition.
It is applied to the industry and will appeal to a vast range of consumers.
What is brand positioning
Brand positioning has been defined by Kotler as “the act of designing the company’s offering and image to occupy a distinctive place in the mind of the target market”.
In other words, brand positioning describes how a brand is different from its competitors and where, or how, it sits in customers’ minds.
What is a positioning statement
A positioning statement is an expression of how a given product, service or brand fills a particular consumer need in a way that its competitors don’t.
Positioning is the process of identifying an appropriate market niche for a product (or service or brand) and getting it established in that area.
Sources
https://www.passionateinmarketing.com/case-study-burger-king-is-failing-heres-why/
https://www.reuters.com/article/us-burgerking-idUSTRE7AS2NP20111129
https://www.clootrack.com/knowledge_base/what-is-consumer-behavior
https://www.thebrandingjournal.com/2016/11/brand-positioning-definition/
