KFC and the Global Fast Food Industry
...s to be considered to succeed in the fast food industry: - · To succeed a fast food chain should always be working in improving their quality of food they offer to their consumers. · The development of new product from time to time is critical to stay on top of the market; consumers always look forward to new products that businesses have to offer. · The frequent analysis of demographics helps the business to keep active awareness of a risk in the change of their target market in a particular area. The analysis helps businesses keep track of any change needed to cater to changing demographics. 3. KFC’s internal strengths and weaknesses: - · One of KFC’s internal strengths is its early experience in the international market. Due to the fact that it was among the first to enter the market it had early experience on what international markets demanded while other chains where still experimenting. · The independent franchising strategy resulted to loyal and competitive franchisees, which leaded to a strong competitive force. · A weakness that KFC had was the fact that there menu was limited and new products where rarely or slowly coming in. External opportunities and threats · A external opportunity that KFC has is that it can expand its operations to Latin America which consisted of countries which held potential for a new fast food chain. · The threats that KFC would have externally would be the competition against them that is every growing and new ones erupting. · Another threat would be the political, Economic and natural risks of countries they would like to expand into. 4. Major strategic issues surrounding KFC’s decision to expand or freeze growth in Latin America: - · One factor that KFC’s considered to be the reason to freeze growth, is because the countries have constant changes in political status and economic environment. · Expanding growth in the some Latin countries was beneficial because of the free trade agreement that was arranged between them and the U.S. · Due to the fact that geographic proximity between the countries was as such that communication and travel was made easy, this point would ho...