Based on the knowledge you have learned, find out the methods, methods and achievements of a marketing strategy for any product or brand in the market you want to research and learn

In the face of the ever-changing business environment in the international market, with increasingly fierce competition like today, each business needs to find a right direction to keep

INTRODUCTION

REASON FOR CHOOSING TOPIC

The international market remains a primary objective for many businesses globally, offering numerous benefits, opportunities for growth, and the potential for higher profits The emergence of fast food chains has enriched this market, with renowned brands like KFC, Lotteria, Jollibee, Pizza Hut, Burger King, and McDonald's leading the way In Vietnam, KFC stands out with a significant market share and a robust distribution network, representing a world-famous brand that aligns with new trends and lifestyles, making it an ideal subject for research in the burgeoning Vietnamese fast food sector.

OBJECTIVES OF CHOOSING A TOPIC

The group's objective is to analyze KFC's operations and marketing strategies in the Vietnamese market, focusing on product, pricing, and integrated marketing communication (IMC) strategies This evaluation will include KFC's market penetration tactics in Vietnam Subsequently, the group aims to propose solutions and develop a new IMC strategy to help KFC navigate market saturation and achieve greater success in the future.

OBJECT AND SCOPE OF THE STUDY

Research object: KFC in Vietnam market

Research scope: Focusing on KFC's marketing strategy in the Vietnam market.

RESEARCH METHODS

This essay employs specific quantitative methods, including comparative analysis, utilizing data gathered from diverse sources such as the internet and newspapers within the company By analyzing the collected information, we will distill and refine the essential details needed to enhance the article's content.

THEORETICAL BASIS

CHALLENGE OF INTERNATIONAL MARKETING AND THE DYNAMIC

International marketing involves business activities aimed at planning, pricing, promoting, and distributing a company's goods and services to consumers across multiple countries for profit While domestic marketing focuses on a single nation, international marketing encompasses diverse and complex operations due to its global nature The primary objective remains the same: to generate profit by effectively targeting markets where demand exists.

1.2 Analysis of the marketing environment:

Philip Kotler, known as the father of marketing, defines the marketing environment as all external factors influencing a business's marketing activities and internal communication strategies with target customers (Phuong, 2022) He categorizes the marketing environment into two main groups: the micro-marketing environment and the macro-marketing environment.

PESTLE Analysis, which stands for Political, Economic, Social, Technological, Legal, and Environmental factors, offers insights into macroeconomic issues that influence organizations The political landscape and government policies significantly affect business operations.

It also determines how convenient a country is to do business in

Economic environment, businesses need to pay attention to both short-term and long-term factors

And government intervention in the economy Usually businesses will rely on the analysis of economic factors After deciding to invest in industries and regions

Each country and territory possesses a unique social environment characterized by distinct values that influence consumer behavior Cultural values play a crucial role in shaping these societies, promoting their existence and development.

The scientific and technological environment is constantly improving and has a certain influence on people's lives A series of new technologies are born and integrated into products and services

Legal includes both external and internal factors There are certain laws that affect the business environment in a certain country while there are policies that companies maintain for themselves

Environment includes all factors that affect or are determined by the surrounding environment

This aspect of PESTEL is very important for a number of industries, especially tourism, agriculture, etc

The microenvironment encompasses various interrelated factors that directly influence a business's marketing effectiveness and outcomes Key elements within this environment include the company itself, its financial resources, human capital, suppliers, marketing intermediaries, competitors, customers, and the surrounding community Understanding these factors is essential for optimizing marketing strategies and achieving business success.

The effectiveness of marketing is primarily influenced by the business itself, as it serves as the closest factor impacting marketing strategies This influence is immediate and significant, shaping the direction of marketing plans, budgets, and the scale of campaign deployments.

Suppliers are crucial to the supply chain, as the quality of raw materials they provide directly impacts the quality of the final product after production.

Marketing intermediaries are organizations or individuals that represent and assist businesses in one or more stages of the process of bringing products/services and business values to consumers

The customer lies at the heart of the microenvironment, driving all marketing efforts aimed at enhancing satisfaction Understanding their needs, desires, spending patterns, and consumption behaviors is essential for businesses to develop effective strategies that deliver value.

Competitors play a crucial role in shaping businesses, as competition drives continuous improvement in product and service quality In a market economy, this competitive landscape resembles an ongoing race, where there are no definitive winners or losers, highlighting the importance of adaptability and innovation for success.

The public are individuals, organizations that are outside the business's market but have certain impacts and influences on the effectiveness of the business's operations

SWOT analysis is one of the important factors to create business strategy for enterprises Basically, SWOT analysis means analyzing 4 factors: Strengths, Weaknesses, Opportunities and Threats.

SWOT analysis encompasses four key elements: Strengths, which are the unique characteristics that provide a competitive edge; Weaknesses, which identify areas where the business or project falls short compared to competitors; Opportunities, representing external factors that can be leveraged for growth; and Threats, which are environmental challenges that could adversely affect the business or project.

INTERNATIONAL MARKET ENTRY STRATEGY

Market penetration refers to the effective sale of a product or service within a new market It is quantified as the ratio of the total number of products or services utilized by customers to the overall size of the target market for that particular product or service.

2.1.1 Importance of market penetration strategy for businesses:

Market penetration strategies focus on boosting a company's market share for both new and existing products introduced to new markets through effective marketing efforts These strategies are typically implemented during the initial stages of the product life cycle, particularly during the launch phase, when consumer awareness is low and sales figures are modest To overcome this challenge, companies must heavily invest in marketing communication strategies to effectively promote their products and services to potential customers.

2.1.2 Cases where market penetration strategy should be used:

As businesses experience increasing economies of scale, they gain significant competitive advantages There is a notable relationship between marketing expenditures and historical sales figures, particularly as overall industry consumption rises and competitors lose market share Additionally, the usage rate of existing customers can see substantial growth when a product or service is not yet saturated in its current market.

To effectively determine market size, businesses should follow a structured approach that includes a top-down analysis, a bottom-up assessment, and a thorough competitor analysis These three essential steps provide a foundational understanding of the market size, enabling companies to identify their target market more accurately.

Market segmentation is a crucial step in effective market penetration, focusing on dividing the market into identifiable segments to better attract potential customers and meet their needs efficiently This process includes various approaches such as consumer market segmentation, which encompasses geographical, demographic, psychological, and behavioral factors; enterprise market segmentation; and international market segmentation.

Following a thorough market analysis and evaluation of your company's capabilities, it's essential to prioritize markets with high growth potential and profitability The chosen target market should represent an appealing segment that aligns with your business objectives and available resources.

Product positioning is essential for companies to establish their unique brands By effectively positioning a product or service in the market, businesses can create distinctive designs that set them apart from competitors.

Pricing a product involves multiple factors beyond just the costs incurred before a sale; it requires a strategic approach Begin by calculating the total cost of the product, then conduct thorough market research and customer segmentation Next, establish the desired profit level for your business With this information, you can set the retail price, followed by determining the wholesale price.

2.2.6 Choose the right penetration strategy:

As stated before, we have six popular market entry strategies developed based on current situation, statistics, customers, market and even business objectives and conditions

2.2.7 Marketing to increase market share:

Marketing to increase market share is a way to help businesses be more successful in the "market"

Effective marketing strategies not only capture a significant market share but also offer numerous advantages for businesses, including lower retail discount rates and enhanced profits By innovating or improving products, targeting new market segments, and diversifying marketing approaches, companies can boost their sales and strengthen their position within distribution channels.

2.2.8 Customer feedback survey and product improvement:

Collecting customer feedback is essential for evaluating the effectiveness of your marketing strategies Utilize both online and offline market surveys to gather user data By understanding customer needs and preferences, you can develop innovative plans and enhance your products to align with market trends, ultimately driving greater business success.

2.3 Ways to enter the international market:

Reach local markets and potential customers quickly

The distribution chain will be shorter than the export alone

More control over marketing mix strategies – 4Ps (especially with agencies)

Support local sales and accompanying services of agents and distributors

Less control over market prices, limited control over distribution capabilities

Need to invest in a sales organization (exporters will find and contact agents and distributors through the sales team)

Sometimes there are cultural differences, leading to communication problems and possible information conflicts Trade restrictions may occur

Limited resources, no need to invest much

The degree of market diversification is high when the company takes advantage of the internationalization capabilities of an experienced exporter in the market

Very little risk (market-related, political)

Uncontrollable marketing and sales factors

Adding a member in this distribution chain can increase costs, which in turn reduces profits for the manufacturer

Little direct exposure to the market (no market knowledge)

Limited product issues (distributors focus on commercial issues only)

If the wrong distributor is selected, it may affect the market, efficiency, etc., thereby hindering the company's ability to operate

The ability to enter multiple markets simultaneously using multiple licensors (or a single licensor with market access over a large area)

There is a possibility of market entry with high barriers

The company can make quick profits without having to invest too much and without incurring the costs and risks associated with a licensed company in the foreign market

Save on marketing and distribution costs, these activities are carried out by licensees

Help the licensed company better understand the market knowledge, business relationships and cost advantages of the licensed company

Minimize the possibility of encountering difficult situations such as economic and political instability abroad

Licensees can become competitors at the end of the contract period because they can use the technology and take away the licensor's customers

Not all companies can use this model, the company must have certain intellectual property rights, or the brand and product are of interest to other businesses

The licensor's income, in particular royalties, will not be as much as if it produced and marketed the product itself

There is a risk associated with trust, where licensees report lower sales to reduce royalty costs

Used by companies inexperienced in international business

Reduce costs for customers when transporting bulky goods abroad

Including the pros of the licensing method

The franchisor is knowledgeable about the local market

Rapid expansion into foreign markets with low investment costs and standardized operations, franchisors have low political incentives and low risk tolerance

Covers the cons of the licensing approach

The initial franchise will require more capital, so it will suit large companies with a good brand image As a result, small businesses will often have problems using this penetration method

The franchisor has no control over the day-to-day operations of the foreign franchisee As a result, there will be risks related to unwanted product and service quality

More responsibilities, more complicated than licensing or exporting methods

Joint ventures accelerate access to foreign markets by leveraging the local partner's established relationships and expertise The local partner often has valuable connections with government entities, insights into credit lines, regulatory approvals, and knowledge of local supplies and utilities Additionally, they bring a qualified team with cultural understanding, enhancing the joint venture's chances of success in navigating the complexities of the new market.

As expenses rise and the risks associated with entering foreign markets escalate, companies can mitigate these challenges by partnering with domestic firms to share costs and risks In numerous countries, political factors often render joint ventures the most feasible approach for market entry.

Shared ownership can lead to conflicts and struggles for control over different goals and objectives

Joint ventures can create other foreign market entry opportunities

Joint ventures are often time-limited and lack permanence Businesses need to ensure that they have enough financial capacity to do so

A key disadvantage of a joint venture is the risk of a company relinquishing control over its technology to a partner, which could lead to that partner becoming a competitor However, this risk can be mitigated through the inclusion of confidentiality clauses in the joint venture agreement.

The reputation of the joint venture partner gives credibility to the joint venture in the local market, especially with existing key suppliers and customers

Increased leverage: Strategic alliances allow greater results from the company's core strengths

Risk Sharing: A strategic alliance with an international company will help offset market risks and allow joint exploitation of new opportunities

Growth opportunities: Strategic alliances provide the means by which small companies can grow

Better responsiveness: By allowing growth to focus on its core strengths, strategic alliances provide the ability to react more quickly to changes and spot opportunities

High commitment – time, money, people

Difficulty in identifying a suitable partner Potential conflicts between partners

A small company is at risk of being replaced by a larger partner

Strategic priorities may change over time

Political risks in the country where the strategic alliance is based

If the relationship is broken, cost, ownership of market information, market information, and co-developed products may be an issue

Share risk and financial burden

Separate resources can be shared to create a competitive advantage

Being able to conduct a big project which the firm can’t do itself

Less formal and requires less commitment between the coalition parties

FDI does not leave a debt burden for the Government of the host country

Foreign investors utilize their own capital to engage in business activities, overseeing production and operations while fully assuming responsibility for the outcomes of their investments Countries that receive Foreign Direct Investment (FDI) face fewer restrictive conditions, allowing for a more favorable investment environment.

FDI can be maintained for a long time, from when an economy is still at a low level of development until it reaches a very high level of development

Excessive reliance on foreign direct investment (FDI) can detract from efforts to maximize domestic capital mobilization, resulting in an imbalanced investment structure and potential economic dependency on foreign funds.

100% foreign-owned companies implement competition policies by way of dumping to monopolize or dominate the market, overwhelm domestic enterprises

Table 2.1: Advantages and disadvantages of ways to enter the international market

PRODUCT AND SERVICE FOR CONSUMERS

Product or service is whatever we can buy Service is also a product Products have two types that are consumer products and industrial products

A consumer item that is widely available and purchased frequently with minimal effort Because it can be found readily, it does not typically involve an intensive decision-making process

Shopping products are items that consumers purchase infrequently and typically compare with various alternatives before making a decision These purchases require careful planning, time, and effort, as consumers weigh factors such as cost and convenience Although not bought regularly, the decision-making process for shopping products is crucial and involves significant consideration.

Consumer products and services with unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchase effort

Consumer products that consumers do not know or know but usually do not think to buy such as life insurance, funeral services, etc

Product attributes encompass both tangible and intangible elements that enhance their value Tangible attributes include quality, features, material, size, weight, design, comfort, packaging, and performance, while intangible attributes consist of brand image, style, installation, delivery, credit, warranty, after-sales service, and return policy Understanding these attributes is essential for recognizing the benefits of products and services.

Product platform, design features, functional features

Core components are the fundamental characteristics that allow a product or service to satisfy the needs and expectations of its target audience Depending on the specific market, functional features can be adjusted or modified to enhance relevance and appeal.

Styling, packaging, labeling, trade marks, brand name, quality, prices, other aspects

Flexible packaging design tailored to regional consumer behavior is essential for success Different countries have varying requirements, such as the need for multilingual labels or restrictions against foreign languages Additionally, packaging elements can carry unintended meanings, necessitating careful adjustments Ultimately, effective packaging can significantly influence a product's market success.

Companies often need to frequently adjust their product packaging to comply with varying international laws regarding size, measurement units, and labeling requirements These regulations differ significantly from one country to another, creating challenges for businesses that operate in multiple markets Adapting to these diverse labeling laws is crucial for companies aiming to successfully sell their products globally.

Repair, maintenance, instruction, installations, warranties, deliveries, spare parts

Many marketing programs falter due to insufficient focus on product components like repair and maintenance, particularly in developing countries Preventive maintenance practices often clash with local cultural norms, and varying literacy rates necessitate adjustments to product instructions Additionally, terminology that is clear in one region may be completely misunderstood in another, highlighting the need for culturally sensitive communication.

The quality of product or service according to the customer’s perception

What is the overall “performance” of the product or service (firm's perspective)?

To successfully enter the market, alternative products must satisfy performance quality standards, which ultimately influence market-perceived quality When multiple products meet these performance criteria, consumers tend to select the one that aligns best with their perceived quality attributes.

Criteria to adapt (legal, economic, political, technological, climate requirements) → Product homologation (the changes mandated by local and service standards) → Physical requirements,

Mandatory requirements with culture adaptation (Many believe adaptation occurs most often based upon local laws, or policies that are economic, political or environmental)

Green marketing and product development: Quality is associated with customer satisfaction

Customer satisfaction indexes developed are now being used to measure satisfaction across a wide variety of consumer products and services

The product life cycle outlines the various stages a product goes through, from initial concept to market exit This cycle can vary in duration based on factors such as the industry, market dynamics, and the strategic efforts of the business involved.

This strategy is implemented during the initial phase of a product or service launch, where a premium pricing approach highlights the product's technological superiority and superior quality Coupled with significant promotional expenditures, the goal is to generate quick and extensive market awareness, enticing a large consumer base to experience the product.

The quality improvement strategy indicates that a business has achieved significant growth and is now prioritizing the enhancement of its product or service quality to boost customer satisfaction and strengthen its competitive edge This approach is essential for maintaining or expanding market share in a highly competitive landscape.

Adding features: Adding features to a product like more storage or a more powerful processor, can improve the product's performance and value

Removing features: Removing features from a product can reduce its cost and make it more suitable for certain use cases

Replacing components: Replacing components such as motors, batteries, or displays can improve the product's durability and usability

The firm concentrates only few selective segments where its marketing operations are more profitable than other segments even in decline stage The company withdraws marketing operations from the market

Product mix consists of all the product and items that the particular seller offers for sale

This strategy focuses on broadening the product range by launching entirely new offerings that the company has not previously provided A product line comprises a collection of products that are interconnected based on various criteria, including function, structure, characteristics, or target customer demographics.

Product length refers to the total number of distinct items within a company's product line, serving as a crucial indicator of the diversity of its product mix It is calculated by counting the various products offered in the same category, highlighting the range and variety available to consumers.

Depth refers to the variety of different variables available within a single product category, while consistency involves strategies implemented by a company or brand to uphold quality and standards across its entire product line These consistency strategies highlight the relevance among products based on factors such as production technology, distribution systems, and business areas.

Straight product extension: Straight product extension i.e the business takes the company's current product and sells it in other countries without changing the product

Product adaptation: Product adaptation means that the business has to modify the company's existing product so that it is more suitable for other local needs and conditions

Product invention: Product invention means that when the target market is identified, businesses will create a completely new product to suit their target market.

PRICING FOR INTERNATIONAL MARKET

International pricing involves determining the price of a company's products or services in the global market When entering international markets, businesses must consider various factors that influence pricing, including production costs, shipping expenses, import taxes, exchange rates, and competitive pressures.

Setting prices for products or services in the international market is crucial for companies, requiring strategic decisions that encompass pricing calculations, tailored pricing strategies for each market, and effective cost distribution Companies must consider various factors, including product strategy, advertising strategy, and distribution strategy, to optimize their pricing approach and enhance competitiveness in diverse markets.

A pricing policy encompasses a business's comprehensive strategy for determining the prices of its products or services This includes establishing pricing objectives, strategies, and tactics aimed at setting and modifying prices to meet specific goals Regular reviews and adjustments of the pricing policy are essential to adapt to evolving market conditions, shifting customer preferences, and competitive dynamics.

Pricing objectives are strategic goals that businesses establish to optimize the pricing of their products or services These targets ensure that prices remain competitive while also being profitable for the company It's important to note that pricing objectives can differ significantly between businesses and even among specific products.

Figure 4.1: Pricing Objectives ( Source: International Marketing, nd)

Pricing Objectives include: o Market penetration goals o Competitive goals o Branding goals o Existence and development

Companies that incorporate a pricing strategy into their overall strategy mix must identify the most suitable approach for their specific context This involves considering market segmentation across different countries or markets, analyzing competitive pricing within the industry, and understanding pricing factors influenced by cultural differences in price perception.

Cost-plus pricing is a strategy where a company determines the total production costs of a product or service and then adds a profit margin to establish the final selling price This approach encompasses both variable and fixed costs related to production, ensuring that all expenses are covered while achieving desired profitability.

Variable-cost pricing is a pricing strategy that determines the selling price of a product or service based on its variable costs, which are the expenses incurred for producing each unit This approach ensures that the selling price covers these variable costs while also incorporating a desired profit margin As variable costs rise, the selling price must also increase to maintain profitability and cover production expenses.

A market penetration pricing strategy involves reducing product prices or offering promotions to attract new customers and outperform competitors, particularly for hard-to-differentiate items like fast-moving consumer goods (FMCG) This approach aims to encourage customers to try new products, increase market share, and foster trust and loyalty among consumers.

Skimming pricing is a strategy aimed at capturing a price-sensitive market segment willing to pay a premium for perceived value This approach is particularly effective when supply is limited, allowing companies to maximize revenue while meeting demand When a business is the exclusive seller of a unique or innovative product, skimming can help maximize profits until competitors enter the market and drive prices down.

Competitive pricing strategy revolves around analyzing industry competitors and their current rates for products and services, often disregarding user demand and pricing components By using competitors' prices as a benchmark, businesses can adjust their own prices to be lower, equal to, or slightly higher than those of their rivals This approach is particularly effective in saturated markets, where price differences can significantly influence customer purchasing decisions Its straightforward implementation makes competitive pricing accessible to businesses of all sizes, highlighting its crucial role in ensuring a company's survival in a competitive landscape.

A value-based price action strategy focuses on determining an item's true worth and setting a fair price that appeals to consumers This approach can effectively adjust commodity prices, especially when certain products are underperforming in sales, indicating they may be overpriced By reducing the prices of these items, businesses can enhance customer interest and drive sales This strategy helps maintain a balance between pricing and profitability, ensuring prices are neither too high for customers nor too low for the company's financial health, making it ideal for those seeking to minimize pricing risks.

To enhance customer options, many businesses create multiple versions of a single product or service, categorized from lowest to highest value This collection of variations is known as the product line, with each version reflecting a corresponding increase in price based on its added value.

4.4.2.6 Product bundle pricing/combo pricing:

A combo strategy can help businesses sell more products at once by combining products that are similar or can be used together at a cheaper price than when purchased separately

This strategy is expressed in many different forms, based on collecting and studying customers' emotions instead of normal consumer reactions

Businesses can enhance revenue and improve customer convenience by offering by-products alongside their main products These bundled offerings can be categorized into two types: compulsory products and optional products Compulsory products are essential by-products that must be used in conjunction with the main product to ensure effectiveness.

For the same product, businesses will apply different prices for each customer segment

Price escalation refers to the rise in costs of materials or products as they transition from production to completion or during transportation to consumers This increase can be attributed to factors such as transportation expenses, manufacturing and handling fees, taxes, storage costs, fluctuating material prices, and an imbalance between supply and demand In response to these rising costs, businesses must decide whether to raise selling prices to maintain profitability or seek methods to reduce production and transportation expenses.

The term refers to the increase in final prices due to various factors such as shipping costs, insurance, packing, tariffs, extended distribution channels, higher margins for intermediaries, special taxes, administrative expenses, and fluctuations in exchange rates Most of these expenses stem from the process of transporting goods internationally, often resulting in a final price that is significantly higher than that in the domestic market.

4.5.1.2 Taxes, Tariffs, and Administrative Costs:

Tariff: Fee charged when goods are brought into a country from another country

INTEGRATED MARKETING

Integrated Marketing Communication (IMC) involves the coordination of marketing activities to deliver clear, consistent, and persuasive messages to target customers regarding a business or its products An effective IMC strategy utilizes six key tools: advertising, direct marketing, sales promotion, public relations, sponsorship, and personal selling.

5.2 Sales promotion in nternational I Markets:

Sales promotions are strategic marketing initiatives designed to boost consumer purchases and enhance collaboration with retailers These short-term tactics aim to achieve specific goals, such as encouraging product trials, driving immediate sales, familiarizing consumers with a brand or store, securing prominent retail displays, motivating retailers to stock products, and complementing advertising and personal selling efforts Common forms of sales promotions include cents-off offers, in-store demonstrations, samples, coupons, and gifts.

Tie-Ins – Contests – Sweepstakes - Sponsorship of Special Events - Point-Of-Purchase Displays

Public relations (PR) plays a crucial role in fostering strong relationships with the media to effectively communicate a company's messages to its key audiences, including customers, the general public, and government regulators This involves not only promoting positive press coverage but also skillfully managing negative rumors and unfavorable stories to protect the company's reputation.

Studies indicate that advertisements generating significant facial expressions are more memorable after five days, with this strong recall applicable to both positive and negative emotional responses These emotions play a crucial role in shaping consumer behavior, impacting factors such as sharing tendencies, brand loyalty, and purchasing decisions.

Advertising serves to convey the qualities of products and services by aligning them with consumer needs, desires, and aspirations For an advertisement to be effective, it must resonate with emotional appeals, symbols, and persuasive techniques that reflect cultural norms.

International advertising follows a consistent framework that includes seven essential steps: conducting thorough marketing research, defining clear communication goals, crafting impactful messages tailored to selected market segments, choosing the most effective media channels, establishing a budget aligned with the campaign objectives, executing the advertising campaign, and finally, evaluating its success against the initial goals.

Strategies: Content advertising, Informative advertising, Comparative advertising, Emotional advertising, Push advertising, Pull advertising

To enhance brand recognition and awareness, it is essential to acquire new customers and generate leads and sales, ultimately increasing revenue Building brand engagement and loyalty is crucial for creating differentiation in the market, while also developing and maintaining a positive brand image Additionally, adapting to cultural differences can further strengthen brand positioning and appeal to a diverse audience.

Product attribute and benefit segmentation involves understanding that a market offering represents a collection of satisfactions for the buyer This offering encompasses the main function of the product or service, as well as additional benefits shaped by cultural values and customs While various cultures may pursue similar values or benefits from a product's primary function, their perceptions and expectations can differ significantly.

The rise of pan-European communications media is prompting companies to adopt more standardized promotional strategies To minimize confusion caused by multiple brand names and advertising messages, and to enhance efficiency, businesses are seeking consistency in their brand names, advertising, and promotional efforts across Europe.

There are many problems in communicating a firm’s product offerings to its various target markets around the world Some of these include:

5.6.1 Global advertising and the communications process:

In the international communications process, each of the seven identifiable steps ultimately can affect the accuracy of the message

Figure 5 The International Communications Process 1:

Advertising campaigns globally must adhere to legal regulations, with comparative advertising facing strict oversight in many regions Numerous countries impose significant restrictions on pharmaceutical advertising, ensuring consumer protection Additionally, television advertising is tightly regulated in various nations to maintain ethical standards and prevent misleading information.

Advertising from culture does not often translate well in another culture due to differences in languages and dialects

Ad campaigns and product brand names being communicated may mean different things to different cultures

In some underdeveloped countries, there is a shortage of advertising media such as radio stations, print media (newspapers, magazines), and television stations, cable TV, and satellite TV

In some markets costs are prohibitive to advertise on conventional advertising media; other countries may have low quality paper to print advertising

Media planning is the strategic process of selecting optimal channels and timing to effectively reach a target audience with the right message By carefully choosing media outlets and scheduling advertisements, media planning seeks to enhance the reach and impact of marketing campaigns while ensuring cost efficiency.

Figure 5.2: Media Planning Process 5.7.1 Tactical Consideration:

In international advertising, advertisers must evaluate the availability, cost, coverage, and suitability of various media options The ever-changing competitive landscape among these media poses challenges, making decision-making a complex and dynamic process.

Availability: Some countries have too few advertising media and others have too many In some countries, certain advertising media are prohibited by government decree

Media prices can often be negotiated in various countries, allowing for potential discounts on agency space that are shared with clients to reduce overall advertising costs Consequently, the expense of reaching a target audience through advertising may significantly depend on the negotiating skills of the advertising agent.

Coverage poses a significant challenge in advertising, particularly due to the difficulty of accessing specific population sectors and the lack of comprehensive coverage information In many global markets, a diverse range of media is necessary to effectively reach the majority of consumers However, in some countries, numerous distinct media channels have fragmented markets into economically unviable segments Moreover, in less-developed countries, a substantial portion of the population remains largely unreachable through conventional mass media advertising.

The scarcity of market data significantly hampers the ability to effectively target specific markets, particularly in international contexts Advertisers often struggle to obtain essential information regarding income, age, and geographic distribution, which remains elusive in many regions, especially outside the largest markets This lack of accessible media research also diminishes the appeal of global television, such as satellite broadcasts, limiting advertisers' opportunities for strategic outreach.

REALITY

MARKET ANALYSIS

1.1 Fast food industry market in the world:

Fast food refers to meals that are quickly prepared and served, typically within minutes, often involving deep-frying and pre-processing, which allows for easy reheating Available for dine-in or takeout, fast food varies by country and includes items like hamburgers, fried chicken, pizza, salads, french fries, mashed potatoes, and sandwiches According to Precedence Research, the global fast food market was valued at USD 702.8 billion in 2021 and is projected to grow to USD 964.6 billion by 2030, with a Compound Annual Growth Rate (CAGR) of 4.0% from 2022 to 2030.

The fast food market is experiencing significant growth, driven by the rising demand for convenient snacks and ready-to-eat meals The hectic lifestyles of young individuals and the increasing workforce globally have greatly influenced fast food consumption patterns Additionally, the swift pace of industrialization and urbanization further fuels the expansion of the global fast food industry.

Figure 1.1: Fast food market size from 2021 to 2030 (Source: Precedence Research)

1.2 Market of fast food industry in Vietnam:

According to research by Vietnam Report, the F&B industry in Vietnam is projected to grow at an impressive annual rate of 10%, highlighting significant potential in the fast food market Additionally, a survey by InterNations ranked Vietnam 10th among 59 countries as the best place for expats to live in 2021, creating new opportunities and further driving the growth of the F&B sector.

In recent years, Vietnamese consumers have increasingly embraced Western cuisine, with approximately 35% of their food consumption being from foreign sources This trend is fueled by the presence of international chains and Western brands that have successfully established themselves in Vietnam According to the Ministry of Investment and Industry (MOIT), over 183 foreign brands have been franchised in the country, primarily from the United States, Australia, South Korea, and the European Union This highlights Vietnam's potential as a lucrative market for franchising in the food and beverage sector, especially for fast food brands.

KFC

2.1.1 History of establishment and development of KFC:

KFC, or Kentucky Fried Chicken, is a globally renowned American fast food chain founded by Harland Sanders, who was honored as "Kentucky Colonel" in 1935 for his culinary contributions In 1955, Sanders established the franchise model, and in 1986, KFC was acquired by PepsiCo Inc Today, under Yum! Brands, KFC operates nearly 35,000 locations in 110 countries, with a presence in 118 countries and territories and approximately 19,000 stores as of December 2013.

2.1.2 History of establishment and development of KFC in Vietnam:

In 1997, KFC made its debut in Vietnam, introduced by Tony Chew through a joint venture The first KFC outlet was established in the Saigon Super Bowl building in Ho Chi Minh City, close to Tan Son Nhat Airport At that time, the concept of fast food was entirely new to Vietnamese consumers.

Figure 2 1: KFC revenue in the early years (Source: Brandsvietnam, 2015)

It took 7 years for KFC to break even and become profitable At the end of 2008, the economic cycle went down, accompanied by a wave of franchise expansion

Figure 2 KFC's competitor 2: (Source: Brandsvietnam, 2015)

In 2014, the revenue of each KFC store was 30-40,000 USD As of early 2023, KFC has expanded its presence to more than 172 restaurants in 39 provinces and cities of Vietnam

KFC aims to ensure customer satisfaction by offering delicious, nutritious, and affordable meals that align with the preferences of Vietnamese consumers Their mission focuses on providing fast, convenient, and environmentally friendly dining options, fostering loyalty among customers who return for their diverse menu.

KFC operates as a franchise corporation, allowing each regional franchise to develop distinct missions and visions that reflect their local social cultures Despite these unique adaptations, the overarching mission and vision of KFC remain consistent across the entire system, ensuring a unified direction while embracing regional diversity.

KFC aims to be the premier integrated food services group in the Asia Pacific, emphasizing consistent quality and exceptional customer service Its mission focuses on pioneering fast food excellence by delivering high-quality products globally while ensuring outstanding customer care.

KFC ’s CHALLENGE OF INTERNATIONAL MARKETING AND THE DYNAMIC

3.1 Analysis of the macro environment of KFC in Vietnam market (PESTLE):

KFC's successful internal management has facilitated its recent entry into the international market; consequently, the team will focus on a detailed analysis of KFC's macro environment in Vietnam rather than its micro environment.

3.1.1 Political environment: o Vietnamese politics today:

Vietnam, a socialist nation, benefits from political stability, which is crucial for its ongoing economic development Despite the challenges posed by COVID-19, the country remains an appealing investment destination, bolstered by favorable policies and a stable political environment The PCI 2020 survey, which included responses from over 10,700 private enterprises and 1,600 foreign-invested enterprises (FDI), highlights that FDI firms continue to view Vietnam as an attractive location for investment, thanks to its consistent political advantages Additionally, the strengthening diplomatic relations between Vietnam and the United States further enhance its investment appeal.

On the afternoon of May 13, 2022, in Washington DC, the United States took place the ASEAN-

During the recent US Special Summit, both parties highlighted the significant progress in Vietnam-US relations since diplomatic ties were established in 1995 A notable example of this growth is KFC's successful presence in the Vietnamese market, which reported impressive revenue figures in 2022.

The Vietnamese fast-food market is valued at 9.5 trillion VND, with KFC Vietnam expanding its presence to over 36 major provinces and cities nationwide The chain has grown to include more than 153 restaurants, providing employment for over 3,000 individuals and contributing significantly to job creation in the region.

Figure 3 Graph of investment attraction factors as 1: assessed by FDI enterprises (Source: Web

When KFC entered the Vietnamese market in 2021, it benefited from a stable political environment, ensuring investment safety and minimizing risks This favorable situation has allowed the company to focus on growth and success in Vietnam.

By the end of 2022, Vietnam's economy demonstrated a robust recovery and growth following the COVID-19 pandemic, despite challenges in the global economy However, forecasts for 2023 indicate a potential recession and high inflation worldwide, suggesting a tougher international landscape that could significantly impact Vietnam's economic growth Domestically, various factors, including rising input material prices and high production costs, are contributing to inflationary pressures and supply chain risks, which will notably affect the food and beverage (F&B) industry.

In 2022, Vietnam's gross domestic product (GDP) surpassed 400 billion USD for the first time, achieving a remarkable growth rate of 8.02% compared to the previous year This significant increase marks the highest GDP growth in the past 12 years, highlighting a record level for the period from 2011 to 2022.

Figure 3 Vietnam's GDP growth over the past 12 years (Source: Youth, 2023) 2: o Per capita income:

The Covid-19 pandemic has significantly impacted the quality of life for workers, with the GDP per capita in 2022 reaching approximately 95.6 million VND, or over 4,100 USD, marking an increase of nearly 400 USD from 2021 Projections indicate that by 2050, per capita income could rise to between 27,000 and 32,000 USD.

Figure 3 GDP per capita in the past 10 years (Source: Anh Minh 3: , 2023) o Inflation and Consumer Price Index (CPI):

The economy is on a gradual path to recovery, yet there is a noticeable rise in the prices of certain raw materials and production fuels, leading to increased costs for essential goods In 2022, core inflation is projected to rise by 2.59% compared to 2021, which is lower than the average Consumer Price Index (CPI) increase of 3.15% While the basic price level remains under control this year, significant inflationary pressures are anticipated for 2023 As the COVID-19 pandemic is brought under control, demand for food, beverages, tourism, and entertainment services is expected to surge, further influencing the overall CPI Notably, food and catering services have seen a 5.21% increase, with out-of-home dining services rising by 6.7% (Source: General Statistics Office, 2022).

Figure 3 CPI growth/decrease rate in Dec 4: ember 2022 compared to the same period last year

The rising costs of input materials and transportation have profoundly affected the operations of many food and beverage businesses, including KFC Following the pandemic, consumer purchasing power has declined, with a growing emphasis on healthier food options Consequently, KFC experienced a notable drop in sales, impacting its overall business performance However, in the current market landscape, the appeal of fast food—characterized by convenience, taste, and an inviting atmosphere—continues to attract consumers, leading many to opt for dining out rather than cooking at home.

The COVID-19 pandemic has highlighted the resilience of Vietnam's fast food market, particularly with the surge in online applications In response to the rising Consumer Price Index, KFC should adjust its pricing strategy The fluctuations in KFC's menu prices before and after the pandemic reflect the challenges posed by high inflation and increased costs of raw materials and transportation.

So KFC was forced to increase their menu prices but not much because KFC was afraid of losing loyal customers as well as attracting new customers o Interest rate:

Interest rates significantly influence KFC's production and business operations in Vietnam In recent years, these rates have remained stable, with the State Bank of Vietnam implementing a supportive interest rate policy This action plan includes a 2% annual interest rate subsidy for commercial loans to businesses and household enterprises in 2022 and 2023, facilitated through commercial banks.

The fast food industry in Vietnam requires relatively low investment while offering significant profit potential As interest rates remain low, investors are increasingly drawn to this sector, which is rapidly gaining popularity in the country.

On January 11, 2007, Vietnam became the 150th member of the World Trade Organization (WTO), significantly boosting foreign investor confidence in the Vietnamese market By 2020, Vietnam established 30 strategic partnerships and maintained diplomatic relations with 189 out of 193 countries, alongside economic ties with 160 nations and 70 territories From 2016 onward, Vietnam consistently achieved a trade surplus, which continued to grow, culminating in a nearly $4 billion surplus in 2021 despite the challenges posed by the COVID-19 pandemic According to the WTO's 2020 World Trade Statistical Review Report, Vietnam experienced remarkable growth in global commodity trade, climbing from 39th place in 2009 to 23rd in 2019, and entering the top 20 by 2021.

As of 2023, Vietnam's population is estimated to be approximately 99.5 million, representing 1.24% of the global population This positions Vietnam as the 15th most populous country in the world, with a population density of 319 individuals per square kilometer.

Figure 3 Population chart of Vietnam over the years (Source: Population of Vietnam, 2023) 6:

The average age in Vietnam is 33.3 years old Population data by age (estimated): 23,942,527 adolescents under 15 years of age; 65,823,656 people from 15 to 64 years old; 5,262,699 people over 64 years old

KFC FRANCHISING

4.1 KFC franchise in the world:

KFC's primary strategy for global expansion is franchising, which has established it as a leading company in the franchise sector The brand has shifted its focus from self-operation to franchising, trading self-operated sales for a steady stream of franchise income, despite the lower revenue per store This approach not only minimizes overall costs but also transfers operational risks to franchisees As of 2013, 90% of KFC locations were franchises, and by 2022, this figure rose to 99% This successful franchise model has enabled KFC to become the world's top fried chicken brand, boasting over 25,000 outlets across 145 countries.

Figure 4 1: Rate of franchised stores up to 99% in 2022

KFC supports its franchisees by providing essential resources such as instructions, menus, advertising, and equipment, while allowing them autonomy in operations, pricing, staffing, and hours The success of this franchising model hinges on a foundation of mutual trust and support, as poor relationships can lead to failure This approach has significantly reduced costs and boosted operating profit margins, which nearly doubled from 23% in 2013 to 42% in 2021 However, with 99% of KFC stores being franchises, the brand's customer experience, food quality, and reputation are heavily reliant on these franchise units KFC's annual revenue stands at $6.6 billion, reflecting a revenue growth decline of -39.24% from 2009 to 2021, with a peak quarterly revenue of $1.9 billion in 2021, marking a 16.49% increase from the previous year.

KFC, the pioneer of international food and beverage franchises, launched the fast food restaurant concept in Vietnam in 1997 with its inaugural store at the Saigon Super Bowl building in Ho Chi Minh City Over the past 26 years, KFC Vietnam has expanded to nearly 172 locations across 39 provinces and cities, employing around 4,000 staff nationwide.

KFC ranks as the second-largest fast food restaurant chain in Vietnam, following Lotteria, a Korean-origin brand It faces competition from numerous fast food giants, including McDonald's and Burger King Over the past three years, the food and beverage franchise market has experienced a remarkable 200% growth in the number of stores KFC Vietnam is confident in its brand value and market position, with leadership optimistic about the continued growth of the Vietnamese economy, consumer purchasing power, and the expanding middle class All KFC outlets in Vietnam are operated by KFC Vietnam Joint Venture Company Limited.

No 292 Ba Trieu, Ward Le Dai Hanh, Hai Ba Trung District, Hanoi

KFC entered the Vietnamese market in 1997, taking seven years to achieve its first profit The company's financial performance fluctuated in the subsequent years, but by 2019, KFC Vietnam Joint Venture Co., Ltd reported a net revenue of VND 1,498 billion, reflecting a modest increase of over 1% from 2018 Despite the challenges, effective cost management allowed the business to post a profit of VND 78 billion that year Notably, KFC Vietnam reached its peak revenue of 120 million USD in 2021, according to Zippia.

4.2.2 Cost of opening a basic KFC store in Vietnam:

COSTS Franchisie About 25000 USD As a rule, all payments must be in cash

Store opening With a basic investment of 1-2 million USD

Premises If you do not have a store, you must rent a store as a business location

Therefore, the cost of premises will depend on the selection of premises

After joining the KFC franchise system For a business that takes place continuously, throughout, this cost will mainly be calculated as a percentage of revenue and falls in the range of 4-8%.

Advertising Pay an additional advertising fee for the parent company, so that the system works in sync with advertising and branding About 5000 USD

Necessary equipment Depending on the size of the store About 250,000 USD.

Other expenses and funds (3 months) Ranging from 30000-40000 USD

KFC branches have to pay royalties of about 4%, equivalent to USD

600/month, advertising fees in the region 3%, national advertising about 2% of total income

When opening a KFC fried chicken store, it's essential to be aware of the various taxes you will need to pay, including Value Added Tax, Personal Income Tax, and Special Consumption Tax It's important to note that the tax obligations may vary depending on the turnover of your business.

KFC store is less than 100 million/year, you will not have to pay the above taxes)

Table 4 Cost of opening a basic KFC store in Vietnam 1:

The franchisor must ensure that the franchisor is properly and adequately provided and supported

On the contrary, the franchisor must ensure the correct implementation of the business model, method, and professional process provided by the franchisor

4.2.4 How to make a KFC franchise application:

The application dossier must include two notarized or authenticated original copies of the transfer contract If the original is unavailable, a certificate of trademark protection registration from the National Office of Intellectual Property and a copy of KFC's investment license should be provided Once all necessary documents are gathered, submit the application to the Department of Industry and Trade.

Results are delivered within five working days from the submission date of complete and valid documents The subject will receive a Notice of registration results at the Department and will retrieve the results of administrative procedures at the Office of the Department of Industry and Trade.

4.2.5 Conditions to operate a KFC store: o Apply for a license, certificate of food hygiene and safety at the Department of Food Hygiene and Safety

The dossier required for food hygiene and safety certification includes an application form, a business registration certificate, a detailed description of the store's facilities and equipment, a food hygiene and safety certificate, and proof of training in food safety for the producer or owner Additionally, a health certificate for the individual directly involved in food and beverage preparation is also necessary.

Upon submitting your application to the Food Safety Department, an appraisal team will visit your store for an evaluation If your establishment complies with food hygiene and safety standards, you will receive a food hygiene and safety certificate within 15 days, valid for three years, as per Article 37 of the Law on Food Safety 2010 Additionally, to open a fried chicken restaurant, you must submit a business registration dossier to the district People's Committee where your restaurant will be located.

4.3 Advantages and disadvantages of KFC franchise in Vietnam:

Franchising is a low-risk and low-cost method of entering the market The franchise will help

KFC expand its business quickly in Vietnam

Since KFC can reach locations that are not accessible to franchisees, businesses can leverage the knowledge of franchisees

Promote brand promotion Business expansion and ubiquitous presence will bring product

Loss of control over the business

The franchisee is inefficient or has any bad actions, it will affect the reputation of KFC

For example: In Vietnam at the beginning of

January, Mr Trinh Quoc Cong (Vien village,

Co Nhue commune, Tu Liem, Hanoi) took his images into customers' minds more easily

Besides, because advertising costs will be spread to many stores, the advertising cost for a business unit is very small It helped KFC build a big advertising bank

Maximize income Franchisees must purchase

KFC products and materials KFC can make additional profits with small investments in capital, employees, production, distribution

Leveraging the franchisee's geographical advantages, expertise, and human resources can significantly enhance efficiency while reducing time and costs For instance, a family dining at a KFC on Hoang Quoc Viet street ordered fried chicken but encountered an unpleasant smell when cutting into their meal This incident highlights ongoing concerns regarding food quality at KFC, which has faced multiple scandals that leave customers questioning the safety and standards of their offerings.

KFC has faced numerous negative reviews on delivery platforms like Shopee Food and Gojek, with customers specifically voicing concerns about the quality of its packaging This lack of oversight and regular inspections of franchisees has a detrimental impact on KFC's reputation and brand image.

The Vietnamese market has become an enticing opportunity for fast food giants, putting KFC under significant competitive pressure from rivals like Lotteria and McDonald's, as well as local street food vendors To sustain its market share and effectively compete in this challenging landscape, KFC must prioritize understanding and managing its franchisees.

KFC, a globally recognized fast-food chain, has faced multiple scandals that have raised concerns about food quality and led to significant economic and reputational damage Notable incidents include a 2013 complaint from a student who discovered a gray object resembling a chicken brain in his fried chicken, which staff claimed was chicken liver Additionally, a 2014 case in China involved a customer finding maggots in her takeaway chicken wings, sparking widespread discontent among consumers These events have negatively impacted KFC's image, including in Vietnam, where consumers may develop unfavorable perceptions regardless of the accuracy of these claims To mitigate this, KFC must effectively manage media relations to improve public perception.

Figure 4 2: The image of a strange object in KFC's chicken dish (Source: Hai Linh, 2019) Table 4 Advantages and disadvantages 2: of KFC franchise in Vietnam

KFC's successful strategies in entering the Vietnamese market have significantly enhanced its brand image and established a strong presence in the fast food industry The company's approach has not only contributed to the growth of fast food in Vietnam but also showcased the effectiveness of modern business models, particularly the "French" style.

PRODUCTS AND SERVICES OF KFC IN VIETNAM

KFC products can be categorized as convenience products in Philip Kotler's classification system These items are designed for immediate consumption and are purchased frequently by customers with minimal thought, emphasizing the need for convenience in the buying process, typically available in retail stores.

5.2.3.1 “Market-perceived” quality of customers for KFC:

Before KFC's entry into Vietnam, the concept of "Fast Food" was largely unfamiliar to consumers, who traditionally favored nutritious meals over simple dishes However, in recent years, KFC has successfully adapted to the Vietnamese market by modifying its flavors to align with local tastes while maintaining its brand identity A survey conducted by Q&Me in 2020 revealed that 84% of respondents aged 18 to 55 preferred KFC, followed by LOTTERIA at 62% and McDonald's at 60%, indicating a significant shift in fast food consumption behaviors in Vietnam.

Figure 5.1: Recognition of fast food chains (Q&Me, 2020)

A recent survey revealed that KFC enjoys high consumer appreciation despite not being the largest fast-food chain Key factors contributing to this positive perception include the deliciousness of its food (66%), convenient locations (63%), suitability for families (60%), appeal to the youth (60%), and a diverse menu (56%) (Q&Me, 2020).

Figure 5.2: Images of fast food chains (Q&Me, 2020)

KFC stands out as the most popular fast food chain in Vietnam, with a 2020 Q&ME survey in Ho Chi Minh City revealing that 45% of respondents visit its restaurants regularly The chain has also successfully attracted 52% of customers to order online Patrons appreciate the professional and enthusiastic service provided by KFC staff, who are notably respectful towards customers Additionally, KFC's menu caters to Vietnamese tastes and culture, offering a variety of options such as combo meals, rice dishes, tea, and desserts.

Below are KFC's effective quality evaluation criteria that may include the following:

KFC prioritizes food quality by using the highest quality ingredients and ensuring freshness and safety for its customers The World Health Organization (WHO) certifies that KFC's cooked chicken is safe and hygienic All chicken products are processed at high temperatures, ranging from 2 minutes and 30 seconds to 14 minutes and 30 seconds, guaranteeing optimal cooking KFC chefs receive extensive training to maintain the unique taste and nutritional quality of their dishes, adhering to corporate standards The global CHAMPS program, which emphasizes Cleaning, Hospitality, Accuracy, Maintenance, Product Quality, and Speed, is strictly followed by all KFC employees to uphold these standards.

KFC is dedicated to providing exceptional customer service by ensuring that their staff is friendly, professional, and responsive to inquiries The fast service at their locations is complemented by a reliable delivery option, allowing customers to enjoy their meals at home without the need to visit the store.

KFC offers a diverse range of dishes designed to meet the preferences of various customers, including options for both children and adults Equally important is the consistency of product quality, ensuring that every item maintains uniformity in appearance and taste across all locations.

KFC should ensure that their product pricing reflects the quality and service they offer Additionally, by introducing affordable combo meals, they cater to a diverse range of customers, acknowledging that consumers prioritize both product quality and cost.

KFC is committed to environmental sustainability by aiming to reduce waste by 1,400 tons per year through the use of eco-friendly packaging According to Mr Jennelle Tilling, KFC's Vice President of Brand Marketing, the redesign of product packaging is crucial for attracting and retaining customer trust and loyalty, while also maintaining brand identity and product recognition.

Maintaining customer loyalty is crucial for KFC, as loyal customers provide significant benefits and lower retention costs compared to acquiring new ones Recognizing that regular customers contribute the most to their profits, KFC is dedicated to increasing its loyal customer base The company aims to ensure that every customer enjoys an exceptional dining experience at KFC, ultimately maximizing profitability.

At KFC, customers are welcomed with genuine smiles and warmth, reflecting the brand's commitment to heartfelt service The Western-style service ensures that all customers, regardless of their budget, receive equal treatment and attention KFC's staff undergoes rigorous training to meet the high standards set by the company, guaranteeing a consistent and friendly experience for everyone who visits.

KFC offers convenient delivery options for customers who prefer to enjoy their meals at home Orders can be placed via the hotline 19006886 for delivery within 30 minutes (for a radius of 5km) or through popular delivery apps like Beamin and Gojek Customers have a 3-minute window to adjust their orders after confirmation, with a minimum order value of 80,000 VND required for changes In the event of an incorrect order due to KFC's error, an immediate exchange will be provided If customers receive damaged or spoiled food, they should contact KFC Vietnam at 19006886, and KFC will send staff to inspect the issue and facilitate an exchange within 30 minutes If the customer prefers not to exchange, a refund will be issued for the value of the affected items.

KFC offers a unique birthday party service designed for families with children seeking a fun and convenient celebration With two available party packages—the full package and individual items—parents can tailor the experience to their preferences, ensuring a memorable birthday for their kids and family Additionally, KFC provides a VIP card that rewards loyal customers with a 10% discount on purchases and exclusive offers, such as a 30% discount and a complimentary serving when buying 13 combos on VIP Day, held every last Thursday of the month This service not only enhances customer satisfaction but also fosters a stronger bond between families and KFC, making it an economical choice for birthday celebrations.

KFC actively engages with its customers by effectively addressing their complaints and gathering feedback through regular surveys on facilities, services, and product quality Customers can conveniently share their opinions about their chicken purchases by visiting the website www.talk2kfcvietnam.com.

5.2.3 Style and design of KFC stores in Vietnam:

The KFC fried chicken restaurant chain is rapidly gaining market share in the Vietnamese market

Explore the eating habits of Vietnamese people, where taste and professional service play a crucial role KFC is dedicated to enhancing its facilities with a distinctive design, investing in everything from furniture to billboards to create a cohesive and modern atmosphere The unique design of KFC fried chicken restaurants showcases the brand's commitment to professionalism and excellence across all aspects of its operations.

PRICE STRATEGIES KFC USES IN VIETNAM MARKET

In 1997, KFC encountered significant challenges entering the Vietnamese market, where street food was highly diverse and consumers were unfamiliar with fast food Initially perceived as a luxury brand for the affluent, KFC recognized that overseas pricing strategies were unsuitable for Vietnam To gain a foothold, the company adopted a cautious pricing strategy, offering low prices to capture market share despite incurring losses for seven consecutive years As a result, KFC's expansion was slow, with only 17 stores established after nearly a decade.

KFC's strategy of initially offering low prices effectively built brand awareness and familiarized consumers with fast food in Vietnam As competition grew with the entry of rivals like McDonald's and Lotteria, KFC successfully cultivated a loyal customer base The company then implemented a modest price increase to enhance its competitive edge, aligning with the perception that "higher price means better quality," thereby reinforcing its brand image in the market.

KFC's successful pricing strategy has led to consistent profitability and enhanced customer loyalty, particularly following a challenging period of losses from 1997 to 2006 This effective approach not only contributed to the brand's financial recovery but also solidified its image in the minds of consumers.

KFC frequently introduces promotions during special occasions to engage consumers and offer discounts on its main menu items This strategy has been a consistent part of KFC's marketing approach since its inception in the market.

6.1.3 Product bundle pricing/Combo pricing:

KFC offers a variety of fried chicken combos at competitive prices, making it more appealing for customers to purchase multiple items These flexible combo options cater to the diverse preferences and budgets of Vietnamese consumers, encouraging them to enjoy a more satisfying dining experience.

The average cost of a fried chicken or rice dish in Vietnam typically falls between VND 69,000 and 99,000 KFC, a popular restaurant chain, frequently prices its items with endings that feature the number 9, particularly for promotional combos This pricing strategy is a clever psychological tactic designed to evoke a perception of lower prices, appealing to the Vietnamese consumer's preference for affordability and value.

Figure 6 Promotions of KFC (Source: KFC Vietnam, nd) 1:

6.2 Success in pricing strategy of KFC:

KFC's success in the Vietnamese market can be largely attributed to its effective pricing strategy, which initially involved a period of loss to help consumers acclimate to the fast-food concept This approach has successfully ingrained the brand in the minds of Vietnamese customers Currently, KFC continues to refine its pricing strategy, utilizing thorough analysis and quantitative research to optimize various factors that enhance its market position.

KFC conducts competitor analysis in the Vietnamese market by evaluating the pricing strategies of rivals like McDonald's This analysis helps KFC understand how competitors price their products and whether they are positioned as more expensive or cheaper Based on these insights, KFC adjusts its pricing to maintain a competitive edge.

Consumer research: they regularly conduct market research to understand the price sensitivity and willingness to pay of Vietnamese consumers for KFC products

Cost control: KFC reviews and optimizes its operating costs to ensure that they do not overcharge their customers such as sourcing ingredients, managing inventory, and reducing waste.

KFC’s INTEGRATED MARKETING COMMUNICATION PLAN IN VIETNAM

Engage with customers by embracing the spiritual essence of the Lunar New Year, strengthening KFC's brand image as a supportive and community-focused partner This campaign highlights themes of sharing, luck, and familial bonds, effectively communicating these values through various Tet-themed activities and promotions Additionally, it showcases KFC's offerings with exclusive combo deals and special products available only during the Tet season, enhancing the overall customer experience.

“Trao lộc phúc, chúc bình an”

KFC Vietnam's “Trao lộc phúc, chúc bình an” campaign features a key visual of a KFC chicken dressed in a yellow long dress, holding a peach branch, symbolizing good luck and New Year wishes This imagery effectively conveys the brand's message of "bringing delicious taste to every home." The visual is prominently displayed across various communication platforms, including television ads, newspapers, social media, websites, and in-store decorations.

KFC Vietnam's communication campaign, "Trao lộc phúc, chúc bình an," celebrates the New Year by offering customers good wishes and special value lunch boxes that include lucky red envelopes Additionally, customers can savor KFC's traditional dishes at appealing prices, making it a festive and rewarding experience.

The KFC Vietnam campaign has significantly impacted customer perceptions, establishing itself as one of the brand's most successful communication initiatives This campaign not only boosted sales but also reinforced KFC's brand position in the minds of consumers.

KFC Vietnam's "Trao lộc phúc, chúc bình an" campaign aims to embody the spirit of sharing and foster optimism, bringing joy and luck to customers and the community during Tet Nguyen Dan This initiative not only seeks to strengthen KFC Vietnam's brand presence during the year's most significant festive season but also aspires to contribute to community development, helping to overcome life's challenges and difficulties.

KFC aims to enhance its market share in Vietnam by maintaining its leadership in the fast food sector, promoting both existing and new products through strategic advertising, and implementing sales promotion programs Additionally, the company plans to expand its distribution channels across all major cities, ultimately driving sales growth and solidifying its presence in the Vietnamese market.

To boost business sales, effective marketing is essential for for-profit companies like KFC By engaging in targeted marketing activities, KFC aims to inform customers about its offerings and enhance brand visibility This strategic approach not only attracts a larger customer base but also encourages increased product consumption, ultimately driving higher sales and promoting overall business growth.

KFC effectively raises product awareness through a variety of promotional channels, including advertising, public relations, and social media By utilizing platforms like Facebook and their website, KFC provides customers with up-to-date information on promotions, products, and events, enhancing brand visibility and accessibility Additionally, traditional methods such as newspapers, leaflets, and outdoor banners further amplify their reach KFC's commitment to customer engagement is evident as consumers can share feedback and comments on their Facebook page, fostering a sense of community Through these efforts, KFC aims to establish itself as a professional and customer-friendly brand, leaving a positive impression on its audience and reinforcing its reputation in the market.

7.5 IMC’s tools and Master plan of KFC Vietnam:

Key Message “Trao Lộc Phúc,

TVC1: TVC advertising about 14s with 280 actions, 40 comments and

TVC2: 60s “Ngon giòn tận cửa, Chill đón giao thừa” with more 6k reactions and 230k views

TVC3: “Chọn Combo Lộc Phúc, Biến Lời Chúc Thành Sự Thật” with more 15k views

TVC4: “Đem Gà Về Cho Mẹ” with more 34k views

Figure 7.1: TVC: “Đem Gà Về Cho Mẹ”

TVC5: “KFC Gửi lộc Phúc Chúc Fans Đón Năm Mới Bình An” with more 31k views

Figure 7.2: “KFC Gửi lộc Phúc Chúc Fans Đón Năm Mới Bình An”

Poster: Trao Lộc Phúc Chúc Bình An Hashtag: #KFCtraolocphuc

Image 1: “Trao Lộc Phúc Chúc Bình An”

Figure 7.3: “Trao Lộc Phúc Chúc Bình An”

TVC: “Ngon giòn tận cửa, cùng đón năm mới” with 72.000 view and

Figure 7.4: TVC: “Ngon giòn tận cửa, cùng đón năm mới” on Youtube

Instagram Post content on fanpage of KFC: “Trao lộc phúc, chúc bình an”

Image 2: “Đón Phúc Lộc Rước Bình An”

Image 3: “Măm No Bụng Rước Quà To”

Figure 7.5: “Măm No Bụng Rước Quà To” on Instagram

Image 4: “Thưởng Thức Bình An Vui Vẫy Lộc Phúc”

Elevator Ads: Posted in elevators of universities such as UEF, UEH,

HUTECH, And commercial areas such as Gigamall, Vincom

Bus ads: Paste on the bus, body position

Framedia: At universities, commercial centers LCD Ads: in elevators, commercial areas, cafes

Booking “Én” page to draw comics with more than 10k reactions Én Page: 628k like, 694k followers

Figure 7 KFC booking Én to draw 6:

Youtube Ads TVC on youtube by view and impression - Unskippable In-stream Ads

Collaboration Collaborate with Pepsico, they use the reputation of Pepsi to advertise and make a promotion for campaign IMC

Booking "Doanh nhân Online", "Cosmolife", etc writte content PR

Figure 7 KFC booking “Doanh nhân Online writte content PR 7: ”

Discount VIP card will have discount 10%

Loc Phuc Combo for only 86.000 VND (original price 125,000 VND) including 3 pieces of Chicken + 1 can of Pepsi/7 Up/Mirinda Orange

Binh An Combo for only 168.000 VND (original price 249,000 VND) includes 5 pieces of Chicken + 1 Spaghetti with Sausage Sauce Chicken Ball + 2 cans of Pepsi/7Up/Mirinda Orange

Take advantage of our special offer! When you place an order of 250,000 VND or more, including at least one Loc Phuc or Binh An Combo, you'll receive a complimentary gift set This exclusive gift set includes a KFC Gift Card worth 50,000 VND and a Pepsi An Loc Phuc Tet Box Don't miss out on this fantastic deal!

KFC Vietnam's integrated marketing communication (IMC) campaign resulted in a 10% increase in revenue and enhanced brand awareness among customers This successful initiative not only strengthened KFC's public image but also delivered significant benefits to both the brand and its customers.

PROPOSED SOLUTIONS, CONCLUSION

PROPOSED SOLUTIONS

1.1 The target audience of the product:

Our team conducted a survey titled "Choose KFC Fast Food Chain" via Google Form on March 13, 2023, gathering 307 responses from participants located in Ho Chi Minh City The survey included a diverse demographic, with males representing 53.7% and females accounting for 40.1% of the respondents.

Figure 1 Gender survey chart 1: o Age: Gen Z, Gen Y make up the majority of 18-30 years old

Figure 1 Ages survey chart 2: o Income: Most have jobs and stable incomes (Over 70%)

Through the form, it can be seen that with 307 survey participants, there are 305 people who know the brand and have visited this chain of stores

Consumer trends are shifting towards a growing demand for brands that prioritize not only taste, affordability, and service quality but also environmental friendliness and social responsibility These factors are becoming crucial considerations for consumers when selecting a store.

Figure 1.5: Customer trends survey chart

1.2 The customer insight of the product:

A survey conducted through Google Forms, which gathered 307 responses, reveals that KFC's customer base spans multiple generations characterized by a modern and adaptable lifestyle, with a strong inclination towards fast food and a willingness to spend Notably, these consumers are increasingly progressive and environmentally conscious, embracing a green lifestyle However, their fast-paced lives often limit their participation in community activities Consequently, when faced with numerous fast food options, they tend to favor brands that demonstrate social responsibility and environmental friendliness.

KFC Vietnam is launching an integrated communication campaign in honor of World Environment Day on June 5, 2023, aimed at promoting a green and clean Earth while reducing environmental pollution The campaign, titled “Ngày môi trường, đi đường nhớ KFC,” will run from May 15 to June 15, 2023 With a goal to increase revenue by 5% to VND 80 billion, the campaign also seeks to boost brand recognition by 7%, addressing the challenges faced due to the COVID-19 pandemic and increasing competition from brands like Jollibee By aligning with a humanitarian cause, KFC aims to resonate with environmentally conscious customers and reinforce its positive brand message.

Key Message “Ngày môi trường, đi đường nhớ KFC”

Location Ho Chi Minh City

TVC1: Introduce the event activities that will be held by KFC in response to environment day and the incentives when customers participate

TVC2: Join KFC in the campaign "Ngày môi trường, đi đường nhớ

KFC is excited to introduce its new combo meals—Mầm, Chồi, and Lá—along with an innovative chicken offering called "Sauce by Your Way," allowing customers to customize their sauces to suit their tastes Enjoy these delicious options paired with enticing gifts for a delightful dining experience.

Image 1: The image introduces the campaign and the current state of the environment

Image 2: Campaign activities: Clean up trash, and plant trees (Starting a campaign with KFC staff to get images as a media in the early stages)

Elevator Ads: Posted in elevators of universities such as UEF, UEH, and

HUTECH, And commercial areas such as Gigamall, and Vincom

Bus ads: Paste on the bus, body position

Framedia: At universities, commercial centers

LCD Ads: in elevators, and commercial areas Appears 180/day/5s

Hire the fan pages "Én", and "Vàng Xám Comic" to draw content related to KFC to implement the campaign Run posts ads

Tiktok Ads Post a TVC about the ad campaign

Youtube Ads Run TVC on youtube according to each view and impression -

3 Influencers Combined with influencers: "Sài Gòn Xanh", "Gonpink", "Sài Gòn Béo"

Sponsorship Sponsoring "Sài Gòn Xanh", providing means, tools, drinking water, and food to carry out activities to clean up sewers and rivers

Organize events, and launch the movement of garbage collection, cleaning, and planting trees (Parallel is held once a week on weekends)

We invite media agencies, reporters, and key organizations, including the Vietnam Association of Geology and Environment and local People's Committees, to participate in our environmental initiatives Our activities include a river and culvert cleanup to remove waste and a tree planting campaign aimed at reforesting the area.

KFC will prepare full travel equipment, tools, and sanitary equipment for participants Event Progress: Welcome guests and participants; Discuss the project; perform arts; event start

In collaboration with TONKINART, a manufacturer specializing in recycled utensils made from barley stalks and plastic, we are excited to offer limited-edition toys and food containers as exclusive gifts for our valued customers Customers can earn these rewards by accumulating points: 5 points will grant you a recycled cup (2000 pieces available), 7 points will unlock a souvenir toy (1300 pieces available), and 9 points will entitle you to a limited edition food container (399 pieces available) Don't miss out on these sustainable and unique gifts!

10% discount for VIP Card and 8% for event participants

When coming to KFC, customers who bring their own cloth bags or food containers will receive a 5% discount

Mầm combo (3 pieces of chicken, 1 can of Pepsi/7up/Mirinda, price from

80.000 VND 85.000 VND depending on the choice of sauce/spice of to your choice)

Chồi combo (5 pieces of chicken, 1 spaghetti with tomato sauce, sausage, chicken balls, 2 cans of Pepsi/7up/Mirinda, price from 160.000 VND to 165.000 VND depending on your choice of sauce/condiment)

Enjoy our combo meal featuring 7 pieces of chicken, 2 servings of spaghetti with tomato sauce, sausage, chicken balls, and your choice of 3 cans of Pepsi, 7Up, or Mirinda Priced between 240,000 VND and 245,000 VND, the final cost depends on your selection of sauce or condiment.

Join the "Foresee with KFC" mini-game by predicting the total number of trees KFC will plant after the campaign To participate, simply comment your guess and share the post on your personal page using the hashtag #vuicungKFC.

#hanhdongxanhcungKFC #KFCvituonglaixanh 10 people with the most correct predictions: o First: Get the Lá combo o Next 20 predictors: Combo Chồi o Last 30 people: Mầm Combo

Post TVCs and Images of the campaign's achievements, memorable moments in the campaign

Image 3: Future, green world with KFC

Honoring participants, guests, and customer contributions

Organizing PR events is essential to recognize the dedication and contributions of all participants These events feature engaging activities, including music performances, expressions of gratitude, gift presentations, and the distribution of certificates Additionally, a summary of fun minigames adds to the overall experience, ensuring a memorable occasion for everyone involved.

3 Sale promotions Promotion Gift combos of recycled gifts: Cups, toys, and food containers for event participants with excellent achievements

Table 1 New IMC idea for KFC 1:

Instagram,Website More than 40000 reacions, 120000 views TVC:

Facebook Ads More than 30000 reactions 2*20.000.000

Influencers More than 5 million views on TikTok, increase brand awareness by 10%

Sponsorship It attracted 10,000 new customer 250.000.000 250.000.000

Discount, Combo Attract 5000 new customers

Table 7.2: KPI and Budget of new IMC idea for KFC o Weaknesses of the topic:

Despite the group's significant efforts in conducting this research, time constraints and limited research capacity have posed challenges Throughout the process, the group received feedback that raised doubts about the credibility of their findings, highlighting several limitations in the research topic.

With a rapidly growing urban population and a demographic of young, high-income individuals, KFC strategically targets this market segment As the economy evolves and disposable incomes rise, young consumers, who often juggle busy work schedules and social commitments, will increasingly seek convenient dining options This shift indicates a promising future for KFC, not only in urban centers but also in rural and suburban areas, presenting both significant opportunities and challenges for the brand's expansion.

In 2022, the consumer price index (CPI) experienced an upward trend, which is expected to continue into 2023, leading to an increased demand for food In response, the team will propose a new integrated marketing communication (IMC) plan for KFC aimed at boosting revenue in alignment with the rising CPI trends.

The IMC budget for KFC in Vietnam lacks accuracy due to insufficient information from the company's financial statements for 2022 The current revenue figures are based on incorrect ratios and reference numbers With access to precise sales data, the team believes they could develop a more accurate and realistic Key Performance Indicator (KPI) for the IMC.

In 2021, KFC Vietnam generated a total revenue of 2,829 billion VND (approximately 120 million USD), which indicates that the company allocates nearly 198 billion VND annually for marketing expenses The recent campaign titled "Environment Day, Remember KFC" had a budget of 5 billion VND, which the team deemed a reasonable investment in their marketing strategy.

Figure 1.6: The types of expenses in F&B service business are allocated with the following percentage of revenue

CONCLUSION

KFC Vietnam, analyzed by DABEST group, stands out as a leading fast food brand in the country and was the first franchise to establish itself in Vietnam Despite being a fast food chain, KFC has successfully positioned itself as a luxury brand in the U.S market Through effective market penetration strategies and competitive pricing, KFC has reached a broad customer base across various cities and provinces in Vietnam The brand impresses customers with its high-quality products, diverse menu options, and affordable prices.

KFC Vietnam's success can be attributed to its effective marketing strategy, which includes impressive advertising campaigns aimed at enhancing brand recognition and customer experiences Additionally, KFC prioritizes the expansion of its store network and invests in modern technologies to further improve the overall customer experience.

KFC Vietnam faces significant challenges, including intense competition and a market shift towards healthier food options To thrive, KFC must prioritize maintaining high product and service quality while staying attuned to market trends to fulfill customer demands and differentiate itself in the fast food sector Additionally, KFC's Integrated Marketing Communication (IMC) campaigns have not been sufficient to restore the brand's previous prominence, as they primarily enhance brand recognition without effectively motivating customers to make purchases.

In summary, KFC Vietnam aims to strengthen its presence in the fast food market through the dedicated efforts of its employees and the ongoing support of its customers To adapt to the evolving consumer landscape, the Dabest team proposes a fresh Integrated Marketing Communication (IMC) campaign that focuses on innovative operational strategies, modern sales techniques, and engaging activities tailored to current market trends.

Umar Farooq (nd), What are Shopping Products? Retrieved on: https://www.marketingtutor.net/shopping-products-definition-examples/

Anạs Nin (2014), “We don’t see things as they are We see them as we are” Retrieved on: https://quoteinvestigator.com/2014/03/09/as-we-are/

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Vòng đời sản phẩm là một khái niệm quan trọng trong marketing, bao gồm bốn giai đoạn chính: giới thiệu, tăng trưởng, trưởng thành và suy giảm Mỗi giai đoạn yêu cầu các chiến lược marketing khác nhau để tối ưu hóa doanh thu và thị phần Hiểu rõ vòng đời sản phẩm giúp doanh nghiệp phát triển kế hoạch tiếp thị hiệu quả, từ việc ra mắt sản phẩm mới cho đến việc quản lý sản phẩm khi đã đạt đến giai đoạn trưởng thành Việc áp dụng đúng chiến lược tại từng giai đoạn có thể quyết định sự thành công lâu dài của sản phẩm trên thị trường.

The product life cycle is a crucial framework for understanding business strategies, as it outlines the stages a product goes through from introduction to decline Analyzing each phase helps businesses tailor their marketing efforts and make informed decisions to enhance product performance By leveraging insights from the product life cycle, companies can optimize their strategies to adapt to market changes and consumer needs effectively For more information, visit Tomorrow Marketer's article on the product life cycle.

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%C4%90%E1%BB%83%20qu%E1%BA%A3n%20l%C3%BD&text=Chi%E1%BB%81u%20r

Chiến lược tiêu chuẩn hóa sản phẩm là một phương pháp quan trọng giúp doanh nghiệp tối ưu hóa quy trình sản xuất và nâng cao chất lượng sản phẩm Theo Đức Nhượng (2019), việc áp dụng chiến lược này không chỉ giúp giảm chi phí mà còn tạo ra sự đồng nhất trong trải nghiệm khách hàng Doanh nghiệp cần xác định mục tiêu rõ ràng khi triển khai chiến lược tiêu chuẩn hóa để đạt được hiệu quả tối ưu và đáp ứng nhu cầu thị trường.

Long Hồ (2018), Thương hiệu và ảnh hưởng từ quốc gia xuất xứ Retrieved on: https://www.brandsvietnam.com/16805-Thuong-hieu-va-anh-huong- -quoc-gia-xuat-xutu

(Q&Me, 2020), Các chuỗi thức ăn nhanh phổ biến tại Việt Nam Retrieved on: https://qandme.net/vi/baibaocao/cac-chuoi-thuc- -nhanh-pho-bien- -vietnam.htmlan tai

VIET ECONOMIC TIMES (2021), TIỀM NĂNG THỊ TRƯỜNG THỨC ĂN NHANH VIỆT NAM Retrieved on: https://vnfranchise.vn/da-dang-thi-truong-thuc- -nhanh-viet-nam/an

KFC (2022), KFC miễn phí giao hàng trên giao diện hoàn toàn mới Retrieved on: https://www.facebook.com/KFCVietnam/photos/a.108634262502162/4853604808005060/?paip v=0&eavY77FoacGdjXohbJGEWOr_TbRfRlR-y28DNeyq- zDkLSM6h6mAp1ZHXeaUS518An7A&_rdr

KFC là một thương hiệu nổi tiếng với chính sách hoạt động rõ ràng và minh bạch, được thể hiện qua trang web chính thức của họ Thành công của KFC tại Việt Nam không chỉ đến từ chất lượng sản phẩm mà còn nhờ vào chiến lược kinh doanh hiệu quả, như đã được phân tích trong nghiên cứu của UEF Những yếu tố này đã góp phần tạo nên vị thế vững chắc của KFC trên thị trường.

In the 2015 article "Packaging Design," it highlights KFC's commitment to environmentally friendly packaging solutions The piece discusses how KFC has made strides in reducing its ecological footprint through innovative design practices By focusing on sustainable materials and processes, KFC aims to promote a greener future while enhancing its brand image This initiative reflects a growing trend in the food industry towards environmentally responsible packaging.

KFC (nd) KFC thay đổi bao bì mới, đơn giản và tinh tế hơn Retrieved on: https://www.facebook.com/KFCVietnam/posts/722848467747402/

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Understanding effective pricing strategies is crucial for business success The seven best pricing strategies include cost-plus pricing, value-based pricing, penetration pricing, skimming pricing, dynamic pricing, competition-based pricing, and economy pricing Each strategy serves different market needs and can significantly impact profitability and customer perception Implementing the right pricing strategy helps businesses attract customers while maximizing revenue.

Chiến lược giá là một phần quan trọng trong marketing, giúp doanh nghiệp xác định mức giá phù hợp cho sản phẩm hoặc dịch vụ của mình Các chiến lược giá hiệu quả có thể bao gồm định giá theo chi phí, định giá theo giá trị, và định giá cạnh tranh Việc áp dụng chiến lược giá đúng đắn không chỉ tăng cường sức cạnh tranh mà còn tối ưu hóa lợi nhuận cho doanh nghiệp Tìm hiểu và áp dụng các chiến lược giá này sẽ giúp doanh nghiệp thu hút khách hàng và nâng cao giá trị thương hiệu.

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