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Cultural Adaptability

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"The marketing environment... consists of the actors and forces outside marketing that affect marketing management's ability to develop and maintain successful transactions with its target customers’ (Kotler et al 1998). Due to perpetual changes in the nature of the current global environment and the development of technology encouraging competition and demanding innovation of businesses, the basic principles of marketing have expanded beyond just advertising and selling a product. The strategies involved in the process of marketing have become complex and dependent on multiple aspects in the business arena. One of the most important concepts of marketing is customer orientated marketing. An evolution in the field of marketing has seen customer oriented marketing become the primary method used by large companies looking to expand and increase their brand equity and shareholder value. One example whereby a company has implemented customer orientated marketing in their business plan is the recent decision by Yum Brands Inc. develop new products to put on the menu of their KFC chains in China. This paper will discuss the various aspects of customer orientated marketing strategies in context of KFC’s new menu makeover scheme and further discuss the supplementary concepts of competitor oriented marketing and market segmentation and targeting.
Business owners have two basic choices when marketing their products. First, they can create products and then find ways to generate demand among consumers. The second option is to identify customer needs and then create products that meet those needs. This second approach is called the “market-pull” or customer orientated model of marketing, because it relies on consumer demand to “pull” the p...

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...strategies.
From a profit perspective, organisations enjoy greater profits when they have a loyal customer base that makes frequent repeat purchases as well as an increasing number of new customers. Under Yum Inc., KFC China is a commercial business chain and is in constant competition with other fast food giants hence, profit maximization is central to management’s strategic decision making as they must generate a good return for shareholders and increase customer satisfaction. The concept of customer orientated marketing is fundamental in ensuring the success of any company seeking to maximise their brand equity and increase cash flow. As increasing competition in the global market grows, the fast food industry will continue to see advancements and pressure companies to innovate and develop new ideas and strategies outside of the mainstream marketing approaches.
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