7P marketing mix model and how it is used by KFC and McDonalds
The 7P model involves the product, the price of the product, promotion of the product, the place
that the product will be distributed to, the process to be used in the marketing of the product, the
physical environment of the product and finally the people to buy and use the product. When
combined, these factors will complete the full process of marketing and the best results or the
marketing goals will be achieved. These 7P are as discussed below.
Products the various items that are produced, manufactured or built meet the consumer needs.
The consumer could either be an individual or a group of several people. For the marketing
process to successful, there must be products being produced and these products satisfies the
needs of the intended people. To have the right product, a business should consider various
things such as the main aim of the consumer when buying a product, the manner in which the
consumer will use the product, the location of the consumers, the various sizes that a consumer
may afford to buy, the final look of the product, the name of the product among other things
(Michael J Baker, 2010).
On the marketing strategy of KFC, the company offers a variety of products such sauteed
chicken pieces which are made through a well-established procedure. The company is involved
in chicken selling which is either in the form of salad or packed meat. The company also targets
to soon introduce new products like verge-burger and the verge wrap. On the other hand,
Mcdonald's strategy is to replace the product that has on the market for long with new ones that
will easily fit in the modern fast-changing society.
In marketing, the price can be described as the set amount for which one should pay to acquire
the possession of a product or a service. Prices of the products produced to determine the
existence of a business in that it is a major factor in determining the profit that the company will
earn. Also, the manner in which prices are changed either by reducing the prices or increasing
them also determines the number of products that the user or consumer will manage to buy at a
particular time. It helps the buyer decide if they should buy the business's products or the
business competitors’ products. This is because it builds a perception in the buyer's eyes
especially where window shopping is used commonly. The prices are determined by things such
as the production cost, consumer perception of the possible value, competitors’ prices among
KFC have set their prices well within the range of their customer's ability. The company that
mainly targets the middle class sets the price of the fast moving product is a friendly and
affordable level. This is so as to ensure that the product caters to other products that are not fast
moving. Also when the company introduces new products, it sells them at a low price so that the
customers can have a chance to feel, test and taste the new product. As a result, the new products
start getting customers who will be buying the commodity regularly. On the side of MacDonald,
the company categorizes its products as per their branding, pricing and the affordability. On
some other occasions, they categorize the products according to the consumer's perception
toward a particular product of the McDonalds. This enables a buyer to easily get the product they
wish to buy at a cost price that suits their pockets.