Solution
Sudipta answered on
May 30 2021
1
STRATEGIC PLAN
Description of the company
Yum! Brands, Inc. is one of the most popular US based companies involved in delivering fast food across the globe. KFC, Pizza Hut, Taco Bell, WingStreet and The Habit of Burger Grill are five major
ands that operate under the um
ella of Yum! Brands. The company cu
ently offers their buses in more than 150 nations (Yum.com, 2020). Franchise based business target has been used by the management team of Yum! Brands in order to increase the number of stores. As per cu
ent reports, the company has more than 50,000 restaurants across the globe and around 34,000 employees are associated with the
and (Yum.com, 2020).
History
PepsiCo’s fast food division established an entity called Tricon Global Restaurants, Inc back in 1997. It listed under NYSE in 2002 with a re
anded version and called Yum! Brands, Inc. PizzaHut was the first
and established under that business unit. WingStreet was launched in 2003 and KFC was launched in 2004.
4P analysis of Yum! Brands, Inc.
Product
Each
and under Yum Brands offers a different product. For example, KFC is very focused on preparation related to burgers, crispy chicken, while Taco Bell is well known for Mecan origin dishes and grilled stuff. PizzaHut has expertise in the field of Pizza. Different varieties of pizza both veg and nonveg, are prepared by the restaurant.
Price
Yum! Brands maintain premium pricing strategies in their business. Winrow & Johnson (2010) stated that premium pricing is nothing but setting a higher price to its competitors. As the company offers comparatively better quality of food than its competitors therefore, despite having high prices, customers prefer to have food from any restaurants of Yum! Brands.
Place
As per the reports, it can be found that the company has expanded its services to more than 150 nations with more than 50,000 restaurants. Yum! Brands is the largest restaurant chain in the world. In addition to this, the company offers their products online as well. They have their own delivery service for PizzaHut, KFC and Taco Bell.
Promotion
Promotional strategy is one of the unique components of the
and, the company is involved in every possible promotional campaign like television commercial, social media, collaboration marketing and so on. Festive discount is one of the major promotional strategies implemented by the
and. In addition to this, coupon code, cashback offers from third party payment systems are some modern approaches of promotion executed by Yum! Brands.
Company’s mission statement and its impact on the organization’s activities
Mission statement: Our mission is to build the world's most loved, trusted and fastest growing restaurant
ands. We are evolving KFC, Pizza Hut and Taco Bell into iconic, distinctive and relevant global
ands.
Impact: As the company always wanted to be the ‘most loved’, ‘most trusted’
and in the word therefore, the management team is very much concerned with the quality of the product they deliver. The company’s each activity is designed in such a way so they do not need to compromise with the quality of product at any cost. Internal activities like production of raw material, training to chiefs, maintaining kitchen hygiene are highly strict.
Explain the cu
ent situation of the organization
While looking at the company’s worldwide revenue figure, it can be found that the company has generated a revenue of US$ 5.5 billion during the year 2018-2019. Total assets of the
and amounted to US$ 5.23 billion, at the same time net income of the company is US$1.29 billion. This figure has proved that the company is cu
ently at the top most position in the fast food industry across the globe.
If...