Assignment of Project

8/8/2019 Assignment of Project

1/13

ASSIGNMENT OF PROJECT MANAGEMENT

ON MARKET ANALYSIS OF A PRODUCT

SUBMMITED TO: SUBMMITED BY:

DR. LIAQUAT ALI KARAMPAUL SINGH

MBA 2ND

(3RD

SEM.)

5882 , SEC- C

SCHOOL OF MANAGEMENT STUDIES

PUNJABI UNIVERSITY, PATIALA

What is a project management?


2/13

Project management is the discipline of planning, organizing, securing and

managing resources to bring about the successful completion of specificengineering project goals and objectives. It is sometimes conflated with programmanagement, however technically it is actually a higher level construction: a groupof related and somehow interdependent engineering projects. A project is atemporary endeavor, having a defined beginning and end (usually constrained bydate, but can be by funding or deliverables), undertaken to meet unique goals and

objectives, usually to bring about beneficial change or added value. The temporarynature of projects stands in contrast to business as usual (or operations), which arerepetitive, permanent or semi-permanent functional work to produce products orservices. In practice, the management of these two systems is often found to bequite different, and as such requires the development of distinct technical skills andthe adoption of separate management.

The primary challenge of project management is to achieve all of the engineering project goalsand objectives while honoring the preconceived project constraints.Typical constraints are scope, time, and budget. The secondaryand more

ambitiouschallenge is to optimize the allocation and integration of inputsnecessaryto meet pre-defined objectives.


3/13

What is marketing analysis of project ?

Market analysis is a documented investigation of a market that is used to inform a

firm's planning activities particularly around decisions of inventory, purchase,

work force expansion/contraction, facility expansion, purchases of capitalequipment, promotional activities, and many other aspects of a company.

The key ateps in marketing analysis..

y Situational analysis and specification of objectivesy Collection of secondary informationy Conduct of market surveyy Characterization of the markety

Demand forecastingy Market planning

Market analysis is a necessary part of planning a profitable business. Invest time

in this crucial step now and reap the rewards of a successful business. Conductinga market analysis will help you:

1. Prepare to enter a new market2. Launch a new product/service3. Start a new business

At the completion of this exercise, you should be able to:

y Explain the concepts of a marketing analysisy Determine if there is a need for your idea or product/servicey Identify a new markety Analyze your current markety Gain a competitive advantagey Begin to establish a marketing plan


4/13

Before investing any money in your business, you must gatherinformation about your potential customers and the demand for your

product of service.This information, or market analysis, is a necessarypart of planning a profitable business. Invest time in this crucial step nowand reap the rewards of a successful business.

BENEFITS OF MARKET ANALYSIS

1)Faster Cash Flow Knowing who your customer is, what they need, and where tofind them is vitally important. Targeting the right people is crucial for generatingcash flow in the shortest time possible.

2)Greater Market Share An examination of current market conditions tells youwho your competition is, the size and location of the market, current competitor

pricing and promotional strategies, and types of market niches which are

underdeveloped.

Positioning your product for greatest exposure, while creating an image of qualityand value for your product, allows you to become a serious player.

3)Reduced Expenses A leading cause of business failure is lack of capital - the

business runs out of start-up funds before becoming profitable. It's important to

make every penny count. You reduce expenditures by trying to predict outcomes

before taking action. There is always a certain amount of risk with any business

venture,however,analyzingyourmarketreducesthatrisk.


5/13

In my assignment a want to do the market analysis of KFCS new products in

veg category:-

KFC operates in 74 countries and territories throughout the world under the

name KFC. Colonel Harland D. Sanders founded KFC in Corbin, Kentucky. TheColonel perfected his secret blend of 11 herbs and spices for KFC in 1939.

1

Colonel Harland Sanders, born September 9, 1890, actively began franchising his

chicken business at the age of 65. Now, the Kentucky Fried Chicken business he

started has grown to be one of the largest retail food service systems in the

world. And Colonel Sanders, a quick service restaurant pioneer, has become a

symbol of entrepreneurial spirit.

More than two billion of the Colonel's "finger lickin' good" chicken dinners areserved annually. And not just in North America. The Colonel's cooking is available

in more than 82 countries around the world. In the early 1950s a new interstatehighway was planned to bypass the town of Corbin. Seeing an end to his business,the Colonel auctioned off his operations. After paying his bills, he was reduced toliving on his $105 Social Security checks. Confident of the quality of his friedchicken, the Colonel devoted himself to the chicken franchising business that hestarted in 1952. He traveled across the country by car from restaurant to restaurant,cooking batches of chicken for restaurant owners and their employees. If thereaction was favorable, he entered into a handshake agreement on a deal that

stipulated a payment to him of a nickel for each chicken the restaurant sold. By1964, Colonel Sanders had more than 600 franchised outlets for his chicken in theUnited States and Canada. That year, he sold his interest in the U.S. company for$2 million to a group of investors including John Y. Brown Jr., who later wasgovernor of Kentucky from 1980 to 1984. The Colonel remained a public

spokesman for the company. In 1976, an independent survey ranked the Colonel asthe world's second most recognizable celebrity.


6/13

Situational analysis

KFC restaurants offer fried chicken products and also offer non-fried chicken-on-

the-bone products including Original Recipe, Extra Tasty Crispy and Tender

Roast. Other items include Chunky Chicken Pot Pies, Colonel's Crispy Strips, andvarious chicken sandwiches. KFC restaurants also offer a variety of side items,

such as biscuits, mashed potatoes and gravy, cole slaw and corn, as well as desserts

and beverages. Their distinctive packaging includes the "Bucket" of chicken.

KFC's worldwide system sales grew faster than the industry average even though

the number of restaurants in its global system did not materially increase. This

growth was largely due to the impact of new products.2

U.S. growth was not as

fortunate. Competition from sandwich chains, as well as consumer demand for a

wider variety of menu offerings, has forced KFC to reanalyze its product strategy.KFC needs to focus on improving product offerings and serving their product

faster and with better service to consumers.

KFC is part of a larger corporation, Tricon Global Restaurants. Tricon also owns

Pizza Hut and Taco Bell, among others. Tricon has a clearly identified purpose that

applies to their food business units: sustainable sales growth.3

To help support

this, the company has a target of creating 750,000 Customer Maniacs, defined by

the company as a team members who are obsessed to go the extra mile to make

sure we put a YUM on our customers faces every time they eat our food. This is

the key to sales and profitability.4

The company does not have a clear mission

statement or defined core competencies. Their stated goal: Our passion is to put a

YUM on peoples faces around the world.we offer that special eating experience

that makes you smile and creates lifelong customers. Well do that with: food you

cravecomeback valueand customer-focused teams.


7/13

Swot analysis:

strenghts

Brand Equity 2nd Only to McDonalds in Foreign Sales $550M Strong Cash Flows Generate $1B each year Very strong Internationally

UK, Middle East, Thailand, China, Japan, Korea, Mexico

Strong Franchise and License Fee revenues for cash flow. Interactive relationship marketing Strong trademarks recipes Ranks highest among all chicken restaurant chains for its convenience and

menu variety. Largest multibranded restaurant in the world 100 KFC and Pizza Hut combos

600 KFC and Taco Bell combos

Weaknesses

Recent drop in sales for KFC Failed to rank in top 20 in growth in 2000. Same Store sales declined Lack of point of scale scanning system Admitted inability to provide quality service Lack of knowledge abut their customers Lack of relationship building with employees, customers and suppliers i.e.

Chick-fil-a Question of over franchising leads to loss of control and quality Lack of focus on R&D


8/13

Opportunities

Growth of 18-24 age demographic Increase in U.S. median income International beef scare from mad-cow and hoof and mouth disease Home Meal Replacement Market will exceed an estimated $577 billion by

2020 Targeting to growing ethnic markets Asian American and Hispanic New Leadership Domestic markets Updating restaurants Balanced menu Customer focus Increase delivery service

Threats

Rated 83 out of 100 in terms of competitiveness Increasing wage rates directly affect menu prices 85% annual employee turnover for fast food market Supermarkets and new competitors threaten HMR market International Exchange Rates Health Trend away from fried foods Changing customer demands Quality of Service Focus


9/13

Market survey

In this assignment , I have done the market survey of kfc restaurants veg products

, because kfc recently starts its veg products in the market. in this study I have read

the profile and the market analysis case studies of the kfc restaurants.in this study Ihave collected data from various resources about the customers of kfc products ,

kfc services and about the market. In the market survey ihave done also done a

marketing research method. In the marketing research method I have made a

questionnaire and done a market steps in markey survey:

1. Target market KFC is a restaurant and produces many fast food products .and its target customers and market is new generation or highly income

holders. As we have studied that kfc was operating in non-veg items , but

now from few months it has started veg products to cater the market.2. Select the population and size of market survey- for this study , I have

chosen the my population for survey , population of chandigarhs kfc rest.

Customers and the sample size is 50.

3. Develop the questionnaire- to do the study in a good manner , I have made aquestionnaire , to study about the customers perception to kfcs products .in

my questionnaire I have 6 questions and all these qus. Are sufficient to find

out the market survey.

4.

Analysis and interpretation of data after the data collection , the next workis to analyze the data which was colled by various sources. And in the

analysis of data simple techniques are used.

And this study is done by me in the Chandigarh KFC restaurant.


10/13

Objectives of the market survey:

1. Find out the perception of consumers of veg products of KFC restaurant.2. To study the sale figures of KFC restaurant.3.

To study the taste and preference of customers to veg products.4. To study about the Indian customers to foreign fasd food centers .

5. To find out the its impact on KFC restaurants customer satisfaction.

Analysis of data

In the analysis of data , first I have made the data in a systematic manner, and

using many tools to analysis this.

Qus.1. What are your perception to veg products of KFC restaurant ?

From 50 respondents , the perception of customers of KFC products is very good

and they are like KFC fast food products and given the answers in yes. And 40

given the ans. In yes .

Qus.2. What are income of customers of KFC restaurant?

From 50 respondents , the income of respondents are:

Below 20000 10%

Below 25000 12%

Below 30000 30%

Above 30000 48%

Qus.3. Are you satisfied with the product mix strategies and segmentation of KFC?

From 50 respondents , the 35 respondents given the answer in yes . and 15 in no,

because now vegetarian customers can visit in the KFC .


11/13

Qus.4. Are you satisfied with the quality and taste of this restaurant ?

From 50 respondents 40 respondents are like and satisfied with the quality of the

products of KFC.

Qus.5. Have you changed your restaurant after the KFC started its veg products ?

From 50 respondents , 15 respondents given ans.in yes.

Qus.6. Are u satisfied with the price strategies and advertising of KFC ?

From 50 respondents , 25 respondents agree with the price strategies of the KFC.

Conclusion

After the analysis of data , I have made a analysis of market about the KFC

restaurants products . in the analysis we have found that customers like the veg .

products of kfc and they are satisfied with the market and pricing strategies of the

kfc and like the quality of food . but KFC have no any other food chain in near

cities like Patiala , sirhind and many customers from these cities.


12/13

QUESTIONNIARE

Name .

Age ..

Address

.

Phone

no

Qus. 1. Are yoouu like KFCs fast food products?

Qus.2. what is your income?

BELOW 20000BELOW 25000

BELOW 30000

ABOVE 30000

Qus.3. Are you satisfied with the product mix strategies and segmentation of KFC?

YES NO

YES NO


13/13

Qus.4. Are you satisfied with the quality and taste of this restaurant ?

Qus.5. Have you changed your restaurant after the KFC started its veg products ?

Qus.6. Are u satisfied with the price strategies and advertising of KFC ?

YES NO

YES NO

YES NO

Documents

Assignment of Project