Kfc Business Structure

Success is a very general term because the word is determined by its owner’s interpretation. Furthermore, many people have different directions in their life, so it is very difficult to fully measure each person’s successful rate. However, the successful rate is easily measured in the field of business because it mainly focus on the profit that each businesses had earned. In addition to that, business is also a growing major where many college students took interests in it, but many of them aren’t prepared to take on what lies ahead of them and have a delusional idea of business. Therefore, it is important for them to understand what business is, the types of structures it can be in, how does it actually works. Business is constructed in various ways and set up by a person or a group of people that have similar goals to …show more content…
First, the business should identify their product and target it in a field where there is potential development to undertake. Second, they should decide on a location where the product is going to meet the supply and demand line. Third, businesses should determine the method of pricing by knowing whether there is similar product on the market that is popular. Last but not least, a promotion or advertisement for the product itself is very important because a new invention will require spotlight to make it shine in the market. For example, KFC is a well-known fast-food brand in the 21st century. They have used the procedure of price and promotion in order to gain their reputation within the fast-food industry. However, they didn’t follow their product rules well enough in order to maintain in the market. As a result, their business is falling into an area where they are close to be exterminated by their opponent. Hence, the method of the four Ps should be followed in order to create and maintain a business that will become