Comparative Analysis of Kfc and Mcdonald

Services are radically different from products and need to be marketed very differently. So the classical 4 P structure of the Marketing Mix needs to be modified suitably to incorporate the 8 Ps for services marketing, which was previously known as the 7 Ps only.

There are various versions of the 8 Ps. The first 7 Ps are as follows. The 8th P differs from version to version.

Product - The core and periphery service elements at the centre of the company's marketing strategy, the scope of a product generally includes supporting elements such as warranties, guarantees, and support. The product aspects of marketing deal with the specifications of the actual goods or services, and how it relates to the end-user's needs and wants 

Place and Time – Depending upon service , product elements are delivered to customers physically and/or electronically, the important value adds to customers are Speed and convenience. For example, point-of-sale placement or retailing. It is a channel by which a product or service is sold (e.g. online vs. retail), which geographic region or industry, to which segment (young adults, families, business people), etc. also referring to how the environment in which the product is sold in can affect sales. 

Price - pricing is only a part of what customers may part with when purchasing a service or a product. This refers to the process of setting a price for a product, including discounts. 

Promotion - Marketer must make sure communications not only provide information, but also persuade the customer of the service's relevance to the customer's particular problem. This includes advertising, sales promotion, publicity, and personal selling 

Process – This means the process by which the firm delivers product elements. 

Physical Environment - the appearance of the place where the services are delivered may have a significant impact upon whether the service was satisfactory. 

People - front-line staff for any company will...