For this assignment you will develop a business plan outline and a written executive summary of the key concepts of the business plan. Your target for this assignment is the Company you identified in the Business Plan Development assignment (attached below). You are not actually creating the video submission in this assignment, but you are creating the content you will present in your final presentation video. Listed below are the typical elements that are found in most simple business plans. Each section expresses details that are important to the plan and its goals and objectives as they relate to the overall growth of the organization. Some business plans focus on niche opportunities or special projects. Some are for the firm as a whole. In most cases the Executive Summary is developed after the full plan is completed and is used to bring all areas of the organization on board with the plan and how it will be achieved. Your objective is to create a niche element for the company you have identified and develop a simple business plan using these headings. For this assignment complete a similar chart and then write an Executive Summary of the idea. Chart data: file:///Users/hoangnguyen/Downloads/business%20plan%20%202.webarchive For example: Southwest Airlines is a key employer based in Dallas. They fly to Hawaii and an interesting niche business plan might be to develop more of a first class approach for flyers on this route. Listed below are some of the elements that would be important to developing this business plan. From them you can develop a 3 to 5 minute presentation of an Executive Summary of the plan. Your objective is to do the same for the company you have selected, and the business plan idea you have created. SOUTHWEST AIRLINES – HawaiiCLASS Notes Executive Summary Current Marketing Situation SWA has connecting flights to Hawaii that are served from Dallas and other major cities. The flight to Hawaii is like most others, crowded and at capacity. Market Description Price sensitive Product Review Competitive Review United, Delta, and American are the major domestic competitors Distribution Review SWOT Strengths Weaknesses Opportunities Threats Objectives and Issues Develop a first class flight at a lower cost. Marketing Strategy Positioning Product Strategy Reduce number of seats in the plane for comfort and atmosphere Pricing Strategy Not the most expensive and not the cheapest Distribution Strategy Offer prime flights to frequent SWA customers Communications Strategy Frequent flyer emails, terminal displays, in flight marketing and corrependence Marketing Research Internal data and competition data Marketing Organization Action Programs Metrics 1st Quarter/Year Offer flights to preferred customers 2nd Quarter/Year Measure sales data 3rd Quarter/Year Expand offering to full market 4th Quarter/Year Increase number of flights to Hawaii Pro Forma Budgets/Financials Additional Controls 1 Business Plan Development The University of Texas at Arlington Quynh Tran BCOM 3360-014 William Venable 10/24/2021 2 Company Overview Kentucky Fried Chicken (KFC) is an American fast-food restaurant franchise specializing in fried chicken with headquarters in Louisville, Kentucky. Product Since the Company is well-known worldwide for chain delivery of chicken, it would also be of great benefit to venture into fried chicken pizza delivery. This paper will give a proper business plan for the Company’s fried chicken pizza. Industry The restaurant industry. Target Consumer Americans aged between 20 to 54 who interact and have families make up the target consumers. Children make up a large portion of the target consumers of fried chicken pizza, accounting for one-third of the population. (Hassan, 2021), discusses that fried chicken pizza is preferred over other fast food by children aged 4 to 19, frequently impacting family eating preferences. Price Point and Competitive advantages The average price of fried chicken pizza ranges from $7.25 to $15. Pizza restaurants have several competitive advantages, including being positioned in densely inhabited places, hightraffic areas, popular tourist destinations, mall-food courts, and easily accessible target retailers. (Hassan, 2021), argues that they’ve also developed great ties with their customers and suppliers by effectively marketing their image and establishing solid rapports to maintain a welcoming environment. They’re all willing to collaborate with suppliers. 3 Competition Top three competitors The top three pizza competitors include McDonald’s, a fast-food outlet that accounts for a sizable portion of the customer base both domestically and globally. The others are Pizza Hut and Domino, two of the largest pizza companies in the world. Both major in providing pizza delivery as well as take away services. Product Distribution Home and office delivery are Pizza restaurant’s first means of distribution. Customers may place an order in advance and have it delivered to their house by calling the restaurants. Customers may go to the local Pizza restaurant, place an order, and pick it up or dine in as well. The restaurantstyle facility is one of Pizza restaurant’s biggest competitiveness. (Vardhan, 2021), argues that a Pizza restaurant provides a clean environment to dine on a selection of pizzas in a pleasant, family setting. Ordering through the internet is the third way of distribution. The region that is chosen customers may now place orders for goods via the website. Media Selection Print advertisement in a magazine The publications in the magazine would be about the recipes used in the preparation of the chicken fried pizza, the added flavors mean of ordering and delivering, various locations of the pizza shops, the after-sale services, and lastly, the offers made the pizza restaurants. Television Influential, famous, and creative people could advertise chicken fried pizza on television because they attract and are often followed by many people across the globe. Therefore, 4 advertisements on televisions would create awareness of the chicken fried pizza and increase sales volume, which would yield large profits. Billboard Billboards reach a large group of people, especially in densely populated areas. When billboards containing logos and brands of the chicken fried pizza are placed in such places across the world, it will create awareness of the product, enabling the product to sell and compete well in the industry globally. Conclusion In conclusion, if the Kentucky Fried Chicken Corporation ventures into the Fried chicken pizza delivery business and uses this business plan, it would attract many customers and expand their business boundaries, enabling them to maximize profits. This would also enable them to compete actively in the restaurant industry. 5 References Hassan, N. A. (2021). Factors affecting customer satisfaction in fast-food restaurant using fuzzy AHP: companies perspective (Doctoral dissertation, Universiti Teknologi MARA Perlis). Vardhan, H. G. (2021). Customers’ Service Quality Expectations From Quick Service Restaurants. The Retail and Marketing Review, 17(1), 79-88. 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