Entrepreneurship - 4409 Words

1 LESSON- 1 ENTREPRENEUR AND ENTREPRENEURSHIP Dr. Jyotsna Sethi STRUCTURE 1.0 Introduction 1.1 Objectives 1.2 Entrepreneurship as a Career Option 1.3 Concepts and Definitions 1.3.1 Entrepreneur 1.3.2 Entrepreneurship 1.3.3 Enterprise 1.3.4 Difference between Entrepreneur and Entrepreneurship 1.4 Role of Entrepreneurship in Economic Development 1.4.1 Entrepreneurship and Economic Development 1.4.2Entrepreneurship and Education 1.5 Functions of an Entrepreneur 1.6 Innovation 1.7 Risk and Uncertainty Bearing 1.8 Organization 1.9 Functions Performed by an Imitator Entrepreneur 1.10Entrepreneur vs. Manager Relationship 1.11 Summary 1.12†¦show more content†¦This book will help you to understand the process of setting up a small business, running it successfully and seeing it grow. And let us remind you that this career opportunity is not only for boys but also for girls - all those girls who think smart, are ready to act and script the story of their own life - like Shehnaz Hussain or Ritu Kumar or Kiran Majumdar Shaw. 1.1 OBJECTIVES After going through this lesson you should be able to: †¢ Inculcate the Desire to take up Entrepreneurship as a Career †¢ Differentiate between Wage employment, Self-employment and Entrepreneurship †¢ Define and know the Meaning of the terms Entrepreneur, Entrepreneurship and Enterprise †¢ Learn about the Functions performed by an Entrepreneur †¢ Understand the Role of Entrepreneurship in Economic Development †¢ Differentiate the roles of an Entrepreneur and a Manager 1.2 ENTREPRENEURSHIP AS A CAREER OPTION After finishing your graduation you will be at the crossroads of life. You will face the dilemma of choosing what you have to do in life. The vast majority of human beings direct their activities towards earning a living, generating wealth and improving their standard of living. You can choose your career from two broad categories of options – Wage Employment or Entrepreneurship. The term ‘career’ signifies a continuous, ever evolving, ever expanding opportunity for personal as well as business growthShow MoreRelatedEntrepreneurship1111 Words   |  5 PagesEntrepreneurship Entrepreneurship is the act of being an entrepreneur or one who undertakes innovations, finance and business acumen in an effort to transform innovations into economic goods. This may result in new organizations or may be part of revitalizing mature organizations in response to a perceived opportunity. The most obvious form of entrepreneurship is that of starting new businesses (referred as Startup Company); however, in recent years, the term has been extended to include socialRead MoreEntrepreneurship1326 Words   |  6 Pages‘Critically evaluate the key theoretical developments of the term Entrepreneurship’. Student Name : Jonalee B. Magtoto Student ID : 1009007374 Matriculation No: 20037830 Date: June 13th 2013 Word Count : 2,091 words Introduction: Entrepreneurship as a lot of meaning but for me it divided into two separate fundamental, the first part debate high involveRead MoreEntrepreneurship1228 Words   |  5 Pagesthat has the right of control is hired from the owner. Page 2 of 4 Similarities and differences between a manager, a business owner and an entrepreneur By Henry Amm Modern approaches like ‘corporate entrepreneurship’ try to overcome those boundaries by incorporating advantages of entrepreneurship into common management. Companies try to facilitate diversification with internal development workshops. That makes activities necessary, in areas that are usually only loosely related to the current ‘domain’Read MoreEntrepreneurship4156 Words   |  17 PagesEntrepreneurship Challenges in 21st. Century | | What is Entrepreneurship? The definition of entrepreneurship has been debated among scholars, educators, researchers, and policy makers since the concept was first established in the early 1700’s. The term â€Å"entrepreneurship† comes from the French verb â€Å"entreprendre† and the German word â€Å"unternehmen†, both means to â€Å"undertake†. Bygrave and Hofer in1891 defined the entrepreneurial process as ‘involving all the functions, activities, and actions associatedRead MoreEntrepreneurship1106 Words   |  5 Pagesenterprise without undermining his/her relationship. In this last case a good entrepreneur should be free from personal commitment, at first, at least, because his/her work, or his/her relationship, could be compromised. Q2: Inc. Magazine claims, â€Å"Entrepreneurship is more mundane than it’s sometimes portrayed †¦ you don’t need to be a person of mythical proportions to be very, very successful in building a company.† Do you agree? Explain. 2. I don’t agree with the sentence above; I think that a temporaryRead MoreEntrepreneurship Should Be Aware At The World Of Entrepreneurship Essay1531 Words   |  7 PagesPROVIDED MANY OPPORTUNITIES ANYONE PLANNING TO ENTER THE WORLD OF ENTREPRENEURSHIP SHOULD BE AWARE OF ITS POTENTIAL DRAWBACKS Introduction:- Entrepreneurship is defined as the practice of beginning a new trade or reviving an existing business, for capitalizing on fresh opportunities. The statement were analyzing today is all about entrepreneurship. The author here is trying to explain that like every coin has two sides, entrepreneurship also has benefits and drawbacks. Every year the number of peopleRead Moreentrepreneurship2937 Words   |  12 PagesSCHOOL OF ENGINEERING AND INFORMATION TECHNOLOGY ASSESSMENT COVER SHEET Student Name Navpreet Kaur Student ID S265457 Assessment Title Case Study 1 Unit Number and Title PRT503 Entrepreneurship for Professionals Lecturer/Tutor Mr. Jamal El-Den Date Submitted 07 August 2014 Date Received OFFICE USE ONLY KEEP A COPY Please be sure to make a copy of your work. If you have submitted assessment work electronically make sure you have a backup copy. PLAGIARISM PlagiarismRead MoreThe Concept Of An Entrepreneurship1345 Words   |  6 PagesThe definition of an entrepreneurship is a commonly argued point, with several definitions given by many different people. The Business in Action textbook defines entrepreneurship as the combination of innovation, initiative and willingness take risks required to create and operate new businesses and an entrepreneur as a person with positive, forward-thinking desire to create profitable, sustainable business enterprise. According to this definition, a small business owner could definitely be classedRead MoreSocial Entrepreneurship1926 Words   |  8 PagesRose Spiegel Rationale 5.7.13 Everyone describes social entrepreneurship differently. While many have been able to describe the traits and features of a social entrepreneur there doesn’t seem at all to be a consensus about the definition of what constitutes the field of social entrepreneurship. Susan Davis and David Bornstein in their book, Social Entrepreneurship: What Everyone Needs to Know define social entrepreneurship as â€Å"a process by which citizens build or transform institutions to advanceRead MoreCorporate Entrepreneurship1295 Words   |  6 PagesCorporate Entrepreneurship Corporate Entrepreneurship can be seen as the process whereby an individual or a group creates a new venture within an existing organization, revitalizes and renews an organization ,or innovates. Zahra’s(1986) definition of corporate entrepreneurship suggests aformal or informal activity aimed at creating new businesses in established firms through product and process innovations and market developments,whereas sathe(1985) defines corporate entrepreneurship as a process

The Zodiac Killer - 1732 Words

Lucas Kelleher/ Street Law 10/3/08 The Zodiac Killer The Zodiac Killer is a serial killer who operated in Northern California in the late 1960s. His identity to this day still remains unknown. The Zodiac coined his name in a series of taunting letters he sent to the press. His letters included four cryptograms (or ciphers), three of which have yet to be solved. The Zodiac murdered five known victims in Benicia, Vallejo, Lake Berryessa, and San Francisco between December 1968 and October 1969. Four men and three women between the ages of 16 and 29 were targeted. Others have also been suspected to be Zodiac victims, but they have been ruled inconclusive. The lack of consensus about the number of victims, the inability of law enforcement†¦show more content†¦At 2 a.m. on October 22, 1969, someone claiming to be the Zodiac called Oakland PD demanding that one of two prominent lawyers, F. Lee Bailey or Melvin Belli, appear on Jim Dunbars television talk show in the morning. Ba iley was not available, but Belli appeared on the show. Dunbar appealed to the viewers to keep the lines open, and eventually, someone claiming to be the Zodiac called several times and said his name was Sam. Belli agreed to meet with him in Daly City, but the suspect never showed up. Police officers who had heard the Zodiac, listened to Sams voice and agreed that he was not the Zodiac. Subsequent calls the suspect made to Belli were traced to the Napa State Hospital, where it was learned that Sam was a mental patient. On November 8, 1969, the Zodiac mailed a card with another cryptogram consisting of 340 characters. On November 9, 1969, he mailed a seven-page letter in which he claimed that two policemen stopped and actually spoke with him three minutes after he shot Stine. Excerpts from the letter were published in the Chronicle on November 12, including the Zodiacs claim; that same day, Don Fouke wrote a memo explaining what had happened that night. The 340 character cipher has never been decoded. Many possible solutions have been suggested, but cannot be accepted since they do away with code making conventions. On December 20, 1969,Show MoreRelatedEssay on The Zodiac Killer2341 Words   |  10 PagesThe Zodiac Killer Works Cited Not Included In the late sixties and early seventies, California was haunted by dozens of unsolved murders. The offender remains unknown to this day. The murderer, who referred to himself as the Zodiac, made contact with the police and area newspapers throughout his reign of terror through a series of menacing notes. Although the police were never able to apprehend Zodiac, they were able to gather information about him via the letters. Zodiac boasted of killingRead More The Zodiac Killer Essay2809 Words   |  12 Pagesear. The shot made a deafening blast, as the bullet entered David’s head at a horizontal angle, blowing it apart (Tina 3). With David out of his way, the killer turned his attention back to Betty. He pursued her through the woods, his gun drawn, and shot her five times in the back from less than ten feet away. (Tina 3). The killer then got back into his car, and drove away as quickly as he had appeared. David, amazingly, was still alive, and bleeding profusely from his wounds, but Betty wasRead MoreThe Zodiac Killer Project2069 Words   |  9 PagesThe Zodiac Killer Project The crime spree murders of the Zodiac killer is one of the greatest unsolved murdered cases of all time. The Zodiac’s murders took place from later 1960s, through to about 1972. Most of The Zodiac’s murders took place in Northern California. Some main areas where murders took place are Benicia, Vallejo, Lake Berryessa, and San Francisco, California. Two out of the four men that were attacked lived and three women out of the three were killed. The ages of the victims goesRead MoreEssay On The Zodiac Killer1734 Words   |  7 PagesThis is the Zodiac Speaking â€Å"I like killing people, because it is fun. It is more fun than killing wild game in the forest, because man is the most dangerous animal of all.† These are the words spoken by a man who terrorized the area of San Francisco, California for two years, lurking in the shadows killing five people, but taking credit for 37 different murders. This man taunted police, seeing his murders as one giant game, sending cryptic messages to the newspapers, forcing them to publish themRead More The Elusive Zodiac Killer Essays2062 Words   |  9 PagesThe Elusive Zodiac Killer Serial killers almost without exception enjoy playing games. Whether played with their victims’, or the police forces trying to track them down, the game of the kill is almost as essential as the murder itself. In most instances this need to draw out the experience leads to the downfall of the culprit. This was not the case with the elusive Zodiac Killer of the San Francisco Bay Area. Zodiac’s career, which would become the most cerebral murder case ofRead MoreEssay On The Zodiac Killer3047 Words   |  13 PagesLaw enforcement officers meet in San Francisco in 1969 to compare notes on the Zodiac Killer, who is believed to have killed five people in 1968 and 1969. The killer gained notoriety by writing several letters to police boasting of the slayings. He claimed to have killed as many as 37 people and has never been caught..Zodiac kill up to 45 people and more that they dont know about because he kill people in a different way in the different town that he was in but he word the same thing every timeRead MoreEssay on The Zodiac Killer2094 Words   |  9 PagesThe Zodiac Killer The late 1960’s and early 1970’s were a time of great change in America. The Vietnam War, the civil rights movement and the sexual revolution were just some of the issues on the evening news in American households. For citizens of the San Francisco Bay area, as well as the rest of California, the late 60’s early 70’represented terror, fear and death. â€Å"The bizarre and theatrical and still unresolved serial murders by real-life ghoul who called himself Zodiac, who claimed inRead MoreTaking a Look at the Zodiac Killer1610 Words   |  6 Pages The Zodiac Killer is one of the greatest unsolved serial killer mysteries, after Jack the Ripper. There were 2,500 suspects, but the case was never solved. The Zodiac’s first known victim is Cheri Jo Bates. His first letter, Confession, mentioned Cheri and said, â€Å" she is not the first and she will not be the last†. Six months after Cheri’s death, the killer sent copies of the letters to the Riverside Press, the police, and her dad. Since the killer knew her dad, the police thought that CheriRead MoreThe Zodiac Killer Case Revisited1231 Words   |  5 PagesThe Zodiac Killer Case Revisited I. List of crimes The horrors in California began on Friday, December 20, 1968 in the city of Vallejo when sixteen-year-old Betty Lou Jensen and seventeen-year-old David Faraday were killed while out on a date. At the time, according to Haugen (2011), they had driven to a remote lover’s lane on Lake Herman Road. It was while they were there that a vehicle stopped nearby and the driver got out, shot out the rear passenger window of David Faraday’s station wagonRead More The Zodiac Killer Essay examples1229 Words   |  5 Pages Much is unknown about the Zodiac killer, but given what is known about serial killers in general, this man was probably born between 1938 and 1943. That would make his age between 25 and 30 years old at the time of his first murder in Vallejo, California, in 1968. Also, that age estimate works with witness statements and its supported by Zodiacs references to his victims in younger terms in his letters of 1969. Zodiac wasnt an attractive character from what we kn ow. He may have had to wear glasses

Mean People vs Nice People Free Essays

Running head: MEAN PEOPLE VS NICE PEOPLE MEAN PEOPLE VS NICE PEOPLE2 In life there are many emotions that one can think of many people often think of the happier emotions before thinking about the darker side of the emotion wheel. Has one ever wanted to run away from a situation not because of their surroundings but possibly because of the mean people standing in front of them? One way to get away from this situation is to nicely thank them and leave or never show up in the first place to the situation as the people may already understanding that the mean people are like that and do not want to put themselves in that surrounding or situation. The situation is clear that in this world there is nice people and mean people and that people may or may not be wired this way and throughout this, we will discover the true understanding of mean people and of nice people and how to better understand people from these points of view. We will write a custom essay sample on Mean People vs Nice People or any similar topic only for you Order Now Can you even imagine that you were only judged by nice or mean and nothing else mattered? Not your personality, not who you were, not all you did for the world or your friends, just if you were nice or mean. Some people find it really hard to be nice or to even play nice, they would rather be themselves and be there mean selves then to even crack a smile or show any sort of friendly nature, they just struggle with it. It is like they were born with DNA that have been given mean genes and not friendly or nice genes and want not â€Å"askmen. com†. There has been a new study about mean people and DNA and how it affect people, but it would not be a fair study without all the nice people in the world, the study with over 348 people. This study made a vivid view of what the researchers were studying and if DNA was a bad component and if it really made a true difference in this study and if DNA was at fault and if it was to blame or if there was other possiblities in life to blame. MEAN PEOPLE VS NICE PEOPLE 3 Can mean people fit in any lifestyle, from working professional, to a college professional, to a college student? Many mean people do not even realize they are mean or just brush it off there shoulders and do not onsider themselves mean but others however consider themselves not nice and consider them mean and sometimes cruel. When this survey came along the people who were asked about being mean had realized not only they were mean but were willing to share there experiences with this product to maybe help others. References askmen. com. (n. d. ). Retrieved from http://www. askmen. com/sports/news/mean-people. html (n. d. ). Retrieved from http://fox6now. com/2012/04/18/new-study-indicates-mean-people-are-b orn-that-way/ How to cite Mean People vs Nice People, Essay examples

Kfc Marketing Research free essay sample

Malaysia’s first ever KFC Restaurant was opened on Jalan Tuanku Abdul Rahman, and KFC Malaysia has grown ever since. KFC Malaysia is a Western Quick Service Restaurants (WQSR) operation, well known for its fast food service. It is the single largest WQSR chain in Malaysia and in the Asia-Pacific region (excluding Japan). ? The items on its menu are mostly chicken-related items. But besides the chicken products or items that they serve, there are also side dishes included in the menu such as coleslaw, French fries, mashed potatoes, and potato wedges. KFC Malaysia caters to various groups of people; from individuals to families, and children as well. They serve different sets of meals to suit the different group of customers KFC Malaysia caters to. People can never be fully satisfied. Lately, people have become more worried about their health and because of that, sales of fast food have been declining. Therefore, ideas of introducing a range of healthier eating alternatives to KFC’s existing product range have been put forward. However, there are certain things that must be identified before the ideas can be put into action. The purpose of this report is to identify the following: -Is there consumer demand for a new range of healthier products? -What type of new products should be introduced? -How should these new products be marketed? ? Fast Food Operations, Business Structure, http://www. kfcholdings. com. my/kfch_corp/business_fast. htm 2. 0Current Market Situation 2. 1 Microenvironment Analysis 2. 1. 1 Suppliers KFC Malaysia has developed its operations over the years and has in a way become its own supplier. As the only integrated food operator in Malaysia, KFC has undertaken operations in hatchery, breeder farms, feedmill, and processing. It does, however, import hatchers and incubators from Chickmaster, USA to be used in the hatching processes. KFC also has exclusive rights to Ross Breeders of Scotland to breed the fast-growing broilers. ? 2. 1. 2 The Company’s Market KFC Malaysia uses the differentiated or segmented marketing strategy. The geographic, demographic, and psychographic variables are the 3 main segments that KFC Malaysia uses. Psychographically, KFC Malaysia’s market is mainly segmented based on the lifestyle its regular customers, basically those who have work on their hands all the time. This kind of customers would want quick-serving food, and KFC provides just that. Demographically, KFC Malaysia’s market segment is based on age. KFC caters to, generally, people who are roughly in the age group of 4 to 40 years old. Elderly people would not choose to go to any fast food outlets, including KFC, as their health is at stake. Geographically, KFC Malaysia’s market segment is largely based on density. There are around 340 KFC outlets in Malaysia, and most of them are situated in suburban and city areas. Figure 1 shows the locations of the KFC outlets all around Malaysia. Integrated Poultry Operations, http://www. kfcholdings. com. my/kfch_corp/business_fast. htm Figure 1: KFC outlets in Malaysia, taken from http://www. kfc. com. my/outlets/index. html 2. 1. 3 Competitors Like any other fast food service, KFC Malaysia has many competitors that range from those selling chicken based products to those selling non-chicken based products. Despite the many competi tors that KFC Malaysia has, it still is by far the most popular Western Quick Service Restaurants (WQSR) chain around, controlling almost 60% of the WQSR market in Malaysia. But this might soon change if KFC Malaysia does not act faster than its competitors in introducing a new range of healthier products. McDonald’s (Malaysia) is the closest rival or competitor of KFC Malaysia, and it has reacted quickly in the wake of people wanting healthier products. ‘Bubur Ayam McD’ is an example of a healthier product that McDonald’s has come up with. It contains a certain amount of vitamins, carbohydrate, minerals and fibre. The chicken used in this product is shredded, and is therefore healthier compared to fried chicken. Another competitor, Kenny Roger’s, a chicken based fast food restaurant, offers roasted chicken, which is healthier than fried chicken as it does not contain so much oil, while Nando’s Chickenland Malaysia has grilled chicken on its menu. Other competitors, such as Burger King, AW, Shakey’s Pizza, and Malaysia’s very own Marrybrown, are mainly offering salads in order to attract more health-conscious customers. 2. 2 Macroenvironment Analysis 2. 2. 1 Economic Environment The economic environment is a crucial macroenvironment force that plays a big part in KFC Malaysia’s performance and operations. It mainly consists of factors that affect the consumer buying power and spending patterns of KFC’s customers. The economic condition in Malaysia has been growing well, with an average of about 5% growth in its Gross Domestic Product (GDP) over the year 2003. This continued growth of the Malaysian economy would allow consumer purchasing power to increase and thus, bring about a possibility of an increase in sales of consumer products and services. The chart below shows the Malaysian economic growth throughout the year 2003. Figure 2: Quarterly growth of Malaysian economy throughout 2003. % figures were taken from http://www. kfcholdings. com. my/kfch_corp/kfch_ar2003. pdf, â€Å"The Economy†, pg . 30. of KFC Holdings (Malaysia) Annual Report 2003. ] 2. 2. 2 Demographic Environment The demographic environment is another major macroenvironment force that has an influence over KFC Malaysia’s operations. Size, density, location, and age are some of the demographic for ces that are important to KFC Malaysia. All of these forces contribute to how KFC operates and market its products. Most of KFC Malaysia’s patrons usually come in between an age group of 7 to about 30 years old. Nearly 70% of KFC Malaysia’s total customer population come from this age group. KFC Malaysia’s market is mainly focused based on its density, where places such as towns and cities have more outlets than others places where the density is lower. This is because the size of population in those kinds of places is usually higher, and thus makes the possibility of gaining higher sales greater as well. 2. 2. 3 Technological Environment KFC Malaysia’s operations are, in some ways, very much influenced by the technological environment. Technological forces can allow KFC Malaysia to broaden its market opportunities, as well as create new products for its customers who are now living in a technologically advanced era. Operations of KFC Malaysia can also be smoothened as new technologies come in. 2. 2. 4 Cultural Environment The Malaysian society’s basic values, perceptions, preferences, and behaviours are the cultural forces that affect KFC Malaysia’s performance and operations. The way KFC’s customers look and view this organisation plays a big role in how it is run. KFC Malaysia has always been viewed as the provider of a â€Å"finger lickin’ good† eating experience, and it is vitally important that its customers continue to have that perception on KFC. 3. 0The New Healthier Product Proposal 3. 1 New Proposal There are now a growing number of health-conscious individuals in the world, especially in Asia, and that includes Malaysia. Fast food has always been one-of-those ‘unhealthy’ food in people’s minds. Therefore in order for KFC Malaysia to attract this group of people and not lose its current customers who are now health-conscious, new proposals of a healthier menu is a necessity. There are 2 proposals in this report; one of them is making some modification to KFC’s current menu, while the other is a proposal of a few new ‘healthier’ products. Adjustments or changes that are to be implanted into KFC Malaysia’s current menu must not be too drastic that it takes away the tastiness of its menu. Here are some proposed modifications. -Replace ice-creams with not so expensive, fruit yogurts in its family set meals. -Use less fattening or fat-free dressings for the coleslaw. -Put less gravy on top of the mashed potatoes. Add more lettuce in its burgers, less sauce. -Give customers the option to choose fruit juices instead of soft drinks in its set meals. Apart from the modifications on KFC Malaysia’s current menu, there are other additional products that could be included into its menu. Here are the proposed additional products. -A set meal consisting of a Tender Roasted Chicken Sandwich, a customer-choice fruit juice (orange/apple/w atermelon/honeydew/mango), and a cup of BBQ baked beans. -Salads, such as Garden Salad and Chicken Salad. 4. 0Market Potential for New Proposal In order for the new proposal to be implemented, it is important for KFC Malaysia to take a brief look into its market potential, target market, and product rationale. 4. 1 Product Rationale 4. 1. 1 Objectives or Purposes of New Product There are a few reasons why the new proposal has been proposed. KFC Malaysia needs to be sensitive to the current situation in Malaysia, where more people are becoming health conscious. Fast food restaurants are one of the very few restaurants that people would usually go to when it comes to eating healthy food. KFC Malaysia ought to try to change these people’s mindsets, and that can be done by introducing the new ‘healthier’ and modified products. A healthier menu which is able to maintain the â€Å"finger linkin’ good† eating experience that KFC usually provides would definitely have a positive impact on its market demand. The proposed modified and new KFC products would allow KFC Malaysia to develop its product, and expand its current menu. This is called product development, as shown in the product/market expansion grid in Figure 3. Existing ProductsNew Products Existing MarketsMarket PenetrationProduct Development New MarketsMarket DevelopmentDiversification Figure 3: The Product/Market Expansion Grid.? ? Kotler, P. and Armstrong, G. , Principles of Marketing, 10th ed. Pearson Education International, pg. 48 The potential increase in sales is another reason why the proposal should be implemented. As the Malaysian society is moving towards a health conscious mindset, it is only natural for the demand for healthy products to increase. A similar outcome would be expected of the new and modified KFC products, once they are introduced. A possibility of an increase of about 20% of its current sales should be a practical expectation. As this takes place, KFC Malaysia’s profit would, likewise, be expected to rise accordingly to about up to 15% of its current profit level. KFC’s profits would be expected to rise further as time goes by, when people are more familiar with the new and modified products. The new and modified KFC products would also be a boost to its current market share. KFC Malaysia is believed to be dominating about 50% of the WQSR market share at the moment. Investing into the healthier menu would increase its market share by about 5% or more. This would be a vital step to brush off challenges from KFC Malaysia’s main competitors, notably, McDonald’s. 4. 2 Target Market As KFC Malaysia is often viewed as a family oriented fast food restaurant, its target market would mainly be focused on families that consist of parents, particularly those with young children, who are concern for theirs and their children’s health. However, the healthier menu would not only be targeted at this group of people, but also at young working adults who are health conscious, and teenagers who are concern about their body shape. Young working adults, youths, parents and children would be able to enjoy the Tender Roasted Chicken Sandwich and the salads without feeling guilty of consuming unhealthy and fattening food, as they consist of good, healthy nutrition. 4. 3 Market Potential The market potential for the healthier menu is indeed very good. Malaysia has a population of about 24 million people, where slightly less than two third of that number consume fast food. The fast food market in Malaysia is mainly dominated by KFC Malaysia. Therefore with the introduction of the healthier menu, KFC Malaysia can expect to attract more potential customers than its competitors. And as more people get to know about the healthier menu that is to be introduced, KFC Malaysia can expect its market to broaden. 5. 0The New Product Range 5. 1 Positioning Strategy 5. 1. 1 Competitive Advantage KFC’s dominance in the Western Quick Service Restaurants (WQSR) market in Malaysia, where it controls more than 50% of the market, is a major competitive advantage that it has over its competitors, such as McDonalds, Burger King, Kenny Roger’s, Shakey’s Pizza, and other fast food operators. KFC Malaysia’s position as a â€Å"Great Value for Money† fast food operator is often present in the mindset of most Malaysians, and this is another competitive advantage for KFC. However, KFC’s competitors have been trying to move a step forward and challenge its position in the market by introducing healthier products in their menu. Therefore, KFC Malaysia should, likewise, take action and enforce brand image differentiation. KFC should plant a new image of itself into the public’s mind and make them view KFC as not only a provider of tasty chicken products, but also a provider of healthy and, yet, affordable fast food. . 1. 2 Overall Positioning Strategy and Positioning Statement KFC Malaysia should adopt the ‘more for more’ positioning strategy, where it implies that the new healthier menu is better than the previous menu, and it is charged at only a slightly higher price. The new modifications such as replacing the ice-cream with a fruit yogurt in the family set meals requires a higher cost as yogurts are more expensive, therefore the slight increase in price is mainly to cover that additional cost. Nevertheless, the healthier menu, although slightly more expensive, is still very much affordable. A positioning statement is important as it sums up KFC Malaysia’s positioning in the market. As offering a healthier menu would implant a new ‘healthier’ image of KFC in the public’s mind, its positioning statement should be â€Å"To health conscious people who want to consume healthy food, KFC (Malaysia) is a well established fast food operator that allows you to enjoy healthier, nutritious, and yet, tasty original recipe fast food. † 5. 2 Product Strategy 5. 2. 1 Product Attributes 5. 2. 1. 1 Product Quality The quality of KFC Malaysia’s fast food dishes is a major characteristic that would make its customers come back for more. As the quality of its current menu has always been well maintained, the quality of its healthier menu should either be just as good, or better than before. Total quality management (TQM) is an approach that KFC Malaysia can use to improve the quality of its products. 5. 2. 1. 2 Product Features Product features are a competitive tool that differentiates KFC Malaysia from its competitors. As for KFC, its new and modified healthier menu is offered alongside the current menu. Customers can either decide to consume on the new menu alone or together with any dish on its current menu. For example, the Garden Salad can go together with the KFC Chicken Nuggets or be consumed as a lone dish. This would allow KFC Malaysia’s customers to have a greater variety of choice. 5. 3 Pricing Strategy 5. 3. 1 Cost-Based Pricing This is the simplest pricing method that KFC Malaysia can use is deciding the prices for its new and modified healthier menu. By using this pricing method, the cost of its products is the main determinant that would affect the pricing decision of KFC Malaysia. For a start, KFC Malaysia would charge an extra amount of RM0. 0 for each of its family set meals because of the introduction of the fruit yogurts in place of the ice-creams. As for the newly proposed products, which are the Tender Roasted Chicken Sandwich set and the salads, it would be appropriate not to charge a high price for them. It would be recommendable for KFC Malaysia to price the Tender Roasted Chicken Sandwich set at RM6. 90 per set. The salads, on the other hand, would be priced at RM3. 50 per dish. However, the cost-based pricing would not be KFC Malaysia’s long-term pricing method. It can be slowly changed to value-based prising. 5. 3. 2 Value-Based Pricing Getting feedbacks from KFC Malaysia’s customers would be a sensible thing to do in order for it to switch its pricing method to value-based pricing. As time passes, KFC Malaysia’s customers would get familiarised with the healthier menu. KFC should then consider getting its customers’ feedbacks and perception of value of the healthier value. If its customers view the menu highly and would be willing to pay a higher price for it, then KFC Malaysia should consider increasing the price by a small sum and see if there is any change in the demand for its healthier products resulting from the change in price. . 3. 3 New-Product Pricing Strategy The Tender Roasted Chicken Sandwich set would be something new to KFC Malaysia’s customers. Therefore it should adopt the market-penetration pricing strategy, as it would allow KFC to first introduce the new product at a reasonably low price and then, increase the price slightly as demand increases. 5. 4 Promotions Advert ising, sales promotion, and public relations are the promotion tools that KFC Malaysia should use as the healthier menu is relatively new to its customers. 5. 4. 1 Sales Promotions KFC Malaysia could use sales promotions in the early stages of introducing the new healthier menu in order to encourage its customers to, at least, try it out. Promotions such as special contests, giving coupons, and special offers during public holidays would be useful in attracting customers to try the healthier menu. 5. 4. 2 Advertising Advertising the new menu through television would be an effective method as it would be able to introduce the new healthier menu to a large number of Malaysians, most of which watch the television almost everyday. The advertisement should focus on the healthy aspect of the healthier menu and stress on KFC’s priority in providing healthy but yet, tasty fast food to its customers. This would help improve the public’s perception about KFC’s products. The pull strategy could be used in its advertising as well. 5. 4. 3 Public Relations KFC Malaysia should always be in relation with its customers. This can be done by organising special events such as charity programs and health talks, and running clubs that are similar to that of KFC Kids’ Fun Club. By doing so, its customers can feel that there is a close link or connection between KFC and them. 5. 5 Placements KFC Malaysia should practise test marketing since the healthier menu is relatively new to its customers. As for now, KFC should introduce its new menu in a few of its existing outlets, perhaps focusing on the West-coast of Malaysia, as there is where most of the towns and cities are located. Kuala Lumpur, the capital of Malaysia, would be an ideal place to start introducing the healthier menu. Once the menu is well recognised, KFC Malaysia can start introducing it to other KFC outlets in Malaysia. 6. 0Conclusion In conclusion, KFC Malaysia must act towards the new shift in demand for healthier products even though it is dominating the Western Quick Service Restaurants (WQSR) market in Malaysia. KFC should use its advantage as a leading WQSR operator to take a strong hold in the new and uprising market of healthier fast food products. It is quite clear that there would be demand for a new range of healthier products. Therefore, people with a health conscious mindset, and people who are concern about their body shape are the 2 segments that would form the target market for KFC