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PESTLE Analysis of KFC

PESTLE Analysis of Prada
BusinessManagementMarketingSWOT & PESTLE 

PESTLE Analysis of Prada to Identify Its Business Tactics

by Shamsul March 2, 2022

PESTLE Analysis of Prada

To uncover the political, economic, social, technological, legal, and environmental factors of a business, PESTLE is the most useful tool that also helps to identify its business tactics. It shows various external factors which affect the business performance of the company. It is one of the useful tools for businesses and brands like Prada. PESTLE gives complete insight about market dynamics. Let’s start the PESTLE analysis of Prada:

Political Factors:

Prada specializes in manufacturing clothes, shoes, watches, and perfumes. It manufactures high-quality leather shoes and apparel. It is one of the world’s biggest fashion brands, which has a reputed brand name and reach. Prada has a presence in 70+ countries with effective business strategy and marketing. As an Italian brand, it has a different association with different countries.

Moreover, it is also very prone to the political conditions of Italy. Due to such factors, they change their business strategies occasionally. Other factors like corruption, new initiatives, and policies also have a huge impact on the business of Prada. So, political stability is crucial in those regions where Prada operates. It also involves supply chain, distribution, import, and export factors. Moreover, the risk of military invasion or any other activity can also affect the brand’s name. So, Prada must consider these factors before venturing into any country, region, or territory.

Economic Factors:

It is a fact that the overall economy of Italy is susceptible to the international economy. You can take the example of the 2008 economic recession in this regard. It is hard to recover in this environment where the economic condition is declining. It leads to various problems such as unemployment, inflation, and poor spending power.

Global companies like Prada can’t survive in this economic condition. The recent event of Brexit has been affecting the business of Prada. The currency rate also plays a huge role in this matter. As Prada operates in USD, it is highly dependent on the US markets. Prada should also focus on labor laws and labor wages of the country where it operates.

Social Factors:

It was a common misconception that fashion is only related to rich and urban people. But, it is not true these days because everyone loves to shop for unique and fashionable clothes. The disposable income of people is increasing with the passage of time. They represent their class and status through their clothes and fashion. So, you can’t neglect the impact of the social factor on style. Prada must keep social factors in the mind of a country they want to offer their products. Any mismatch in this segment can lead to poor annual sales and revenues. Women must be their primary concern because of their offerings. So, targeting customers on the basis of their food and culture is important. In this way, they can retain and attract new customers.

Technological Factors:

Technology is ever-evolving, and as a global fashion brand, you need to bring innovation in your marketing, research and development, and other working factors. By inducing the latest technology in your business, you can increase the pace of your business in the competitive market. Since its inception, Prada has been paying maximum attention to this factor. They have made various collaborations with tech brands like LG. They give the complete visual look of their products on the website by adopting the latest technology. As a result, they give their customers a better shopping experience, whether online or in-store.

Legal Factors:

As a global brand, you are prone to several legal concerns. There are various legal factors present in the lifestyle and retail sector. It is tough to survive in the fashion market, from changing taxation policies to fines, penalties, labor laws, environment laws, intellectual property rights, and much more. Prada must follow all the legalities of a country in order to keep running its business. Otherwise, they can face huge penalties and fines as well as lawsuits. They have to follow labor laws as well as environmental laws to avoid hatred from people. These things can play a huge role in the company’s business performance.

Environmental Factors:

There is no doubt about it that the fashion industry is growing at a very fast pace. We see new designs and trends every day. But, the environment is one of the biggest factors these days. Prada must reduce its carbon footprint and pollution to win the hearts of eco-conscious users. By making their business eco-friendly, they can attract more customers. It is suitable for the company and good for our environment. Prada should adopt renewable energy sources. They should produce eco-friendly products.

Conclusion:

The above factors are really crucial for the business performance of Prada. They can impact the business of Prada at any time. Prada must consider these factors before venturing into a new region or making a new policy. In this way, they can make their business very smooth and can also increase its profit margins.

 
 

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Pestle Analysis KFC
BusinessManagementMarketing

PESTLE Analysis KFC | KFC PESTLE

by Shamsul February 13, 2021

 

PESTLE Analysis KFC | KFC PESTLE

 

Kentucky Fried Chicken (KFC) is a well-liked name in the fast-food market. It is currently operating in more than 100 countries and everyone is familiar with the face of Colonel Sanders. KFC is best known for its spicy aroma and crispy fried chicken. It is really challenging to run a massive corporation such as KFC. With PESTLE Analysis KFC, you will understand the political, economical, social, technological, environmental, and legal factors of this giant fast-food restaurant. These factors effectively represent the challenges and working strategies of a company.

 

PESTLE Analysis KFC | KFC PESTLE

Political Factors:

KFC did not utilize an acronym of their real name. The term ‘’Fried Chicken’’ coupled negatively with the brand, that’s why they decided to change the name in order to protect the brand image. Honestly, KFC is the only fast-food chain in the world with unhealthy food. In comparison with Burger King and McDonald’s, they still serve high-calorie chicken. That’s why they use a smart move by removing the word ‘’fried’’ from their brand’s name that creates a great impact on the mind of customers. KFC also indulged in recent political drama when they mock the McDonald’s and Donald Trump’s tweet. Some users digest it as a harmless joke but some of the users consider it a bad joke which results in the negative publicity of the company.

 

PESTLE Analysis KFC | KFC PESTLE

Economical Factors:

As YUM is a parent company of KFC including Taco Bell and Pizza Hut. These fast-food chains are working well in other regions of the world but struggling in China. In the Chinese market, most of the companies are not growing and some of them experiencing a continuous decline in profits. The biggest problem is due to the ‘’fried chicken’’ that they have removed from their abbreviation. But, many health-conscious people still refused to eat some of its deals that are high in calories and fats. KFC’s main menu mostly consists of fried chicken which is a major weakness of the company. Fortunately, KFC is focusing on vegan items in order to attract vegan and diet-conscious users. Recently, they have created fried chicken sandwiches. They also created two types of vegan fried chicken such as vegan nuggets and boneless wings. Most of the users came just to try these new offerings. In short, these new creations proved beneficial for the company in terms social and economically.

 

PESTLE Analysis KFC | KFC PESTLE

Social Factors:

There are several fast-food companies that struggling with several social issues. These issues can create a bad impact on the brand and also erode the trust of the customers. The main social issue of the KFC is its mismanagement of worker’s wages. Some customers are also concerned about the material such as chicken and the use of unnatural elements like hormones. Some companies expose the mistreatment of animals which results in the boycott of these fast-food companies. It is important for KFC to remove its unethical practices in different segments so that people start trusting you.

Another main factor in this process is a high-calorie food. Most of the menu of KFC is filled with this kind of food. Due to the obesity crisis, most people blamed these fast-food chains. There is only one way to improve their image is adding vegan items to its menu. This is the only way to attract diet-conscious eaters or consumers.

 

PESTLE Analysis KFC | KFC PESTLE

Technological Factors:

Like other fast-food chains, KFC is also investing in new technologies for the betterment of workers. By improving the working environment for workers, customer service will automatically improve. That’s why they are hiring more tech-savvy and young people that can use the new technology on the spot like voice-activated tests. In Australia, KFC introduced a social media platform for employee communication. Now, employees can share new ideas and ask questions on this platform with each other which results in the betterment of both employees and the company. In addition, KFC is also adopting the newest technologies for easier ordering, kiosks, and deliveries. With this technology, you can place your order before reaching the counter. This process makes the ordering system much easier for consumers and they don’t need to wait in line for their turn. It is a ‘’click and collect’’ technology which is only in Australia and observed a 20 percent increase in profits.

 

PESTLE Analysis KFC | KFC PESTLE

Environmental Factors:

This giant fast-food chain is a big contributor to the environment. KFC’s paper company is directly related to deforestation, which openly impacting the health of the environment. Moreover, its unethical practices also cause the endangerment of the wildlife and environment. Due to these reasons, most of the consumers reduce to use KFC’s offerings. It is really important for the company to adopt eco-friendly practices in order to win the trust of green customers. Additionally, these kinds of practices also reduce waste and expenditure. In this way, KFC can improve its brand name.

 

PESTLE Analysis KFC | KFC PESTLE

Legal Factors:

According to recent stats, KFC works in more than 120 countries around the globe. In order to make their operations smooth and uninterrupted, they need to follow the laws and regulations of each country. They should pay taxes on time and fulfill the requirements of labor laws. Further, they also focus on the maintenance of restaurants so that people can enjoy themselves while eating. In case of any illegal practice or activity, they may face lawsuits and court processes that break the company’s name and reputation in the eyes of customers globally. That’s why it is important to fulfill the need so legal factors in each location to avoid the risk of a nuisance.

 

PESTLE Analysis KFC | KFC PESTLE

Conclusion:

In today’s world, KFC is an honorable name in the fast-food chains. Despite all the negative political stunts and controversies, they are trying to add a vegan menu to attract more customers. They are also working on the exploitation of new technologies in order to improve customer service. These steps will increase the profit game of KFC and also give a competitive edge over its competitors. According to experts, if KFC follows all the laws and regulations then it will probably continue to grow in the relative industry.

 

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February 13, 2021 0 comment
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