Running Head: KFC RESTAURANT CHAIN, Exams of History

Download Running Head: KFC RESTAURANT CHAIN and more Exams History in PDF only on Docsity! Running Head: KFC RESTAURANT CHAIN 1 KFC Restaurant Chain Name of Student Name of Institution KFC RESTAURANT CHAIN 2 KFC Restaurant Chain Kentucky Fried Chicken, or KFC, is one the largest restaurant chains with fast food franchises all over the world. Its main product is fried chicken (Sharif, 2010). Headquartered in Louisville, Kentucky, KFC is at the top of the recall list for people when they think of eating meals outside the home, which is part of American food culture. KFC is also one of the best known restaurants in the industry with its popular signature brand being one of the most recognizable. This makes for ease of transition and inception for the corporation when expanding into emerging markets with the KFC presence. KFC’s history includes being founded by Colonel Harland Sanders in 1952. Since then, KFC has grown into a global fast food phenomenon with more than 15,000 franchise outlets in 105 countries and territories around the world (KFC, 2011). Domestic and International Presence The fast food industry is very competitive and complex with various types of food service companies that focus on producing food for consumers. This is true for both the domestic and international fast food industries. Globally, this industry has earned about $3.2 trillion in yearly revenues since 2004 (Sharif, 2010). This is significant and shows that the fast food industry is very lucrative, and the major players in the fast food game (such as KFC) show this in their financial strength both domestically and internationally. As mentioned, KFC is a major player in the fast food industry and this has caught the attention of investors and competitors that saturate the market for a share of the revenue pie. KFC’s main competitors include other fast food restaurant chains such as McDonald’s, Wendy’s, Hooters, Jack in the Box, Dairy Queen, Sonic, and Burger King, to name a few. The competitors also compete on both the domestic and global scales and are as equally strong as KFC in the industry. However, even though they all specialize in fast food, each has its own strategies for gaining market share and competitive advantages in the industry. KFC’s most well-known