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Marketing Management 344

This research report has been prepared for evaluation by Dr. C. Schlechter as well as KFC

Western Cape. The purpose of this report is to assess the impact of product satisfaction on

customer loyalty for KFC Western Cape.

Executive summary

KFC Western Cape has identified a number of low selling products, including the

breakfast offering the a.m. Mini Twister. The reason for this lack of sales is unknown

and must be determined by means of market research. It is believed that customer

loyalty, which is possibly influenced by product satisfaction, of the brand as well as

the product plays a significant role in the existence of this problem. The variables

brand awareness, product category usage and brand association are believed to

impact on product satisfaction, and therefore on brand loyalty. The decision

statement “Assess the impact of product satisfaction on customer loyalty for KFC

WesternCape” forms the basis of the research report. The required results were

obtained by the use of a non-probability sample being interviewed by means of a

self-administered questionnaire. A sample of a 100 respondents participated in the

study.

After collection and analysis of the data the following observations were made: KFC

ranks third amongst preferred breakfast fast food restaurants, there was a positive,

but weak relationship between loyalty and usage, there was a very weak positive

relationship between associations for an a.m. mini twister for moderate to strong

loyalty and through a Chi-square test it was identified that respondents are aware

that KFC has a breakfast menu. Ultimately the units of the sample are aware that

KFC has a breakfast menu, but do not see KFC as a first choice when buying

breakfast and is therefore not loyal to KFC. It can be concluded that understanding

what drives satisfaction among customers is a huge opportunity for fast-food

retailers. Knowing how to maximize the positive effects of those components that

satisfaction consists of can lead to considerable returns in terms of increased

satisfaction. It was recommended that KFC focus on increasing awareness of its

breakfast offering as well as creating greater associations between KFC and

breakfast.

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ContentsExecutive summary.....................................................................................................1

1. Introduction..........................................................................................................1

1.a. Theoretical Discussion.....................................................................................1

1.a.i. Brand Loyalty..............................................................................................2

1.a.ii. Product Satisfaction...................................................................................2

1.a.iii. Brand and Product Awareness..................................................................3

1.a.iv. Product Category Usage...........................................................................3

1.a.v. Brand/Product Association.........................................................................4

1.b. Discussion of Problem Definition......................................................................4

1.c Discussion of Research Objectives...................................................................5

2. Research Method.................................................................................................6

2.a. Research Objectives Formulated into Hypotheses:..........................................6

2.b. Research design...............................................................................................7

2.b.i. Brief discussion of secondary research conducted:....................................7

2.b.ii. Detailed discussion of primary research conducted...................................8

2.c Measurement instrument...................................................................................9

2.d. Sampling plan...................................................................................................9

2.d.i. Target population........................................................................................9

2.d.ii. Research Frame.......................................................................................10

2.d.iii. Probable or non-probable........................................................................10

2.e. The design of a sample..................................................................................11

2.e.i. Sample size...............................................................................................12

2.e.ii. Selecting the sampling units.....................................................................13

2.f. Data collection and Fieldwork..........................................................................14

2.g. Analysis..........................................................................................................15

3. Results:..............................................................................................................16

3.a. Realised sample:............................................................................................16

3.b. Descriptive data:.............................................................................................19

3.c. Inferential Data...............................................................................................24

4. Limitations of the Study......................................................................................27

5. Conclusion and Recommendations...................................................................28

6. Reference List....................................................................................................30

7. Annexures..........................................................................................................32

Declaration of Group Member Contribution...........................................................32

Plagiarism Declaration:..........................................................................................33

Research Project Assessment Sheet....................................................................34

Questionnaire Copy...............................................................................................35

Calculations Table.................................................................................................37

Table of figures

Figure 1.c 6

3.a.i 17

3.a.ii 18

3.a.iii 18

3.a.iv 19

3.b. 20

3.b.i 20

3.b.ii 21

3.b.iii 22

3.b.iv 22

3.b.v 23

3.b.vi 23

3.b.vii 24

3.c.i 24

3.c.ii 25

3.c.iii 26

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1. Introduction

1.a. Theoretical Discussion

KFC is a fast-food restaurant that is present throughout the world. The restaurant

focuses on chicken products, offering fast-food chicken products during breakfast,

lunch and dinner times. The company has expanded exponentially; there are now

over 15,000 KFC outlets in 105 countries and territories around the world.(About Us,

2012)

KFC Western Cape approached the University of Stellenbosch Marketing

Management 344 class of 2012 to investigate, using relevant theory, why certain

products within the company’s product offering are underperforming. Based on sales

performance KFC has highlighted the products that are performing worse than they

had initially anticipated. These products stand out significantly as proving to be

problematic for KFC. Why are these products so-called “slow-movers?” Why is the

demand for them so low? This report aims to answer these questions by focusing on

the a.m. Mini Twister that is offered during breakfast hours at KFC. In this report the

term ‘slow-mover’ is defined as a product identified by the client as an

underperformer in the sales category due to some influence-able marketing

related variable(s). This report analyses primary research that was conducted to

determine the reasons behind the poor performance of this product.

This primary research was conducted using a survey research method by means of

a questionnaire that was completed by means of a non-probability, mall-intercept

sampling method. One hundred respondents were asked to complete the

questionnaire, and this was done at the Cape Town International Airport. The results

of this research was analysed using the Pearson Correlation and Chi-Squared

analysis methods, and relevant conclusions and recommendations drawn from this

analysis.

The purpose of this study was therefore to determine the reasons for the low sales of

this product, determining if there were any relationships between constructs and

variables that were identified. These relationships were identified and analysed to

determine the roles they played in contributing to the existence of this problem. To

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determine these relationships a number of constructs and their related variables

were used. These constructs were:

1.a.i. Brand Loyalty

This is a construct that has been thoroughly used and investigated by researchers

for over three decades. Jacoby and Kyner (1973:2) describes brand loyalty as

consisting of six conditions: “(1)the biased (non-random), (2) behavioural response

(purchase), (3) expressed over time, (4) by some decision-making unit, (5) with

respect to one or more alternative brands out of a set of such brands, and (6) is a

function of psychological (decision-making, evaluative) processes.”

This construct gave the researchers an indication of whether or not consumers are

loyal (or not) to KFC and whether the existence of this loyalty is influenced by

product satisfaction. The measurement of loyalty is a problematic exercise but being

able to accurately show correlation with other constructs allows the researchers to

draw definite and relevant results.

1.a.ii. Product Satisfaction

Swan and Jones Combs (1976:25) describe product satisfaction as follows: “When

purchasing a product the consumer makes predictions (forms expectations)

concerning the future performance of the item. As the item is used, the consumer

compares the quality of performance to his expectations. If the product performs as

well as, or better than, expected he will be satisfied. If, however, performance is

below expectations, dissatisfaction will result.”

Research has established that judgments of the quality ofproduct performance are

related to expectations. The general finding is that products that meet or exceed

expectations receive favourable ratings on product performance, while those that

perform below expectations receive less favourable ratings. Therefore, it is logical to

assume that favourable judgments of performance would yield satisfaction and

unfavourable judgments would lead to dissatisfaction. (Swan & Jones Combs, 1976:

25-26)

This construct allowed the researchers to determine the level of satisfaction that

respondents have experienced when frequenting a KFC outlet and purchasing a

product, a breakfast offering and/or an a.m. Mini Twister.

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From the product satisfaction construct, the following variables were derived:

1.a.iii. Brand and Product Awareness

Hoyer and Brown (1990:141) describe brand awareness as:” a rudimentary level of

brand knowledge involving, at the least, recognition of the brand name. Awareness

represents the lowest end of a continuum of brand knowledge that ranges from

simple recognition of the brand name to a highly developed cognitive structure based

on detailed information.” Brand awareness has also been proven to increase with the

help of advertising (Clarke et. al, 2009: 30-33). Brand and product awareness is

positively influenced by advertising.

Brand and product awareness can fall under this definition, as both can be subject to

recognition and recall. The researchers felt that this is an apt variable as the

possibility is there that product satisfaction can be determined by the degree of

brand and product awareness that is present. The determining of this would lead to

the ability to make useful recommendation with regards to awareness, therefore

brand and product awareness was an applicable variable to be used.

1.a.iv. Product Category Usage

Product usage (usage) refers to the purchasing and use (consumption) of a product.

This consists of two types of usage, trial usage and repeat usage. Kempf and Smith

(1998:325) define trial usage (or product trial) as: “a consumer's first usage

experience with a brand, it is a critical factor in determining brand beliefs, attitudes,

and purchase intentions.” This variable indicated to the researches how willing

consumers were to trial a new product, as well as specifically trial a product on the

KFC breakfast menu. This indicated to the researchers whether the sample

population would even attempt the focus product and was thus an applicable sub-

variable to be used.

Repeat usage refers to the willingness on consumers to continuously purchase the

same product. A number of factors can influence this purchase behaviour, Hoyer

(1984:822) discusses these: “many decisions are made repeatedly or frequently over

time… in these instances, consumers may rely not only on previously acquired

product information stored in memory, but also on judgments of brand satisfaction or

dissatisfaction, which occur in the post-purchase evaluation (or usage) stage of the

decision process.” As is discussed above, repeat usage is influenced by factors

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including brand satisfaction, making in an increasingly applicable variable to the

product satisfaction construct. This sub-variable indicated to the researchers whether

respondents indicated any evidence of brand loyalty and whether product and brand

satisfaction was influenced by repeated usage. As a whole, the product usage

variable contributed significantly to the conclusions drawn about product satisfaction

as well as an overall understanding of the respondent results.

1.a.v. Brand/Product Association

Brand associations provide value to the brand, firm, consumer and product. Chen

(2001:440) elaborates:” There are a variety of ways brand associations can provide

value. Among the ways in which associations create value to the firm and its

customers are: helping to process/retrieve information, differentiating the brand,

generating a reason to buy, creating positive attitudes/feelings, and providing a basis

for extension.” Product association can be described as a type of brand association

(Chen, 2001:443) and can further be divided into functional attribute associations

and non-functional attribute associations. Functional attribute associations consist of

product attributes, perceived quality and functional benefits, while non-functional

attribute associations consist of symbolic association, emotional association,

price/value and user/usage situation. (Chen, 2001:443). The association variable

allowed the researchers to determine how KFC and its breakfast offerings were

perceived, while taking a number of the above-mentioned factors into consideration.

The association variable contributed to the product satisfaction construct by

highlighting to what degree customers were satisfied with previous visits to the

restaurant and past purchases.

1.b. Discussion of Problem Definition

A situational analysis of the problems surrounding the slow-moving KFC products

within the Western Cape lead to the situation being defined as: KFC offers products

that do not sell as well as expected, costing the company resources such as money

and time. The symptoms of this situation are the low selling products as indicated to

the researchers by KFC. No interview process with KFC was conducted, but the list

provided to the researchers by the companies indicates the low-selling products.

This report focuses on the low selling breakfast offering of KFC and in particular the

a.m. Mini Twister.

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A problem occurs when there is a difference between the current conditions and a

more preferable set of conditions (Zikmund&Babin, 2012:110). Clearly this is the

case with the low-selling products and this problem needs to be solved. As

discussed above, probable causes of this problem were identified as brand and

product awareness, product category usage and brand and product association.

These variables made up the construct product satisfaction and this, along with the

construct customer loyalty formed the basis of the research into the problem.

The aim of this study was therefore to investigate the problem of the low selling KFC

product a.m. Mini Twister by focusing on awareness, product usage and association.

The results of the research as well as the analysis of these results would be used to

determine the cause of this problem. To determine whether customer loyalty was

impacting the cause of the problem, and if this was influenced by customer

satisfaction was to be the main reason for the study.

A problem/decision statement is a clear and unambiguous statement of the object of

study and the research objectives (Mouton, 2001:48). With the relevant constructs

and applicable variables in mind such a statement for this report was formulated:

Assess the impact of product satisfaction on customer loyalty for KFC

Western Cape.

1.c Discussion of Research Objectives

From the decision statement it is clear that the relationship between the constructs

as well as those with the variables needed to be tested. Thus, the following research

objectives were formulated:

Determine if there is a relationship between usage and loyalty.

Determine if loyalty is influenced by associations.

Determine if loyalty is affected by awareness.

These objectives formed the basis for the research study going forward. The primary

research focused on these objectives, as did the analysis of these results and the

recommendations that were made.

A conceptual diagram is used below to visually depict the link between the variables

and constructs.

6

Figure 1.c.

2. Research Method

2.a. Research Objectives Formulated into Hypotheses:

The above research objectives were further formulated into testable hypotheses that

would allow for further investigation into each objective. For the first set of

hypotheses the researches attempted to determine whether there existed a

correlation between product category usage and brand loyalty.

HA0: There is no relationship between product category usage and loyalty.

HA1: There is a relationship between product category usage and loyalty.

For the second set of hypotheses the researched attempted to determine whether

there existed a correlation between brand association and brand loyalty.

HB0: Association has no impact on loyalty.

HB1: Association has an impact on loyalty.

Product Satisfaction

Associations

Usage Awareness

Loyalty

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For the third set of hypotheses the researchers attempted to determine whether

there existed a correlation between brand loyalty and brand awareness.

HC0: Loyalty is not affected by awareness.

HC1: Loyalty is affected by awareness.

2.b. Research design

According to Zikmund and Babin (2010:64), a research design encompasses the

overarching blueprint for a research report. It depicts the relevant methods and

procedures used in order to effectively conduct the required data collection and

analysis.

Both primary and secondary research was conducted to develop a comprehensive

understanding of the current situation faced by KFC Western Cape. This report is a

survey research study of the aforementioned constructs’ interrelationship based

heavily on primary-empirical data. Non-empirical secondary research was also

conducted. A detailed discussion of the primary and secondary research

methodologies and procedures utilised in compiling this report follows below.

2.b.i. Brief discussion of secondary research conducted:

The study includes a conceptual analysis of secondary data that reviews existing

findings on the theoretical and empirical relationships between product satisfaction

as a function of awareness, product category usage and associations and product

satisfaction and customer loyalty.

A conceptual analysis aims to clarify existing, theoretical, non-empirical data in order

to assist researchers in categorising and comparing primary research findings. The

use of credible existing theory significantly improves the relevance, accuracy and

reliability of survey research as it provides a sense of depth and clarity to the

research methodology.

The preceding secondary research was conducted in order to clarify definitions and

discussions on the constructs and variables used. The discussion on brand

awareness was assisted by information gathered from Brown and Hoyer (1990) as

well as Clarke et. al. (2009). The discussion on product category usage and in

particular was aided by information gathered from Brown and Hoyer (1990), Hoyer

8

(1984) and Jacoby &Kyner (1973). The discussion of the trial usage section of this

variable incorporated the views of Kempf and Smith (1998) into it.

To examine further information regarding brand associations, Chen (2001) was

consulted. For further investigation into brand loyalty, information from Jacoby and

Kyner (1973) was consulted. For discussion on the construct customer satisfaction,

Jones Combs and Swan (1976) was the primary source used. For further information

on the effect of advertising on all previously mentioned constructs and variables,

Clarke et. al. (2009) as well as Kempf and Smith (1998) was consulted. All

secondary research conducted preceding this section has been discussed here, as

is referenced previously.

Most secondary research that was conducted was in the form of external research,

some internal research was conducted in the form of the information received from

KFC regarding the list of slow-moving products.

2.b.ii. Detailed discussion of primary research conducted

To conduct the primary research, the researchers made use of survey research is

the form of questionnaires. There are a number of advantages and disadvantages to

using a survey research method. The advantages include: it provides a quick,

inexpensive, efficient and often accurate means of assessing information about a

population. Also, fairly straightforward statistical tools can be used by researchers to

analyse the data gathered. (Zikmund&Babin, 2012:191). These advantages were

particularly appealing to the researchers in this case. The disadvantages of survey

research include: when researchers do not follow basic research principles results

can be ineffective or misleading. Also, respondent errors could be a real problem, as

well as researcher errors - such as measuring the wrong relationships

(Zikmund&Babin, 2012:191).

The surveys conducted were, to a certain extent, that of an interactive approach.

Respondents had the ability to interact with the researcher, although the

questionnaire was completed by respondents on their own. Therefore, to a certain

extent, the questionnaires could be considered to be self-administered.

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2.c Measurement instrument

A number of different measurement scales were used to conduct and measure the

primary research. Nominal, ordinal, interval and ratio scales were used throughout

the research. These scales allowed for the accurate and appropriate measurement

of the results. Also, by using different scales the researchers improved their chances

of obtaining accurate, comprehensive data. Examples of these included in the

questionnaire (which can be found as an annexure) are: Nominal: question 1,

Ordinal: question 7, Interval: question 17, Ratio: question 21.

Discrete measures as well as continuous measures were used throughout the

research. Discrete measures are taken of the nominal and ordinal scales while

continuous measures are taken of the interval and ratio scales. As this research

aims to show correlation, composite measures were also taken. When primary

research is conducted the three criteria for good measurement, namely reliability,

validity and sensitivity (Zikmund&Babin, 2012:334-337) need to be adhered to. The

primary research of this report has strived to meet these criteria, although it is limited

by its validity and reliability.

2.d. Sampling plan

The aim of this section is to draw an accurate sample that is representative of the

target population and is relevant to this study. It is important that the sample reflect

the characteristics of the population, therefore a sampling process that guides the

researcher from a general perspective to a more specific one, was used

(Zikmund&Babin, 2012:412). Firstly the target population needs to be defined

appropriately, for a sampling frame to be chosen. The third step in the sampling

process is to choose between a probable and non-probable sampling method, after

which the sampling design was chosen. The sample size was defined and the

sample units selected, which left only the fieldwork to be co-ordinated.

2.d.i. Target population

The target population refers to the total market in which the research's target market

is located. Due to the size of a population, there are very high financial- and time

costs associated with the research and therefore made use of a sample. The target

population is the group that the research would suggest using a sample. The sample

is the pool from which respondents were selected (Zikmund&Babin, 2010:412).

10

The target population for KFC's "Breakfast Twister" included South Africans of all

races (White, Black, Coloured and Indian) and genders (Men and Women) who visit

restaurants (fast food or sit in) for breakfast and are literate. The fieldworkers

ensured that no foreigners were included in this study and the target population's

characteristics were specifically identified for the purposes of the study. The study

was conducted in the Western Cape province of South Africa and the properties will

be analysed for supporting arguments.

Thedecision statement includes all persons dining in the population as a whole and

not just specifically KFC consumers. The reason for this is because the one focal

point is awareness."All KFC consumers” includeboth current and potential

consumers. The population is limited to those who are actively functioning in the

restaurant consumer market and by making this estimate, we ensure that the

necessary interest in the product itself, if not the brand itself is present.

2.d.ii. Research Frame

A sampling frame is the actual units from which a sample is drawn (Glossary of

statistical terms, 2012). It could be in the form of a phone book, a city's address

book, a list of businesses or database. However,no framework is perfect and will

always exclude someone, such as phone books with unlisted numbers.

The sampling frame consists of the people of all races who live in the Western Cape,

whose names the researchers did not have (Primary tables Western Cape, 2012).

Because a non-probability sampling method was used, it was not necessary to draw

a sample framework. Alternatively, if there was a list of all the consumers’ names, a

probability sampling method would have been used.

2.d.iii. Probable or non-probable

Several ways exist for a sample to be taken. The main alternative sampling plans

can be divided into two categories,using either probable techniques or non-probable

techniques (Zikmund&Babin, 2010:423). Non-probability techniques are oftenused

for sampling in marketingresearch. Non-probability samples are selected on the

basis of the researcher's personal judgment, geographical convenience, quota or

some non-random process (Nonprobability Sampling, 2006). The disadvantage of

this technique is that an unknown part of the whole population is not part of the

sample. This means that the sample may not be representative of the total

11

population. Thus, the results of the research cannot be used in generalizations with

respect to the entire population (Castillo, 2009). A probability sampling technique is

any method of sampling that makes use of some form of random selection. This

accompanies the drafting of a process to ensure that the various elements in the

population have an equal chance to be selected.

This research study made use of a non-probability sample technique, due to the fact

that there is no complete, up to date list available that is applicable to the study (that

is, South Africans of all races and genders that visit restaurants, fastfood or sit in, for

breakfast). To develop such a list is very cost-intensive and will be deemed

unnecessary. Thus secondary research was conducted to supplement the non-

probability sampling technique.

2.e. The design of a sample

The design of a sample involves any procedure that formulates conclusions based

on measurements on a proportion of a population. A sample is the subject of a study,

thus the chosen subgroup of a population. The sampling design are the techniques

used by researchers during a study and forms the plan from which the sample will be

drawn and respondents chosen (Zikmund&Babin, 2010:432).

Judgement sampling is a technique used by researchers when they use their own

prejudice to select units for the sample. Through the use of snowball sampling,

researchers identify respondents and ask them to refer the researchers to other

potential respondents (Zikmund&Babin, 2010:432). Snowball sampling was not an

effective method for this study, as respondents were only temporarily on the airport

and would not necessarily know anyone else in the area.

The quota sampling method uses parameters to select the sample to ensure that the

population is represented equally. According to Zikmund and Babin (2010:425) the

purpose of this method is that various sub groups of the population is represented to

the extent that the researchers desire. Hence, the quota may have one or more

characteristics for subgroups to which the fieldworker must adhere to (Castillo,

2009). Quota sampling is the most effective sampling method to use during this

study, for every fieldworker must comply with the requirements of the quota. This

involves many characteristics such as race, age or income (Zikmund&Babin,

2010:432). For this study the researchers decided that the respondents must have

12

been present in the Western Cape and make use of fast food restaurants, as well as

adhere to racial groups.

The mall-intercept method was used as it was the most effective manner in which

the fieldworkers could select the sample. This method entails that fieldworkers enter

a mall and ask anyone who is present at the mall for a response. In this study, the

Cape Town International airport was selected and the same method was applied, as

if it were a mall.

2.e.i. Sample size

The sample size is the number of units in a population to be studied. The sample

size must be large enough to indicate a clear difference between the two groups.

There were several trade-offs considered, mainly between size, cost and accuracy

and validity. The larger the sample, the lower the chance that mistakes occurs, thus

increasing the accuracy but also the cost of the study. The opposite is also true, thus

it is important that the level of tolerance for errors be determined beforehand

(Thomson, 2011).

This study possesses a high degree of tolerance when it comes to mistakes. Since it

is a relatively simple research design the sample will be kept to a minimum. These

two factors enable the study to be effectively performed with a relatively small

sample of 100 respondents. This size was realistic and achievable by the field

workers.

The province of the Western Cape has an estimated population of 5287863 people,

of which a calculated average of 336 400 are aged 15 and above. Demographically

the Western Cape population is classified as follows:

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Table 2.d.i

Western Cape Demographics

Percentage Total

Gender

Male 48.03% 1748801

Female 51.97% 1892258

Age

15-24 26.58% 967685.9

25-34 22.56% 821380.1

35-49 26.45% 963053

50+ 24.41% 888940.1

Race

Coloured 50.2% 1827221

Black 30.1% 1095604

White 18.4% 669738.3

Indian 1.3% 47318.47

Total WC population 3639882

(SAARF, 2012).

The sample size allowed for efficient quantification of the conducted research and

made it possible to accurately capture the demographic composition of the overall

population. Thus the fieldworkers were instructed to interview respondents based on

race in order to realise a sample demographic consistent with that of the Western

Cape. The choice of 100 participants allowed the researchers to allocate 50

questionnaires to coloured individuals, 30 to black individuals, 19 to white individuals

and 1 to indian individual.

2.e.ii. Selecting the sampling units

A representative sample was selected from the target population. Because of the

resources available for this study, the primary sampling unit is respondents who live

in the Western Cape Province. The Western Cape has the highest education level of

14

10.6% of persons over the age of 20. The latter increases the available population

for the study (Mid-yearpopulationestimates, 2011).

The geographical extent of the area is the secondary sampling unit, namely the area

of Cape Town. The tertiary sampling unit was Cape Town International Airport and

the target market between 15 and is 49 years.

The field workers were instructed to identify potential respondents at the airport.

These requirements for participation in the study were, firstly, that they fall between

the ages of 15 and 49. Field workers will therefore start with a screening question

where they ask the age of the individual and whether they live in the Western Cape,

determine whether the person qualified in respect of the proposed quota. One

hundred questionnaires were completed.

2.f. Data collection and Fieldwork

The intercept survey used a quota sampling method to ensure that the mix of survey

respondents is more likely to represent the important subgroups in the population.

These quotas were identified using external data,derived from SAARF AMPS

December 2011 LSM demographic data, that indicate what the actual distribution of

the total population looks like (SAARF, 2012).When quotas are used, interviewers

approach respondents who generally appear to fit the appropriate quota cell

requirements and may ask additional screening questions to determine whether the

respondent does in fact fit the criteria. The fieldworkers aimed to attain 13 coloured,

7 black, 4 white and 1 indian respondents each whilst verbally screening the

prospective participants based on age and nationality.

In an intercept study, it is essential to use well-trained interviewers. The

representativeness of the survey respondents can be increased if interviewers are

trained to approach a variety of potential respondents, not simply those who look

friendly or most approachable. Additionally, interviewers must be carefully trained to

approach all respondents in a consistent fashion so that the interviews are of a

uniform nature (Butler, 2012).

Four fieldworkers were used to collect the data of a hundred questionnaires. The

researchers themselves acted as the operating fieldworkers and each received 25

questionnaires to complete. The data was collected at the Cape Town International

15

Airport because a broad selection of respondents could be found at this one central

location. The researchers also assumed that people who would be found at the

airport would have the means to be able to patronize a fast food restaurant and thus

form part of the target population.

All the fieldworkers were dressed uniformly and appeared neatly groomed.

Fieldworkers were instructed to approach a potential respondent and ask if they

were willing to complete a short questionnaire about product satisfaction.

Within the ambit of the Marketing Management 344 course, the fieldworkers received

sufficient theoretical training with regards to conducting coherent primary research

by means of questionnaire based data collection.

The fieldworkers were trained in the aspects that are of most importance in

fieldwork. Firstly, the initial contact with the respondent was discussed, then

recording the responses correctly. Thirdly they were educated on how to probe in

cases where respondents were reluctant to answer and lastly they were educated in

terminating the interview. Thanking the respondent for their time and closing the

discussion is important and should end on a positive note (Zikmund&Babin,

2010:473).

2.g. Analysis

Analysis is the detail examination of elements or structures of a phenomenon

(Analysis, 2012). The three types of statistical analyses are univariate, bivariate and

multivariate, that test the hypotheses of a study. Bivariate statistical analysis involves

drawing inferences about two variables (Zikmund&Babin, 2010:538). Many tests can

be done to analyse data, such as a Chi-square test, t-Test or Pearson correlation.

Independent samples t-Tests are used to test the difference between means for

interval- or ratio-scaled variables, taken from two independent samples

(Zikmund&Babin, 2010:565). A Chi-square, also known as Cross-Tabulation, is done

on categorical variables in a data set by comparing the observed frequencies with

the expected frequencies in each cell of the table (Zikmund&Babin, 2010:561). The

general alpha level (p) is 0.05 and determines if the H0 is rejected, or not. If p <

alpha, reject H0, whilst if p > alpha, the researcher does not reject the H1. The

decision to reject, or not reject a hypothesis is done at a confidence level of 95

percent.

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Pearson correlation (r) is a technique for investigating the relationship between two

quantitative, continues variables such as age and measures the strength of the

association between the two variables (Pearson's Correlation Coefficient, r,

2007).Probability (p) is the long-run relative frequency with which an event will occur

(Zikmund&Babin, 2010:442). P-values are the probability values that are compared

at significance levels to test hypotheses. The lower the P-value, the more variables

are related to one another, and that means are different (Zikmund&Babin, 2010:541).

Analysis of variance (ANOVA) is used when means of more than two groups or

populations are to be compared. Only one independent variable is involved and

examines the effect of a less-than interval independent variable on an at-least

interval dependent variable. An independent samples t-test is seen as a special case

of ANOVA, because the independent variable has two levels (Zikmund&Babin,

2010:573).

3. Results:

3.a. Realised sample:

The primary data collected on the sample population is consistent with the

demographic composition of the Western Cape. The graphs and tables below clearly

show how, given relative congruency due to the size of the sample in relation to the

total population, the researchers successfully acquired a representative sample of

the Western Cape population in terms of gender, race and age as seen in Table

2.d.i. Please note that all relevant demographic comparisons will be drawn from this

table and it has been reproduced below for convenience purposes.

Table 2.d.i

17

Western Cape DemographicsPercentage Total

GenderMale 48.03% 1748801Female 51.97% 1892258Age15-24 26.58% 967685.925-34 22.56% 821380.135-49 26.45% 96305350+ 24.41% 888940.1RaceColoured 50.2% 1827221Black 30.1% 1095604White 18.4% 669738.3Indian 1.3% 47318.47Total WC population 3639882

Figure 3.a.i below indicates that 55% of the respondents were female and that 45%

were male. The December 2011 AMPS data shows that 51.97% of the Western

Cape population is female and that 48.03 are female.

In Figure 3.a.ii below one can find the frequency of participants segmented

according to each applicable race group. Noting that the Western Cape consists of

50.2% coloured, 30.1% black, 18.4% white and 1.3% indian individuals aged 15 and

45%

55%

Figure 3.a.i GenderMale FemaleQuestion 24

18

above, the study successfully recorded a representative sample that does not

deviate more than 3% from the empirical evidence.

Figure 3.a.iii graphically represents the proportion of the sample population relative

to their age groups. As the sample size consists of 100 participants it is clear that

95% of the population lies between 15 and 49 years of age. This is less consistent

with the provincial demographic situation for which the same bracket only consists of

75.59% of the population. The data is still applicable as this study is based on KFC’s

slow moving products and their target market is made up of 15-45 year old LSM 4-10

category (Serving the world, 2011).

White Coloured Black Indian Other

22

40

31

4 3

Figure 3.a.ii Race groupsQuestion 27

19

The reason for the inclusion of participant income in this study is to assist the

researchers in classifying the participants according to their relevant LSM.73% of

KFC South Africa’s customers lie within the LSM 2-8 categories and the pie chart

below, figure 3.a.iv, shows that 94% of the participants are situated in the LSM 2-8

category (Serving the world, 2011). Note that according to SAARF (2012), there are

no recorded LSM 1 individuals.

3.b. Descriptive data:

Research was conducted in order to determine the frequency levels of fast food

consumption within the representative sample population. This was done as a

screening function in order to evaluate the suitability of said population with respect

to the stated research objectives.

To measure the construct brand loyalty, the researchers used indexes of the

responses on questions 17 and 18, to create a ratio rating of the respondents’ loyalty

to KFC.

42%

33%

20%

6%

Figure 3.a.iv Participant IncomeLSM 1-4 LSM 5-6 LSM 7-8 LSM 9-10

0-14 15-24 25-34 35-49 50+

Series1 1 37 28 29 4

2.5

7.5

12.5

17.5

22.5

27.5

32.5

37.5

Figure 3.a.iii Frequency of sample popula-tion relative to different age groups

Age

in y

ears

Question 28

20

63%

23%

14%

Figure 3.b. Loyalty to KFC breakfastNOT LOYAL SOMEWHAT LOYAL VERY LOYAL

Question 17 tested if consumers will still be willing to buy if product prices increased

by 10% and correlated it with (question 18) the respondents’ choice of fast-food

restaurant if all offered the same breakfast. A rating of 1 was counted as not loyal, a

rating of 2-3 was counted as somewhat loyal, and a rating of 5 was counted as very

loyal to KFC breakfast offerings.

Figure 4.b.i indicates the number of respondents who consume foods at fast food

restaurants.

Yes NoQuestion 2

100

0

Figure 3.b.i Do respondents eat fast foods?

Given that 100% of the sample population do in fact consume fast food, it is thus

apparent that the selected sample is well suited to the relevant industry analysed in

this research report.

Respondents were asked what time of the day they normally visit a fast-food

restaurant to determine when fast-food restaurants sell the most of their products.

Figure 3.b.ii shows that the majority of the participants visit fast-food restaurants

21

between the hours of 12:00 and 14:00 in the afternoon. This suggests that most

people see only the products available between those times and mostly purchase

only the products that they are made aware of, at that time. KFC only offers their

breakfast products from 06:00 to 10:30 and also advertises them at those times

alone. The breakfast menu is then replaced by the products that are sold all day and

no point-of-purchase material is kept available to create awareness of the breakfast

menu’s existence.

24%

43%

26%

2% 5%

Figure 3.b.ii Times restaurants vis-ited

06:00-10:30 12:00-14:00 18:00-20:00 Do not visit Other

As can be seen in the following figure 3.b.iii five participants are not aware that KFC

offers a breakfast option at all and nineteen respondents are not sure about the

breakfast offering. Although seventy three respondents were aware that KFC offers a

breakfast menu, more can be done to inform customers of the breakfast option.

When the researchers determined the mean value (coding number 5) for question

20, they discovered that most respondents have not bought any item of the KFC

a.m. breakfast. This is not a positive finding for it states that the current marketing

strategy of KFC is not effective.

Question 4

22

Yes No Don't know

74

5

19

Figure 3.b.iii Aware of KFC breakfast menu

Research was also done to identify how customers form associations about KFC.

Multiple options were provided to respondents in the questionnaire. The options

given to respondents consisted of forming an association through a) purchase

interaction with KFC b) advertisements c) friends, family and other people d) not

sure. Figure 3.b.iv indicates that the majority of respondents form the association

they have with KFC through purchase interaction with KFC. This indication also

supports the above statement that more can be done to create awareness for KFC. If

most of the respondents form their associations through purchase interactions

(Figure 3.b.iv) and the majority of the respondents visit KFC at times other than

when breakfast is served (Figure 3.b.ii) the chance that respondents may learn to

associate KFC with a breakfast option is very low. If the respondents do not

associate KFC as a potential provider of breakfast, respondents will not be likely to

consider KFC as place where breakfast can be bought.

Purchase interac-tion

Advertisements Friends,family Not sure

65

42

26

8

Figure 3.b.iv How associations are formed about KFC

Question 9

Question 10

23

Further, advertisements ranked second on how association, concerning KFC, are

formed. As previously mentioned KFC removes most of their in-store breakfast

advertisements after 10:30am and replaces it with other product offerings.

Strongly Disagree

Disagree Neutral Agree Strongly Agree

7 6

15

31

38Figure 3.b.v Breakfast is important

Research was conducted in order to determine if breakfast is important to

respondents. Through the use of a Likert scale it was indicated that 31 respondents

agree and 38 respondents strongly agree that breakfast is important to them (Figure

3.b.v.). The majority thus stated that eating breakfast is important. Concurrently,

Figure 3.b.vi below, shows that 42 respondents agree and 24 respondents strongly

agree that they prefer to eat breakfast at home. This could in turn indicate that most

of the respondents prefer to eat breakfast at home rather than at a fast food

restaurant.

Strongly Disagree

Disagree Neutral Agree Strongly Agree

3 5

21

42

24

Figure 3.b.vi Preferrence to eat breakfast at home

When evaluating the a.m. mini twister, the researchers found a negative

relationship between the associations of customers with regards to the product

Question 6 A

Question 6 B

24

and its suitability for a breakfast meal. Exactly 50% of the respondents were

found to hold a negative association between wraps and breakfast.

Low Below average Neutral Agree Strongly Agree

30

2024

8

2

Figure 3.b.vii Association of wrap with breakfast

The remainder of the data correlates with the abovementioned results in terms of

associations, usage, and awareness.

3.c. Inferential Data

Determine if there is a relationship between usage and loyalty.

Highly unlikely Unlikely Neutral Likely Most likely0

5

10

15

20

25

20

1614

20

6

Figure 3.c.i Likelyhood to buy a.m. KFC TwisterQuestion 21 B

Question 7 C

25

When the construct, loyalty and the variable, usage were correlated, the researchers

identified that there was a positive, but weak relationship between the two. The HA1

will not be rejected as there is a relationship between usage and loyalty (r=0.290,

p=0.003). The HA0 was rejected. Through the use of Pearson Correlation, this can be

said at a level of 95% certainty. This means that there is a relationship between

usage and loyalty to the extent that if usage increases, loyalty increases as well.

Thus, implying that respondents, who buy a product and are satisfied, will buy again

in future and ultimately become loyal to the service provider, as in this study, KFC.

Determine if loyalty is impacted by associations.

Refer to Figure 3.b: According to the results of Question 21B and through the use of

Pearson Correlation, at a certainty level of 95%, the researchers found there was a

very weak positive relationship between association for an a.m. mini twister for

moderate to strong loyalty (r=0.196, p=0.316). This is not very significant. The total

association for Question 21 determines there is no relationship between associations

and loyalty. Thus, the HB0was not rejected whilst the HB1 was rejected.

Question 18Mc Donald's

36%

KFC23%

Steers25%

Other7%

None8%

Figure 3.c.ii Preferred fast-food res-taurant for eating breakfast

26

Determine if loyalty is affected by awareness.

Yes No (blank)0

10

20

30

40

50

60

70

80

Figure 3.c.iii Chi-Square test: Awareness of KFC breakfast menu

The researchers applied a Chi-square test to Question 19 to determine whether

respondents are aware that KFC has a breakfast menu. The respondents who

answered “I don’t know” were counted as a “No” answer, because it ultimately

means that they are not aware that they have the breakfast menu.

Through this test, the researchers identified that respondents are aware that KFC

has a breakfast menu. Through Pearson Correlation, at a certainty level of 95% the

researchers determined that the HC0 has not been rejected, as the HC1 was rejected

(r=0.348, p=0.069). This means that there is no relationship between the variable

awareness and the construct loyalty. The units of the sample are aware that KFC

has a breakfast menu, but do not see KFC as a first choice when buying breakfast

and is therefore not loyal to KFC.

Question 19

27

4. Limitations of the Study

Although this research was carefully prepared, the researcher is still aware of its

limitations and shortcomings.

First of all, because of the time limit the sample of the surveyed group is small only a

hundred respondents were included and might not represent the majority of the

target population.

The researchers assumed that the variables under investigation are measurable and

the instrument being used is a valid and reliable instrument to measure those

variables. The measure instrument used in this study was a self-administered

questionnaire. It was limited by its reliability and validity. An instrument is reliable if it

will give the same measurement every time when measuring the same construct and

is valid if the actual construct at hand is indeed being measured. The measure

instrument has a low reliability because of answer variation that may occur if a

respondent had to fill in the same questionnaire again (Zikmund&Babin, 2010:337).

In order for a study to be valid, the participants must be representative of the

population and must be willing to participate in the study. The participants must

respond to questions honestly or participate without biasing the study results. The

participants should not behave differently than they would were they not part of this

research study.

Respondents were also confused by some of our questions (question 9) and in turn

marked the wrong tick box leaving the researchers with inaccurate data which could

not be used.

The respondent in the study were chosen through a non-probable sampling method

and suggests that the participants likely do not represent the population. In addition,

the results of the study are limited by the honesty of the participants, or their

nonbiased participation. Respondent bias occurs when respondents change their

behaviour because they know they are participating in a study (Zikmund&Babin,

2010:194).

28

There are limitations on the analyses used in the study. The results of the study are

limited by the ability of the statistical procedure selected to find statistical

significance. The analysis must be appropriate to address the research question,

and the test must have sufficient power to detect a significance relationship if they

exist in the population.The researchers lack of knowledge of SPSS software

5. Conclusion and Recommendations

Understanding what drives satisfaction among customers is a huge opportunity for

fast-food retailers. Knowing how to maximize the positive effects of those

components that satisfaction consists of can lead to considerable returns in terms of

increased satisfaction.

The components used for this study comprised of product usage, association and

awareness and were measured to find their impact on loyalty. The results found that

there is a relationship between usage and loyalty. If usage were to increases, loyalty

would increases as well,thus suggesting that respondents, who buy products and are

satisfied, will buy again in future. This satisfaction arises from the customer

comparing their expected experience with their actual experience and would lead to

repeat purchasing and usage of the product. Association was also tested to

determine the influence on loyalty. There was found that association does not have a

significant effect on customer loyalty. Thus the degree, to which the brand is

associated with the product category of breakfast, does not have a positive nor

negative affect on how loyal customers are.

Product awareness was also investigated to find the impact it has on loyalty of

consumers. When introducing a new product to the market, one of the hurdles that

must be overcome is lack of consumer awareness. Initially, no one knows about the

new product offering. Once you increase the amount of awareness about the

product, sales may start to increase as a result. Regardless of how good a product

is, it will not help if customers are unaware of it. Through the use of correlation (r)

researchers found that awareness does have a positive yet weak relationship with

loyalty yet the relationship is too small to indicate any significant effect on loyalty.

By measuring customer satisfaction with regards to these components of the

shopping experience, retailers can gain an in-depth understanding of their

29

customers’ likes and dislikes in order to better focus on meeting their needs and

exceeding their expectations

Taking the above results and conclusions into account, it would greatly benefit KFC if

it kept the breakfast advertisements displayed throughout the day and did not

remove it, as more people could be made aware of the breakfast option. This greater

awareness could then in turn lead to a higher level of associating KFC with a

potential breakfast provider.

It is also recommended that KFC improve how customers associate it with breakfast.

KFC is not positively associated with breakfast, as is shown by 50% of respondents

indicating that they do not associate the a.m. Mini Twister (one of KFC’s flagship

breakfast offerings) with breakfast. This could be changed by amending the

breakfast offering. By offering more traditional breakfast items (such as bacon and

eggs) it could build up an association and ultimately move further into this market. As

KFC has already created the image of offering ‘home-styled’ sides such as coleslaw

and mash and gravy, focusing on this established association with regards to

breakfast to greatly benefit KFC. An overwhelming majority of respondents indicated

that breakfast is important to them; this shows KFC that there is clearly a market to

be exploited.

30

6. References

About Us. 2012. [Online]. Available:http://www.kfc.com/about/.[2012, September 26].

Analysis. 2012. [Online]. Available:

http://oxforddictionaries.com/definition/english/analysis [2012, September 26].

Brown, S.P. & Hoyer, W.D. 1990.Effects of Brand Awareness on Choice for a

Common, Repeat-Purchase Product.Journal of Consumer Research.17(2): 141-148

Butler, S. 2012. Mall Intercept Survey.[Online]. Available:

http://srmo.sagepub.com/view/ encyclopedia-of-survey-research-methods/n284.xml

[2012, September 26].

Castillo, J.J. 2009.Research Population.[Online]. Available: http://www.experiment-

resources.com/research-population.html [2012, September 26].

Chen, A. C. 2001. Using Free Association to Examine the Relationship between the

Characteristics of Brand Associations and Brand Equity.Journal of Product & Brand

Management.10(7): 439-451

Clarke, R. C., Doraszelski, U., Draganska, M. 2009. The Effect of Advertising on

Brand Awareness and Perceived Quality: An Empirical Investigation using Panel

Data [online]. Available:

http://facultygsb.stanford.edu/draganska/documents/AnEmpiricalInvestigationoftheEf

fectofAdvertising.pdf [2012, September 27].

Glossary of statistical terms. 2012. [Online]. Available:

http://www.statistics,com/index.php?page=glossary&termid=851 [2012, September

16].

Hoyer, W. D. 1984.An Examination of Consumer Decision Making for a Common

Repeat Purchase Product.Journal of Consumer Research.11(3): 822-829

Jacoby, J. &Kyner, D.B. 1973.Brand Loyalty vs. Repeat Purchasing Behavior.

Journal of Marketing Research.10(1): 1-9

Jones Combs, L. & Swan, J.E. 1976.Product Performance and Consumer

Satisfaction: A New Concept. Journal of Marketing. 40(2): 25-33

31

Kempf, D. S. & Smith, R. E. 1998. Consumer Processing of Product Trial and the

Influence of Prior Advertising: A Structural Modelling Approach. Journal of Marketing

Research.35(3): 325-338

Mouton, J. 2001.How to Succeed in Your Master’s and Doctoral Studies.Pretoria:

Van Schaik Publishers

My marketing research methods. 2011. [Online]. Available:

http://www.mymarketresearchmethods.com/descriptive-inferential-statistics-

difference/ [2012, September 26].

Mid-year population estimates. 2011. [Online]. Available:

http://www.statssa.gov.za/publications/P0302/P03022011.pdf [2012, September 25].

NonProbability Sampling. 2006. [Online]. Available:

http://www.socialresearchmethods.net/kb/sampnon.php [2012, September 23].

Pearson's Correlation Coefficient, r. 2007.[Online]. Available:

http://hsc.uwe.ac.uk/dataanalysis/quantinfasspear.asp [2012, September 26].

Primary tables Western Cape.2005 Report.[Online]. Available:

http://www.statssa.gov.za/census01/html/WCPrimary.pdf [2012, September 25].

SAARF.2012. [Online]. Available:http://www.saarf.co.za/lsm-demographics/LSM

%20Demographics%20Table%20AMPS%20Jan%20-%20Dec%2010.pdf [2012,

September 26].

Serving the world. 2011. [Online].

Available:http://www.yum.com/annualreport/pdf/2011_AR.pdf [2012, September 26].

Thomson, S.B. (2011). Sample Size and Grounded Theory. JOAAG, Vol.5. No.1

Zikmund, W.G. & Babin, B.J. 2010. Exploring Marketing Research, 10th

Edition.China: Cengage Learning.

32

7. Annexures

Declaration of Group Member Contribution

This declaration serves to state that all group members have contributed towards

this project. Below is a tabular presentation of the percentage contribution of each

group member as agreed upon by all members.

Initials Surname%

ContributionSignature

33

Plagiarism Declaration:

1. Ons weet dat indien ons iemand anders se idees gebruik en voorgee dat dit ons s’n is, dit dan neerkom op plagiaat. Ons is bewus van die potensiële strafmaatreëls vir hierdie oortreding. / We knowthatusinganotherperson’sideasandpretendingthatit is one’sownconstituteplagiarism. We are aware of thepotentialpenaltiesforthismisdemeanour.

2. Ons het die Harvard metode vir aanhalings en verwysings gebruik. Elke substansiële bydrae tot, en aanhaling in hierdie opstel/opdrag/projek uit die werk of werke deur ander persone het volledige erkenning ontvang by wyse van aanhalings of verwysings in sowel die teks as bibliografie. / We haveusedtheHarvard-methodforcitationandreferencing. Eachsignificantcontributionto, andquotation in, this essay fromthework, orworks, of otherpeoplehas been acknowledgedthroughcitationandreference in thetextandbibliography.

3. Hierdie is ons eie werk. / This is ourownwork.

4. Ons het nie toegelaat nie, sal ook nie toelaat nie, dat enigeen ons werk kan kopieer met die doel om voor te gee dat dit hulle eie werk is nie. / We havenotallowed, andwillnotallow, anyonetocopyourworkwiththeintention of passing itoff as theirownwork.

Handtekening / Signature.................................................... Datum / Date...............................

Handtekening / Signature.................................................... Datum / Date...............................

Handtekening / Signature.................................................... Datum / Date................................

Handtekening / Signature.................................................... Datum / Date................................

Verklaring van eie werk / Declaration of ownwork:

1. Ons het deur die projek gelees om spelfoute en taalfoute uit te skakel om sodoende die professionaliteit van die dokument te verhoog. / We havereadthroughtheprojecttoeliminate spelling errorsandgrammarerrorstoincreasetheprofesionalism of thedocument.

2. Hierdie projek is ons eie werk. / Thisproject is ourownwork.

Handtekening / Signature.................................................... Datum / Date................................

Handtekening / Signature.................................................... Datum / Date................................

Handtekening / Signature.................................................... Datum / Date................................

Handtekening / Signature.................................................... Datum / Date................................

34

MARKETING 344

Research Project Assessment Sheet

Name:

Mark summary

1. Abstract 5

2. Introduction- background / literature review

- purpose of study

- objectives

10

10

5

3. Methodology 25

4. Results 15

5. Conclusion and recommendations 10

6. Bibliography 5

7. Technical presentation- title page, table of contents, spelling, in-text referencing, etc. 15

Total 100

General comments

35

Questionnaire Copy

36

37

Calculations Table

Tota

l:1

23

45

67

89

10To

tat S

A Po

pula

tion

6610

0017

9300

021

1700

042

4800

060

8000

078

2800

040

1400

029

2100

030

9300

021

7700

034

9320

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Mal

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.142

.146

.548

.647

.748

.848

.450

.248

.752

.248

.03

Fem

ale

52.9

57.9

53.5

51.4

52.3

51.2

51.6

49.8

51.3

47.8

51.9

7Ag

e SA

%15

-24

25.5

31.4

31.5

30.3

3028

25.6

27.1

23.7

25.9

27.9

25-3

415

.617

2423

.523

.626

21.6

2220

.617

.321

.12

35-4

922

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.421

.822

.825

.324

.528

.225

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.06

50+

36.2

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22.7

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21.6

24.6

2528

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.825

.94

Age

15-2

416

8555

5630

0266

6855

1287

144

1824

000

2191

840

1027

584

7915

9173

3041

5638

4398

1745

525

-34

1031

1630

4810

5080

8099

8280

1434

880

2035

280

8670

2464

2620

6371

5837

6621

7907

869

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915

0047

3837

0246

1506

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1786

011

3194

875

6539

8320

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7047

8817

450

50+

2392

8254

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4805

5999

4032

1282

880

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1793

1693

693

456

2310

4095

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6457

8358

6340

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2054

3639

882

Age

WC

% o

f WC

15-2

40

563.

002

5334

.84

2831

7.17

6931

226

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511.

9996

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-34

030

4.81

4064

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2196

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5.44

2483

04.2

1959

47.4

1272

38.8

1306

17.4

3841

5.34

8213

80.1

22.5

5882

35-4

90

383.

702

3692

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2130

7.97

5845

3.12

2339

78.9

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94.7

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63.5

6905

8.79

9630

5326

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850

+0

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486

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2186

8.7

4874

9.44

2062

83.5

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62.3

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9.93

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3641

059

LSM

Gro

up