Please boost your Plan to download papers
Market analysis of Jollibee Fast Food Restaurant - Essay Example
This paper analyzes how Jollibee Company has become one of the finest fast food restaurants of Philippines. Its unique marketing strategy devised by the owner will be discussed. In this paper, you will also find the environmental analysis of the company, Its current market trend and position, target customers, competitor analysis and international expansion plans…
The company “Jollibee” was introduced in the year 1975 by five Chinese Filipino brothers known as the Tan Caktiong family. Initially, they opened a two branch ice-cream parlour (Thompson and Martin, 2005) which later developed into a fast food restaurant offering unique Filipino cuisine. Soon, the company emerged to be one of the most successful business food chains in Philippines. In 1981, Jollibee had established 11 stores in Manila whereas McDonald’s had just opened one store (Hill and Jain, 2011). By 2003, it had opened 467 stores in Manila and had earned a market share of more than 50% and revenue of $500 millions. It had surpassed the revenues of McDonalds in 2003 (Hill and Jain, 2011).
The key strategies followed by Jollibee Company were as follows:
It offered American fast food but kept the Filipino cuisine in mind. For example, it served Asian style hamburgers and the pastas tasted like ‘Chinese Chowmein’. Desserts offered were of unique flavours like Peach Mango Pie and Banana Langka. They kept the local consumers’ taste and preference in mind (Thompson and Martin, 2005)
They studied the operation system and marketing strategies devised by McDonald’s very closely. Jollibee offered the same range of products but with a difference in taste, so that it would set them apart from its competitor (Hill and Jain, 2011).
Prices of food products were kept lower than that of McDonald’s (Hill and Jain, 2011). ...