Jollibee in Korea? Why? or Why not! (Last Part)

This is the continuation of my previous article.

Here are the following topics or highlights this article;

• SWOT Analysis

  • Strengths

  • Weaknesses

  • Opportunities

  • Threats

• 4P's of Marketing Mix Place

  • Place

  • Price

  • Promotion

STRENGTHS

• Convenient location and open for 24 hours

Jollibee Korea will open 24 hours to serve its customers. And we will position Jollibee Korea in a convenient location  nearby to our target consumers' workplace and along the road that is accessible not only for consumers but also for distribution processes.

• Large variety of menu

Jollibee Korea offers large variety of delicious delicacies for consumers to have different options in terms of picking their meals. And also to satisfy their wants and needs.

• Budget friendly

Jollibee is known for making product that is affordable to their customers budget. To attract more customers and for them to go back again not only because of the food tasting but also because they can afford to eat at Jollibee.

• Tasty and Quality food

Jollibee Korea will make sure that we provide a tasty food to our customers. And not only giving good and tasty food but also giving them assurance of a quality products and services.

WEAKNESSES

• Fast food are not preferred by many

The food products of some fastfood restaurants are high-priced that cannot be afford by many people. This is a big hindrance for many middle-class people to get their products.

• Fast food considered as unhealthy food

Jollibee food products are often fried, process and high in sodium that’s why customers considered fast food as unhealthy, and eating fast food regularly may cause serious bad health issues that will affect their Consumer behavior.

•Healthy eating is a new trend

Most of consumers now are health conscious because of pandemic that's why eating on a fast food restaurant might not become their options.

OPPORTUNITIES

•Innovative products

Jollibee always innovate their products to adapt the consumers culture and taste. Becoming more sensitive in terms of their do's and don'ts.

•Increasing Market Revenue

Jollibee Foods Corporation is still in business because of their good strategy in maintaining their profitability income. Increasing the market revenue is one of the goals of every businesses.

•Increasing Job Opportunities

When Jollibee start launching on Seoul, South Korea more job opportunities might come. Jollibee will provide orientation and trainings for new employees. That will serve customers good services.

THREATS

• Rising of different competitors

Business world is full of competition specially in Food industry. Because it was one of man's basic needs. Businesses must become more strategic.

•Consumers look for a healthier lifestyle
Once this healthier living become consistent fast food restaurants mights decreased revenues and might loss.

•Pandemic

Everyone is afraid of this COVID 19 Virus so customers are become more sensitive in purchasing products and eating everywhere. Most of restaurants have to follow protocols that results to low profit every day.

4P's of Marketing Mix

•Place

As the next destination of Jollibee for its expansion is Seoul which is the capital of SOUTH KOREA where in most of Korean people live here because it is the cultural, economic and political centre of the country.

So we chose Myeongdong as the particular place to open the branch of Jollibee where in it is the most popular tourist shopping destination in Seoul, South Korea. The area is known for its historically significant sited namely Myeongdong Cathedral which is the main Catholic Church in Korea and it has a huge number of visitors. The Myeongdong Nanta Theater which is the most popular show in Korea. Myeongdong is the best location for starting a business.

•Promotion

• Business or Employment Opportunities

  The branch of Jollibee in Seoul will offer a job whether it is Filipino or Korean people to be part of the team. It is good opportunity also in creating a cross cultural learning experience for both local and foreign employees.

• Good Ambiance

  Is very important because it is a key to getting the customers to keep coming back at the place of the business. As the Jollibee known for having a highest standards of food quality, services and cleanliness. As we can see in the background here, it shows a good lightning , a clean and wide space for the customers and also the table setting are well organized.

• Technology Advantage

  Since, South Korea is also among the world's most technologically advanced and digitally connected countries. We are planning to have this set up of payment with a self ordering kiosk wherein customers can browse the menu, place their order and pay easily as part of technological innovation and at the same time self ordering kiosk play a big role during this pandemic.

•Pricing

We will use Competitor-based pricing. Where in the product will be prices with the “going rate”or in line with the prices charged by direct competitors. This is a  great first step in finding the best possible price for the product and services offered.

Like in the price of our chicken joy korean soy garlic and original chicken joy with kimchi fried rice is based from Lotteria's chicken meal in Korea ranges from 3,300 KRW up to 18, 000 KRW.  For our kimchi fried rice with chicken joy and tofu on top will be price as  KRW 3,000.  Kimchi fried rice with chicken joy and egg is worth KRW 2, 100 and kimchi fried rice with chicken joy and bibimbap on top is only KRW 2500. So we also ended up pricing our Bingsoo Halo halo worth KRW 3,100 and  our breakfast meal kimchi pancake with coffee for only  KRW 3,200 the same as of our direct competitors pricing strategy to keep the company as a competitive one.

Although we use competitors based pricing, the quality of our offered product would be the best among our competitors.

Thanks for Reading!

One day, If I will visit Korea and I’ll see Jollibee probably there and I might just smile and remember this challenge!

Kamsahamnida! 🇰🇷

Image Source: I created using Canva

# 19
: Monday
: August 29, 2022
: Re-joyce