The Philippine – based multinational fast food chain ‘Jollibee Food Corporation’ popularly known as JFC or Jollibee is a fine example of how to go about selling your products in a market that is fierce and highly competitive.
To compete with mega food chain corporations such as McDonald’s and KFC would require massive investments and strong market penetration. In 1975, when Tony Tan Caktiong started his ice-cream parlour he had none of these privileges. To an extent JFC’s success could be credited to its blend of native culinary with a mix of oversea flavours, giving consumers a choice to select items that provide a combination of the west and the east. While JFC’s chicken fries brings the essence of western fast-food delights, its fried rice and steamed noodles hit diners with an Asiatic gourmet spirit.
How to Sustain the Pressure
On a broader sense, a company to grow, takes a lot of efforts and strive, but to maintain that growth is a bigger challenge altogether. JFC’s sustenance in the Philippines when McDonald’s first entered the country in 1981 shows the company’s persistent pliability to adopt according to market altercations. Along with a starling menu, the Filipino food corporation giant also seems to have rolled out a well-structured market strategy. Over the past two decades, its vehement investments in the fast food business in Philippines itself have earned it a great deal of success. One of the notable tactics of the company is its extensive acquisitions and investments activities in the market over the past few years. JFC’s acquisition of brands such as Red Ribbon, Chowking, Burger King Philippines, Greenwich Pizza, and Mang Inasal has helped it gain more business in recent times. Of late, the company’s primary objective has been to expand worldwide and with over 3,000 active outlets it is well on track to rank amongst leading restaurant brand in the world.
Jollibee Remains Immune to Volatility in the Global Food and Beverage Sector
While many of the global restaurant brands struggle to deal with the ongoing depression in several fragments of the F&B sector, Jollibee has so far successfully avoided any negative market implications that could hamper its surging spirit. Moreover, the expatriate Filipino community settled across the globe has been a key target customer for its offshore outlets. Jollibee is taking F&B industry by a storm, a lower pricing point for most its product has been an impressive manifesto and is giving stiff competition to McDonald’s, which in recent times has introduced food segments at a competitive price range particularly to capture price-sensitive markets In Asia, South America and the Middle East and Africa (MEA).
Jollibee Dreams of Robust Expansion
Last year, the company opened its first outlet in Canada, which shows its zest to compete on a global level and challenge its rivals for a greater market share. The company plans to open few more restaurants in Canada by the end of 2017. The Middle East has been a key business prospect for the company as well, its plans to open 25-30 stores in the UAE by 2020 shows Jollibee’s growing interest in the region. The company recently opened its second branch in Abu Dhabi in line with its long-term plan to expand globally. Besides such major launches, Jollibee’s continues to gain further ground in the South East Asia, for instance, the fast food giant has come to an agreement to make Superfoods Group, which is partly owned JSF Investments Pte. Ltd a publicly traded company on the Vietnam Stock Exchange as a part of its business strategy in Vietnam.