The sample paper on Mang Inasal Marketing Strategy familiarizes the reader with the topic-related facts, theories, and approaches. Scroll down to read the entire paper.
MARKET ANALYSIS INDUSTRY: -Binalot belongs to the restaurant sector. It is comprised of fine dining restaurants, fast food chains, canteens, foodcourts and other establishments which serves food and drinks whether it is self or semi service. -Franchising fast food chains is growing in the Philippines. More and more Filipinos are gearing towards food franchising because of the love for food of the Pinoys.
-For 2007-2008 Food franchisin dominated the other franchising business such as Retail, services, training and education and others. Figure 1.
Philippine Franchises by Category, 2007-2008 Source:PFA Food Franchising has been increasing since 1995 according to the table provided below. Table 2. Number of Franchises, Food and Non-food, 1995 – 2008 YearFoodNon-foodTOTAL 19957833111 19968997186 1997118133250 1998207235442 1999203305508 2000-2001290418708 2002-2004391459850 2007-20084255751000 There are a lot of Franchise Businesses that one could enter into. There are foreign businesses and as well as homegrown ones. The leading franchise businesses are Jollibee, Mcdonalds, KFC, Julie’s and many more.
CUSTOMERS: -Individual customer demographics The target customers of Binalot are the average Filipino who loves eating native cuisines. They cater to a wide market such as the working class and young professionals who are always on the go, families, students and many more individuals who want to take pleasure in Filipino food. Different people with varying ages eat at Binalot. The concept of Binalot brings its customers back to the way our ancestors ate their food which is laid down in banana leaves and soup is poured in palayok.
The menu consists of favorite Pinoy foods from breakfast, lunch, merienda and dinner such as Adobo, Tapa, Sinigang, Bistek, Banana que, Leche flan and many more. Meal prices range from as low as 40 pesos to 100 pesos and snacks costs as low as 10 pesos. The food is truly affordable and every Filipino consumer could have a taste of our own cuisine without costing them too much. -Business customer demographics Binalot now has 37 branches throughout Manila, Subic and Bulacan area all of which are in the Luzon Area.
The branches are located in urban or metropolitan areas where people from all walks of life could come and dine in. Binalot branches are very accessible. The management sees to it that the Binalot sites are in busy places. The customers enjoy the Festive ambiance of its branches with 94 employees all in all. These employees attend to the needs of their customers with a smile on their faces. COMPETITION: Why your company is superior? -The company is superior due to its combination of food which Filipinos truly love.
It is also the first who introduced the ‘absentee’ franchisee which means that the overall supervision of the business will be held by an appointed manager by Binalot. This will help the franchisee in managing the business while maintaining their regular day jobs. The packaging also is very unique and it is the only fast food chain who utilizes banana leaves. It embraces the Filipino tradition which could be seen in their food, store and even packaging. No wonder this company is fast growing and many more people are interested in franchising binalot. Trends in competitive companies Binalot’s major competitors are Mang Inasal, Reyes Barbeque and Goto King. All of these restaurants have the same target market which is the average Filipino. Since Pinoys are very economical and values their money the trend in most restaurants is to provide a set of meals which are very affordable but the serving is quite little. In Binalot they have the promo Adobonanza with prices of 40 pesos for the Tipidobo and 60 pesos for both Longgadobo and Tocidobo. Similar and dissimilar: Binalot, Mang Inasal, Reyes Barbeque and Goto King cater to the same market which is the lower to middle class Filipino people.
They also have the same concept of serving favorite Filipino food to the consumers. They are different in terms of how they serve the food. In Binalot they adapt the DAHON program which provides unlimited supply of banana leaves which is the main packaging material. Binalot also has a strong relationship with its suppliers and franchisees. SWOT Analysis: Strengths – Affordable Prices – Tasty meals – Friendly Employees – Unique packaging – Accessible to consumers – Loyal costumers Weakness -Located only in Luzon specifically in Metro Manila area. Opportunities More future franchisees because of the new company supervision scheme -More recognitions and awards for involvement to more CSR projects -Bigger market for future expansion plans to different parts of the Philippines Threats -Other competitors such as Mang Inasal, Reyes Barbecue and Goto King. -New entrants to the food and drinks business Advertising: Binalot advertises through social networking sites such as Facebook and Twitter. Promos and new meals are posted in these websites. They also do the following: -Attends trade shows -Prepares and distributes catalogues Broadcasts through news and media -Releases samples and sale promotions Eye on the future: The management plans to put up additional stores and attract more franchisees. MARKETING STRATEGY The marketing strategies of Binalot could be summarized to three concepts such as packing, meal names and good franchising system. Packaging – The Company already received many awards for using banana leaves as meal wrappers. The DAHON program was made to help poor families living near the area where the banana trees grow by buying it at a reasonable price. Unique meal names – Menus does not have to be boring.
In Binalot, meals were named in a very unique manner like “Sisig na Makisig”, “Bistek Walastik”, “No bones Daing na Bangus”. Franchising system – Binalot Fiesta Foods made it easier for the interested people to know more about the company through their website. The different franchise packages, fees, application steps and other information can be freely accessed in their website. Binalot also pioneered the Company Supervision Scheme wherein the franchisor which is Binalot will appoint a manager who will oversee the operations of the franchise business.
Other strategies: Price – Meals are very affordable. Prices range from 40 – 100 pesos. A fiesta set is also available for large volumes of orders for a low price. Place – Stores are located in busy places such as malls, call centers and many more. Most of their branches are in the Metro Manila Area. Promotion – They participate in trade shows. They also advertise in social networking sites to reach their target market. http://www. bidnetwork. org/page/131117/en http://www. binalot. com/index. php/news/ http://www. ats. agr. gc. ca/ase/5253-eng. htm