Introduction

Jollibee Foods Corporation

Company Background Tony Tan Cacktiong founder of Jollibee Foods Corporation tells a story about the success story of his company. There are many other stories about Tan and Jollibee that many people didn’t know about, and that would have remained unknown, If Tan hadn’t bested successful entrepreneurs from 30 other countries to win the “World entrepreneur of the year” Award in Montecarlo, Monaco, on May 28, 2004. Tan had always been low-key and media-shy. He was quiet happy to let his lieutenants do the talking for him to the press, actually – but his winning the award from the accounting firm Ernst & Young had forced him to agree to so many newspaper, magazine, and TV interviews later to tell …show more content…

Tony Tan Cacktiong used his knowledge of Filipino taste and culture to turn Jollibee into a true Filipino icon.

Place One of the important factors to consider before you can have this kind of business is the place or location, before you can say that this spot is best for the location of your franchise you should ask these question, “who are the target customers in this site?”, “what are the possible threats in this location?”, “Who are the competitors in this area?”, “Is the place suitable for the kind of business I will establish? Or vice versa”, If you are able to answer all of these presiding questions then you are now on your road to survival in establishing a business. Of course in minding your four P’s, the place is the most critical among the four. You have to consider everything. According to Mr. Chaze, you have to make sure that the place where your business franchise will be built should be in a very crowdy place. Given the examples are near the schools, malls, market place, subdivisions and etc.

Price Franchisees are given the right to use the franchiser’s trademark in franchising. Then franchisers are providing full support to franchisees in terms of staff training, research and development, advertising and promotion. However, franchisees follow strict standards and run their outlets by the book. So in terms of pricing, franchisees needs to abide the rules and regulations in price setting according to the book of