Bonchon Korean Word Meaning “original Village”
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Background
BonChon Is a Korean Word Meaning “Original Village” Just as people yearn for their hometown. First store was opened in Bustan Korea in 2002 and then in 2006 in was brought to USA. In November 2010, Scott Tan, the 29 year-old president of BonChon Korea and USA and the master franchisee for the Philippines of the Korean brand, opened the first store of BonChon in the Philippines. He was able to open 18 branches in just 18 months and now they already have 24 stores. They cook their chicken without breading; they fry it first to cook the chicken and cook it again to melt the chicken fats, it makes the chicken crispier. The BonChon is originally sports bart type in New York but Scott Tan decided to change it into family-oriented store.
Problem-Opportunity
It seems like there is a BonChon chicken phenomenon all over the metro, but this phenomenon hasnt reached the province yet. BonChon is not on the top list of businesses in the country that serve chicken; this means that they dont gain a large market share yet. Their store expansion in Manila is fast-paced, they were able to open 18 branches in just 18 months, but they left provinces behind. They open their first provincial branch in Davao recently. It is really inconvenient for the people in the province to come in Manila just to try BonChon. They should be the one to exert effort to be closer to their customers and give convenience to them.
BonChon has the opportunity to open branches in different provinces to increase the number of their outlets, to gain profit and to increase their market share. They can also enlarge their store, add tables and chairs to accommodate large number of people.
Internal and External Factors
INTERNAL FACTORS:
Price: The price of the food is not cheap.
Taste: The food tastes great specially the chicken.
Service: The service is not that good.
Store Ambiance: The ambiance is just simple.
Call-for-pickup: The waiting time for the food to be serving will take you 5-10 minutes because some have already call for pick up.
EXTERNAL FACTORS:
Indirect competitors: There are a lot of indirect competitors that are selling fried chicken in the traditional way.
Threat of new entrants
Bird flu outbreak: bird flu
Heavy typhoon
Objective
Increase market share by establishing