Running head: MARKETING PLAN: BIBIGO RESTAURANT

Marketing Plan: Bibigo Restaurant

Group 6
Sabin Sharma
201605028
Mehvish Tania
201605024
Lan Anh Nu Ton (Dalena)
201605009
SolBridge International School of Business
Marketing Management
MKT500
June 05, 2016
Dr. Mahmood A. Awan

MARKETING PLAN: BIBIGO RESTAURANT

Executive Summary
Bibigo restaurant is a brand extension of Cheil Jedang (CJ) that desires to provide
fresh and healthy food to Korean people. The restaurant envisages promoting Korean cuisine
to the world. The internal analysis shows the weakness of Bibigo restaurant with respect to
the lack of information regarding the financial performance. The external analysis, on the
other hand, sketches the Korean food service industry from 2011 to 2015 and reveals two
trends the home concept and solo diners that are discussed throughout the marketing plan.
The PESTLE analysis helps define some opportunities and threats. These analyses yield the
marketing objective that is to enhance Bibigo fast casual restaurants position in the Korean
quick service industry through improving its current integrated marketing communication.
Those improvements are the transition to a new target market, the development of new
product strategy, the renovation of physical evidence, the creative promotion strategy, and the
technological implementation to process strategy.
Situation Analysis
Internal Environment
Organization background. Bibigo restaurant launched in May 2010 is part of a
Korean conglomerate Cheil Jedang (CJ) (CJ Cheiljedang, 2014). The restaurant aims to
become a global Korean food brand: the brand name was designed to facilitate pronunciation
and can be easily spoken through its English written form (CJ Cheiljedang, 2014). The
restaurants mission statement is to be a Korean Healthy Fresh Kitchen (Bibigo, 2015). Thus,
Bibigo restaurant offers its main dish Bibimbap, a Korean traditional rice bowl topped with
veggies and sauce that reflects the harmony and balance of nature. Aligning with its healthy
and fresh concept, Bibigo creates salad type bibimbap with fresh and clean vegetables
(Bibigo, 2015). With the global perspective in mind, the restaurant creates a unique value
proposition to its products through offering four types of rice, six types of toppings, and four

MARKETING PLAN: BIBIGO RESTAURANT

types of sauces for product customization in order to match with different customers tastes
(Bibigo, 2015). The restaurant is believed to reflect CJs vision of promoting Korean cuisine
to the World. By 2017, Bibigo restaurants goal is to expand its business through franchising
to 18 more countries besides the United Kingdom, United States, China, and Japan (Bibigo,
2015).
Products. Bibigo is operating in two kinds of restaurant: one is quick service
restaurant and the other is casual dining restaurant. Bibigos quick service restaurant is
considered as a fast casual dining, differentiating from a traditional fast food restaurant, offers
fast but still guarantees fresh and high quality food to consumers (Nath, 2015). Casual dining
restaurant, on the other hand, is a full service restaurant, which provides broad menu and wait
staff and has food delivered directly to the customers table (Franchise Direct, 2010). Notably,
this marketing plan is catering to the first type. Bibigos fast casual dining serves bibimbap,
side menu, and special menu. The products points-of-parity are the ability to meet basic
requirement of food safety as the restaurant commits to provide healthy food to consumers
and the ability to provide fast service to the time and health conscious consumers. The
products points-of-difference are the restaurants innovative service process that allows
customers to customize their bibimbap (mixed rice) and the Bibim culture a culture of
sharing that is embedded in the brand story and brings the brand closer to the consumers
hearts in both domestic and international market.
Financial results. Regarding financial performance, Food and Food Services
occupied 31.2 percent of sales the second highest percentage among the five major
businesses of CJ corporation (Cheiljedang, 2014). The sector achieved 5959.1 KRW billion in
2012, 6069.3 KRW billion in 2013, and 6105.9 KRW billion in 2014 (Cheiljedang, 2014).
Data related to Bibigo restaurant sales in Korea cannot be accessed but its financial
performance overseas. Specifically, Bibigo restaurant in London was mentioned in the 2014

MARKETING PLAN: BIBIGO RESTAURANT

Michellin Guide because of its enthusiastic run since 2012; its sales are expected to grow 20
percent year-on-year (Park, 2014). In the U.S., the restaurant has generated 30 percent yearon-year increase in sales (Korea JoongAng Daily, 2014). Bibigo has adopted a dual strategy
in which the brand carries both processed foods and restaurant franchise chains to facilitate
its market development strategy. Bibigo endeavors to achieve 600 KRW million in oversea
sales for both processed foods and restaurant business by 2017 (Kim, 2013).
External Environment
The Korean food service industry. The Korean food service industry experienced
increasing sales from 2011 to 2014. The industrys sales increased from 72 KRW trillion in
2011 ($60 USD billion) to 83.9 KRW trillion in 2014 ($79.6 USD billion) (New Zealand
Trade & Enterprise, 2012; Oh, 2016). As of data collected in 2014, full-service restaurants
occupied the highest share of 55 percent, quick-service restaurants accounted for 19.5
percent, alcohol beverage bars took up 13.3 percent, and the remaining accounted for 12.2
percent (Oh, 2016). In early June 2015, the sales of the food service industry in Korea
declined by 41.1 percent compared with last week of May due to the Middle East respiratory
syndrome (MERS) outbreak (Kim, 2015). Fortunately, the food service industry showed signs
of recovery in that the sales declining rate dropped to 38 percent, 32 percent, and 27.8
percent on the second, third, and fourth weeks of June and began to return to a normal stage
as MERS outbreak ended on July 27 (Kim, 2015; Go, 2015).
Besides, there are some noticeable trends that will drive the Korean food service
industry. Initially, The home concept will be an important determinant in the food service
industry (Sohn, 2015). In a survey of 2000 people by Macromill, the participants were asked
reasons for dining at home. The results showed that 81.9 percent responded, feeling most
relaxed at home, 56.9 percent stated, growing social anxieties, and 75.2 percent replied,
they can do many things at home without stepping out. Experts claimed that these reasons

MARKETING PLAN: BIBIGO RESTAURANT

will give rise to new in-house goods, services and activities (Sohn, 2015). The next trend is
solo (single) diners. According to Statistics Korea, the percentage of single member
households is estimated to reach 31.3 percent in 2025 (Lee, 2014). These single households
are expressing concerns for a place accommodating single diners. Catering to this market
need will generate great return for restaurant owners as this household accounted for 60 KRW
trillion ($57 USD billion) on goods and services sales in 2010 and are expected to consume
120 KRW trillion ($114 USD billion) by 2020 (Lee, 2014). These trends will be developed
further in the opportunity and recommendation sections.
Economic environment. South Koreas economy is strong as the countrys GDP is
expected to be 1500 USD billion in 2016 and is projected to reach 1651 USD billion in 2020
figure 2 (Trading Economics, 2016). The economy is favorable for start-up businesses as
the economic freedom is making progress with the 2016 Economic Freedom Score is 71.7
percent improved 0.2 points from last year (The Heritage Foundation, 2016). However, the
issue of bribery still persists in business, politics, and everyday life (The Heritage
Foundation, 2016). That is an obstacle to small and medium enterprises but an advantage to
large family-owned business (Chaebol) such as CJ, meaning Bibigo can be beneficial from
this phenomenon. South Korea Consumer Spending was 179014 KRW billion in the first
quarter of 2016 dropped from the all time highest consumer spending of 179871.20 KRW
billion in the fourth quarter of 2015 figure 1(Trading Economics, 2016). This signifies a
threat to business owners and urges an approach to customer retention.
Demographic environment. South Koreas population in 2016 is 50.5 million people
(Countrymeters, 2016). The countrys population is ageing: 6.4 million Koreans were aged 65
and above in 2014 and this number is expected to reach 10.7 million people by 2026 (Lee &
Tan, 2016). Also, there is an increasing number of single households which accounted for
25.9 percent of the total households in 2013 and is expected to reach 31.3 percent in 2025

MARKETING PLAN: BIBIGO RESTAURANT

(Lee, 2014). According to Central Intelligence Agency World Factbook, South Korea
occupies high literacy rate: 97.9 percent of the population aged 15 and above can read and
write in 2015 (Indexmundi, 2015).
Social and cultural environment. According to Euromonitor (2016), Korean
consumers are becoming more health conscious. Previous data showed the declining
percentage of smokers aged 19 or older from 25 percent in 2012 to 23.2 percent in 2013. The
percentage of excessive drinkers was 15.9 percent in 2013 compared with 17.7 percent in the
previous year. In the same period, the percentage of the people experiencing overweight
declined from 32.8 percent to 23.9 percent (Yonhap, 2015). These changes signify
consumers willingness to purchase health-related products.
Political and legal environment. Korean government is also working to improve the
public health through encouraging the reduction in citizens sugar consumption (Sohn, 2016).
In response to this decision, the Food Ministry requires the disclosure of products sugar
levels and the organization of health awareness campaign from all food makers to ensure that
the citizens sugar consumption accounts for 10% of their calories intake. This new regulation
also urges Bibigo to incorporate this sugar reduction plan in its business model.
Technological environment. According to Internet Live Stats (2016), South Koreas
Internet users occupy 85.7% of the total population, among the top 30 countries with high
Internet penetration rate. The country had 76 percent of the population own an active social
network account in the fourth quarter of 2015 and the most popular penetration channel was
KakaoTalk with 41% (Statista, 2016). Regarding credit card usage, results from a central
bank survey show that on average Koreans bring 1.91 credit cards, 2.03 mobile cards, and
1.26 check or debit cards (Yoon, 2016). Korean people are likely to choose credit cards for
their payments rather cash. As a result, the central bank issues less cash, creating a
momentum for a cashless society.

MARKETING PLAN: BIBIGO RESTAURANT

Competitive environment. Bibigo restaurant is competing with both the direct and
indirect opponents. Direct competitors are those who offer similar services (fast casual
dining) and have identical food concept with Bibigo fresh and healthy food. Those are
Bonjuk (Rice Porridge) whose aim is also to be healthy Korean food for everyone, Subway
whose statement is eat fresh, and other local restaurants that cater to a niche market (Vegan)
Jacks Bean Falafel, PPURI on the plate (vegan pizza), and Plant. With respect to indirect
competitors, those that provide dissimilar services/ products to consumers but their existence
might affect Bibigos sales (threat of substitute). Specifically, due to the home concept
discussed in the food service industry, premium instant home-cook meals and convenient
stores quality lunch boxes will be the potential competitors. Specifically, the lunch box sales
in GS25, CU, and 7-eleven increased 50 percent from 2014 to 2015 (Park, 2015).
SWOT Analysis
Strengths. Initially, Bibigo restaurant is enjoying the benefit of brand extension from
CJ, the number one food company in South Korea. The restaurant has positioned well in the
fresh and healthy food theme, aligning itself with the Korean health conscious consumers.
The brand name Bibigo is memorable and easy to pronounce, facilitating its expansion to
the oversea market. Lastly, the restaurant possesses a creative service process which allows
consumers to personalize their bibimbap, in turn satisfying consumers individual references.
Weaknesses. With respect to the companys financial statement, there is little
information about Bibigos financial performance available online. This lack of transparency
creates a barrier to investors, potential investors and franchisees. Investors need a financial
statement to access detailed information regarding the companys assets investments as any
changes occur can positively or negatively affect them (Way, 2016). Potential investors can
rely on these data to justify their decision of whether to join the company while prospective
franchisees can determine whether to run the Bibigo restaurant. Not displaying the company's

MARKETING PLAN: BIBIGO RESTAURANT

financial statement, Bibigo restaurant might be at risk of losing potential investors or

franchisees. Research has shown striking results of improved services, increase customer
loyalty, and business performance when the company embraces transparency (Craven, 2015).
Hence, it is essential that Bibigo restaurant consider financial disclosure to benefit from the
above outcomes.
Opportunities. There are four opportunities captured from the external analysis. The
first one is from the home dining trend. Though there will be indirect competitors to Bibigo
as explained in the competitive environment, there is way to counteract this issue. Bibigo
restaurant can capitalize on this trend through infusing the homey atmosphere in the dining
area to create a second home for diners. The growing market of solo diners and their high
estimated spending by 2020 signals a transition to a new target market. The third chance is an
opportunity to revise product strategy to include specific ingredients provided in the meals.
The fourth one is a chance to incorporate technology into the service process because of the
potential cashless society by 2020.
Threats. As mentioned in the economic environment, the decrease in consumer
spending can be a threat to Bibigo restaurant as consumers might seek for cheaper
alternatives. These are the premium home-cooked meals, which are the indirect competitors
of the restaurant. This refers to a threat of substitute products. Besides, consumers
preferences are changing overtime; thus, a close forecast of consumers needs and wants is
important.
Marketing Objective
The marketing objective is to enhance Bibigo fast casual restaurants position in the
Korean quick service industry through improving its current integrated marketing
communication. Initially, it is a transition to a new target market followed by the renovation

MARKETING PLAN: BIBIGO RESTAURANT

of physical evidence, innovative promotion strategy, and the technological implementation to

the current process strategy.
Marketing Strategies
Target Market
Bibigo restaurant initially targets family, friends, and colleagues or group-oriented
individuals (Bibigo, 2015). It can be reflected through the types and arrangement of tables
and chairs, which accommodate group rather than individual customers. Information found in
the Korean food service industry indicates the increasing numbers of solo diners and the
markets estimated sales return from this new market. Thus, the current target market will be
a mixture of family, friends, and single diners.
Product Strategy
The restaurant concentrates on product and service differentiation to compete in the
food service industry. It commenced with a unique brand story, which describes the nature of
its products as well as food culture embedded in the brand. Bibigo restaurant has successfully
communicated the culture of sharing that its food carries and the nutritious balance that its
food possesses. The restaurant also provides product customization that enables consumers to
design their bibimbap. To make the menu livelier, Bibigo restaurant can offer seasonal menu
items including side dish, bibimbap, and soup that are made from a seasonal protein. These
seasonal exclusive items can draw in new and existing customers and generate awaiting effect
for the following season. Also, as mentioned in the opportunity analysis, Bibigo restaurant
can publish detail information about the ingredients in each meal on the companys website.
Being transparent can earn the restaurant credibility and trust from the consumers.
Pricing Strategy
The restaurant utilized channel pricing (Kotler, Keller, Ang, Leong, & Tan, 2012) as
Bibigo possesses two kinds of restaurant fast casual dining and casual dinning. The price

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10

range for fast casual dining is from 4,000 KRW to 9,500 KRW while that for casual dining is
from 8,000 KRW to 16,000 KRW. Additionally, Bibigo restaurants pricing strategy is also
geared towards the market and competitors price. A meals price at a typical Korean
restaurant ranges from $3.80 (KRW 4,500) to $6.77 (KRW 8,000) while that at a more
quality-centric restaurant is from $7.62 (KRW 9,000) to $16.93 (KRW 20,000) (Choi, 2015).
Bibigo restaurant has successfully segmented its quick-service restaurant in the latter price
range, making it more acceptable to quality sensitive customers and stay competitive in the
market.
Promotion Strategy
To enhance Bibigo restaurants position, it is recommended to intensively engage with
the customers. Data found in the technological environment can help conclude that the
majority of Koreans are tech-savvy. Capitalizing on that characteristic, Bibigo restaurant can
innovate a campaign called Vote your favorite healthy ingredient via a separate website or
its social networking site (SNS). Through either a separate website or a SNS, consumers will
voice their favorite ingredients and collect votes from others. In the end, the one who amasses
the most votes will receive a prize (mobile coupons or gift certificates) from the restaurant.
The purposes of this campaign are to link the image of healthy food to Bibigo restaurant, to
engage and listen to consumers, and to renovate its menu.
Distribution Strategy
Bibigo restaurant also provides delivery service to accommodate home diners.
South Korea is home to food delivery service. Having food delivery service as a fast casual
restaurant is important. For delivery service, Bibigo restaurant delivers two kinds of lunch
boxes: One is for individual diner and the other is for picnic goers Bibigo picnic box
(Bibigo, 2015). Regarding the picnic box, the components are customizable (Bibigo, 2015).
Distribution strategy can be further developed when Bibigo restaurant incorporates

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11

technology into the service. It is recommended to build an online ordering on the website and
develop a Bibigo app. Service speed will be improved as payment can be completed online
and service quanity is higher as the cash registers can focus only on in-store diners compared
with the traditional phone call delivery service.
People Strategy
Information regarding Bibigo restaurants online staff is not available online.
However, the people strategy from the mother corporation (CJ) is published in the annual
report. It is assumed that the philosophy from the mother corporation will be translated the
rest of the sub-brands in all five sectors of CJ (food & food service, home shopping &
logistics, entertainment & media, bio & pharma, and infrastructure). Chairman and President
of CJ Group Lee Jay-Hyun and Sohn Kyung Shik said, CJ envisages and makes every
effort to create a world in which people can enjoy daily happiness by watching two or three
Korean movies a year, eating Korean food like Bibimbap once or twice a month, watching
one or two Korean TV drama a week, and downloading and listening to ten or more Korean
music tracks every day.
Physical Evidence Strategy
The arrangement of tables and chairs is currently catering to group-oriented diners
(family and friends). Since there will be a transition to a mixture of group-oriented and
individual diners, interior modification is needed. Bibigo restaurant should equip the store
with tables for one or bar counter to accommodate these solo diners. Besides, according to
the technological environment, Bibigo can take advantage of the increasing usage of credit
cards, the potential of a cashless society, and tech-savvy Koreans to install ordering kiosks.
Ordering kiosk also called a self-order kiosk uses touch-screen technology to speed up the
ordering process, allow better customization, and reduce human error (Peterson, 2015).
Ordering kiosk ranges in price from $3,000 to $20,000 and its license fee is $500 per kiosk

MARKETING PLAN: BIBIGO RESTAURANT

12

(Ekert, 2016). As a debut, Bibigo restaurant can install three kiosks in a testing area and
experiment on the restaurants performance. The number of kiosks can be from two to five
depending the space within the restaurant.
Processes Strategy
Bibigo restaurant has creatively constructed a service process that allows consumers
to personalize their bibimbap, yet still retains a culture that Bibigo desires to transmit to
diners around the world the culture of sharing. There are three steps that consumers involve
to design their own bibimbap. Initially, consumers will select their type of steamed rice.
Then, they will choose the protein toppings and finally their preferred sauce (Bibigo, 2015).
Embedding customization into the restaurants service process is a wise move as consumers
are becoming more individualistic and more concerns about their diet and health (QSRWeb,
2015). In addition, as suggested in the physical evidence strategy, ordering kiosks are to be
installed in the restaurant. Thus, customers orders will be electronically processed, speeding
up the ordering process and reducing the number of cash registers.
Conclusion
In summary, research from the external and internal environment is utilized to
improve Bibigo restaurants current marketing strategies. Some recommendations for
developing an integrated marketing communication to enhance Bibigo restaurants position in
the Korean quick service industry are a transition to targeting a mixture of group and
individual diners, a detail description of ingredients in the food, a proposed seasonal menu
items, an innovative Vote your favorite healthy ingredient campaign, a suggested online
ordering and ordering app, and finally an installment of ordering kiosks.

MARKETING PLAN: BIBIGO RESTAURANT

13

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Figures
Figure 1. South Korea Consumer Spending (2013 2016)

Figure 2. South Korea GDP (2006 2016)

18