Islands Souvenirs being the best subscriber yet for Philippine Tourism has been able to successfully maximise the huge potency this industry has to offer. With mercantile establishments strategically located in the assorted tourer & A ; travel finishs in the state and has since origin traveled even beyond Philippine shores. the company has experienced unprecedented growing in the souvenir retail concern as brought about by the vigorous developments in touristry.
Islands Souvenirs offer high quality merchandises which makes their company a recognized and a extremely sure trade name name. They have superior designs and they advertise more than their rivals so their trade name corsets on top of head more. Every concern has its ain extremums and autumn times. There are besides weaknesses Islands Souvenirs is confronting. They can non look to bring forth adequate gross revenues in promenades and in section shops since monetary value sensitive consumers prefer cheaper points. We recommend that they should see competitory pricing scheme in order to pull local clients in promenades.
Islands Souvenirs became popular for its innovativeness in the keepsake industry. so that’s what they will ever go on to make. Tourism industry is dining in the following approaching old ages. so we will anticipate an intense competition and the menace of approaching entrants. The construct of e-commerce is fast going advantageous for both the marketer and consumer in today’s fast traveling and electronically-connected universe.
For many concerns. e-commerce is going the lone option. as companies become more and more interested in spread outing their operations online. E-commerce offers advantages that include the ability to spread out into planetary markets with a lower limit of disbursal. therefore leting houses to make narrow market sections that are geographically scattered. In the long tally. Islands Souvenirs would capture all of its possible markets including OFW’s and aliens that would wish to sponsor Islands Souvenirs and the Philippines. I. INDUSTRY PROFILE
I-A. SITUATION OF THE INDUSTRY
*Composition of concerns belonging to the souvenir point industry ; The keepsake industry mentality is bright. estimating from a Department of Tourism study that foreign travellers normally spend 60 per centum of their budget on shopping and some 80 per centum of touristry disbursement goes to souvenirs. Souvenirs comprise a multi-million dollar industry worldwide. yet in the Philippines. the sector remains mostly untapped. Many native merchandises. among them bags. billfolds. baskets. places. slippers. handcrafts. furniture. manner wear. accoutrements. and novelty points. are fashioned by skilled craftsmen in the countryside out of autochthonal stuffs.
*Industry growth/decline forms
The industry in which Islands Souvenirs belong is the souvenir point industry under the touristry. The company has a small coverage in both since its chief merchandises are largely apparels picturing words or images that show Cebu. The market growing of the industry is as follows ;
Visitor reachings for the period January to August 2012 reached 2. 858. 348. an addition of 9. 78 % vis-a-vis its old year’s reachings of 2. 603. 675 for the same period.
The Korean market contributed 23. 76 % of the entire visitant volume by supplying 679. 123 reachings. It posted a double-digit growing of 10. 39 % . exceling the overall growing in reachings. Arrivals from the U. S. A. accounted for 15. 63 % or 446. 684 reachings. This market grew by 4. 05 % versus its reachings of 429. 280 a twelvemonth ago. The Nipponese market provided a sum of 278. 017 reachings. consisting 9. 73 % to entire visitant traffic.
The said market grew by 9. 66 % . maintaining gait with the overall growing in reachings. Visitors from China provided the 4th biggest reachings. capturing 6. 29 % of the entire visitant volume and bring forthing 179. 879 reachings. This market grew by 19. 09 % over its year-ago volume of 151. 042 reachings. The Chinese market comprised the 5th biggest visitant market to the state registering a sum of 155. 675 reachings and a portion of 5. 45 % . This market increased by 29. 11 % . the highest among the top five major markets. over its volume of 120. 572 the old twelvemonth.
Other markets with significant part include Australia with 118. 050 reachings. Singapore with 95. 913 reachings. Canada with 81. 093 reachings. Hongkong with 77. 506 reachings and United Kingdom with 74. 696 reachings.
Visitors from Russia grew by 40. 35 % as its reachings reached 16. 401 compared to its end product of 11. 686 reachings in 2011. Other markets with high growing rates and significant reachings include France which registered a 13. 96 % growing ( 23. 116 reachings ) and Germany with 10. 64 % addition ( 44. 534 reachings ) . As we can see the in the charts. the figure of tourers sing the state is increasing which could give island souvenirs a good chance to hike gross revenues. The lessening in some countries in the timeline would mean that the company will non be able to hold many gross revenues to the tourer market.
* Products and services of a souvenir point industry
Consumer disbursement. particular occasions. and tourist travel drive demand. Large companies have advantages in buying. distribution. and selling. Companies can vie efficaciously by selling forte merchandises. supplying superior service. or presenting a alone client experience.
Souvenirs compete with a broad scope of concerns because they stock ware across many classs. Souvenirs shops supply a assortment of services to tourers. Souvenir development plays an of import function in finish direction. because it is both psychologically and economically related to touristry.
Souvenirs as objects include mass-produced ware such as vesture: Jerseies and chapeaus ; collectibles: post cards. icebox magnets. illumination figures ; household points: mugs. bowls. home bases. ashtrays. egg timers. spoons. notepads plus many others. Souvenirs besides include non-mass-produced points like folk art. handcrafts and old-timers. and non-commercial points such as natural objects. and anything else that a individual attaches nostalgic value to and collects among his personal properties.
The term souvenir brings to mind the mass-produced kitsch that is the chief trade good of keepsake in many tourer traps around the universe.
The keepsake industry designates touristry keepsakes as commemorating ware associated with a location. frequently including geographic information and normally produced in a mode that promotes souvenir collection. Throughout the universe. souvenir trade is an of import portion of the touristry industry functioning a double function. first to assist better the local economic system. and 2nd to let visitants to take with them a souvenir of their visit. finally to promote an chance for a return visit. or to advance the venue to other tourers as a signifier of viva-voce selling. Possibly the most gathered keepsakes by tourers are photographs with the personal thing that they wear or have as a medium to document specific events and topographic points for future mention
Different parts have different characteristic civilizations. each civilization have a specific type of composing methods and their stableness features. Souvenir design should to the full incarnate the alone civilization of region-specific content. so it can pull consumers.
The keepsake industry have strong local features. souvenir industry market chances of such a big extent determined by cultural differences. it is a part and show of national civilization. The design and development of keepsakes should to the full tap its geographical and cultural intensions to run into increasing consumer demand of local tourers.
Keepsakes industry occupies an of import place ; it is a new growing point of the touristry. a good keepsake which can put a good image for the touristry. It can enrich the keepsake market and increase the local touristry income in a state
At the same clip. it serves tourers and the local function in cultural exchanges. so that local accomplishments can be some of the traditional manual transmittal. Souvenir industries in local position non merely advance the economic development of tourer countries. but besides play a publicity of cultural touristry country. The development of successful keepsake design has a great significance for the publicity of touristry and cultural industry development in a state.
The key is that interior decorators must be good through distinction and cleavage of the keepsakes. looking for a new meeting point to run into people’s demands. to taking the enterprise to develop the market. Industry besides must observe that the mental map. every bit good as more humanist considerations. For illustration. doing the souvenirs’ packaging more sophisticated. transporting more convenient. etc. ; non merely to emphasis on the diverseness of human demands and analyze the development of the line. to suggest new functional demands and new uses. Industry besides should pay close attending to the development of modern scientific discipline and engineering. because merely rely on new scientific and technological accomplishments in order to do new plants. new constructions and new stuffs to update the signifier of capableness. to accommodate to the altering demands of consumer market particularly tourist markets and the general mass aesthetic orientation. In add-on. during the merchandise development. the aesthetic create of art and design is an of import facet to accomplish distinction and trade name features. Tourist keepsakes must be created through the aesthetic to initiation and stimulate people’s desire to buy. to run into the aesthetic and religious demands of the people. thereby spread outing the market consequence.
I-B. COMPETITOR ANALYSIS
List of rivals:
Cebu based company that manufactures and retails souvenir points. travel vesture. accoutrements. and shirts with alone designs utilizing the latest screen printing engineering. Today. Lokal has a sum of 8 mercantile establishments in Cebu City and is committed to supply high quality designs and shirts utilizing the latest engineering in the screen publishing industry.
KULAS – the company specializes in keepsake shirts and offers customized shirt designs for many types of consumers. Examples are schools. designs for Son and uniforms. To maintain up with the of all time altering tendencies in the concern universe Kulas creates their ain designs for their shirts and manufactures them. Since the company manufactures their ain shirts they have maintained the quality in their merchandise for about twenty old ages. Kulas has a alone manner in puting their ends alternatively of steering the way of the company they compete with their ain name. they find ways ; make new designs and schemes to maintain on bettering the company by measuring its public presentation.
3. My Philippines
My Philippines Lifestyle. Inc. is a comparatively immature Company that manufactures souvenir tshirts. caps. towels and other keepsake dress under the trade name “My Philippines” which could be found in all SM Department Store and Kultura Branches nationally.
Strengths – Weaknesses Analysis of their rivals
Developing a monetary value construction is one of the most pertinent parts of concern design. Pricing right is the most efficient manner to do certain you generate moneymaking returns. Bing competitory in your pricing means more than merely traveling a spot cheaper than your rivals ; it’s about your location. your service and more. Developing monetary value construction in your concern will offer you more profitable chances and assist do your company flourish. These companies set their monetary values based on how they understand the sensed value that products/service provide to the terminal purchaser. The monetary values are besides set competitively based on the quality of their merchandises.
One of the failings of these companies is that they don’t have personal dress shops. They normally put up their concern into cart or kiosk inside the section shop. These companies besides experience seasonal bead off of the demand of their merchandises. Another failing would be the rivals can’t win the bulk of the market portion the industry has because taking companies like Islands Souvenirs is good known to the populace and has established a niche in the benchmark class for decennaries.
SWOT Matrix of their rivals
Between Islands Souvenirs and its rivals they offer similar merchandises to clients. Islands Souvenirs has more modern merchandises available which can be bought non merely by tourers but besides locals who have a high degree of grasp for their civilization. Island keepsake. similar to their rivals. concentrate on the quality of their merchandise every bit good as to the value of their trade name. But if you compare it with its rivals. Islands Souvenirs is a much more recognized and has a strong trade name name. Their strong retail schemes are what makes them stood out and set them above the remainder. They exercised a batch of inventions. When clients look for souvenir points. they will automatically see Islands Souvenirs merchandises as one of the trade names that they can swear to. This has been instilled in people’s heads that Islands Souvenirs provides high quality merchandises and a extremely sure trade name name.
I-C. INDUSTRY ANALYSIS
Since Island Souvenirs’ “Own an Island! ” plan. they have extended their geographical range by come ining the market through franchising. That fact that the Philippines doesn’t have franchising ordinances allows for a broad concern environment and has contributed significantly to the thriving and flourishing of franchising in the Philippines. However. many issues harvest up because of the absence of clear directives and unambiguous parametric quantities. They are. nevertheless. subjected to the general Torahs of land such as the Civil Code and Intellectual Property Code depending on the issues at manus.
As of August 2012. the benchmarked involvement rate reached an all-time depression at 3. 75 % which would straight bespeak a lower cost of capital for the country’s industries. However. since the annulment of the Usury Law ( Act 2655 ) in 1982. loans taken out of non-banking establishments could turn out
disadvantageous as involvement rates are no longer standardized by the Monetary Board and the BSP.
Filipinos are by and large loyal people. This certain attitude. paired with the increasing population. would profit the industry as their merchandises by and large promote a sense of pride with respects to cultural ethnicity and beginning.
The production procedure of Islands Souvenirs is non reliant on technological progresss. They use the traditional silk screen print method for their production to cut costs. The peculiarity of their merchandises. nevertheless. lies more in their designs. The advertisement sector. though. relies more on online and societal media selling as a agency as this allows a broader range towards their mark market. set uping trade name equity and cut downing communicating costs.
*Porter’s Five Forces Analysis
Menace of New Entrants
The keepsake store industry. in a broader chance. has really low entry and issue barriers—to the point where 1 might see it to be in a province of perfect competition. Your mean individual can merely come out of nowhere and get down his/her ain stall as it requires really small capital.
Menace of Substitute Merchandises
There are plentifulness of replacements in the keepsake store industry. Sing that the industry relies to a great extent on tourers and traveller penchants. their primary menace of replacement is functional merchandises. They face the menace that their mark market may switch its attending to buying more functional. locally produced points to function as their keepsakes.
Dickering Power of Customers
One major factor impacting the power of purchasers in the industry is the comparatively low shift costs. Since the industry offers really generic merchandises. it provides a really small sensed degree of distinction and allows its clients to easy reassign from one provider to another.
Dickering Power of Suppliers
The bargaining power of providers in the industry is by and large weak sing the generic natural stuffs to be used in production. Souvenir store companies can merely exchange to smaller. weaker providers for natural stuffs should the demand arise.
Competitive Rivalry within an Industry
There is a big sum of competition within the keepsake store industry. There is decreased trade name trueness as there is small distinction between the merchandises sold between clients. With the exclusion of a few prima houses. rivals are about the same size of each other. Although. the low issue barriers could turn out advantageous to the prima houses of the industry.
II. COMPANY PROFILE
II-A. COMPANY BACKGROUND
The Islands Group traces its history back to the early beginnings of Islands Souvenirs in Cebu in 1992. Islands Souvenirs broke the cast of cottage-industry keepsake merchandises and carved out a new niche for itself by supplying premium-quality souvenir points. creatively designed and packaged in vivacious shopping environments.
Today. Islands Souvenirs has captured a important portion of the keepsake market and has become the most awarded keepsake trade name in the Philippines. Its retail operations have expanded to high-traffic tourer countries such as Bohol. Palawan. Baguio. Vigan. Davao. and Manila. and has since so paved the manner for other subordinates of the Islands Group. At the same clip. Islands Souvenirs continues to do mileposts for its invention in retail.
One of these inventions is the individualized I bosom shirts that allow clients to personalise shirts with their ain names in every bit small as 30 proceedingss. Islands Souvenirs is the first to offer this. which has allowed locals to show their pride of topographic point for Cebu. where the construct was ab initio rolled out. Soon the other finishs followed every bit good. In this manner. the Islands Souvenirs trade name has become more widely embraced by the local market. even at one point deriving acknowledgment for accomplishing the highest gross revenues above other merchandisers in a promenade where it is situated. Islands Souvenirs has genuinely proven itself to be a versatile and digesting trade name in a market full of fledglings and competition.
Islands Souvenirs’ civilization of invention and entrepreneurship has been the foundation of the Islands Group. and drift for its other travel-support constructs.
II-B. COMPANY ANALYSIS
The undermentioned SWOT analysis captures the cardinal strengths and failings within the company and describes the chances and menaces confronting Island Souvenirs.
Islands Souvenirs has captured a important portion of the keepsake market and has become the most awarded keepsake trade name in the Philippines. It is good established due to their invention. It has been in service for many old ages and knows how to provide to the demands of the consumer. Island Souvenirs offer high quality merchandises which makes their company a recognized and extremely sure trade name name. Highly lasting. safety-focused and comfy merchandise will be heartily accepted by the consumer. This could take to improved productiveness. The relationship between monetary value and quality has been a cardinal focal point on consumer motions.
Having high quality merchandise will direct out right message to the consumers. Business location is of import as it helps one to entree his or her mark market or clients. One can either derive or lose clients by the pick of concern location they choose. Island Souvenirs has a concern location where it is convenient for clients. employees. accessible and have all the appropriate public-service corporations. One of the strengths of Island Souvenirs includes the first-class staff who are extremely trained and really client attentive. Island Souvenir trade name has become more widely embraced by the local market. It has genuinely proven itself to be a versatile and digesting trade name in a market full of fledglings and competition.
Every concern has its ain extremums and autumn times. Islands Souvenirs’ increases the demand for their shirts during summer and Christmas season because that is when tourers take clip for holiday. In the other months. July to September is when they incur their lowest gross revenues turnover for the twelvemonth. So there is a seasonal bead off of the demand of their merchandises. Another failing would be the penchant of monetary value sensitive consumers. alternatively of purchasing Islands Souvenirs point they will now prefer over their rivals since their rivals are offering them lower monetary values than Islands Souvenirs locating in promenades and section shops.
We have seen that the retail market is more aggressive presents and touristry is dining in the state with the inflow of tourers. By spread outing the merchandise offering a concern can pull new clients with wholly different penchants from their bing client base. Having multiple merchandise lines can diversify hazard. add to a company trade name and potentially grow concern. The add-on of a new merchandise could assist a concern non merely vie with existing rivals but let the concern to vie more loosely in the industry every bit good. Progresss in engineering can do running your company easier and less expensive.
Businesss exist in a competitory environment. It’s a cardinal world of being in concern. Businesses compete in many ways. One of the most obvious ways is over monetary value. Knowing who your rivals are. and what they are offering. can assist you better your merchandises. services and selling. It will enable you to put your monetary values competitively and assist you to react to equal selling runs with your ain enterprises. Government ordinance is invariably present in our lives. There are times that the authorities acquire protective and don’t allow certain companies to come in a peculiar market. A important slack in the economic system that will probably hold a correlative consequence on the industry serves as a menace to a concern. A individual of series of immense. unexpected. traumatic events that put important strain on the fiscal wellness of the keepsake industry as a whole could besides be a menace to a company.
GROWTH SALES OF ISLANDS SOUVENIRS
The line chart shows that there is an addition of gross revenues from 2008 – 2010. nevertheless. a diminution in 2011 with a gross revenues gross of more than P147M from P160M in 2010. This is due to some traumatic events happened during 2011. The work stoppages of PAL. the coach highjacking of the Hongkong tourists all happened during that twelvemonth. Those were the most noteworthy things that made to draw down touristry impacting the whole industry including the whole Islands Group and their rivals.
Beginning: Fiscal statements we gathered in Securities and Exchange Commission
II-C. COMPANY’S VISION/MISSION ; GOALS & A ; OBJECTIVES:
To be the taking trade name of travel-support merchandises and services in the Philippines.
*Goals and Aims
To raising and cultivate the trade name. To go on to turn. expand. evolve and to go on being in the head of the travel industry.
II-D. Selling STRATEGIES AND PROGRAMS
Today. Islands Souvenirs has captured a important portion of the keepsake market and has become the most awarded keepsake trade name in the Philippines. Its retail operations have expanded to high-traffic tourer countries such as
Bohol. Palawan. Baguio. Vigan. Davao. and Manila. They have located the mercantile establishments and stores in countries that have high potency for touristry growing where all the foreign and local tourers can be found.
The pie chart above shows the market cleavage of Islands Souvenirs. Generally. the company has two markets: foreign and local tourers. Approximately gauging 65 % are domestic tourers and 35 % are foreign tourers. These are the markets who would love to pass their holiday in the Philippines non merely advancing touristry but besides the trade name itself. * Target Market
Since Islands Souvenirs is a travel and support trade name. we would anticipate them to aim most of the foreign tourers. But this is non the instance. Harmonizing to the market portion graph. the market that would show best net incomes for the company is the domestic tourers. These are the groups that will extremely sponsor the Philippines peculiarly its different Islands. Since the locals know more about the islands that’s why they prefer to be in the Philippines than in other topographic points abroad. Islands Souvenirs has ever been reputed for its merriment designs and is well-known for its strong design constructs. Local tourers are much attracted to the merriment designs of Islands Souvenirs since most of the designs tell a narrative about the different Philippine finishs.
Bing the taking company of premium-quality souvenir points industry in the Philippines. Islands Souvenirs has been known of its superior designs and high quality merchandises. Aside from their strong trade name name and t-shirt designs. they are a extremely strategic company. They know how to spread out. to turn and to germinate. They exercised a batch of inventions. In fact. Islands trade name has expanded off to other subordinates countrywide. with assorted open uping constituents in cordial reception. escapade. retail. Tourss. media. and design. This includes the Islands Banca Cruises. Islands Stay Hotels and a batch more. All of these things have strengthened the female parent trade name which is Island Souvenirs.
Islands Souvenirs’ civilization of invention and entrepreneurship has been the foundation of the Islands Group. and drift for its other travel-support constructs. This makes them a extremely strong trade name.
Islands Souvenirs purposes to make more prospective clients by spread outing their market through franchise. mercantile establishments. and stores. Their strong retail schemes are what makes them stood out and set them above the remainder. When clients look for souvenir points. they will automatically see Islands Souvenirs merchandises as one of the trade names that they can swear to. This has been instilled in people’s heads that Islands Souvenirs provides high quality merchandises and a extremely sure trade name name. II-E. Selling MIX DECISIONS
Islands Souvenirs is a retail shop that sells souvenir points in different subdivisions available countrywide. Among their broad scope of merchandises offered for their market are: souvenir shirts. trunkss. bags. baller IDs. and other souvenir points. But more significantly. they specialize in selling individualized shirts catching most of their gross revenues which they call as their “I bosom shirt” with the customer’s preferred name printed on the shirt in every bit small as 30 proceedingss publishing clip. These are available to both males and females. with different tantrums. sizes. and colourss. Following to their forte “I bosom shirts” . are their baller IDs which is with the same construct and design with the “I bosom shirt” . Superior quality and alone originative designs gave manner for the “I bosom shirts” and baller IDs to capture the local market in which the foreign tourers followed. They carved out a new niche in the travel and touristry industry by go oning to do mileposts for its invention in retail.
Product history of their popular I bosom shirts:
The construct of I bosom shirt became the biggest phenomenon for Islands Souvenirs. The months of November. December. and January are considered peak seasons of Islands Souvenirs particularly the month of January. where Sinulog is being celebrated and it follows the summer season. So they have a dead month in February. They saw this as an chance for Islands Souvenirs to make full in the spreads and seek to acquire possible replies for their jobs. As we all know that February is known for month of love. And that came approximately. They felt the love of topographic point and they’ve tried to work out what better construct could they come up with the love of topographic point. So this is where the thought of I bosom shirt all started out and when they launched the I bosom Cebu run. it merely took off and exploded. Islands Souvenirs will go on to foster out and to turn bigger in the following approaching old ages.
The company used a mark-up pricing scheme to cover all of the incurred costs plus a certain per centum mark-up. They besides exercise in value pricing. In this value pricing. clients will non pay for what the existent monetary value of the merchandise but the value given to the consumers themselves. That value. for one is the advanced construct of personalising their shirts. In fact. they are the first trade name of all time to do such construct in the souvenir point industry. The monetary value for the celebrated “I bosom shirts” will be less than P600 each for both male and female tantrums. but the monetary values will change depending on what colour of the shirt and the colour of the bosom print.
Beyond mark-up pricing and value pricing. they besides apply uneven pricing. Psychological pricing or uneven monetary value stoping is a selling pattern based on the theory that certain monetary values have a psychological impact. The retail monetary values are frequently expressed as “odd prices” : a little less than a circular figure. e. g. P199. 99 or $ 7. 98. The theory is this thrusts demand greater than would be expected if consumers were absolutely rational. Psychological pricing is one cause of monetary value points. Companies use uneven pricing because of client psychological science. When some clients see $ 19. 97. that client may believe the monetary value is closer to $ 19 than it is to $ 20. Most people think that manner and it puts more money into the company’s pockets.
By manner of administering their merchandises widely available to their valued clients. Islands Souvenirs strategically locates their mercantile establishments where there is a heavy traffic of tourers. Tourist musca volitanss like Magellan’s cross and a dress shop inside Mactan – Cebu International Airport additions a perfect location for the company as it receives the best gross revenues in Cebu. Not merely they accommodate to the local and foreign tourers. they besides like to spread out their market portion through the locals so they are besides situated mercantile establishments in the promenades and section shops. These locations are placed because their mark markets are often found at that place and can easy be reached by the company.
Islands Souvenirs Branches in Cebu:
* Ayala Center Cebu
* SM City Cebu
* Marina Mall
* Magellan’s Cross
* Mactan – Cebu International Airport
The company seldom participates in mall broad gross revenues nor are they concentrating excessively much on their gross revenues publicities. Alternatively. Islands Souvenirs are stressing advertisement publicities and tight public dealingss. In every busy roads and main roads. they put up immense hoardings. They besides advertise in telecasting and wireless ads with their known subscribers typically the local famous persons and public functionaries. To add that. the Islands Magazine – which is their magazine trade name still under the umbrella of the Islands Group is besides a manner of advertisement through media magazine. The magazine is available in assorted java stores. promenades. and salon watering place. Those ways. without exerting gross revenues publicities are still really effectual ways of advancing Islands Souvenirs.
Because of Islands Souvenirs’ consistence in fabrication and presenting high quality criterions of its merchandises to its clients. it has genuinely proven itself to be a versatile and digesting trade name in a market full of fledglings and competition. We meekly conclude that it can really good spread out. turn. and germinate on concern chances that will allow them go on being at the head of travel industry. Furthermore. we believe that Islands Souvenirs has developed its alone selling schemes to do it the taking trade name of travel support merchandises and services in the Philippines.
Islands Souvenirs relies on an ever-growing inflow of tourers. the domestic travel tendency that’s fast deriving impulse. while developing the growing of the local market every bit good. The travel tendencies and methods of going have changed dramatically. There’s a drastic alteration on how people travel today. We recommend that Islands Souvenirs should happen the right people for the new tendency of travel. They should engage and acquire new people that have had experience in the travel industry that would assist put to death their new schemes for the new sort of traveller. They should go on to do mileposts for its invention in retail. go on to foster and cultivate the trade name. to run into the demands of its valued clients and to continue the trueness of their employees by giving them better wage.
We besides recommend that Islands Souvenirs would spread out their operations online. E-commerce offers advantages that include the ability to spread out into planetary markets with a lower limit of disbursal. therefore leting houses to make narrow market sections that are geographically scattered. In the long tally. Islands Souvenirs would capture all of its possible markets including OFW’s and aliens that would wish to sponsor Islands Souvenirs and the Philippines.
III. BIBLIOGRAPHY AND REFERENCES
hypertext transfer protocol: //www. islandssouvenirs. com/
hypertext transfer protocol: //www. theislandsgroup. com/
hypertext transfer protocol: //www. theislandsgroup. com/islandssouvenirs. hypertext markup language
hypertext transfer protocol: //www. theislandsgroup. com/islandsbancacruises. hypertext markup language
hypertext transfer protocol: //www. theislandsgroup. com/islandsstayhotels. hypertext markup language
hypertext transfer protocol: //www. theislandsgroup. com/aboutus. hypertext markup language
hypertext transfer protocol: //www. theislandsgroup. com/awards. hypertext markup language
hypertext transfer protocol: //www. theislandsgroup. com/press/clippings
hypertext transfer protocol: //www. kulasideas. com/index. hypertext markup language
hypertext transfer protocol: //www. lokal-philippines. com/index. hypertext markup language
hypertext transfer protocol: //mynationalshirt. multiply. com/
We had interviewed Ms. Andrea Lugue. the Group Marketing Head of the Islands Group last Sept. 14. 2012. Here is how the interview goes:
Who are your markets? How do you section your market?
* Our market is by and large divided into: Tourists and Locals. What are your mark market schemes?
* Our merchandises are basically the same. though we target the tourers by advertisement among the locals and therefore bring forthing trusty viva-voce advertisement. What are your placement schemes for competitory advantage and alone merchandising proposition? * We are the lone trade name that places itself as a premium-quality keepsake point – the merchandises and monetary values speak for such a placement. What are your failings as a company?
* Well. we’re non a elephantine participant like Ayala or Gokongwei. but the top is that we can travel agilely when get downing a new concern unit.
What are your future chances you deem to be profitable puting on? * Aside from opening Islands Stay Hotels to franchising for little and average enterprisers. The Islands Group is looking to travel into transit and online travel retail in the hereafter. What are the possible menaces that could do the company problem? * The most noteworthy thing that happened to draw down touristry as of late was the coach highjacking of Hongkong tourers. so we hope that or something similar doesn’t happen once more. On your logistics. how do you administer?
* Mostly we merely use regular lading transportation for distribution. How do you treat in doing your I bosom shirts?
* Some are utilizing the traditional method ( silkscreened ) . for more shirts with more sophisticated stuffs and other points we have those contracted from another provider. What is the company’s mission/vision?
* To be the taking trade name of travel-support merchandises and services in the Philippines. Where is the best location in puting your mercantile establishments?
* The strategic location of our mercantile establishments will be best if it’s interior or near the airdrome and in tourist musca volitanss. We besides have dress shops present in promenades and section shops. How do you monetary value your merchandises? What is your pricing scheme? * We apply mark-up and value pricing scheme.
How make your advance your merchandises and the company itself?
* We promote conventional ways of publicities like advertisement in Television. wireless and hoardings. We besides promote through the societal media in Facebook and Twitter.
However. the given pieces of information were excessively general and largely obscure so we felt the demand for a 2nd interview for elucidations and specifications. By this clip. we’d like to interview the rightful proprietor of Islands Souvenirs. Mr. Jay Aldeguer. himself that he courteously obliged and appointed us a meeting last Oct. 3. 2012 at his really ain office. Here’s how the interview goes:
How did you come up with the trade name name “Islands Souvenirs” ? * Knowing the Philippines is an archipelago that composes 7. 100 islands ; the name wasn’t that difficult to come up. What is the history behind the “I bosom shirts” ?
* We felt the demand to make full in the spreads of our dead month which is February. As we know that it is the love month. integrating the bosom which makes that a major factor in making designs for the shirts. What is beyond the uneven monetary values of the merchandises?
* That is called as uneven monetary value stoping or psychological pricing scheme. There is a survey that reveals consumers are attracted to uneven Numberss believing that the point is cheaper compared to even 1s. What are your different gross revenues publicities aside from advertizements? * We don’t concentrate excessively much on gross revenues publicities. Alternatively we emphasize more in advertisement through hoardings. Television and wireless ads. Who are your mark markets?
* Approximately. 65 % are domestic tourers and 35 % are foreign tourers. What are your public relation plans?
* We don’t have a separate section for public dealingss. It merely comes to us of course. But we actively take part in maintaining and continuing the attractive forces of the Philippines.